topic Re: US Bank Req Amount of time to wait? in Credit Cards

US Bank Req Amount of time to wait?

Anonymous — Tue, 12 Jan 2016 05:05:39 GMT

Does anyone know if theres a required amount of time you have to wait before apping for another card with us bank?

(Please stay on topic)

Re: US Bank Req Amount of time to wait?

NRB525 — Tue, 12 Jan 2016 05:15:21 GMT

When did you app? Is that the $300 Cash Rewards in your siggy?

Which card are you considering?

Re: US Bank Req Amount of time to wait?

Themanwhocan — Tue, 12 Jan 2016 05:26:05 GMT

@Anonymous wrote:
Does anyone know if theres a required amount of time you have to wait before apping for another card with us bank?

(Please stay on topic)

When I was first starting out, I applied for a second US Bank card about 2.5 months after the first. However, US Bank back dates cards to the 1st of the month, so if that was considered then I applied 3 months later. $8,500 and $6,500 limits. Those were my 1st and 4th unsecured credit cards.

And though you didn't ask, If you submit a successful CLI request, you have to wait 6 months before your next request on that card.

Re: US Bank Req Amount of time to wait?

FinStar — Tue, 12 Jan 2016 05:50:37 GMT

Interesting.

Re: US Bank Req Amount of time to wait?

Anonymous — Tue, 12 Jan 2016 05:54:44 GMT

@Themanwhocan wrote:
@Anonymous wrote:
Does anyone know if theres a required amount of time you have to wait before apping for another card with us bank?

(Please stay on topic)
When I was first starting out, I applied for a second US Bank card about 2.5 months after the first. However, US Bank back dates cards to the 1st of the month, so if that was considered then I applied 3 months later. $8,500 and $6,500 limits. Those were my 1st and 4th unsecured credit cards.

And though you didn't ask, If you submit a successful CLI request, you have to wait 6 months before your next request on that card.

So I'm going to assume theres no required wait time for us bank.

Re: US Bank Req Amount of time to wait?

Anonymous — Tue, 12 Jan 2016 05:55:28 GMT

@NRB525 wrote:
When did you app? Is that the $300 Cash Rewards in your siggy?
Which card are you considering?

Do you know if there's a required amount of time to wait? This has no relevance to me. I'm only asking that one question.

Re: US Bank Req Amount of time to wait?

Themanwhocan — Tue, 12 Jan 2016 06:23:20 GMT

@Anonymous wrote:
@Themanwhocan wrote:
@Anonymous wrote:
Does anyone know if theres a required amount of time you have to wait before apping for another card with us bank?

(Please stay on topic)
When I was first starting out, I applied for a second US Bank card about 2.5 months after the first. However, US Bank back dates cards to the 1st of the month, so if that was considered then I applied 3 months later. $8,500 and $6,500 limits. Those were my 1st and 4th unsecured credit cards.

And though you didn't ask, If you submit a successful CLI request, you have to wait 6 months before your next request on that card.
So I'm going to assume theres no required wait time for us bank.

Both cards were requested in a US Bank, and both cards were instant approvals. Also, I applied for an Elan card (Elan and US Bank are subsidiaries of US Bancorp) about a week after my 1st card, and was approved for $4,500. My 3rd card was a $2000 discover it the next day, because they required me to call and verify my home address.

Re: US Bank Req Amount of time to wait?

ddemari — Tue, 12 Jan 2016 06:24:47 GMT

Us bank won't approve me with my last TU FICO 04 at 758. I
Think getting one us bank credit card is an accomplishment, so if you could get 2 out of them in less than 90 days that's amazing!

Re: US Bank Req Amount of time to wait?

Anonymous — Tue, 12 Jan 2016 07:18:30 GMT

@ddemari wrote:
Us bank won't approve me with my last TU FICO 04 at 758. I
Think getting one us bank credit card is an accomplishment, so if you could get 2 out of them in less than 90 days that's amazing!

Which one did you app for? Have you tried recon?

And you're lucky they pulled TU for you....my EX CR is dying lol.

Re: US Bank Req Amount of time to wait?

Anonymous — Tue, 12 Jan 2016 07:18:44 GMT

@Themanwhocan wrote:
@Anonymous wrote:
@Themanwhocan wrote:
@Anonymous wrote:
Does anyone know if theres a required amount of time you have to wait before apping for another card with us bank?

(Please stay on topic)
When I was first starting out, I applied for a second US Bank card about 2.5 months after the first. However, US Bank back dates cards to the 1st of the month, so if that was considered then I applied 3 months later. $8,500 and $6,500 limits. Those were my 1st and 4th unsecured credit cards.

And though you didn't ask, If you submit a successful CLI request, you have to wait 6 months before your next request on that card.
So I'm going to assume theres no required wait time for us bank.
Both cards were requested in a US Bank, and both cards were instant approvals. Also, I applied for an Elan card (Elan and US Bank are subsidiaries of US Bancorp) about a week after my 1st card, and was approved for $4,500. My 3rd card was a $2000 discover it the next day, because they required me to call and verify my home address.

Thanks for the data point TMWC. Appreciate it.

Re: US Bank Req Amount of time to wait?

takeshi74 — Tue, 12 Jan 2016 14:31:34 GMT

@Anonymous wrote:
Do you know if there's a required amount of time to wait? This has no relevance to me. I'm only asking that one question.

This is a discission forum. If NRB's rely is not relevant then ignore it. We are free to ask questions, discuss, etc.

As far as NRB's comment is concerned, if you received a low limit with US Bank it's certaily relevant. A creditor's policy on application spacing and whether or not your credit profile and income qualify for approval are two entirely different things and you have to be able to clear both hoops.

Re: US Bank Req Amount of time to wait?

BigBS — Tue, 12 Jan 2016 17:06:56 GMT

I applied for my first US Bank Cash + card in May 2014 (near the 20th I think) and was approved with a $12.5k limit. Received a pre-approval letter for a Cash + 2 weeks later and mistakenly app'd, but again was approved for $16.5k. I say mistakenly because I thought I had confirmation that there would be no HP, but there was. So, 2 approvals within about a 3 week period for the same card. Neither the CSR or UW indicated an issue with timing.

Re: US Bank Req Amount of time to wait?

Ghoshida — Tue, 12 Jan 2016 17:15:32 GMT

This is a YMMV situation.

My first US Bank card (REI co-branded) was in Aug 2013. (EX, SL 1k, now 5k)

Second card (Cash+) in Oct 2014. (EX, SL 8.5k, now 11.5k)

Third (Cash+ #2) and fourth (Club Carlson co-branded) were both in June 2015 and 10 minutes apart. They pulled TU and EQ respectively. In hindsight, it wasn't the best decision because while I got a 5k SL on the Cash+, I got only 1k on the Club Carlson.

On the CLIs, as TMWC said, it's a gap of 6 months between SP CLIs on the same card (mostly $1,500). However you can apply for SP CLIs on multiple cards at the same time.

Re: US Bank Req Amount of time to wait?

Anonymous — Tue, 12 Jan 2016 18:43:09 GMT

@takeshi74 wrote:
@Anonymous wrote:
Do you know if there's a required amount of time to wait? This has no relevance to me. I'm only asking that one question.
This is a discission forum. If NRB's rely is not relevant then ignore it. We are free to ask questions, discuss, etc.

As far as NRB's comment is concerned, if you received a low limit with US Bank it's certaily relevant. A creditor's policy on application spacing and whether or not your credit profile and income qualify for approval are two entirely different things and you have to be able to clear both hoops.

By asking his question, it seemed like he knew something about us bank. I wanted an answer to my original question in my original post and title, and the way he phrased his question, it seemed as if he had some knowledge about this. If this is a discussion forum then why can't I ask questions to bring it back to my topic?....

Re: US Bank Req Amount of time to wait?

Anonymous — Tue, 12 Jan 2016 20:02:22 GMT

I hope you will take this in a friendly and helpful way, which is my intention in mentioning it. We care about each other on the board and want to help each other make the right choices. It's a strong message US Bank is sending if the last card they recently approved you for is a $300 credit limit.

Re: US Bank Req Amount of time to wait?

ojefferyo — Tue, 12 Jan 2016 18:51:42 GMT

A $300 CL is obviously telling you something.

Re: US Bank Req Amount of time to wait?

Ghoshida — Tue, 12 Jan 2016 19:58:06 GMT

Also note that US Bank uses the other credit reports too. So it's not just EX, EQ and TU.

Re: US Bank Req Amount of time to wait?

ojefferyo — Tue, 12 Jan 2016 20:17:12 GMT

@Ghoshida wrote:
Also note that US Bank uses the other credit reports too. So it's not just EX, EQ and TU.

yeah forgot about that

Re: US Bank Req Amount of time to wait?

lg8302ch — Tue, 12 Jan 2016 20:17:25 GMT

That 300$ approval should be an alarm message to you. Do not app for anything right now and if your goal is Cash+ do not app but grow your CL up to 5K on Cash Rewards and then convert to Cash+ so you can keep the account history. Do use the card regularly and you should see auto luv from US Bank. This of course if you stop apping immediately and refrain for the next year at least .. just my 2cents..

Re: US Bank Req Amount of time to wait?

dragontears — Tue, 12 Jan 2016 21:02:23 GMT

I know this is not going to be the answer you want to hear but I will say it anyway.

More than any other lender I have had experience with US Bank will go off of what your credit profile supports not X days from the last app. Since their approval model generally requires manual review, all of your AU accounts will be dismissed from consideration leaving you with a profile that is less than a year old and that has had a rapid increase in credit lines. These factors can be red flags to creditors (especially the conservative ones) and with such a young profile they have no way of gauging how risky you are yet.

The $300 approval you have gotten recently from US Bank indicates they are not comfortable with your profile and you should not apply for anything with them for at least 6 months.

You are, of course, free to ignore the advice given to you in this thread and apply for other products but I fear you will be denied and waste a HP.