topic Re: U.S. Bank Cash+™ Visa Signature® Card?? in Credit Cards

U.S. Bank Cash+™ Visa Signature® Card??

Anonymous — Sat, 28 Oct 2017 03:15:50 GMT

Fellow Members,

So my mother is trying to open a few accounts because she hasn't had a credit card in 8+ years.. So all she has had reporting in her favor is her monthly pay day loan payments..

She said once she pays off the pay day loan she wont be taking out another pay day loan so she would like to get a few cards so she will have something reporting.. As she dont really understand all this nowadays like rates & terms without me reading it and explaing it to her in a more simple manner, She has inlisted me for my help on this stuff..

I got her a unsecured Capital One Platinum card with a $300 limit, She would like to have a total of 3 cards.

Since her Experian Fico8 score is 597 ( have no clue about her scores for TU or EQ ) Im having a bit of a tough time finding her other unsecured cards with no annual fees and other heavy fees, Only other card i could find for her at this time with no annual fee is the

U.S. Bank Cash+™ Visa Signature..

I dont see any place where they charge a Application fee or anything like that but im hoping someone on here can confirm that they dont because i dont want to stick her with a card with a fee just to open the account or any other hidden evil fees..

All other card suggestions are welcome.

~ Shawn

Re: U.S. Bank Cash+™ Visa Signature® Card??

Anonymous — Sat, 28 Oct 2017 03:28:06 GMT

way too low of a score for USB

from what ive seen/heard they are strictly a prime/superprime lender (720+)

Does it have to be a bank card? Would she consider having one store card like Amazon or Walmart. They grow pretty good and report just the same. And while 597 is still on the low side even for store cards, I was approved for Walmart at 610 TU with SL of 500, so anything is possible.

Also does she know that after her payday loans are paid off, she is going to need a reporting installment loan ongoing?

Re: U.S. Bank Cash+™ Visa Signature® Card??

K-in-Boston — Sat, 28 Oct 2017 03:41:09 GMT

May be a good idea to do a Credit Check Total trial (only $1 for 7 days) to get all 3 FICO 08 scores. Sub-600 is absolutely going to be a no go for US Bank. If you can let us know the other 2 scores perhaps we can steer her in the right direction. A secured card from Bank of America or Discover would be great options. Is she eligible to join Navy FCU?

Re: U.S. Bank Cash+™ Visa Signature® Card??

Anonymous — Sat, 28 Oct 2017 03:51:05 GMT

@Anonymous wrote:
way too low of a score for USB

from what ive seen/heard they are strictly a prime/superprime lender (720+)

Does it have to be a bank card? Would she consider having one store card like Amazon or Walmart. They grow pretty good and report just the same. And while 597 is still on the low side even for store cards, I was approved for Walmart at 610 TU with SL of 500, so anything is possible.

Also does she know that after her payday loans are paid off, she is going to need a reporting installment loan ongoing?

TheCreditGame,

She also has a car loan so she will have that going in her favor after the payday loan is no longer in the picture.

Thats a shock because that is the card US Bank spit out for her on the pre-qualified offers However with that said i know those pre-qualified offers isnt 100% accurate, So thanks for the heads up it will save her a HP.

Im trying to talk her into a store card but i dont think she is to faund of the idea though.. I wish she was because i myself am to new to have a FICO score so i got the Discover secured card & fingerhut then i got a Chevron & Walmart card

Walmart for $200

Chevron for $300

I shop at both establishment's anyway so it just made it easy to buy some small something on them every month to keep the accounts open then PIF before they cut the statement so those 2 report at 0 and my Discover reports at 18.

Im starting to think if she wont bite on a store card then she is gunna half to settle and pay some kind of AF.

~ Shawn

Re: U.S. Bank Cash+™ Visa Signature® Card??

Anonymous — Sat, 28 Oct 2017 04:10:04 GMT

@K-in-Boston wrote:
May be a good idea to do a Credit Check Total trial (only $1 for 7 days) to get all 3 FICO 08 scores. Sub-600 is absolutely going to be a no go for US Bank. If you can let us know the other 2 scores perhaps we can steer her in the right direction. A secured card from Bank of America or Discover would be great options. Is she eligible to join Navy FCU?

K-in-Boston,

I will get with her tomorrow so we can pull all 3.. I think she is trying to avoid a secured card in any way she can because i brought up the secured Discover card and told her i have no complaints with mine & she said no, So its making my task of helping her a bit on the tough side..

She's not trying to get a home loan or anything like that so time isnt a factor thats the 1+ in my favor for helping her.

On the Navy FCU yes she could join because my older brother did a 10yr stent in the navy.

Thanks In Advance.

~ Shawn

Re: U.S. Bank Cash+™ Visa Signature® Card??

CreditCuriosity — Sat, 28 Oct 2017 05:12:55 GMT

@Anonymous wrote:
@K-in-Boston wrote:
May be a good idea to do a Credit Check Total trial (only $1 for 7 days) to get all 3 FICO 08 scores. Sub-600 is absolutely going to be a no go for US Bank. If you can let us know the other 2 scores perhaps we can steer her in the right direction. A secured card from Bank of America or Discover would be great options. Is she eligible to join Navy FCU?
K-in-Boston,
I will get with her tomorrow so we can pull all 3.. I think she is trying to avoid a secured card in any way she can because i brought up the secured Discover card and told her i have no complaints with mine & she said no, So its making my task of helping her a bit on the tough side..

She's not trying to get a home loan or anything like that so time isnt a factor thats the 1+ in my favor for helping her.

On the Navy FCU yes she could join because my older brother did a 10yr stent in the navy.

Thanks In Advance.

~ Shawn

Someimes you gotta crawl before you can walk.

If her brother is a member of NFCU then that is certainly the way to go as there are many and many thread on approvals with less than good cerdit with NFCU as they are very giving to most with less than stellar credit.

Re: U.S. Bank Cash+™ Visa Signature® Card??

creditfan — Sat, 28 Oct 2017 05:47:39 GMT

try navy and discover to have better chance

Re: U.S. Bank Cash+™ Visa Signature® Card??

Anonymous — Sat, 28 Oct 2017 06:19:33 GMT

@CreditCuriousity wrote:
@Anonymous wrote:
@K-in-Boston wrote:
May be a good idea to do a Credit Check Total trial (only $1 for 7 days) to get all 3 FICO 08 scores. Sub-600 is absolutely going to be a no go for US Bank. If you can let us know the other 2 scores perhaps we can steer her in the right direction. A secured card from Bank of America or Discover would be great options. Is she eligible to join Navy FCU?
K-in-Boston,
I will get with her tomorrow so we can pull all 3.. I think she is trying to avoid a secured card in any way she can because i brought up the secured Discover card and told her i have no complaints with mine & she said no, So its making my task of helping her a bit on the tough side..

She's not trying to get a home loan or anything like that so time isnt a factor thats the 1+ in my favor for helping her.

On the Navy FCU yes she could join because my older brother did a 10yr stent in the navy.

Thanks In Advance.

~ Shawn
Someimes you gotta crawl before you can walk.

If her brother is a member of NFCU then that is certainly the way to go as there are many and many thread on approvals with less than good cerdit with NFCU as they are very giving to most with less than stellar credit.

CreditCuriousity,

It was my brother that was in the Navy.. He is not a member with NFCU However between my brother being in the Navy, Some others on her side of the family serving in some sort branch or another ( not sure how far down the blood line ) & me working in law enforcement, I would bet a pretty penny that she is still eligible to join NFCU..

I will for sure bring this up to her tomorrow and see if she bites on it.. I do understand about having to crawl before you can walk. I 'm still in the crawling phase..

Just alot of this stuff goes right over her head so she just dont understand all about the phase. After her last stroke i think it kinda jacked with her memory a bit because for the most part she is fine but when it comes to certain things she just dont seem to comprehend it like she use to.

~ Shawn

Re: U.S. Bank Cash+™ Visa Signature® Card??

Anonymous — Sat, 28 Oct 2017 06:26:02 GMT

@creditfan wrote:
try navy and discover to have better chance

creditfan,

I tried Discover for her with the pre qualify website and all it would give her was the secured card.. I dont get it, Capital One gave her a unsecured card with a $300 credit line but Discover had nothing to offer but the secured card.

~ Shawn

Re: U.S. Bank Cash+™ Visa Signature® Card??

SunriseEarth — Sat, 28 Oct 2017 07:08:13 GMT

With scores below 600, an unsecured card from a prime lender isn't in the works yet. What is her credit profile like? You mention that only an auto loan and the Cap One card. Payday loans don't report (unless it goes into collections, of course). Does she have any baddies? If so, you may want to explore the "Rebuilding" forums for ideas on how to address those.

If she's trying to gain some credit now, she could probably get some of the SCT cards or maybe even some of the Sync store cards (depending on her TU profile). Credit is a marathon, not a sprint, so she has to start low and work her way up. There's nothing wrong with secured cards. If I had to do my rebuild over again, I would do a secured card that graduated instead of the CreditOne route.

Re: U.S. Bank Cash+™ Visa Signature® Card??

noobody — Sat, 28 Oct 2017 14:59:00 GMT

I feel sorry for op as she put him in a impossible spot.
She got no/bad credit.
She got no money. As pay day loan and refuse open a secured card indicate.
She has little credit/financial sense.
She doesn't want open store card.
At this time, i think more credit would do more harm than good.
Cash+ is way out of her league.

Re: U.S. Bank Cash+™ Visa Signature® Card??

Anonymous — Sat, 28 Oct 2017 15:15:35 GMT

Unfortunately my suggestion would also be Discover secured. My other suggestion is that if someone is willing to pay 65% interest on payday loans but isn't willing to put $200 into a secured card, there's probably no real help you can give even if they're family.

I have a family member like that -- pays $1500 a year in payday loan fees and interest but won't get the Discover secured because they don't want $200 tied up with a bank.

I would continue to offer her that Discover secured because it's a great rebuilder and I truly believe it was what helped me on the path from my 550 scores this year to the 700s I have today and the 750s I'll have in 6 months. They refunded me my entire security deposit in 7 months so it wasn't even a major issue.

Good luck trying to help her, maybe she will see the light!

Re: U.S. Bank Cash+™ Visa Signature® Card??

AverageJoesCredit — Sat, 28 Oct 2017 15:54:06 GMT

Best bet for your Mom and yourself is to join Navy Fed. Once in you are a member for life as can be your children. They seem to really take care of its members and are very helpful even with profiles thst have issues. Once in there either by secured or unsecured cc, youll find that can open other doors . Buggest issue affecting your Mom will be her sub 600 score . Many regular credit cards just dont open their doors just quit yet. Best of luck and i think its great you're trying to help your Mom

Re: U.S. Bank Cash+™ Visa Signature® Card??

creditfan — Sat, 28 Oct 2017 18:26:13 GMT

@Anonymous wrote:
@creditfan wrote:
try navy and discover to have better chance

creditfan,
I tried Discover for her with the pre qualify website and all it would give her was the secured card.. I dont get it, Capital One gave her a unsecured card with a $300 credit line but Discover had nothing to offer but the secured card.

~ Shawn

have you or her consider student version of discover? because it's also as easy approval as secured one and w/o security deposit. Stop thinking regarding ages for student version, because I remember when I was in college I did have a few class mates in mid age 40 and 50. So stop worry about it *wink*

Re: U.S. Bank Cash+™ Visa Signature® Card??

Anonymous — Sat, 28 Oct 2017 20:16:03 GMT

This is not exactly true but USB does require previous trade line history and not too many inquiries. Cards are approved generally 650 and up if these other requirements are met. They favor relationship history and you are more likely to get a good limit if you bank with them.

Re: U.S. Bank Cash+™ Visa Signature® Card??

CreditDunce — Sat, 28 Oct 2017 23:35:55 GMT

To really help her, you need to review her full credit reports with her. Many credit reports have incorrect information in them. Even if the baddies are hers, read up in the credit rebuilding forums to see what can be done. Personally, I think it would be best if she stuck with one credit card for the time being. Multiple credit cards can get you into trouble if you don't know how to manage them properly.

NFCU is probably the best choice for a second credit card. NFCU is a great credit union to join for both the OP and their mom. Please be aware NFCU will HP to join and HP for each app. If they don't approve the app, their secured credit card is very good. It should unsecure within a year. The OP could provide the security deposit for the card.

If she is willing for a wasted HP, Discover might be worth the long shot. Depending on why her credit score is so low, they could approve her. While Discover seems to likes relatively clean, thin credit files, it sometimes seems who they are approve is almost random. It would probably be a better idea to wait until the Cap1 card is a year old before she applies for Discover.

If your mom banks with USB, then it would also be worth asking her banker if she is pre-qualified for anything. If she has a good history with them they might offer her something. Maybe their plat card. I think USB uses TU-04 Bank card enhanced for account reviews. There is no telling how that score relates to a FICO 08 score.

Re: U.S. Bank Cash+™ Visa Signature® Card??

HeavenOhio — Sun, 29 Oct 2017 16:48:27 GMT

OP, your mother has started out with an unsecured card from a good bank. When I see that people have been able to do that, I hate to see them backtrack and go with secured products. The exception would be Discover because their card is good enough to be worth coughing up the deposit. But if your mother doesn't want to take that route, that's fine too.

She can build off of her one card if she moves slowly. Let it age, and after a year or so of history, other unsecured products should become available. The only issue at this point might be her scores. But after a year with the Capital One card, hopefully things will improve.

I like the NFCU idea. Open up a bank account, and apply for a card. If a secured card is her only option and she doesn't want to go that route, apply for an unsecured card down the road.

Re: U.S. Bank Cash+™ Visa Signature® Card??

Kforce — Sun, 29 Oct 2017 17:10:50 GMT

Use the "Capital One Platinum Card", pay it off every month,

and let 6 months pass. Check scores again.

It requires time. and history. No quick fix.

A second secured card would speed thing up a little, however

good payment history and time will let her score grow.

Re: U.S. Bank Cash+™ Visa Signature® Card??

Anonymous — Sun, 29 Oct 2017 17:55:53 GMT

Navy fed. So many great reasons to join even if she doesn't open a card a card initially. Maybe check in with capital 1, and for the love of God DO WHATEVER IS WITHIN YOUR POWER TO KEEP HER AWAY FROM PAYDAY Loans.
Is she using the loan like a credit card in that she's putting purchases she wants to spread out over time on it? Or is it necessity based - used to pay other bills or rent or for food? If it's the latter you guys need to do a serious evaluation of her financial situation & make some changes if at all possible. While it's better to carry a balance on a 25% apr card than a god only knows % payday loan (legal cap is like 130% or something? Last I looked anyhow) moving the problem to a different lending product is only a band aid.

Re: U.S. Bank Cash+™ Visa Signature® Card??

Anonymous — Sun, 29 Oct 2017 23:52:01 GMT

Sorry for such a late reply i wound up with company from out of town.. I say payday loan because thats just what i call any of thoe places but on her reports it shows as a secured loan / paying as agreed.. She took it out due to unexpected house repairs that had to be done so her homeowners insurance would continue to cover her home.

After sitting her down and showing her other then the unsecure Cap One that she just got, No other unsecured cards was open to her at this time & there was nothing i could do about that part.. So after me showing her that and not just telling her about it & a little more talking i was able to get her to bite on a secured discover for her 2nd card and a walmart card for her 3rd..

~ Shawn