topic Re: US Bank in Credit Cards

US Bank

Rackham94 — Fri, 27 May 2016 19:17:31 GMT

Do they provide automated decisions or are rejections always mailed?

I recently was approved for PenFed card and wanted another card to age with it since I haven't app'd in awhile. Is there a way to check status I was taken to a generic page.

'With Thank you for applying decision will be mailed 3-7 business days.'

Thank you,

Neftali

Re: US Bank

dragontears — Fri, 27 May 2016 19:29:02 GMT

@Rackham94 wrote:
Do they provide automated decisions or are rejections always mailed?

I recently was approved for PenFed card and wanted another card to age with it since I haven't app'd in awhile. Is there a way to check status I was taken to a generic page.

'With Thank you for applying decision will be mailed 3-7 business days.'

Thank you,

Neftali

99% of the time US Bank does manual review and it takes several days to get a decision.

The exceptions are when you have a long history with them and/or high scores it is possible to get instant approvals.

Re: US Bank

Rackham94 — Fri, 27 May 2016 19:32:57 GMT

Thanks for information, just received notification the system initiated an automated application decline. I called Underwriting according to this user's post

http://ficoforums.myfico.com/t5/Credit-Cards/US-Bank-Recon-Number/m-p/814942/highlight/true#M244241?filter=location&location=forum-board%3Acreditcard&q=US+Bank+recon

The representative said he will submit for manual review and I received an email saying 'Your application has been received' and to check back or call back 3-5 business days.

What are my chances? He said they denied based on number of inquiries in 4 month period but I only had one in the last 72 hours.

Re: US Bank

dragontears — Fri, 27 May 2016 19:36:19 GMT

What are you current scores? AAoA? Length of banking relationship with US Bank?

Re: US Bank

Rackham94 — Fri, 27 May 2016 19:45:23 GMT

AAoA= 3.2 years

Highest CL: $20k (AMEX)

Util: 12%

No relationship with US Bank

no baddies

Re: US Bank

creditguy — Fri, 27 May 2016 19:52:21 GMT

For what it's worth US Bank is a relationship bank, that's not to say approval can't be had without a relationship but it sometimes makes the difference.

Re: US Bank

ddemari — Fri, 27 May 2016 23:58:31 GMT

I had never any luck with us bank. Their core cards like non retail I still can't get. But I did get three instant approvals with one tu pull for hobby lobby visa, ace rewards visa and club Carlson visa lol. I was shocked!

Re: US Bank

RonM21 — Sun, 29 May 2016 20:14:15 GMT

It would be nice if you eventually updated with better news of an approval. The inquiry reason is.strange if you only had one during the period of time mentioned.

Re: US Bank

Rackham94 — Wed, 01 Jun 2016 02:23:56 GMT

Sure thing bud,

I called today to check the status and they mentioned it was on last step of application process which is Fraud Review and I should have a decision tomorrow or Thursday.

Re: US Bank

Rackham94 — Wed, 01 Jun 2016 19:36:11 GMT

UPDATE: I called into the underwriting backdoor number listed on here to check status

I was approved, but I talked to a rep and mentioned it was only a $1k limit...

It is the Cash Reward Visa Platinum..

Anyway to return this and get my inquiry back??

Lesson learned: READ THE FINE PRINT

If you do not qualify for the U.S. Bank Cash+™ Visa Signature® Card, you will automatically be considered for the U.S. Bank Cash Rewards Visa® Card that earns 1% cash back on all net purchases, but does not offer the 5% and 2% Cash+ Categories.

Re: US Bank

Rackham94 — Thu, 02 Jun 2016 03:16:46 GMT

Any suggestions or past experiences, anecdotes?

Re: US Bank

takeshi74 — Thu, 02 Jun 2016 13:18:33 GMT

Don't rely on the relationship meme. If you qualify, you qualify. If you don't you don't. Relationship will not overrule the primary considerations with any creditor. I had no problems with US Bank with no prior relationship. YMMV depending on your credit and income.

@Rackham94 wrote:
What are my chances? He said they denied based on number of inquiries in 4 month period but I only had one in the last 72 hours.

If inquiries are cited then they are a symptom, not a cause. Inquiries always means "inquiries for your profile". With a stronger profile, inquiries have less impact.

@Rackham94 wrote:
I was approved, but I talked to a rep and mentioned it was only a $1k limit...

Limits are set based on profile and income. A low limit indicates that the creditor has concerns with your profile.

@Rackham94 wrote:
Any suggestions or past experiences, anecdotes?

Don't overlook prior threads as a resource. Don't just rely on anecdotes. Everyone's credit isn't idenitical so the experiences of others that don't have similar enough profiles to your own will not be relevant.

It's also a bit late at this point as you've been approved for the Cash Rewards card.

Re: US Bank

Rackham94 — Thu, 16 Jun 2016 17:45:32 GMT

They were able to PC to Cash Rewards Plus, but I had to submit a new application. The underwriting rep mentioned it would flag the application and count it as one hard inquiry from the inital application.

They mentioned it would be considered a 'Line Swap' and move the credit line from the Cash Rewards (Non Signature) to the signature card and close out former account.

Not sure if this is a merger or a credit card that would technically only be opened for 2 days and then replaced with the new signature version.

Re: US Bank

Anonymous — Thu, 16 Jun 2016 19:10:20 GMT

@Rackham94 wrote:
Do they provide automated decisions or are rejections always mailed?

I recently was approved for PenFed card and wanted another card to age with it since I haven't app'd in awhile. Is there a way to check status I was taken to a generic page.

'With Thank you for applying decision will be mailed 3-7 business days.'

Thank you,

Neftali

I worked for US Bank, and we gave instant decisions most of the time. If you were not approved or if it was pending, it would simply say "Pending". Before I left the bank, we saw people in the 680 range getting our prime cards. I remember someone getting the FlexPerks Travel Visa Sig with a 676 with TransUnion one time. If you have a denial, we would know immediately as we are able to see the full credit report and fico. We are able to see the same thing with approvals. If a denial is given, we are told to say, "The card is pending approval" and blah blah blah, "you will have a deicison here in a few days, call us back"... or however you want to word it.

Re: US Bank

Ghoshida — Thu, 16 Jun 2016 20:13:39 GMT

@Anonymous wrote:
@Rackham94 wrote:
Do they provide automated decisions or are rejections always mailed?

I recently was approved for PenFed card and wanted another card to age with it since I haven't app'd in awhile. Is there a way to check status I was taken to a generic page.

'With Thank you for applying decision will be mailed 3-7 business days.'

Thank you,

Neftali
I worked for US Bank, and we gave instant decisions most of the time. If you were not approved or if it was pending, it would simply say "Pending". Before I left the bank, we saw people in the 680 range getting our prime cards. I remember someone getting the FlexPerks Travel Visa Sig with a 676 with TransUnion one time. If you have a denial, we would know immediately as we are able to see the full credit report and fico. We are able to see the same thing with approvals. If a denial is given, we are told to say, "The card is pending approval" and blah blah blah, "you will have a deicison here in a few days, call us back"... or however you want to word it.

Surprisingly, this has not been my experience with US Bank ever.

I got two low-tier (REI platinum, and Club Carlson Platinum), and two high-tier (Cash+ x2) cards with them.

I don't even remember how long REI took because I didn't use to track apps back then.

My first Cash+ took 9 actual days to be approved.

My second Cash+ and the Club Carlson weren't instant. I had to call in over 2-3 days to get it sorted out. The last guy, who handed me a $1k Club Carlson, after I got two Cash+ cards, was even saying something like "you have no credit" and I couldn't understand what he meant, at all. Anyway, that was exactly a year ago, and I closed that card a few days ago. Can't waste AFs

So maybe the culture changed since you left US Bank.

Re: US Bank

Anonymous — Thu, 13 Oct 2016 02:54:03 GMT

Bit of a thread necro, sorry.

Was interested in their Cash+ Visa Signature. I like the two 5% categories, along with a 2% on gas/dining that don't rotate.

My scores around right around 800 for all 3.

No previous relationship with US Bank.

Got an online approval for a 1k limit on the Cash+ Visa Signature card. Then got an email saying "your application may be subject to further verification". yadda-yadda 7-10 days by mail.

So I think I got approved for the signature? 1k limit is very low but I'm assuming is par for this bank. At least I got the signature card.

Re: US Bank

Anonymous — Thu, 13 Oct 2016 03:42:03 GMT

You should be able to recon CL...jus let UW know you want to use same HP.

Now I was told if CLI on recon was $5000-$10000 same HP can be used

Please Update us

Re: US Bank

Anonymous — Thu, 13 Oct 2016 06:14:47 GMT

Wow 800 scores and only a $1K limit...

Re: US Bank

Anonymous — Thu, 13 Oct 2016 06:46:06 GMT

I have 3 cards with US Bank and a banking relationship
I have never been instantly approved... they are a very conservative lender, all my cards started out at 5k but have grown considerably