USBank Prequal -- is it legit?

[Anonymous]

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@CreditDunce wrote:

I don't think US Bank is that conservative of a lender.  They approve people with at least what I would consider low scores.  Especially, if you have a banking relationship with them. 

However, if you live out of their service area, the pre-qual site doesn't give you squat, even with very good credit.  I don't know how reliable it is if you live in their service area.  The only way I was able to get a pre-qual with US Bank was to open a checking account.  While opening the account they gave me a pre-qual offer.   In my case, it was an instant decision with the pre-qual offer (although, the language said it would be reviewed the next day). 

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I definitely think they have loosened up in the last couple months. I've seen more and more approvals lately here (and on other websites that shall not be named). Heck, they approved me for a Cash+ and my scores are not at all impressive (granted, I was lucky and they pulled my highest score by 30 points).

[Anonymous]

Congrats! Great card lineup.

[Anonymous]

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@TroysMom1 wrote:

Thanks for the encouragement.  From what you're saying, it sounds like face-to-face interaction and an established relationship with the bank increases the odds of getting an approval when you might not meet some of their criteria (e.g., minimum credit score).  Since I can't speak to anyone at U.S. Bank in person, do you know if they are equally benevolent over the phone?  Their nearest branch is a whole state away from where I live.

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US Bank uses a "Customer Relationship" score (internal) as part of their decision process for some products. Since you have a mortgage possibly that would come into play. It has helped me to obtain various products. As to pre-quals ... hmm I never seem to pre-qual for anybody and a BK many years ago wiped my credit history (BK dropped but my credit history compared to my actual age sticks out like a sore thumb) and is shorter than it should be. US Bank virtually manually reviews 99% of credit apps so 7 to 10 day messages are more often than not. Been with them for 3 years now and they have been down to earth and flexible. Someone posted they like to see customers pay their bills! Also, they do watch utilization. Got wrapped for being at 50% on my PPLOC (was only paying the minimum) so I know they like more than minimum payments. Several ways to beat fees depending on how you set accounts up. A packed money market savings linked to a gold checking which you have a credit card is all free and in my case includes checks photo'd online. Like many banks there is a charge to have checks returned. Use their website for virtually everything and only write fifteen checks in total for a year. Like Chase they do have service areas (Chase will not give me a checking account due to outside their service area but then FNB Omaha and several others won't for the same reason).