topic Re: US bank cash+ Visa Signature limit in Credit Cards

US bank cash+ Visa Signature limit

Anonymous — Sat, 12 Nov 2016 21:27:25 GMT

Just got my new card, instant approval online, they're telling me my revolving limit is $500??? On a visa signature, really? Did they misplace a zero?

Re: US bank cash+ Visa Signature limit

CreditCuriosity — Sat, 12 Nov 2016 21:30:47 GMT

Nope Us Bank issues 500 VS CC's now..

Re: US bank cash+ Visa Signature limit

Anonymous — Sat, 12 Nov 2016 21:34:47 GMT

@CreditCuriousity wrote:
Nope Us Bank issues 500 VS CC's now..

Ouch. Well this card does not fit my profile then. What a waste of an inquiry. Do they at least do soft pull CLI's? I don't know whether to just close it or sock drawer it, everything else in my wallet is much higher.

Re: US bank cash+ Visa Signature limit

Themanwhocan — Sat, 12 Nov 2016 22:21:02 GMT

Its possible to request $1500 CLI increases every 6 months, which are usually SP.

The card will grow with time.

Re: US bank cash+ Visa Signature limit

Anonymous — Sat, 12 Nov 2016 23:10:00 GMT

$500 is low in that it prevents you reaching the $2000 a quarter in 5%. I would attempt a recon on just that basis. WHen people get $500 on a Freedom, that IS just enough! Here it isn't.

Re: US bank cash+ Visa Signature limit

Anonymous — Sat, 12 Nov 2016 23:13:06 GMT

I think the $5K minimum for VS is not always true. My Chase Amazon is at $3500 and is a VS.

Re: US bank cash+ Visa Signature limit

CreditCuriosity — Sat, 12 Nov 2016 23:20:12 GMT

@Anonymous wrote:
I think the $5K minimum for VS is not always true. My Chase Amazon is at $3500 and is a VS.

It is deffinetly not true anymore being 5k for VS.. Although some lenders still require it(BofA, etc), but Visa does not.

Re: US bank cash+ Visa Signature limit

Anonymous — Sun, 13 Nov 2016 01:39:59 GMT

@mlc269

Get in touch with UW ....and recon that SL

Do have any other relationships with US bank???

Re: US bank cash+ Visa Signature limit

Anonymous — Sun, 13 Nov 2016 02:13:33 GMT

Also...Be very clear with UW...use same HP.

I was told by UW if you ask under 10k it will not be another HP ...if CR profile is strong go for it .

Re: US bank cash+ Visa Signature limit

Themanwhocan — Sun, 13 Nov 2016 01:57:23 GMT

@Anonymous wrote:
$500 is low in that it prevents you reaching the $2000 a quarter in 5%. I would attempt a recon on just that basis. WHen people get $500 on a Freedom, that IS just enough! Here it isn't.

You can pay more than once a month, so its not absolutely a limitation. It is annoying in the short term though.

Depending on how you use the categories, you may not need the full $2000 spend per quarter. The cell phone category, for example, is a rare category for credit cards that wouldn't be expected to use a huge chunk of $2000 per 3 months, which probably leaves more spend potential for the other category (which likely would not all be used).

Re: US bank cash+ Visa Signature limit

Credit_hawk — Sun, 13 Nov 2016 02:02:31 GMT

Hey guys, out of curiousity, why are people drawn to US Bank? I see the same pattern of ultra low starting limits. Yet, sometimes it seems like it's a sought after bank.

Re: US bank cash+ Visa Signature limit

Anonymous — Sun, 13 Nov 2016 02:16:57 GMT

@Credit_hawk wrote:
Hey guys, out of curiousity, why are people drawn to US Bank? I see the same pattern of ultra low starting limits. Yet, sometimes it seems like it's a sought after bank.

I believe it's the Cash+ 5% category s

Re: US bank cash+ Visa Signature limit

Anonymous — Sun, 13 Nov 2016 02:22:51 GMT

@Anonymous wrote:
@Credit_hawk wrote:
Hey guys, out of curiousity, why are people drawn to US Bank? I see the same pattern of ultra low starting limits. Yet, sometimes it seems like it's a sought after bank.
I believe it's the Cash+ 5% category s

That was the reason for me. This SL is ridiculous for me though, my last SL was $17k from PenFed.

Re: US bank cash+ Visa Signature limit

Anonymous — Sun, 13 Nov 2016 03:31:56 GMT

i just got a cli for $5000 to $10000 using their online form two weeks ago, and it was a soft pull. Account opened 4/14

Re: US bank cash+ Visa Signature limit

Anonymous — Sun, 13 Nov 2016 04:30:19 GMT

@Credit_hawk

Also... Jus a FYI If you have their CC/Loan

Your Checking and Savings are free...this may be regional idk

I have 3 check acc.s and Sav. All free

Re: US bank cash+ Visa Signature limit

Gmood1 — Sun, 13 Nov 2016 05:23:11 GMT

I tried getting a card with jokers. I thought they left off a zero as well with the initial approval. Lol
$1000 just doesn't cut it here. I told them to keep it, before the card ever arrived. I cut it up and threw it in the trash when it did show up.
I don't mind growing a limit, but those folks are ridiculous! I'd rather be denied than given a toy limit I can't use realistically. If I were 18 or just rebuilding, I'd be happy with it.. that's just not the case now. I've worked hard to build my profile, so I'm not accepting the hand out SL's. I completely understand how you feel. They'll never make a dime off me and I'm fine with that. Lol

Re: US bank cash+ Visa Signature limit

mattmyFIC0 — Sun, 13 Nov 2016 21:31:31 GMT

I think having a banking relationship with them makes a HUGE difference. I was auto approved for my cash+ visa with a 15K SL and a business edge select with a 18K SL. Before I banked with them I couldn't get anything approved.

Re: US bank cash+ Visa Signature limit

Anonymous — Mon, 14 Nov 2016 02:32:44 GMT

mattmyFIC0-

Yea...I believe a banking relationship goes a long way 2.

Re: US bank cash+ Visa Signature limit

Aahz — Mon, 14 Nov 2016 04:30:33 GMT

@Anonymous wrote:
Just got my new card, instant approval online, they're telling me my revolving limit is $500??? On a visa signature, really? Did they misplace a zero?

Are you sure they approved you for the Cash+ card? US Bank will frequently downgrade Cash+ apps to Cash Rewards cards without informing the applicant.

Re: US bank cash+ Visa Signature limit

Anonymous — Mon, 14 Nov 2016 06:20:04 GMT

@Aahz wrote:
@Anonymous wrote:
Just got my new card, instant approval online, they're telling me my revolving limit is $500??? On a visa signature, really? Did they misplace a zero?
Are you sure they approved you for the Cash+ card? US Bank will frequently downgrade Cash+ apps to Cash Rewards cards without informing the applicant.

Cash rewards does not exist anymore :-)