topic Re: Preapproval for OD/Personal LOC w/Bank Acct in Credit Card Applications

Preapproval for OD/Personal LOC w/Bank Acct

Anonymous — Thu, 16 Feb 2017 15:21:12 GMT

When I opened my USBank account I got a preapproval for a Line of Credit for $5k. No extra hard pull was done, just the soft for the checking.

Are there any other banks or CUs (besides Navy or Penfed) that do this that anyone knows of?

Re: Preapproval for OD/Personal LOC w/Bank Acct

Anonymous — Thu, 16 Feb 2017 17:06:55 GMT

I would like to know this information as well

Re: Preapproval for OD/Personal LOC w/Bank Acct

Aduke1122 — Thu, 16 Feb 2017 18:44:18 GMT

Wells Fargo has a LOC and I've read of several others BOA I believe and several CUs which I can't think of the name of right off hand

Re: Preapproval for OD/Personal LOC w/Bank Acct

Aduke1122 — Thu, 16 Feb 2017 18:44:51 GMT

Also what account did you open with US Bank?

Re: Preapproval for OD/Personal LOC w/Bank Acct

Anonymous — Thu, 16 Feb 2017 19:41:29 GMT

I have lots with US Bank.
If you have a CC get the Gold Package which is a checking, money market savings and both are free with no minimums because you have the CC. If you don't have a CC get the Silver package.

I have like 8 accounts with them but I believe I got my preapproval for the LOC when I opened my checking.

Re: Preapproval for OD/Personal LOC w/Bank Acct

Anonymous — Thu, 16 Feb 2017 19:42:34 GMT

Aduke...were WF and BoA preapproval a for the LoC tho? I'm more wondering if anyone else does what USB does and gives them with a preapproval. It's nice to get that TL with no HP

Re: Preapproval for OD/Personal LOC w/Bank Acct

Aduke1122 — Thu, 16 Feb 2017 20:32:35 GMT

Oh sorry I didn't understand your question, I am not sure of the preapproval or not , but I'm very interested in US Bank , how did the process go for you ? Did you app online or in branch . Which CB did they SP for you and what were your scores at the time if you don't mind me asking 😊

Re: Preapproval for OD/Personal LOC w/Bank Acct

Anonymous — Fri, 17 Feb 2017 01:43:01 GMT

It's a soft pull on TU... I did it online and at the time my scores were probably between 700-730 maybe?!?
You just app for the account and at the end on the extra options screen it will ask if you want it if you are preapproved. My BF got it as well-and he only had roughly a 670 but got it for 2k and the reserve line versus the personal line. Both are LOC but one is called a reserve and min SL is 2k and the PLOC min SL is 5k. The benefits are the same but the PLOC has a better APR.

Re: Preapproval for OD/Personal LOC w/Bank Acct

Aduke1122 — Fri, 17 Feb 2017 05:42:45 GMT

Thanks for the info , I didn't read your comment in time , I was opening an acct online today , I just got the Easy Checking ...it didn't have an extras option ..so I guess I was not preapproved for anything

Re: Preapproval for OD/Personal LOC w/Bank Acct

Anonymous — Fri, 17 Feb 2017 11:29:10 GMT

Sorry. Just because it didn't happen today doesn't mean it won't tho. You can get the preapproval anytime you log in. They will be in red at the top of the screen.

Either way you will like USB. They really value banking relationships so if you keep your accounts in good standing I bet you will get one sooner or later, whether for the LOC or a CC.

Re: Preapproval for OD/Personal LOC w/Bank Acct

Aduke1122 — Fri, 17 Feb 2017 19:48:09 GMT

Thanks again for the advice ..so yesterday when I opened my checking online it said I was approved and I ordered my debit and checks and made my deposit . It sent me an approval email and said I would be notified when I can use my acct? So I'm wondering how long does it take for me to be able to set up my online acct?

Re: Preapproval for OD/Personal LOC w/Bank Acct

Anonymous — Sat, 18 Feb 2017 17:35:06 GMT

Honestly I can't remember. I thought I picked my user and pass at time of application and was able to sign in right away. Maybe I'm wrong tho. I guess you could call. They are always very nice and you don't have to wait forever (tho maybe weekends are different)

Once you can keep checking for the big red bar and that's a preapproval.

Re: Preapproval for OD/Personal LOC w/Bank Acct

Aduke1122 — Sat, 18 Feb 2017 17:58:48 GMT

I had to go to the local branch and get a temp debit , bc in order to set up online acct you have to give your pin number so I did all of that and got it all set up . Thanks for the help

Re: Preapproval for OD/Personal LOC w/Bank Acct

Anonymous — Sat, 18 Feb 2017 18:24:05 GMT

Np. I hope you get some preapprovals soon.

Re: Preapproval for OD/Personal LOC w/Bank Acct

Aduke1122 — Sat, 18 Feb 2017 18:29:15 GMT

Thanks me too , I'm still working hard on bringing my scores up , I was stuck at 650s forever but it has finally started to move a bit upward now

Re: Preapproval for OD/Personal LOC w/Bank Acct

Anonymous — Sat, 18 Feb 2017 19:48:51 GMT

Oh good. I would think once you pass 675 you should get approved for the Reserve Line -it's a 2k min versus the Personal line which is a 5k min.

Re: Preapproval for OD/Personal LOC w/Bank Acct

Aduke1122 — Sun, 19 Feb 2017 06:43:51 GMT

OK thanks for explaining the diff between the 2 diff Locs I was trying to figure it out last night ..

Re: Preapproval for OD/Personal LOC w/Bank Acct

Anonymous — Sun, 19 Feb 2017 09:01:31 GMT

The other diff is the RLOC has a higher APR.

Re: Preapproval for OD/Personal LOC w/Bank Acct

Aduke1122 — Sun, 19 Feb 2017 18:13:13 GMT

OK I see