topic Re: US Bank in Credit Cards

US Bank

BearsAndTurtlesRtheBest — Sun, 14 May 2017 07:52:47 GMT

Hey everyone! I wanted to ask if anyone knows how long Elan Financial who is tied with US Bank, will hold a grudge if they were included in a Chapter 7? It will be 1 year in July 11 since I was discharged. My current bank offers CCs through Elan Financial but was denied for a CC about 6 months ago. Should I give it another try?

Re: US Bank

BearsAndTurtlesRtheBest — Sun, 14 May 2017 07:53:54 GMT

I currently only have one small loan reporting with positive payment history

Re: US Bank

AverageJoesCredit — Sun, 14 May 2017 13:35:40 GMT

No idea but i would imagine being that these are conservative banks, i think, that perhaps they hold grudges longer?. Hopefully someone with more experience will chime in but i can say being only 1 year post discharge might not be enough time. Best of luck

Re: US Bank

ChargedUp — Sun, 14 May 2017 18:12:48 GMT

I got an Elan Financial Visa a couple months ago during an app spree. They HP my EX instantly, which was 677 at that time and gave a 30 day message. About 10 days later I had the card with a $5K limit and 12 months Ø% interest.

Re: US Bank

Aduke1122 — Sun, 14 May 2017 19:02:45 GMT

Did you include them in your BK ChargedUp?

Re: US Bank

Aduke1122 — Sun, 14 May 2017 19:03:57 GMT

Also Op why don't you go for a Discover or Cap One Secured Card. Both have lots of potential to graduate anywhere from 7 to 11 mths time , what are your scores like ?

Re: US Bank

creativeZero7 — Sun, 14 May 2017 23:51:06 GMT

Elan/US Bank is a pretty conservative lender. If their products are offerred through your bank the best thing to do would be to talk to your banker in person as they should have so influence on the decision. If you are in a better spot now, it might work but you just can't really know until you try.

I've had two of their cards for over five years now. My banker did both apps within a month or two of eachother and they went through with no issues. 7.5k Visa Signature and a Business Visa. I will say that neither card has had an increase so I'd say they are a bit stingy in my case, but I don't need higher limits on these cards.

When I applied for the cards, I had not had a credit card in almost ten years. I over utilized credit when I was younger and actually consolidated and counselled my way out of it- setting up payment plans and knocking out my debt over many years. It hurt me while buying a car way back then and I generally thought I was not worthy of credit again. I tell all of this to my banker and he says, well, we are your bank and I see all your accounts in good standing. Good balances, no overdrawn accounts, issues, etc. You are a good customer, etc. I had about a year left to pay off my car as my only debt at the time. I filled out the app and he called it in, instantly approved for the highest initial limit. A month later, the business card.

That said, I think there are better cards out there. The advantage here is that your bank should have some influence but if you are rolling the dice, I would go with a more robust card vs an Elan product.

Re: US Bank

BearsAndTurtlesRtheBest — Mon, 15 May 2017 23:11:11 GMT

Ok thanks.

@AverageJoesCredit wrote:
No idea but i would imagine being that these are conservative banks, i think, that perhaps they hold grudges longer?. Hopefully someone with more experience will chime in but i can say being only 1 year post discharge might not be enough time. Best of luck

Re: US Bank

BearsAndTurtlesRtheBest — Mon, 15 May 2017 23:19:11 GMT

Im assuming you don't have a BK on file. That is a nice limit and decent offer.

@ChargedUp wrote:
I got an Elan Financial Visa a couple months ago during an app spree. They HP my EX instantly, which was 677 at that time and gave a 30 day message. About 10 days later I had the card with a $5K limit and 12 months Ø% interest.

Re: US Bank

BearsAndTurtlesRtheBest — Mon, 15 May 2017 23:20:17 GMT

I included US Bank in my Chapter 7.

@Aduke1122 wrote:
Did you include them in your BK ChargedUp?

Re: US Bank

kugel — Mon, 15 May 2017 23:28:17 GMT

No chance with them included or not included in bk us bank will not open u a account till 5 years after bk

Re: US Bank

BearsAndTurtlesRtheBest — Mon, 15 May 2017 23:43:50 GMT

I also included Discover and Capital One in my Chapter 7.

@Aduke1122 wrote:
Also Op why don't you go for a Discover or Cap One Secured Card. Both have lots of potential to graduate anywhere from 7 to 11 mths time , what are your scores like ?

Re: US Bank

BearsAndTurtlesRtheBest — Mon, 15 May 2017 23:58:15 GMT

Thanks for the information I will give it another try at the branch and see what happens. I would be happy with a $300 CL, but if not I will move on and look into another product.

@creativeZero7 wrote:
Elan/US Bank is a pretty conservative lender. If their products are offerred through your bank the best thing to do would be to talk to your banker in person as they should have so influence on the decision. If you are in a better spot now, it might work but you just can't really know until you try.

I've had two of their cards for over five years now. My banker did both apps within a month or two of eachother and they went through with no issues. 7.5k Visa Signature and a Business Visa. I will say that neither card has had an increase so I'd say they are a bit stingy in my case, but I don't need higher limits on these cards.

When I applied for the cards, I had not had a credit card in almost ten years. I over utilized credit when I was younger and actually consolidated and counselled my way out of it- setting up payment plans and knocking out my debt over many years. It hurt me while buying a car way back then and I generally thought I was not worthy of credit again. I tell all of this to my banker and he says, well, we are your bank and I see all your accounts in good standing. Good balances, no overdrawn accounts, issues, etc. You are a good customer, etc. I had about a year left to pay off my car as my only debt at the time. I filled out the app and he called it in, instantly approved for the highest initial limit. A month later, the business card.

That said, I think there are better cards out there. The advantage here is that your bank should have some influence but if you are rolling the dice, I would go with a more robust card vs an Elan product.

Re: US Bank

BearsAndTurtlesRtheBest — Mon, 15 May 2017 23:59:06 GMT

I am referring to their secured card of course.

Re: US Bank

BearsAndTurtlesRtheBest — Tue, 16 May 2017 00:06:27 GMT

Wow thats too long. I will check it out one more time. Maybe I will be a success story.

@kugel wrote:
No chance with them included or not included in bk us bank will not open u a account till 5 years after bk

Re: US Bank

Anonymous — Tue, 16 May 2017 00:59:09 GMT

@BearsAndTurtlesRtheBest wrote:
Wow thats too long. I will check it out one more time. Maybe I will be a success story.
@kugel wrote:
No chance with them included or not included in bk us bank will not open u a account till 5 years after bk

I wouldn't waste the HP. A lot of people have a hard time getting into US Bank without a bankruptcy.

Re: US Bank

BearsAndTurtlesRtheBest — Thu, 08 Jun 2017 18:03:55 GMT

Ok thanks I will leave it alone and consider something else.