topic Re: U.S. Bank Business Leverage Offer in Business Credit

U.S. Bank Business Leverage Offer

MansaMusa — Wed, 10 Mar 2021 16:42:48 GMT

I've desired a business card with U.S. Bank for a few years. I have a personal account with them, but my business operates in a GEO restricted state for them. Years ago I used to receive occasional business credit card offers in the mail from U.S. Bank, but as soon as I was ready to apply the offers stopped, or the offer they sent was for one of the cards I didn't desire. I apped for one of the others and was denied because of GEO restrictions. Monday I received an email offer to apply but it's for their Business Leverage annual fee card; I don't do annual fee cards. I would possible consider if U.S.Bank didn't have such a reputation for ultra-conservative credit lines. Has anyone else in a U.S. Bank GEO restricted state been receiving Business credit card offers?

Re: U.S. Bank Business Leverage Offer

mikeef — Fri, 19 Mar 2021 23:24:14 GMT

@MansaMusa wrote:
I don't do annual fee cards.

My sister is the same way about annual fees, but I don't personally understand this line of thinking, its a very linear way of thinking that has no logical base if you don't calculate the numbers. In business and in life you're in the red or the black, up or down when it comes to money. So as long you are on top when you calculate the bottomline, its all that matters.

For example, my business got invited two years ago to apply for Chase Ink Preferred. It came with a $99 annual fee, but I got 100,000 bonus points after spending so much in the first few months. So all I did was pay all of my bills on the card until I reached bonus points threshold and then I cashed them out for $1000 in cash.

The bottomline: I was up $901 in the black after the $99 annual fee. These were general business expenses I put on the card that had to be paid regardless if I got the card or didn't. Principles like "refusing to get a card with annual fee" are principles without a purpose when they end up costing you more money in the long run.

Re: U.S. Bank Business Leverage Offer

jaxstraw — Tue, 23 Mar 2021 01:09:34 GMT

There is a way to get around the USBank geo-fence.

There was a post about it on this forum last year.....the OP had success....which I tried and it worked also.

The geo-fence is not in place for applicants for a USBank brokerage account.

Once you open a brokerage account .....you then can open a business checking account....which then allows you to apply for business credit cards ( with no annual fee).

Deposit $25 in the brokerage account if you don't plan on using it.....and then close it 6-12 months later.

Here is the link....

https://ficoforums.myfico.com/t5/Business-Credit/USBank-Business-Cash-Rewards-Approval/td-p/6112747

Re: U.S. Bank Business Leverage Offer

MansaMusa — Fri, 26 Mar 2021 22:41:27 GMT

Your response is extremely presumptive, and you're right in that you don't understand my line of thinking. Just because something is illogical to your line of thinking doesn't make it a fact. I'm very capable of calculating rewards and understanding how I can offset those cost for a period of time with said rewards. I choose to execute my credit line strategies differently, and use my limited credit pulls/new accounts on a plethora of other cards that don't have fees. I also said that I might consider it if US Bank were not so conservative with credit lines. I.E., I would possibly pay annual fees for a card with a generous credit line. In addition I have LOCs with annual fees. With that being said, you don't know me, my credit profile, my credit goals, or how I use my credit so don't be so quick to pass judgement with limited information.

@mikeef wrote:
@MansaMusa wrote:
I don't do annual fee cards.
My sister is the same way about annual fees, but I don't personally understand this line of thinking, its a very linear way of thinking that has no logical base if you don't calculate the numbers. In business and in life you're in the red or the black, up or down when it comes to money. So as long you are on top when you calculate the bottomline, its all that matters.

For example, my business got invited two years ago to apply for Chase Ink Preferred. It came with a $99 annual fee, but I got 100,000 bonus points after spending so much in the first few months. So all I did was pay all of my bills on the card until I reached bonus points threshold and then I cashed them out for $1000 in cash.

The bottomline: I was up $901 in the black after the $99 annual fee. These were general business expenses I put on the card that had to be paid regardless if I got the card or didn't. Principles like "refusing to get a card with annual fee" are principles without a purpose when they end up costing you more money in the long run.

Re: U.S. Bank Business Leverage Offer

MansaMusa — Fri, 26 Mar 2021 22:42:45 GMT

Thanks Jax, I will give this a try.

@jaxstraw wrote:
There is a way to get around the USBank geo-fence.
There was a post about it on this forum last year.....the OP had success....which I tried and it worked also.
The geo-fence is not in place for applicants for a USBank brokerage account.
Once you open a brokerage account .....you then can open a business checking account....which then allows you to apply for business credit cards ( with no annual fee).
Deposit $25 in the brokerage account if you don't plan on using it.....and then close it 6-12 months later.

Here is the link....

https://ficoforums.myfico.com/t5/Business-Credit/USBank-Business-Cash-Rewards-Approval/td-p/6112747

Re: U.S. Bank Business Leverage Offer

FinStar — Sun, 28 Mar 2021 03:29:25 GMT

I would like to provide a quick reminder as far as responses or comments on the forums. This isn't a place for snippy remarks so let's watch our tone, please. As per the myFICO Forums User Guidelines and TOS, all responses need to be Friendly, Supportive and Respectful - no exceptions.

Thank you for your cooperation.

-FS