topic Re: US Bank pre-quals in Credit Card Applications

US Bank pre-quals

aircobra — Fri, 15 Mar 2019 18:07:52 GMT

How solid are these? I am pre-qualified for 3 and am really interested in the Cash+ ($150 back after spending $500, 0% APR for 15 months, 18.24% after). My TU score should now be somewhere around 730 and my overall UTI is 9%. I'd love to have the card but I am worried about the dreaded 500 SL.

Re: US Bank pre-quals

Remedios — Fri, 15 Mar 2019 18:21:09 GMT

To me, US Bank prequals are a good sign but seeing how many apps end up being manually reviewed, it's a guessing game really

Re: US Bank pre-quals

pinkandgrey — Fri, 15 Mar 2019 21:36:21 GMT

They tend to be sort of conservative and prefer prior relationship. I’ve seen some people have great success, though, even without any prior relationship. But we can’t all get to the big leagues of a full one thousand SL

Re: US Bank pre-quals

Anonymous — Sat, 16 Mar 2019 02:10:00 GMT

I had no prior relationship with US Bank and I got prequal for the Cash+. My TU was about 718 (Fako Vant3) maybe 730-740 FICO. I got accepted with $1k SL, AAoA 7 mo, 3 new <1 mo. I wouldn't worry about the $500 SL, recon is usually good, and if that doesn't work, it's still a foot in the door. Treat them right and you should be good. I think you have a good shot.

Re: US Bank pre-quals

K-in-Boston — Sat, 16 Mar 2019 02:45:10 GMT

Both of my prequals were solid with US Bank. I got one of the fabled $500 SLs on my Cash+, but a quick call to underwriting had that to $15k (I should have asked for more). A year later I grabbed the Altitude Reserve with another prequal and it was a $14,000 SL. Zero relationship prior to that Cash+ for me, but certainly people here report much better outcomes when they do already have a relationship.

Re: US Bank pre-quals

aircobra — Sat, 16 Mar 2019 04:28:06 GMT

So I read in another topic how it might help to apply for a checking account first (or at the same time). I saw on their site that they have a special program for those that qualify based on credit score (I was qualified and applied). Once I finished applying for it, a pop-up came up saying I was pre-qualified for 2 cards, one being the Cash+. Unfortunately it wasn't the same offer I got when checking pre-quals. While it showed my credit limit would be $2500 and the SUB, it was not showing the 0% APR on purchases for 15 months. I decided to re-check the pre-quals and they were still the same, so I app'ed through that. I didn't get an instant decision (which apparently is normal for them). Did I screw up by not doing the pre-qual through my checking accoutn application, or should I still get the credit limit they were showing?

Re: US Bank pre-quals

RickNATL — Sat, 16 Mar 2019 16:38:34 GMT

Aircobra, can you report back what you find out?

Re: US Bank pre-quals

aircobra — Sat, 16 Mar 2019 19:08:46 GMT

@RickNATL wrote:
Aircobra, can you report back what you find out?

So I got ahold of Underwriting (after like 40 minutes on the phone). Apparently both applications went through, even though I didn't submit the first one. She said the first one (which was the offer after setting up a checking account), was for $2500 but no 0% purchase promo and the one that I did on its own was only for $1000. She said she could cancel the first one and request a higher limit for the second one, since it has the better offer. I asked for $3000 and she approved it (she said she normally doesn't do this for customers, whether that's true, I didn't really care). Said that I still had to wait 24-48 hours for final processing but I asked if I was pretty much approved, and she said yeah.

I'm quite happy given the horror stories of the $500 SL. I cannot say for sure that applying for a checking account during or prior to app'ing for a card helped but since the Gold checking had the offer, I couldn't pass it up. Hopefully my experience helps those on the fence.

Re: US Bank pre-quals

Indianaguy — Sun, 17 Mar 2019 14:47:17 GMT

curious how many hard pulls did they do for everything? opening the checking account and the 2 approved cards?

Re: US Bank pre-quals

Anonymous — Sun, 17 Mar 2019 15:33:09 GMT

I'd been eye balling this card for a little piece of a while and would check for the pre-quals every so often. When my scores were up there would be several offers, when it was down (usually due to the number of accounts) sometimes there wouldn't be any. I felt pretty confident about thier offerings. I had no prior relationship with US Bank when I apped last week. My TU was about 726 at last check and I have opened about 3 or 4 accounts already this year alone. I pulled the trigger expecting 1) manual review and 2) a very conservative limit. It was essentially instantly approved for 3K. Not a huge limit by some standards but I'm more than ok with it given the reputation of the notorious $500 limits.

Re: US Bank pre-quals

UncleB — Sun, 17 Mar 2019 16:15:20 GMT

Since the application was approved this thread is now locked. @aircobra is welcome to start a new thread in 'Credit Card Approvals' if he wishes to do so.

--UB