cancel
Showing results for 
Search instead for 
Did you mean: 

US Bank Premier LOC

Regular Contributor

US Bank Premier LOC

Received a marketing email from these guys today, which feels good after working to rebuild(still in progress).  While this isn't a pre-qual or anything, I can't help but feel that it is somewhat targeted, since I've never received solicitations for this before in the 8 or 9 years I've banked with them.  I picked up my first two USB CC's in June, so I imagine that may have triggered some tailored marketing.  

 

Just wondering what thoughts were on the USB LOC from anyone who has had one.  Not planning on applying at the moment, as I have enough new accounts.  Was intrigued that the email listed the APR @11.25%, which seemed decent for this type of product.  I have the standard Reserve Line from them, but they told me they do not allow CLI's on it.  I assume they do on the Premier LIne, but please confirm if anyone knows.    

Message 1 of 6
5 REPLIES
Regular Contributor

Re: US Bank Premier LOC


MIDWESTCOAST wrote:

Received a marketing email from these guys today, which feels good after working to rebuild(still in progress).  While this isn't a pre-qual or anything, I can't help but feel that it is somewhat targeted, since I've never received solicitations for this before in the 8 or 9 years I've banked with them.  I picked up my first two USB CC's in June, so I imagine that may have triggered some tailored marketing.  

 

Just wondering what thoughts were on the USB LOC from anyone who has had one.  Not planning on applying at the moment, as I have enough new accounts.  Was intrigued that the email listed the APR @11.25%, which seemed decent for this type of product.  I have the standard Reserve Line from them, but they told me they do not allow CLI's on it.  I assume they do on the Premier LIne, but please confirm if anyone knows.    


I'm pretty sure its for a set amount.  Just beware, it'll be a hp if you apply.  I had just received my Alt Reserve, was solicited by a branch manager over the phone for the Premier LOC.  He said they'd use the same hp, but nope! A second hp, only to be denied.  It was only for $5k, so what the heck? My AR cl is $29k, so I was scratching my head on this one.  Win some, lose some.

Am EX | Barclay | BOA | Citi | Discover | USB | Current: EQ 742 TU 730 EX 756 300K Club
Message 2 of 6
Frequent Contributor

Re: US Bank Premier LOC


Viva-LV wrote:

 

I'm pretty sure its for a set amount.  Just beware, it'll be a hp if you apply.  I had just received my Alt Reserve, was solicited by a branch manager over the phone for the Premier LOC.  He said they'd use the same hp, but nope! A second hp, only to be denied.  It was only for $5k, so what the heck? My AR cl is $29k, so I was scratching my head on this one.  Win some, lose some.

How long have you been a customer with them? It says on the website at least 120 days, but I've heard 6 months is the unofficial minimum. I just hit that, so I'm going to apply in the next couple of weeks and see.

EQ: 792INQs: 4EX: 788INQs: 12TU: 775 (Split File - FIXED!)INQs: 9
AAoA: ~5.3 years, oldest account 16.5 years
Total Credit Line: $230K
Message 3 of 6
Regular Contributor

Re: US Bank Premier LOC


heyryan wrote:

Viva-LV wrote:

 

I'm pretty sure its for a set amount.  Just beware, it'll be a hp if you apply.  I had just received my Alt Reserve, was solicited by a branch manager over the phone for the Premier LOC.  He said they'd use the same hp, but nope! A second hp, only to be denied.  It was only for $5k, so what the heck? My AR cl is $29k, so I was scratching my head on this one.  Win some, lose some.

How long have you been a customer with them? It says on the website at least 120 days, but I've heard 6 months is the unofficial minimum. I just hit that, so I'm going to apply in the next couple of weeks and see.


About 15 years.  Always have had good service from USB.  Car loan offers, balance transfer offers.  Have two checking acc's, 4 cards with $57k exposure.

Am EX | Barclay | BOA | Citi | Discover | USB | Current: EQ 742 TU 730 EX 756 300K Club
Message 4 of 6
Valued Contributor

Re: US Bank Premier LOC


MIDWESTCOAST wrote:

Received a marketing email from these guys today, which feels good after working to rebuild(still in progress).  While this isn't a pre-qual or anything, I can't help but feel that it is somewhat targeted, since I've never received solicitations for this before in the 8 or 9 years I've banked with them.  I picked up my first two USB CC's in June, so I imagine that may have triggered some tailored marketing.  

 

Just wondering what thoughts were on the USB LOC from anyone who has had one.  Not planning on applying at the moment, as I have enough new accounts.  Was intrigued that the email listed the APR @11.25%, which seemed decent for this type of product.  I have the standard Reserve Line from them, but they told me they do not allow CLI's on it.  I assume they do on the Premier LIne, but please confirm if anyone knows.    


I applied for Hubby on 11/7 he has a checking acct since 6/17 just got a Kroger Visa in October, received the mailer and instant approved online for 20k....8 new accounts last year at least 10 inquires on each report in last 2 years. Pulled a new TU report also.

BK13 Filed 7/10-DC 8/15 // Fico 8's TU 763/ EQ 758/ EX 735 11/17// AAoA 5.8 years // Lines 11/2017= 240K // Inquiries 5 TU -11 Exp - 10 Eq. BK now off all all reports....WE CLOSED ON OUR HOUSE 6/7/2017 long hard road, but we made it !!!
Message 5 of 6
Super Contributor

Re: US Bank Premier LOC

Short and sweet ... was a USB customer for eight months with two credit cards, checking and savings plus reserve lines. Applied with a personal banker and was approved on the spot for $8K at 9.25%. Last year moved it up to $15K with 10%. Seems with USB they love you or not. Oh, interest rate is variable and floats with the prime. Of interest, reserve lines run under the banking side of USB and the Premier Line runs under the credit card side of the bank. Note, when doing their credit evaluations, they take all credit with the bank into consideration and in my case it created an AR with a $10K reduction in total (note: I had more credit with them than my annual income - so they were correct in adjusting things) credit.

Starting Score: 807
Current Score: 828
Goal Score: 850


Take the myFICO Fitness Challenge
Message 6 of 6