topic Re: US Bank blues (question) in Credit Cards

US Bank blues (question)

Anonymous — Sat, 07 Oct 2017 23:44:52 GMT

So I came out of the garden to do my BofA cli (which increased my limit from 2 to 6k, also got a bump from Amex from 2500 to 7k thank you very much) and decided to app for a us bank card since I got a prequal offer.

I got a 5-10 day wait message but was approved. Today, I received my card with my giant limit of.........$500

Can this be reconned? I’m inclined not to keep the card even though I took the hit because I can’t do anything with a card that low unless someone has a good argument for me to keep it. Any input would be appreciated. Thanks!

Re: US Bank blues (question)

Viva-LV — Sun, 08 Oct 2017 00:04:20 GMT

@Anonymous wrote:
So I came out of the garden to do my BofA cli (which increased my limit from 2 to 6k, also got a bump from Amex from 2500 to 7k thank you very much) and decided to app for a us bank card since I got a prequal offer.

I got a 5-10 day wait message but was approved. Today, I received my card with my giant limit of.........$500

Can this be reconned? I’m inclined not to keep the card even though I took the hit because I can’t do anything with a card that low unless someone has a good argument for me to keep it. Any input would be appreciated. Thanks!

My guess is that you're a newcomer to USB. Do you bank with them? They reward their customers somewhat, and there are successful posts here about decent starting lines $5k-$10k. Without more info, its a bit hard to say in your case. As a USB homer, I can tell you that BOA and Am Ex will grow your accounts faster. Between the three for me, USB was far behind the other two, but has come on strong with cli's as of late, for me. The Cash+ is a decent card, as is the Alt Reserve. Depends what you're looking for...Good luck!

Re: US Bank blues (question)

Anonymous — Sun, 08 Oct 2017 00:08:54 GMT

Not really much help to you, but just wanted to say you are not alone. They did that to me 2 years back. After 5 or 6 months of that old website, I decided it wasn’t worth my time and canceled. Had always pif of course. Fast forward a year and I got bombarded with offers from them, which I took. Nice 7k and up SL and already a cli. Just some data for you.

Re: US Bank blues (question)

Anonymous — Sun, 08 Oct 2017 00:13:16 GMT

Thanks for the info so far. I am new to US Bank. I liked the idea of picking categories for 5% (even if the categories weren’t always great).

The other reason I’m inclined not to keep it is I’m afraid that super low SL is a flag to them to keep me in a group that will never truly grow. I feel like that SL is a “we’ll let you in but you’re a huge risk”.

Re: US Bank blues (question)

Nan425 — Sun, 08 Oct 2017 05:09:50 GMT

In January 2017, I applied for the Amex 365 and they told me that my limit was $500. I immediately asked for an increase and they were able to increase it to $2,000. You should call them and ask for limit increase without another credit pull.

Re: US Bank blues (question)

NRB525 — Sun, 08 Oct 2017 05:40:59 GMT

@Anonymous wrote:
Thanks for the info so far. I am new to US Bank. I liked the idea of picking categories for 5% (even if the categories weren’t always great).

The other reason I’m inclined not to keep it is I’m afraid that super low SL is a flag to them to keep me in a group that will never truly grow. I feel like that SL is a “we’ll let you in but you’re a huge risk”.

It will grow. Since this is your first US Bank product, you need to show a bit of usage, let them see you make your payments, and then plenty of CLI will be available down the road.

The Cash+ is a very nice card, since it can pick up categories other cards cannot. Cellphone is a good one. Department Stores means you don't have to get a store card. Sporting goods stores are helpful for things like REI and bicycle shops. Fast Food. Rental Cars. Bookstore can interpret as Amazon, there are many uses for the card.

Congrats on the approval!

I now have three cards with US Bank, two Cash+ and an Altitude Reserve. A mortgage, checking (not my primary checking). The credit limits grow.

Re: US Bank blues (question)

JustcallmeTM — Sun, 08 Oct 2017 12:08:59 GMT

Like a person mentioned above, if you get a approved and havent recieved the card call up and ask for a CLI on the card, they will use the same HP. Once you have the card in hand and attempt your running the risk of a HP for that increase.

I turned a $500 credit line to $7500 in less than 24 hrs from calling and asking for a credit increase. I never mentioned the word "recon/reconsideration" on the limit.

The easiest way to get almost any main US Bank card is by going through the savings/checking gold package option which lets you open a CC also using TU. While filling in the application for the savings/checking account it will give your pre approved card offers WITH THE LIMIT they will give you.

When I opened a checking I was pre approved for the 2nd US Bank card for $5000 SL. I did this for 2 other people and both got better SL going through the check/savings gold package account opening with a CC than any cold app.

It has been mentioned a couple of time over the course of almost 2 years on here but it still goes over people's heads.

People shouldn't even cold app for US Bank, if they want the card they should go through the what I mentioned before the Gold Package from US Bank, if you dont want to get a HP and denied then will it hurt to open a savings or checking account with them ? You find out what cards your pre approved for with the limits ? I don't know but that's common sense, easier to close a checking/savings account and not hurt your report than opening a CC just to close it like most would do.

Re: US Bank blues (question)

xenon3030 — Sun, 08 Oct 2017 15:12:35 GMT

Is there a HP for opening checking/saving and afterward, going for a CC application?

I heard that checking/saving requires a SP but good to know whether CC would be included in that SP or it would be a HP.

Re: US Bank blues (question)

Ardecko — Sun, 08 Oct 2017 15:36:45 GMT

@JustcallmeTM wrote:
The easiest way to get almost any main US Bank card is by going through the savings/checking gold package option which lets you open a CC also using TU. While filling in the application for the savings/checking account it will give your pre approved card offers WITH THE LIMIT they will give you.

snip

People shouldn't even cold app for US Bank, if they want the card they should go through the what I mentioned before the Gold Package from US Bank, if you dont want to get a HP and denied then will it hurt to open a savings or checking account with them ? You find out what cards your pre approved for with the limits ? I don't know but that's common sense, easier to close a checking/savings account and not hurt your report than opening a CC just to close it like most would do.

Please allow me to be sure I read this correctly:

Is opening the checking account a soft pull?

When you go through the signup process for a Gold Checking account, you will see a list of preapprovals for one or more credit cards, the name/type of that card, and the limits?

Using this method, we delay the HP until we choose which card(s)?

Can you bail out of the checking account application process if you're not happy with the card/limits offered?

Re: US Bank blues (question)

Anonymous — Sun, 08 Oct 2017 15:58:27 GMT

1st post

Thank you for this!

I have wanted to apply for the USB Cash+ for several months, however I have more than 5 inquiries within 12 months, and 5 new credit cards this year from aggressive rebuilding/building the new foundation. Also wanted to move to USB for my primary banking, so the Gold Checking package is perfect.

This post needs a firm bump! Or a detailed outline of the process to help others get in with USB.

After reading this, I did exactly what you said, and I was literally approved moments ago for the Gold Package, and the Cash+ VS with $3,000 SL, 18.9%.

Something worth mentioning, when you complete the application online, READ CAREFULLY, as when you get to the screen for the credit card selection, it may only show up to 3 cards, and may not immediately show the card you want. Just below that mini-window is a link says; show more. Click that.

Re: US Bank blues (question)

Ardecko — Sun, 08 Oct 2017 16:15:38 GMT

Vanthor, are you an existing USB account holder or did you set that up just now as well?

I spent some time poking at their website and it appears you need to have a relationship of some kind to open the Gold package.

Re: US Bank blues (question)

JustcallmeTM — Sun, 08 Oct 2017 17:58:07 GMT

Glad I could help.

When opening the checking/savings it will be a SP using TU, but when you are shown a SL and set APR for a card it will be a HP for the card.

Anyone can become a Gold without a relationship, the only condition is you can only open the account if you accept one of the credit card offerings.. I think the catch is better than the cold app and $500 BS with the disappointment on the line after routine. 9/10 time they should show a set SL and APR for the card your apping for.

Re: US Bank blues (question)

Anonymous — Sun, 08 Oct 2017 16:21:43 GMT

@Ardecko wrote:
Vanthor, are you an existing USB account holder or did you set that up just now as well?

I spent some time poking at their website and it appears you need to have a relationship of some kind to open the Gold package.

I think that all you have to do is click the 'apply now' button to apply now.

https://www.usbank.com/bank-accounts/checking-accounts/gold-checking-account.html

Re: US Bank blues (question)

Anonymous — Sun, 08 Oct 2017 16:24:45 GMT

@Ardecko wrote:
@JustcallmeTM wrote:
The easiest way to get almost any main US Bank card is by going through the savings/checking gold package option which lets you open a CC also using TU. While filling in the application for the savings/checking account it will give your pre approved card offers WITH THE LIMIT they will give you.

snip

People shouldn't even cold app for US Bank, if they want the card they should go through the what I mentioned before the Gold Package from US Bank, if you dont want to get a HP and denied then will it hurt to open a savings or checking account with them ? You find out what cards your pre approved for with the limits ? I don't know but that's common sense, easier to close a checking/savings account and not hurt your report than opening a CC just to close it like most would do.

Please allow me to be sure I read this correctly:

Is opening the checking account a soft pull?

When you go through the signup process for a Gold Checking account, you will see a list of preapprovals for one or more credit cards, the name/type of that card, and the limits?

Using this method, we delay the HP until we choose which card(s)?

Can you bail out of the checking account application process if you're not happy with the card/limits offered?

Do not know if opening a checking account with USB requires a SP or HP. Perhaps if a checking account is opened individually it may be treated differently?

During the online app for the Gold Checking, you need to select add a credit card, then when you get to the window that shows the eligible cards (there may be a "show more" link below), you pick that card first, a couple of screens after that will reveal your pre-approval information with $$$ SL, and APR %. You can then, accept that card or click decline. I accepted and moved on, so I can't comment on what happens if you click decline.

I believe the HP is done after card selection. Had to wait like 30 seconds for approval. I received an alert from Capital One CreditWise indicating I have an inq on TransUnion.

I believe you can bail, but I accepted their offer. It would make sense that you can bail, and pick another card since there were 2 buttons, accept or decline card.

Hope this helps.

Re: US Bank blues (question)

Anonymous — Sun, 08 Oct 2017 16:28:51 GMT

@Ardecko wrote:
Vanthor, are you an existing USB account holder or did you set that up just now as well?

I spent some time poking at their website and it appears you need to have a relationship of some kind to open the Gold package.

I am now a new USB customer!

No prior relationship.

Re: US Bank blues (question)

Ardecko — Sun, 08 Oct 2017 16:29:36 GMT

@Anonymous wrote:
@Ardecko wrote:
Vanthor, are you an existing USB account holder or did you set that up just now as well?

I spent some time poking at their website and it appears you need to have a relationship of some kind to open the Gold package.
I think that all you have to do is click the 'apply now' button to apply now.

https://www.usbank.com/bank-accounts/checking-accounts/gold-checking-account.html

Perhaps it varies by area. When I click the Apply now button on that page, it asks me for my zip code, then tells me I can't open this account unless I already have an account. (The savings account doesn't trigger this, so I can still work my way in, I just might need to put $305 into a savings account for a couple months.)

Re: US Bank blues (question)

xenon3030 — Sun, 08 Oct 2017 16:31:25 GMT

In case of having a prior checking/saving, does it still require a HP for CC application?

Re: US Bank blues (question)

Ardecko — Sun, 08 Oct 2017 16:35:41 GMT

@JustcallmeTM wrote:
When opening the checking/savings it will be a SP using TU, but when you are pre-approved for a card it will be a HP for the card on the same sp TU they used for the checking/savings

Perhaps I was unclear. I would fully expect the HP once you've chosen and accepted a card.

What I thought you were saying was they would do the preapproval(where they show you card choices and limits) on the SP. In this scenario, you wouldn't receive the HP unless you complete the application. Is that what you said?

I'm sorry, sometimes I'm pedantic.

Re: US Bank blues (question)

Anonymous — Sun, 08 Oct 2017 16:34:32 GMT

@Ardecko wrote:
@Anonymous wrote:
@Ardecko wrote:
Vanthor, are you an existing USB account holder or did you set that up just now as well?

I spent some time poking at their website and it appears you need to have a relationship of some kind to open the Gold package.
I think that all you have to do is click the 'apply now' button to apply now.

https://www.usbank.com/bank-accounts/checking-accounts/gold-checking-account.html
Perhaps it varies by area. When I click the Apply now button on that page, it asks me for my zip code, then tells me I can't open this account unless I already have an account. (The savings account doesn't trigger this, so I can still work my way in, I just might need to put $305 into a savings account for a couple months.)

I'm in Sacramento, CA.

I started here:

https://www.usbank.com/bank-accounts/checking-accounts/compare-checking-accounts.html

Re: US Bank blues (question)

JustcallmeTM — Sun, 08 Oct 2017 17:40:24 GMT

@Ardecko wrote:
@JustcallmeTM wrote:
When opening the checking/savings it will be a SP using TU, but when you are pre-approved for a card it will be a HP for the card on the same sp TU they used for the checking/savings

Perhaps I was unclear. I would fully expect the HP once you've chosen and accepted a card.
What I thought you were saying was they would do the preapproval(where they show you card choices and limits) on the SP. In this scenario, you wouldn't receive the HP unless you complete the application. Is that what you said?
I'm sorry, sometimes I'm pedantic.

They use a SP to be able to give you a list of card with a SL and APR rate, you have to take one of those cards to open the account, so you have to follow through or you can cancel out. But when you accept they will give you a HP for opening the credit card. Most pre-approval only give you the firm APR, this route lets you know the SL and APR rate also. Like I said above dont like it cancel and go about your day. Its only a SP until you accept the credit card offer then it turns into a HP for the CC. This is also also a indirect way of opening the CC with TU through US Bank instead of pulling EX on a cold app.

I think even current members can use it more than once to open multiple accounts to be honest. I had more than 1 checking and then closed one later, at the end of the day I took the HP for the card because of the SL offered and APR not the checking account that was just something I had to accept as part of the package. I still have a checking and savings account just closed the extras.