topic Re: US Bank or Garden in Credit Card Applications

US Bank or Garden

Caught750 — Fri, 02 Mar 2018 22:24:49 GMT

Hey all I have quite the dilemma. Im gardening but just got prequals with US Bank with solid APRs. Not sure if I should stay in the garden or grab just one more card. I don't have visa signature or US bank in my profile at all yet. Also, adding another prime lender that'll grow may be a smart move for me right now as I'll combine my Cap1 acts in 2.5 months.

Re: US Bank or Garden

Shadowfactor — Sat, 03 Mar 2018 01:55:34 GMT

Your scores in your sig are on the low end for USB. They do use FICO classic 4 for credit cards. What’s that score like ?

The Prequalified Offers probably mean you will get approved but witn your score it will be a very small limit. Most of the time it will be a HP for a CLI with them unless you receive a special offer and can use the SP link.

Re: US Bank or Garden

Caught750 — Sat, 03 Mar 2018 02:11:27 GMT

TU 4 is 690 and the APR is middle of the road for both cards. I'd only expect $500-1000 but it would leave me with only prime lenders. My income is high, util is super low, and DTI is also very low.

Re: US Bank or Garden

Shadowfactor — Sat, 03 Mar 2018 04:56:12 GMT

You will probably get an approval, just with a $500-$1000 SL.

What card are you thinking about applying for ?
You could probably get the cash+ or platnium. I doubt you would get an approval for the Altitude as the min line is 5K on that card

USB is a very conservative lender. They do manual reviews for almost every app even Prequalified. So expect to get the pending notice when you apply. You will probably get approved just for a small SL if you have the offers. Getting $500 at USB is like getting 2-3K at other places. They are that conservative.

They gave my fiancé only 4K on the FlexPerks with a 787 FICO and good income. I was added on a couple days after being approved. They are just conservative if you don’t have a banking relationship with them.

Re: US Bank or Garden

Caught750 — Sat, 03 Mar 2018 04:09:50 GMT

My scores are similar to yours, util 1 to 2%, and DTI is sub 20%. I have prequalified offers for cash+ and cash 365

Re: US Bank or Garden

Shadowfactor — Sat, 03 Mar 2018 04:50:20 GMT

Yes your scores are.

Although the situations are much different. I have a long banking and investment history with USB. They are a relationship bank.

Started out with a secured card with them. The FlexPerks card I have with the bank has a co-signer on it. The history with both cards plus my banking relationship witn them has helped to open doors to the Altitude im sure. Doubt I would have gotten approved for the card with the scores I have without those prior factors.

Re: US Bank or Garden

Caught750 — Sat, 03 Mar 2018 04:54:08 GMT

I've heard that about them. They aren't near me at all. I didn't mean the altitude, necessarily, that's banking customers only I believe. I just meant as far a half decent SL goes. Even if it is $500-1000 it would build a relationship with another prime lender, add another positive trade line, and build a file. I PIF too and make multiple payments so 1k is plenty. Hopefully near 6 figure and the other DPs would get me there even if it were through recon.

Re: US Bank or Garden

Shadowfactor — Sat, 03 Mar 2018 05:01:28 GMT

I edited my previous post probably as you were replying.

You can get an altitude being a customer of USB. Credit, mortgage, banking, investments. Any type of account qualifies you to be eligible for the account.

Do what you think is right. I think you have a good shot at getting approved with the Prequalified Offers if they have fixed APR’s. You can always recon the starting limit and try to get it higher.

Submit an app. They pull TU only where I live. Don’t freak out if it goes pending. They are mainly all manual reviews.

Good luck. Keep us updated

Re: US Bank or Garden

Caught750 — Sat, 03 Mar 2018 05:05:00 GMT

Thanks, I'll let you know.

Re: US Bank or Garden

Anonymous — Sat, 03 Mar 2018 05:54:30 GMT

I got saddled with two $500 approvals from them (Platinum and Cash+). I responded to prequalified offers. Couldn't get them to up them even tho others on the forum were able to get their intial limits increased. In hindsight I wish I had waited for my new accounts to age, garden and then app for them. I ended up closing them after meeting the SUB on Cash+.

Re: US Bank or Garden

bourgogne — Mon, 05 Mar 2018 00:14:55 GMT

@ShadowfactorGetting $500 at USB is like getting 2-3K at other places. They are that conservative.
^^^ word lol

Re: US Bank or Garden

Anonymous — Mon, 05 Mar 2018 01:07:38 GMT

About 6 month ago I had a prequalified offer from them as well. I bank with them, consistently have at least $10k in deposit accounts. They approved me for a meager $500 line on the Platinum card. This was on the weekend, so it went to manual review. I waited until Monday to call for a CLI. They asked how much I wanted my limit to be, asked the same questions for income, etc., and told me I’d find out within 7-10 days. I noticed the card in my account about 3 days later with a $4200 limit (what I asked for) Fico was low 700s

Re: US Bank or Garden

Caught750 — Mon, 05 Mar 2018 03:33:35 GMT

So, I've given this some thought. I will likely be out of the garden in a few months this for a car. At that point I'll have closer to a year history with revolving credit. I'll keep an eye on prequalified offers with them but unless the rates drop or new cards appear I'll likely let it go for a few months to have a better chance at a higher initial limit. I'd love to get in with US Bank but I also want it to be something that is more useful in the immediate than just an in for later.