topic Re: US Bank Cash+ Denial, Should I Recon? in Credit Card Applications

US Bank Cash+ Denial, Should I Recon?

Anonymous — Thu, 15 Aug 2019 19:25:03 GMT

Applied for the US Bank Cash+ on 8/4/19, got the 7-10 days. 3 days later, I called the 800 number and got a denial. Letter came in today, reason was "too many tradelines opened in the last 12 months." They pulled TU FICO 9 Classic with a Score of 749. Should I recon this or let it go? And is it another HP for recon?

5 new accounts in the last 12 months. 5 inquiries in the last 12 months on TU.

Re: US Bank Cash+ Denial, Should I Recon?

FinStar — Thu, 15 Aug 2019 19:35:05 GMT

The reason cited for the decline is typically not prone for reconsideration, unfortunately. That said, you can always try, but be aware that they can HP again based on known DPs, so your outcome would definitely vary if you decide to pursue it.

Re: US Bank Cash+ Denial, Should I Recon?

Anonymous — Thu, 15 Aug 2019 19:45:52 GMT

@FinStar wrote:
The reason cited for the decline is typically not prone for reconsideration, unfortunately. That said, you can always try, but be aware that they can HP again based on known DPs, so your outcome would definitely vary if you decide to pursue it.

Thanks @FinStar , I will just garden for a while. 3 accounts will age over 1 years in the next few months.

Re: US Bank Cash+ Denial, Should I Recon?

Anonymous — Thu, 15 Aug 2019 20:50:26 GMT

Do you have a banking relationship with U.S. Bank? That would certainly help in terms of approvals.

It wouldn't cost you anything to recon so I'd suggest doing so. You can call U.S. Bank Underwriting Services at (800) 974-1444 and press the option to speak with a representative. They are usually very pleasant to deal with so dont be hesitant, just make sure you have your possible reasons/explanations lined up. The person you speak with can't do the recon but they will resubmit your application into the underwriting queue for a fresh look by another underwriter.

Re: US Bank Cash+ Denial, Should I Recon?

Remedios — Thu, 15 Aug 2019 21:13:29 GMT

I was computer denied for 2 new accounts (maybe three, I've lost count) but it was approved on recon.

No second HP was done. It is at their discretion whether they want to send it back for review or not, but you really have nothing to lose by asking.

If you get a "no" on a first try, don't bother calling again.

Six months with no new accounts should do the trick.

Re: US Bank Cash+ Denial, Should I Recon?

kdm31091 — Thu, 15 Aug 2019 21:45:01 GMT

Typically too many new accounts/inquiries is tough to overcome with US Bank. As stated not much to lose by trying; maybe on manual review a rep will be more lenient. That said, it's definitely harder to get a succesful recon with a lot of banks these days. Unless there's an error/mistake the decision tends to stand when it's based on things like too many inquiries or new accounts. But, nothing to lose as long as you understand another HP could be done (doesn't always happen, but keep in mind).

Re: US Bank Cash+ Denial, Should I Recon?

Anonymous — Thu, 15 Aug 2019 21:53:38 GMT

@Anonymous wrote:
Do you have a banking relationship with U.S. Bank? That would certainly help in terms of approvals.

It wouldn't cost you anything to recon so I'd suggest doing so. You can call U.S. Bank Underwriting Services at (800) 974-1444 and press the option to speak with a representative. They are usually very pleasant to deal with so dont be hesitant, just make sure you have your possible reasons/explanations lined up. The person you speak with can't do the recon but they will resubmit your application into the underwriting queue for a fresh look by another underwriter.

I have a business checking with US Bank. No personal account. Does that count?

Re: US Bank Cash+ Denial, Should I Recon?

Anonymous — Thu, 15 Aug 2019 22:52:58 GMT

@Remedios wrote:
I was computer denied for 2 new accounts (maybe three, I've lost count) but it was approved on recon.
No second HP was done. It is at their discretion whether they want to send it back for review or not, but you really have nothing to lose by asking.

If you get a "no" on a first try, don't bother calling again.
Six months with no new accounts should do the trick.

I tried calling, but they are closed. Will try tomorrow morning.

Re: US Bank Cash+ Denial, Should I Recon?

Anonymous — Thu, 15 Aug 2019 22:54:01 GMT

@kdm31091 wrote:
Typically too many new accounts/inquiries is tough to overcome with US Bank. As stated not much to lose by trying; maybe on manual review a rep will be more lenient. That said, it's definitely harder to get a succesful recon with a lot of banks these days. Unless there's an error/mistake the decision tends to stand when it's based on things like too many inquiries or new accounts. But, nothing to lose as long as you understand another HP could be done (doesn't always happen, but keep in mind).

It's not the end of the world if I don't get approve. Will try to recon tomorrow morning.

Re: US Bank Cash+ Denial, Should I Recon?

Anonymous — Thu, 15 Aug 2019 22:56:50 GMT

@Anonymous US Bank has a "Customer Relations Score" or something like that. Since you already have a Business Checking there may be an opportunity. Usually helps for the personal USB products. Do not know for the business. Good luck!

Re: US Bank Cash+ Denial, Should I Recon?

Anonymous — Fri, 16 Aug 2019 04:10:59 GMT

@Anonymous wrote:
@AnonymousUS Bank has a "Customer Relations Score" or something like that. Since you already have a Business Checking there may be an opportunity. Usually helps for the personal USB products. Do not know for the business. Good luck!

Thanks! Will find out when I call them tomorrow. I have a business checking with them since 2006.

Re: US Bank Cash+ Denial, Should I Recon?

shoegal — Sat, 17 Aug 2019 05:27:17 GMT

I was denied for 2 accounts with a 769 EQ 09 and I didn’t had a banking relationship with them, yet. I tried to recon and it was a no go.

Re: US Bank Cash+ Denial, Should I Recon?

Anonymous — Sat, 17 Aug 2019 05:47:07 GMT

@shoegal wrote:
I was denied for 2 accounts with a 769 EQ 09 and I didn’t had a banking relationship with them, yet. I tried to recon and it was a no go.

My recon was a no go. 5 accounts in 12 months is 4 too many according to the UW.

Re: US Bank Cash+ Denial, Should I Recon?

Anonymous — Sat, 17 Aug 2019 05:56:40 GMT

@Anonymous wrote:
@shoegal wrote:
I was denied for 2 accounts with a 769 EQ 09 and I didn’t had a banking relationship with them, yet. I tried to recon and it was a no go.
My recon was a no go. 5 accounts in 12 months is 4 too many according to the UW.

Sorry to hear that the recon was denied...seems like they have really tightened up. When I was approved for the Cash+ I had opened 11 cards and 2 installment loans in the preceding 8 months and they had no problems. But prior to applying for the card I opened checking, savings, and money market accounts so that must have helped.

Re: US Bank Cash+ Denial, Should I Recon?

Anonymous — Sat, 17 Aug 2019 06:17:16 GMT

@Anonymous wrote:
@Anonymous wrote:
@shoegal wrote:
I was denied for 2 accounts with a 769 EQ 09 and I didn’t had a banking relationship with them, yet. I tried to recon and it was a no go.
My recon was a no go. 5 accounts in 12 months is 4 too many according to the UW.

Sorry to hear that the recon was denied...seems like they have really tightened up. When I was approved for the Cash+ I had opened 11 cards and 2 installment loans in the preceding 8 months and they had no problems. But prior to applying for the card I opened checking, savings, and money market accounts so that must have helped.

They definitely tighten up. The UW told me to try again next May when I will have 0 new account. lol My 13 years business checking with them didn't help.

Re: US Bank Cash+ Denial, Should I Recon?

kdm31091 — Sat, 17 Aug 2019 21:27:45 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@shoegal wrote:
I was denied for 2 accounts with a 769 EQ 09 and I didn’t had a banking relationship with them, yet. I tried to recon and it was a no go.
My recon was a no go. 5 accounts in 12 months is 4 too many according to the UW.

Sorry to hear that the recon was denied...seems like they have really tightened up. When I was approved for the Cash+ I had opened 11 cards and 2 installment loans in the preceding 8 months and they had no problems. But prior to applying for the card I opened checking, savings, and money market accounts so that must have helped.
They definitely tighten up. The UW told me to try again next May when I will have 0 new account. lol My 13 years business checking with them didn't help.

US Bank is pretty conservative, especially on a manual review. A human underwriter is very unlikely to overlook several new accounts. They have tightened up more and more it seems; they were giving many people with very good to excellent credit a $500 SL on the Cash+ for quite awhile. (Some) people were able to get it bumped, but the fact that $500 was given to begin with shows how conservative that bank can be.

If you're set on the card I would at the very least have 0 new accounts in 6 months when you apply for it, although if the UW suggested a year then that's an even safer bet.

Re: US Bank Cash+ Denial, Should I Recon?

morgacj2004 — Sun, 18 Aug 2019 22:18:51 GMT

Isn't that funny how these banks work. What you are saying is what happened to me in regards to BofA. US Bank on the other hand recently approved me for the Club Carlson, Fred Meyers both with 10k+ Cl and this past week I got a pre approval in the mail for the plat Visa card. I might take them up on that one as it has an 18 month zero APR on BT with 3% BT fee. Similar to Discover BT card or CITI DC

Re: US Bank Cash+ Denial, Should I Recon?

Anonymous — Mon, 19 Aug 2019 01:08:44 GMT

So, back in 2/2018 I apped for Cash+ / 365 for the sub's with a 759 EQ 05 score since they're a bit old school on using the mortgage model.

- computer denied

- recon / asked and was due to inq's / resubmit

- approved 1K/ea which was useless / resubmit again for 25K/ea

- counter to 10K/ea ($300 in free cash from the bonuses) + $25 GC for redeeming $100 on the cash+ )

USB is about as reliable for forcasting what you'll be approved for let alone what the rules are for getting approved. Once you're in though it's going to a take an act of congress to kick you out.

Are they worth spedning time on long term? *shrug* My impression is it's a basic card outside of the intiial SUB other than the 5% options for specific uses it's kind of bland for a daily use card. With it being 2019 as well... why do they still insist on charging FTF's on a VS/Amex card? They showed their true colors on both cards when using them on e-bay and getting hit a few days later with the extra FTF charge. Since then they get basic domestic bills applied to them and nothing else.

It made me go back and check other cards that might have FTF's hidden in the T&C's and found Citi DC / BBT / BBVA have them as well. I guess I was spoiled until I went outside of tier 1 lenders and CU's that don't nickel and dime... though I would never "bank" with them when it comes to checking/savings.

Re: US Bank Cash+ Denial, Should I Recon?

Anonymous — Mon, 19 Aug 2019 16:51:36 GMT

@kdm31091 wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@shoegal wrote:
I was denied for 2 accounts with a 769 EQ 09 and I didn’t had a banking relationship with them, yet. I tried to recon and it was a no go.
My recon was a no go. 5 accounts in 12 months is 4 too many according to the UW.

Sorry to hear that the recon was denied...seems like they have really tightened up. When I was approved for the Cash+ I had opened 11 cards and 2 installment loans in the preceding 8 months and they had no problems. But prior to applying for the card I opened checking, savings, and money market accounts so that must have helped.
They definitely tighten up. The UW told me to try again next May when I will have 0 new account. lol My 13 years business checking with them didn't help.
US Bank is pretty conservative, especially on a manual review. A human underwriter is very unlikely to overlook several new accounts. They have tightened up more and more it seems; they were giving many people with very good to excellent credit a $500 SL on the Cash+ for quite awhile. (Some) people were able to get it bumped, but the fact that $500 was given to begin with shows how conservative that bank can be.

If you're set on the card I would at the very least have 0 new accounts in 6 months when you apply for it, although if the UW suggested a year then that's an even safer bet.

I just want the Cash+ as a way in to get the Altitude Reserve. I am just going to skip the Cash+ altogether.

Re: US Bank Cash+ Denial, Should I Recon?

Anonymous — Mon, 19 Aug 2019 16:53:24 GMT

@morgacj2004 wrote:
Isn't that funny how these banks work. What you are saying is what happened to me in regards to BofA. US Bank on the other hand recently approved me for the Club Carlson, Fred Meyers both with 10k+ Cl and this past week I got a pre approval in the mail for the plat Visa card. I might take them up on that one as it has an 18 month zero APR on BT with 3% BT fee. Similar to Discover BT card or CITI DC

Yeah, every bank is so different. At least US Bank likes your profile.