topic Re: Cash+ 7-10 day message in Credit Card Applications

Cash+ 7-10 day message

thelethargicage — Wed, 18 Nov 2015 17:02:17 GMT

So I broke down and apped for the Cash+ yesterday and got the 7-10 message. I've been receiving solid prequals in the mail (single APR, not a range) as well as online. I used their prequal tool, got a "pre-approved" offer for Cash+ with 14.99% APR and $100 bonus after $500 spend. I called the underwriting department, but all they said was "App is being processed" and didn't offer to speed up the process.

My BBR hasn't reported yet, so I hope that helps.

How long do they usually take to give you an answer?

Re: Cash+ 7-10 day message

uswala — Wed, 18 Nov 2015 17:09:48 GMT

They do take 7-10 days to make decision. At least they did take that much time when I applied.

Re: Cash+ 7-10 day message

kdm31091 — Wed, 18 Nov 2015 17:11:08 GMT

It takes a few business days up to 10 but often less. They dont work like other lenders where you can call underwriting and speed it up. They wont do anything except tell you that it is processing. All you can do is wait.

Re: Cash+ 7-10 day message

Open123 — Wed, 18 Nov 2015 17:18:24 GMT

@thelethargicage wrote:
How long do they usually take to give you an answer?

For me, it's usually about 3 - 4 business days. As others have mentioned, you can call to expedite the process, but probably not worth the effort or time.

Re: Cash+ 7-10 day message

kdm31091 — Wed, 18 Nov 2015 17:21:27 GMT

Actually you cannot call and expedite...they dont do "on the spot" underwriting such as you can sometimes get with chase, barclay etc. You just have to wait it out

Re: Cash+ 7-10 day message

ojefferyo — Wed, 18 Nov 2015 18:08:34 GMT

Took about 3 day before I got an answer. I got the mailer in the mail with a solid APR also and applied. When I called to check she cautioned me about my inquires and not to get anymore lol. It was approved however.

Re: Cash+ 7-10 day message

celluloid17 — Wed, 18 Nov 2015 18:24:55 GMT

@thelethargicage wrote:
So I broke down and apped for the Cash+ yesterday and got the 7-10 message. I've been receiving solid prequals in the mail (single APR, not a range) as well as online. I used their prequal tool, got a "pre-approved" offer for Cash+ with 14.99% APR and $100 bonus after $500 spend. I called the underwriting department, but all they said was "App is being processed" and didn't offer to speed up the process.

My BBR hasn't reported yet, so I hope that helps.

How long do they usually take to give you an answer?

I hope you get it, especially with that sign-up bonus! I think you will since you've been getting offers.

It helps if you have a banking or past credit history with US Bank. I went into a branch to apply for mine (Feb. 2014) and I was approved instantly. I attribute that to the fact that my oldest open credit card is an Elan Visa, which is an arm of US Bank. I've found that once you're in with them, they are really loyal.

I've since opened up a Gold Checking account with US Bank since it's free when you have one of their credit products. The past few summers they've offered really nice checking account sign-up bonuses with easy to meet criteria (like paying three bills from it or setting up a direct deposit) and since there are no monthly fees, you can pretty much leave any amount in there. It's also easy to transfer your accumulated Cash + rewards to your checking account and then pay your credit balance with it. It's faster than doing the statement credit thing. So when you get approved for the Cash +, keep your eyes peeled for any offers to open a checking account with a sign-up bonus (like 'Power Up Your Summer' etc.). It would be handy to have in addition to your Cash +.

Re: Cash+ 7-10 day message

FinStar — Wed, 18 Nov 2015 18:36:59 GMT

@Open123 wrote:
@thelethargicage wrote:
How long do they usually take to give you an answer?
For me, it's usually about 3 - 4 business days. As others have mentioned, you can call to expedite the process, but probably not worth the effort or time.

If it's an online application, it may not get the expedited processing (i.e. calling everyday). However, there are instant approvals contrary to what someone posted above since they do happen (not as frequent but they do) and maybe OP can see if visiting a branch may assist with expediting the application. Typically, for this to happen, a relationship with US Bank would help, but if it's a matter of 3-5 business days, not really worth it in the end unless the card is needed right away.

ETA: mine was expedited via the branch when this product was restricted geographically a couple years ago - took 2 business days. Other applications I've just simply let them run their course unless I'm close to a branch.

Re: Cash+ 7-10 day message

brewcrew87 — Wed, 18 Nov 2015 19:49:16 GMT

@FinStar wrote:

If it's an online application, it may not get the expedited processing (i.e. calling everyday). However, there are instant approvals contrary to what someone posted above since they do happen (not as frequent but they do) and maybe OP can see if visiting a branch may assist with expediting the application. Typically, for this to happen, a relationship with US Bank would help, but if it's a matter of 3-5 business days, not really worth it in the end unless the card is needed right away.

ETA: mine was expedited via the branch when this product was restricted geographically a couple years ago - took 2 business days. Other applications I've just simply let them run their course unless I'm close to a branch.

Yeah I can vouch that instant online approvals do happen... I applied last Friday and was instantly approved (no preapprovals via mail or on their website and not even a US Bank customer).

Kind of bummed that I missed out on that $100 bonus offer. I am guessing US Bank isn't one to retroactively extend offers like that? Still waiting on the card to get mailed to me, but I might make a phone call when it comes and try anyway.

Re: Cash+ 7-10 day message

FinStar — Wed, 18 Nov 2015 20:15:07 GMT

@uecker4life wrote:
@FinStar wrote:

If it's an online application, it may not get the expedited processing (i.e. calling everyday). However, there are instant approvals contrary to what someone posted above since they do happen (not as frequent but they do) and maybe OP can see if visiting a branch may assist with expediting the application. Typically, for this to happen, a relationship with US Bank would help, but if it's a matter of 3-5 business days, not really worth it in the end unless the card is needed right away.

ETA: mine was expedited via the branch when this product was restricted geographically a couple years ago - took 2 business days. Other applications I've just simply let them run their course unless I'm close to a branch.
Yeah I can vouch that instant online approvals do happen... I applied last Friday and was instantly approved (no preapprovals via mail or on their website and not even a US Bank customer).

Kind of bummed that I missed out on that $100 bonus offer. I am guessing US Bank isn't one to retroactively extend offers like that? Still waiting on the card to get mailed to me, but I might make a phone call when it comes and try anyway.

They can. As long as you have the screenshot of the offer vs when you got approved (if it's within a reasonable timeframe), you can fax it to them so they can review it and honor it. When you initially contact them abot this, just speak to a supervisor so they can note the account accordingly. Check your PM.

Re: Cash+ 7-10 day message

Kidcat — Wed, 18 Nov 2015 21:28:19 GMT

Mine took about a week, and I already had an REI card. This has become my favorite card, and I opened a Money Market as others have said to deposit my cash

Re: Cash+ 7-10 day message

Anonymous — Wed, 18 Nov 2015 22:39:27 GMT

I've been receiving constant offers fot this card and it show up online. It's not showing me a $100 bonus offer. Based on APR below, is it solid?

APR

0% introductory APR*** on balance transfers for the first 9 billing cycles. After that, a variable APR applies, currently 12.99%-23.99% based on your creditworthiness.

Re: Cash+ 7-10 day message

FinStar — Wed, 18 Nov 2015 23:31:24 GMT

@Anonymous wrote:
I've been receiving constant offers fot this card and it show up online. It's not showing me a $100 bonus offer. Based on APR below, is it solid?
APR
0% introductory APR*** on balance transfers for the first 9 billing cycles. After that, a variable APR applies, currently 12.99%-23.99% based on your creditworthiness.

This sounds more like an invitation versus one that has an exact APR after intro. When I received the FlexPerks AmEx pre-approved invite (branch and online) it displayed a "set" APR versus a range, then it went into manual review for a few days and eventually aproved. I don't think this one would be a solid offer but maybe others who have seen similar can chime in.

Re: Cash+ 7-10 day message

CreditDunce — Thu, 19 Nov 2015 04:25:21 GMT

@Anonymous wrote:
I've been receiving constant offers fot this card and it show up online. It's not showing me a $100 bonus offer. Based on APR below, is it solid?
APR
0% introductory APR*** on balance transfers for the first 9 billing cycles. After that, a variable APR applies, currently 12.99%-23.99% based on your creditworthiness.

No, it has a range of APR's. The good offers have a specific APR. When I opened a US Bank Checking account last summer, they gave me a pre-approval with an exact APR and SL. I chose the card I wanted (there were two offers). About a week later I had the card.

Re: Cash+ 7-10 day message

Anonymous — Thu, 19 Nov 2015 05:35:18 GMT

@FinStar wrote:
@Anonymous wrote:
I've been receiving constant offers fot this card and it show up online. It's not showing me a $100 bonus offer. Based on APR below, is it solid?
APR
0% introductory APR*** on balance transfers for the first 9 billing cycles. After that, a variable APR applies, currently 12.99%-23.99% based on your creditworthiness.
This sounds more like an invitation versus one that has an exact APR after intro. When I received the FlexPerks AmEx pre-approved invite (branch and online) it displayed a "set" APR versus a range, then it went into manual review for a few days and eventually aproved. I don't think this one would be a solid offer but maybe others who have seen similar can chime in.

You're right. I keep reading about how set APR's have a much higher prob of approval vs range. I won't apply until odds are in favor as I am in no hurry to apply for Cash + at this time. It's all aboyt patience lol thanks for your info

Re: Cash+ 7-10 day message

Anonymous — Thu, 19 Nov 2015 05:37:04 GMT

@CreditDunce wrote:
@Anonymous wrote:
I've been receiving constant offers fot this card and it show up online. It's not showing me a $100 bonus offer. Based on APR below, is it solid?
APR
0% introductory APR*** on balance transfers for the first 9 billing cycles. After that, a variable APR applies, currently 12.99%-23.99% based on your creditworthiness.
No, it has a range of APR's. The good offers have a specific APR. When I opened a US Bank Checking account last summer, they gave me a pre-approval with an exact APR and SL. I chose the card I wanted (there were two offers). About a week later I had the card.

US Bank called me few weeks and anted me apply but decided to wait. Lady said she'll call be again in Dec and I'll tell her if it aint set I aint applying lol!!!

Re: Cash+ 7-10 day message

Anonymous — Fri, 20 Nov 2015 02:32:19 GMT

It's also showing me (Mod Cut-Please dont post your personal info in the public view its for your protection, thanks) and it states 0% introductory APR** on purchases and balance transfers for the first 15 billing cycles. After that, a variable APR applies, currently 15.99%

I am assuimg that's a set APR. I have one of their business card but a lousy $500 limit.

Re: Cash+ 7-10 day message

CreditDunce — Fri, 20 Nov 2015 02:17:08 GMT

@Anonymous wrote:
It's also showing me DELETE LINK and it states 0% introductory APR** on purchases and balance transfers for the first 15 billing cycles. After that, a variable APR applies, currently 15.99%

I am assuimg that's a set APR. I have one of their business card but a lousy $500 limit.

1) It is a solid offer. Most credit cards now have variable interest rates.

2) Posting personalized links is verboten on this site. Even if it wasn't the link allows anyone to app for the card in your name. Not the best idea. If you want a better link to use, try:

https://www.usbank.com/small-business/credit-cards/business-edge-select-rewards.html

Re: Cash+ 7-10 day message

Anonymous — Fri, 20 Nov 2015 02:20:24 GMT

@CreditDunce wrote:
@Anonymous wrote:
It's also showing me DELETE LINK and it states 0% introductory APR** on purchases and balance transfers for the first 15 billing cycles. After that, a variable APR applies, currently 15.99%

I am assuimg that's a set APR. I have one of their business card but a lousy $500 limit.
1) It is a solid offer. Most credit cards now have variable interest rates.
2) Posting personalized links is verboten on this site. Even if it wasn't the link allows anyone to app for the card in your name. Not the best idea. If you want a better link to use, try:
https://www.usbank.com/small-business/credit-cards/business-edge-select-rewards.html

Thanks for the info! oooops I just copied the text and wasn't aware it would end up as a link!

Re: Cash+ 7-10 day message

CreditDunce — Fri, 20 Nov 2015 02:50:46 GMT

Glad to be of some help. The US Bank business edge card looks to be a decent card. If the reward structure works for your business, it might be worth applying for.

If you don't already have a CreditKarma account, it wouldn't hurt to get one. I don't think the link would have worked for someone to change your address and apply for the card. However, it would be a good idea to take a peek at your TU credit report. US Bank normally pulls TU.