topic Re: US Bank FlexPerks Denial in Credit Card Applications

US Bank FlexPerks Denial

MakeItAMudLight — Tue, 29 Jan 2019 20:38:07 GMT

I applied for the US Bank FlexPerks Visa a couple weeks ago as it was showing a preapproval with a set 16.24% rate. I got the 7-10 day message and got the letter yesterday that I was declined for the number of inquiries on my TU report. It showing a score of 730. I have 12 inquires. Two are from the last six months. One from this application and the other from an auto loan. Is it worth even trying to recon?

Re: US Bank FlexPerks Denial

FinStar — Tue, 29 Jan 2019 20:43:19 GMT

No harm in trying but no guarantees either.
Most of the time they tend to stick with the original decision. Do you currently have an exiting USB relationship?

Re: US Bank FlexPerks Denial

MakeItAMudLight — Tue, 29 Jan 2019 20:45:49 GMT

@FinStar wrote:
No harm in trying but no guarantees either.
Most of the time they tend to stick with the original decision. Do you currently have an exiting USB relationship?

Not directly. I'm an AU on my wife's Cash+ card for a few years now. I noticed they randomly SP my TU and EQ every few month but I don't know if that means anything.

Re: US Bank FlexPerks Denial

Anonymous — Tue, 29 Jan 2019 20:46:29 GMT

i would definently recon !! The worse they can say is no which is still the same outcome your already in, so might as welll see if can get an approvable. Alot stories on here with all different banks with peope who have been able to get denials into approvals. So you never know, you may get someone in a good mood and is willing to help you out.

Also, I thought AutoLoan INQ's if ran with in couple days of each other if there are multiple inquires, but are counted as 1 INQ when lenders look at them?

good luck !

Re: US Bank FlexPerks Denial

MakeItAMudLight — Tue, 29 Jan 2019 20:54:14 GMT

Also, I thought AutoLoan INQ's if ran with in couple days of each other if there are multiple inquires, but are counted as 1 INQ when lenders look at them?
good luck !

It was only a single inquiry so no need to group them.

Re: US Bank FlexPerks Denial

Shadowfactor — Tue, 29 Jan 2019 20:55:20 GMT

@Anonymous wrote:
i would definently recon !! The worse they can say is no which is still the same outcome your already in, so might as welll see if can get an approvable. Alot stories on here with all different banks with peope who have been able to get denials into approvals. So you never know, you may get someone in a good mood and is willing to help you out.
Also, I thought AutoLoan INQ's if ran with in couple days of each other if there are multiple inquires, but are counted as 1 INQ when lenders look at them?
good luck !

You can recon the decision. It will be another HP though.

USB is a very sensitive lender with no prior relationship. Once you have a relationship with the bank and that relationship has been kept in good standing its easier to get approved for cards with tons of HP and new accounts.

I was just approved with 11 inq and 18 new accounts within 24 months.

Re: US Bank FlexPerks Denial

FinStar — Tue, 29 Jan 2019 20:55:35 GMT

@Anonymous wrote:
i would definently recon !! The worse they can say is no which is still the same outcome your already in, so might as welll see if can get an approvable. Alot stories on here with all different banks with peope who have been able to get denials into approvals. So you never know, you may get someone in a good mood and is willing to help you out.
Also, I thought AutoLoan INQ's if ran with in couple days of each other if there are multiple inquires, but are counted as 1 INQ when lenders look at them?
good luck !

Just for clarification @Anonymous, auto finance inquiries will still be visible individually to a lender. It's the scoring factors that would have the 'bundled' effect if properly coded. So, if the dealer tried the shotgun approach, all those inquiries would not count as one.

Re: US Bank FlexPerks Denial

MakeItAMudLight — Tue, 29 Jan 2019 22:06:20 GMT

I was just approved with 11 inq and 18 new accounts within 24 months.

Was this your first card with them?

Re: US Bank FlexPerks Denial

Shadowfactor — Tue, 29 Jan 2019 23:49:33 GMT

@MakeItAMudLight wrote:
I was just approved with 11 inq and 18 new accounts within 24 months.
Was this your first card with them?

No, it’s technically my 3rd card with them which is why I explained how USB is a relationship bank

Re: US Bank FlexPerks Denial

Anonymous — Wed, 30 Jan 2019 03:59:03 GMT

@Shadowfactor

"I was just approved with 11 inq and 18 new accounts within 24 months."

Re: US Bank FlexPerks Denial

Winesnoblv — Wed, 30 Jan 2019 19:01:23 GMT

I would try to recon, but US Bank has been difficult for me to understand. Having an 18 year banking relationship and along with an overdraft line of credit, I decided to apply for the Altitude Reserve last year at my branch. It was went to a manual review and was approved later that day for $5k. I called and was able to increase the limit to $10k simply by asking. However, I also applies for the PLOC the same time, being told there would only be 1 HP since it was the same department. I was denied due to not having credit experience with them even though I had a line of credit for 18 years with no issues. In addition, they did a second HP for the PLOC.

Good luck!