topic Re: US Bank Cards in Credit Card Applications

US Bank Cards

Matt9543 — Sat, 06 Jun 2020 02:59:27 GMT

I've seen around recently that in order to be eligible for close to any of US Bank's cards, you can only have 1 account opened in the last 12 months. Has anybody found themselves approved around that? Also, does having a relationship with US Bank also help with possible approvals? I've been looking at the reported new Altitude Go, but also was waiting until at least the end of June when I have about 3 inquiries dropping off of my Experian report. (I'm not sure what bureau they pull). If anybody has any other recommendations for applying for a US Bank card, I'll glad take them.

Thank you!

Re: US Bank Cards

Anonymous — Sat, 06 Jun 2020 03:19:25 GMT

That was not the case when I opened my account.

Re: US Bank Cards

Matt9543 — Sat, 06 Jun 2020 03:43:33 GMT

@Anonymous wrote:
That was not the case when I opened my account.

Having more than 1 card opened in the previous 12 months? How many did you have if you don't mind me asking?

Re: US Bank Cards

Anonymous — Sat, 06 Jun 2020 04:46:42 GMT

Anything more than 1/12 has most often been an auto decline although quite a few got it overturned if they were 0/6 and under 3/12.

A relationship does help. Get a savings account and park $300 in it. This has worked for a few members. Also if the Go is anything like the regular Altitude, they'll require you to already have a product with them anyway.

Your best chance with US Bank is to go in with 1/12 or less but if you're good at recon, you can get away with more sometimes. Other times they'll flat out refuse to send it to UW for a second look for too many new accounts.

Re: US Bank Cards

Andypanda — Sat, 06 Jun 2020 05:13:19 GMT

When i opened my first cash+ card i was 4/12 when i opened my 2nd i was at 3/12. First wad opened jan 2018, 2nd was feb 2020.

Re: US Bank Cards

Matt9543 — Sat, 06 Jun 2020 05:47:33 GMT

@Anonymous wrote:
Anything more than 1/12 has most often been an auto decline although quite a few got it overturned if they were 0/6 and under 3/12.

A relationship does help. Get a savings account and park $300 in it. This has worked for a few members. Also if the Go is anything like the regular Altitude, they'll require you to already have a product with them anyway.

Your best chance with US Bank is to go in with 1/12 or less but if you're good at recon, you can get away with more sometimes. Other times they'll flat out refuse to send it to UW for a second look for too many new accounts.

I'll probably go ahead and open the gold checking account (get the because you deserve it program) and see if I can just move money in there for a little bit and see what I can get when I apply later this year.

Re: US Bank Cards

Anonymous — Sat, 06 Jun 2020 05:50:11 GMT

@Matt9543 wrote:
@Anonymous wrote:
Anything more than 1/12 has most often been an auto decline although quite a few got it overturned if they were 0/6 and under 3/12.

A relationship does help. Get a savings account and park $300 in it. This has worked for a few members. Also if the Go is anything like the regular Altitude, they'll require you to already have a product with them anyway.

Your best chance with US Bank is to go in with 1/12 or less but if you're good at recon, you can get away with more sometimes. Other times they'll flat out refuse to send it to UW for a second look for too many new accounts.
I'll probably go ahead and open the gold checking account (get the because you deserve it program) and see if I can just move money in there for a little bit and see what I can get when I apply later this year.

Yeah I went with BYEI since they shot me down twice for new accounts. I figure it's a very good sign that they let me have a checking account since my last checking account, reserve line, and credit card with them went into my 2010 BK. If they give me another chance with a credit card, that won't happen again.

Re: US Bank Cards

Matt9543 — Sat, 06 Jun 2020 05:55:00 GMT

@Andypanda wrote:
When i opened my first cash+ card i was 4/12 when i opened my 2nd i was at 3/12. First wad opened jan 2018, 2nd was feb 2020.

Do you recall what cra they pulled? And did you get approved online or have to call and recon?

Re: US Bank Cards

coldfusion — Sat, 06 Jun 2020 12:13:17 GMT

@Matt9543 wrote:
@Andypanda wrote:
When i opened my first cash+ card i was 4/12 when i opened my 2nd i was at 3/12. First wad opened jan 2018, 2nd was feb 2020.
Do you recall what cra they pulled? And did you get approved online or have to call and recon?

USBank usually pulls Transunion and one should also expect that they will pull a report from Sagestream.

Re: US Bank Cards

Wavester64 — Sat, 06 Jun 2020 14:13:31 GMT

@coldfusion wrote:
@Matt9543 wrote:
@Andypanda wrote:
When i opened my first cash+ card i was 4/12 when i opened my 2nd i was at 3/12. First wad opened jan 2018, 2nd was feb 2020.
Do you recall what cra they pulled? And did you get approved online or have to call and recon?
USBank usually pulls Transunion and one should also expect that they will pull a report from Sagestream.

Yup, TU here for my denial

Re: US Bank Cards

Anonymous — Sat, 06 Jun 2020 16:06:50 GMT

In January, 2017, I was 4/12 and 2/6 when US Bank approved me for its World MC with a SL of $4500. No prior relationship. FWIW: 12/24 when I applied.

Re: US Bank Cards

Remedios — Sat, 06 Jun 2020 16:43:10 GMT

US Bank has undergone UW changes around January-February 2019.

Any data points prior to that are slightly less useful now.

I was originally denied for Cash+ in March 2019 for new accounts. I had two in the past year. Cash+ was approved during recon call.

AR auto approved only 45 days later.

They've tightened UW criteria even more since.

Relationship wise, no clue. I've seen denials for Cash+ and AR for those who've banked with them for a decade or longer.

As far as opening gold checking, I went that route when I wanted Cash+. I was preapproved for one of the flex perk cards, but I didnt want that one, and the act of me changing it in conjunction with new accounts led to a denial.

So if you open gold checking and dont take a card they offer, it might lead to a different outcome.

Stashing a few hundreds in checking is not a "relationship", if such thing exists.

US Bank is not very focused on CC lending, though that might be changing now. Cards are simply a way to get you to do more business with them, which I have been doing because I "like" them, and I like them because they give me what I ask for.

The moment that changes, I'm going to like them less 🤷‍♀️

Re: US Bank Cards

Matt9543 — Sat, 06 Jun 2020 20:09:00 GMT

@Remedios wrote:
US Bank has undergone UW changes around January-February 2019.
Any data points prior to that are slightly less useful now.

I was originally denied for Cash+ in March 2019 for new accounts. I had two in the past year. Cash+ was approved during recon call.
AR auto approved only 45 days later.
They've tightened UW criteria even more since.
Relationship wise, no clue. I've seen denials for Cash+ and AR for those who've banked with them for a decade or longer.

As far as opening gold checking, I went that route when I wanted Cash+. I was preapproved for one of the flex perk cards, but I didnt want that one, and the act of me changing it in conjunction with new accounts led to a denial.
So if you open gold checking and dont take a card they offer, it might lead to a different outcome.

Stashing a few hundreds in checking is not a "relationship", if such thing exists.
US Bank is not very focused on CC lending, though that might be changing now. Cards are simply a way to get you to do more business with them, which I have been doing because I "like" them, and I like them because they give me what I ask for.
The moment that changes, I'm going to like them less 🤷‍♀️

That's interesting, so when you opened the account they showed you were pre-approved for a card? I hadn't heard of that so I'm just curious. And when it comes to checking accounts, I'm open to having multiple accounts. It makes it easier when fraud happens and I don't get all my money locked up for multiple days.

Re: US Bank Cards

Remedios — Sat, 06 Jun 2020 20:51:23 GMT

Yes, it has a card preapproval, albeit one that would have been useless to me.

It's the last step, I believe there were 7 or 9 tabs to complete.

I opened checking and got Cash+ because I didnt think they would approve AR. While Cash+ didn't seem like a great card to me at the time, it was better than flex perks.

Now, Cash+ is definitely one of my favorite cards that's not travel related. I dont have to get creative to max out categories, and I love the 5% categories they offer.

AR is the current love of my credit life.

I ended up using them for banking also.

In case you didn't notice, I'm US Bank fangirl.

Re: US Bank Cards

Matt9543 — Sat, 06 Jun 2020 20:57:47 GMT

@Remedios wrote:
Yes, it has a card preapproval, albeit one that would have been useless to me.
It's the last step, I believe there were 7 or 9 tabs to complete.

I opened checking and got Cash+ because I didnt think they would approve AR. While Cash+ didn't seem like a great card to me at the time, it was better than flex perks.
Now, Cash+ is definitely one of my favorite cards that's not travel related. I dont have to get creative to max out categories, and I love the 5% categories they offer.
AR is the current love of my credit life.

I ended up using them for banking also.

In case you didn't notice, I'm US Bank fangirl.

Well, I know who to go to if I have questions! I also looked at the AR, seems pretty good, if you're traveling. Which I'm not doing a whole ton yet. I like the credit is more generic than having to choose an airline and only getting credits on that specific airline's incidentals. Also, have you heard about the Go? It seems like it's going to be a pretty good card as well, going to wait and see what they show for it.

Re: US Bank Cards

Remedios — Sat, 06 Jun 2020 21:08:35 GMT

Altitude Go is about to be released but I'll wait for Altitude Connect if I decide to add more cards.

In order to get $500.00 SUB at the launch, app will need to be done in branch.

There is no info yet what the sub will be after the launch.

I haven't really decided yet. I want it, but I also dont need any more cards 🤷‍♀️

Re: US Bank Cards

Matt9543 — Sat, 06 Jun 2020 21:25:47 GMT

@Remedios wrote:
Altitude Go is about to be released but I'll wait for Altitude Connect if I decide to add more cards.
In order to get $500.00 SUB at the launch, app will need to be done in branch.
There is no info yet what the sub will be after the launch.

I haven't really decided yet. I want it, but I also dont need any more cards 🤷‍♀️

I have inquiries dropping off of my report middle of June, so I'm going to wait until then and see how everything is. Only thing that sucks is that the branch near my house is closed and the branch at my work is closed as well, so I'm not sure how far out of the way I will go to apply for the card just to get the SUB.

Re: US Bank Cards

Anonymous — Sat, 06 Jun 2020 22:06:23 GMT

@Matt9543 wrote:
I've seen around recently that in order to be eligible for close to any of US Bank's cards, you can only have 1 account opened in the last 12 months. Has anybody found themselves approved around that? Also, does having a relationship with US Bank also help with possible approvals? I've been looking at the reported new Altitude Go, but also was waiting until at least the end of June when I have about 3 inquiries dropping off of my Experian report. (I'm not sure what bureau they pull). If anybody has any other recommendations for applying for a US Bank card, I'll glad take them.
Thank you!

i don't think that is the case with everybody, i apply for the cash+ visa signature on march 26 and got approve and as soon i got the card i call them and the double the credit line with another hp and they pull equifax both times, on january i got a blue cash amex and on feb i got the the bofa rewards, i live in florida. good luck applying anyways but be careful if you recon bcuz the will pull your credit again.

Re: US Bank Cards

kdm31091 — Sat, 06 Jun 2020 23:00:12 GMT

I would not go out of my way to open a checking account I did not need, just to stash a paltry amount of money, in hopes of a CC approval. If a bank does care about "relationship" (if that even exists, like someone else said), a few hundred bucks is not going to move the needle much in your favor. In cases where it appeared to "help" someone, there's no way to know whether they may have been approved anyway (i.e. their inquiries have aged, etc).

I don't think the 1 in 12 is a set in stone rule but US Bank is very conservative and even more so these days so the fewer inquiries you have the better.

The new card seems like a good deal but like most especially generous cash back cards, it seems pretty much doomed unless they get a lot of people carrying a balance or using it for 1% charges etc. 4% cash back on dining with no fee, no hoops to jump through, etc, as we've seen, is tough for banks (even US Bank's Cash+ used to have 5% on general restaurants, not just fast food, and they took it away). We'll see how it plays out but I can't see it lasting more than a year or two. Hopefully I am wrong.

Re: US Bank Cards

K-in-Boston — Sat, 06 Jun 2020 23:25:41 GMT

@Anonymous wrote:
I don't think that is the case with everybody, i apply for the cash+ visa signature on march 26 and got approve and as soon i got the card i call them and the double the credit line with another hp and they pull equifax both times, on january i got a blue cash amex and on feb i got the the bofa rewards, i live in florida. good luck applying anyways but be careful if you recon bcuz the will pull your credit again.

HPs for recon are very much YMMV. When I got my Cash+ in 2017, I was one a number of people here with an extremely surprising $500 approval. I called the day that my card arrived and I discovered the starting line, and got it increased to $15,000 with no additional pull.

Were both the Amex and BoA cards showing on your credit reports at the time you applied? They don't seem to be too concerned with inquiries, but new accounts showing have definitely hurt the outcome of many approvals over the past year or so.