Do you have an existing banking relationship with US Bank? If you don't, it might help your future app if you establish one. Also, if you get the Gold Pkg checking/savings, you can receive an additional 25% on the 1% cash back portion. Or, if you get the Platinum Pkg, I believe it's an extra 50% on the 1% cash back portion.
I have the US Bank Cash+ and also have the Amex Blue Cash Everyday (might pc to the Preferred next year after the 13-months is up). I love both cards and highly recommend them.
While I did not have any charge-offs or collections, I did have one 30-day late from February 2010 and I also had four 30-day lates from 2008. Both Amex and US Bank did not seem to have a problem with the lates. I think your lates are old enough that they wouldn't be a problem. But definitely wait for those collections to drop off your reports before you app. Also, get that utility down and you should greatly increase your chances of approval.
Best of Luck to you!
