topic Re: USB IIB -- chances of getting a new card? in Credit Cards

USB IIB -- chances of getting a new card?

Anonymous — Wed, 19 Dec 2018 00:52:36 GMT

Long story short, BoA's practices ended up pushing me into filing chapter 7 which unfortunately included my US Bank card and reserve line. This was back in 2010. Do I realistically have any chance of getting back in with them? I believe they got burned about 10K but my memory of the events around that time is fuzzy at best.

I am sure at the very least I would have to wait til my BK drops in 2020 but that Cash+ card looks very attractive and I want to know if I should just give up any hope of getting that card now or if I might possibly be able to get into $500 purgatory for year with them and start being able to grow?

Re: USB IIB -- chances of getting a new card?

Anonymous — Wed, 19 Dec 2018 02:36:52 GMT

USB is a conservative lender even if you have high scores combined with no negative USB history. If USB were IIB they will forever have a record of it even if it falls off your CRA files. I am highly skeptical that you would be able to get a card from USB.

Re: USB IIB -- chances of getting a new card?

Anonymous — Wed, 19 Dec 2018 03:01:33 GMT

@Anonymous wrote:
USB is a conservative lender even if you have high scores combined with no negative USB history. If USB were IIB they will forever have a record of it even if it falls off your CRA files. I am highly skeptical that you would be able to get a card from USB.

I was afraid that would be the answer. Was still worth asking.

They weren't conservative with me at all. My card had like a 25K limit on variable 30-40K a year and I only had three other cards - the aforementioned BoA ($9500 IIRC) and two store cards, Best Buy and Amazon.

But I also did all my banking with them. I moved my banking out when my bankruptcy was filed.

Re: USB IIB -- chances of getting a new card?

Anonymous — Wed, 19 Dec 2018 03:29:26 GMT

They do have a card prequal so I would fill out the info just to see if they have any recommendations for you. As mentioned above, they are conservative so if you burned them then chances aren't so good JMO.

Re: USB IIB -- chances of getting a new card?

Anonymous — Wed, 19 Dec 2018 03:31:44 GMT

@Anonymous wrote:
They do have a card prequal so I would fill out the info just to see if they have any recommendations for you. As mentioned above, they are conservative so if you burned them then chances aren't so good JMO.

My scores are too low to prequal (I have checked a few times and nada) but they won't be low much longer - my repo falls off next year along with my late payments (student loans) and then my BK in 2020.

Re: USB IIB -- chances of getting a new card?

Anonymous — Thu, 20 Dec 2018 21:22:06 GMT

My bk was in 2011. US Bank was IIB. I tried a few times to get their Plus card for the 5% categories over the years but was unsuccessful.

I applied on 12/2017 and got the Cash+ Visa siggy for 10k. So in my case, I was black listed for at least 6 years.

Assuming you don't mind the hp hit, I would app and see what happens. Worst case scenerio, that hp clears up in 2 years just in time for your bk to be removed from your credit report.

Re: USB IIB -- chances of getting a new card?

Anonymous — Thu, 20 Dec 2018 21:37:24 GMT

@Anonymous wrote:
My bk was in 2011. US Bank was IIB. I tried a few times to get their Plus card for the 5% categories over the years but was unsuccessful.

I applied on 12/2017 and got the Cash+ Visa siggy for 10k. So in my case, I was black listed for at least 6 years.

Assuming you don't mind the hp hit, I would app and see what happens. Worst case scenerio, that hp clears up in 2 years just in time for your bk to be removed from your credit report.

Awesome! Thank you for that!

May I ask how much you burned them for and your scores when you were approved?

I have added too many new accounts this year so I am going to let them age and the INQs fall before I try for another card plus I want to show history of my 5 5K+ cards being managed responsibly first and I got all but one of those this year.

Re: USB IIB -- chances of getting a new card?

Winesnoblv — Thu, 20 Dec 2018 21:37:47 GMT

As was mentioned previously, US Bank is very conservative. I was able to be approved for their Altitude Reserve back in October, but was denied their preferred line of credit. The reason was that I had no previous credit experience. I had been a customer for over 12 years with an overdraft line of credit which I have never had a issue with. It seems if they do not want to approve you, they will find a reason.

Re: USB IIB -- chances of getting a new card?

Anonymous — Thu, 20 Dec 2018 22:16:30 GMT

I think my fico was near 690 last year.

Pretty sure I burned them for closer to 20k at the time.

Funny thing is once you get this card, it's like the dog chasing a car, what do you do with it now? I was eyeing this card for years for the fast food 5% because no one else offered what they did at the time. Now I have the Uber for 4% for all dining, Pedfed for 5% gas, Paypal for 2% for everything else.

I rarely use this card now, lol. 5% department store and maybe 5% phone bill, but the Uber card has mobile phone protection.

Re: USB IIB -- chances of getting a new card?

Anonymous — Thu, 20 Dec 2018 22:25:10 GMT

@Anonymous wrote:
I think my fico was near 690 last year.

Pretty sure I burned them for closer to 20k at the time.

Funny thing is once you get this card, it's like the dog chasing a car, what do you do with it now? I was eyeing this card for years for the fast food 5% because no one else offered what they did at the time. Now I have the Uber for 4% for all dining, Pedfed for 5% gas, Paypal for 2% for everything else.

I rarely use this card now, lol. 5% department store and maybe 5% phone bill, but the Uber card has mobile phone protection.

I wouldn’t mind 5% on my Comcast bill. Anything to save money there. But my BBVA 3/2% category card will likely grow more than a USB 5% will considering my low income and my past history with them so I’ll probably just stick with my $50 a year cash back for Comcast from BBVA.

I have time to think about it and hopefully hit that 700 as my last baddies drop anyway.

Re: USB IIB -- chances of getting a new card?

Anonymous — Fri, 04 Jan 2019 06:19:50 GMT

I am really surprised by this.
I had been expecting you to say the IIB was some very small amount but was part of the overall bankruptcy.
I cannot imagine Amex extending credit that quickly after 20k IIB, and Amex has gone mass market.

Re: USB IIB -- chances of getting a new card?

zerofire — Sat, 23 Mar 2019 23:03:29 GMT

AmEx is mass market and US bank is a regional bank. The areas they serve are different and each one knows it. AmEx will have more qualified candidates for their product and can be more choosy than US bank. US bank has a limited market and anyone that joins them outside of that is icing on the cake. They have less choices and of you have qualifications to a product they are prone to eventually want profit instead.

Re: USB IIB -- chances of getting a new card?

Anonymous — Sun, 06 Jan 2019 11:07:34 GMT

@zerofire wrote:
AmEx is mass market and US bank is a regional bank. The areas they serve are diffrent and each one knows it. AmEx will have more qualified candidates for their product and can be more choosey than US bank. US bank has a limited market and anyone that joins them outside of that is icing on the cake. They have less choices and of yyou have qualifications to a product they are prone to eventually want profit instead.

I live in Colorado, US Bank has a sizeable presence here, among the highest of the big banks. Wells Fargo is the largest followed by FirstBank (that’s amazing for a regional private bank, I had no idea my bank was so big, they only serve Colorado, California and Arizona) followed by US Bank as ranked by local deposits in 2017.

Re: USB IIB -- chances of getting a new card?

kugel — Sun, 06 Jan 2019 12:13:18 GMT

I did not include them in bk I am at my third year after bk plus in my first year of Bk I had a secured cc with them with good payment history
What are my chances now to b approved ?

Re: USB IIB -- chances of getting a new card?

sjt — Sun, 06 Jan 2019 15:16:32 GMT

@kugel wrote:
I did not include them in bk I am at my third year after bk plus in my first year of Bk I had a secured cc with them with good payment history
What are my chances now to b approved ?

I believe US Bank like to see 5 years post BK before they will unsecure the card or approve unsecured loans/cards.

Re: USB IIB -- chances of getting a new card?

sjt — Sun, 06 Jan 2019 15:18:05 GMT

@Anonymous wrote:
Long story short, BoA's practices ended up pushing me into filing chapter 7 which unfortunately included my US Bank card and reserve line. This was back in 2010. Do I realistically have any chance of getting back in with them? I believe they got burned about 10K but my memory of the events around that time is fuzzy at best.

I am sure at the very least I would have to wait til my BK drops in 2020 but that Cash+ card looks very attractive and I want to know if I should just give up any hope of getting that card now or if I might possibly be able to get into $500 purgatory for year with them and start being able to grow?

You should call US Bank underwriting and see what their current policy is. Last I heard was 5 years post BK if you did not burn them. What was the amount US Bank was burned in BK?

Re: USB IIB -- chances of getting a new card?

Anonymous — Sun, 06 Jan 2019 16:13:41 GMT

@sjt wrote:
@Anonymous wrote:
Long story short, BoA's practices ended up pushing me into filing chapter 7 which unfortunately included my US Bank card and reserve line. This was back in 2010. Do I realistically have any chance of getting back in with them? I believe they got burned about 10K but my memory of the events around that time is fuzzy at best.

I am sure at the very least I would have to wait til my BK drops in 2020 but that Cash+ card looks very attractive and I want to know if I should just give up any hope of getting that card now or if I might possibly be able to get into $500 purgatory for year with them and start being able to grow?
You should call US Bank underwriting and see what their current policy is. Last I heard was 5 years post BK if you did not burn them. What was the amount US Bank was burned in BK?

Probably 10K. I don’t honestly remember and when my BK was discharged, every single account that was IIB including my positive ones were deleted from my credit reports so I don’t even have records at this point (anything I had was in my filing cabinet which was in the storage unit I lost when I was fighting for disability along with just about everything else I owned at the time).

I won’t be going for it until my report is clean which may not be til 2021 and my BK falls in 2020 so hopefully 11 years is long enough.

Re: USB IIB -- chances of getting a new card?

pizza1 — Sun, 06 Jan 2019 16:47:12 GMT

USB BK policy is 5 yrs and 1 mo post file date before they will consider you.

If you burned them...its a toss up if they will consider you or not.

My file date was 05/2013, and I was approved for the cash+ on 6/3/18 for SL of $5k, after my app went to review. I also had opened up a Biz checking account before that, and they also approved me for a Biz Edge Visa on 7/26/18.

Everyone is different, and Ive also had a heck of a rebuild with several CC's with large CL's as well that Ive managed perfectly since DC, with some of those cards over 5 yrs old now. That combined with my Biz checking probably had alot to do with my approvals.

Plus, USB was NOT IIB for me.

Re: USB IIB -- chances of getting a new card?

Anonymous — Sun, 06 Jan 2019 17:51:12 GMT

@pizza1 wrote:
USB BK policy is 5 yrs and 1 mo post file date before they will consider you.

If you burned them...its a toss up if they will consider you or not.

My file date was 05/2013, and I was approved for the cash+ on 6/3/18 for SL of $5k, after my app went to review. I also had opened up a Biz checking account before that, and they also approved me for a Biz Edge Visa on 7/26/18.

Everyone is different, and Ive also had a heck of a rebuild with several CC's with large CL's as well that Ive managed perfectly since DC, with some of those cards over 5 yrs old now. That combined with my Biz checking probably had alot to do with my approvals.

Plus, USB was NOT IIB for me.

Yeah I’m expecting $500 purgatory for a year at least.

Re: USB IIB -- chances of getting a new card?

pizza1 — Mon, 07 Jan 2019 01:11:08 GMT

@Anonymous wrote:
@pizza1 wrote:
USB BK policy is 5 yrs and 1 mo post file date before they will consider you.

If you burned them...its a toss up if they will consider you or not.

My file date was 05/2013, and I was approved for the cash+ on 6/3/18 for SL of $5k, after my app went to review. I also had opened up a Biz checking account before that, and they also approved me for a Biz Edge Visa on 7/26/18.

Everyone is different, and Ive also had a heck of a rebuild with several CC's with large CL's as well that Ive managed perfectly since DC, with some of those cards over 5 yrs old now. That combined with my Biz checking probably had alot to do with my approvals.

Plus, USB was NOT IIB for me.
Yeah I’m expecting $500 purgatory for a year at least.

Im expecting a decline since you IIB them for a good amount, and them maybe offering you a secured card, but I could also be surprised if you got approval. You can always call the BD# on recon if you do get declined, and basically beg for a $500 SL just to get your foot in the door, and show history. At that point, then you probably will be stuck at $500 for at least a year. Let us know how it turned out, and good luck!