topic Re: Is US Bank known for low limits, strict guidelines? in Credit Cards

Is US Bank known for low limits, strict guidelines?

Anonymous — Mon, 04 Mar 2019 21:33:27 GMT

My average credit limit is $7500, and really the cards below this limit are store cards, except for two, my Highest limit is $15000. For some reason, even with perfect payment history for a year, and moderately high usage, US bank will not increase me from the measly SL of $1200. Is US Bank just really strict with their CLIs or something? Or am I just unlucky.

Re: Is US Bank known for low limits, strict guidelines?

Peteyglad — Mon, 04 Mar 2019 21:46:02 GMT

Have you applied for a CLI and you were denied or are you saying you haven't applied and you were waiting for them to give you a CLI? For me they send a SP CLI offer every 1.5 - 2 years.

Re: Is US Bank known for low limits, strict guidelines?

McNugget — Mon, 04 Mar 2019 21:59:44 GMT

I don't think the credit card companies find one year of on-time payments to be *that* great. Could possibly be why you aren't getting that increase.

Re: Is US Bank known for low limits, strict guidelines?

Anonymous — Mon, 04 Mar 2019 22:03:24 GMT

Yes, sorry I didn’t add that. I have tried twice over the last year. I know the one year of history isn’t a whole lot, but most of the time I apply for a card I’m getting between 7.5-10k SLs. Guess it stinks the card I really want to use has such a low limit I have to constantly make payments and wait for my available credit to update.

Re: Is US Bank known for low limits, strict guidelines?

LittleSal — Mon, 04 Mar 2019 23:01:15 GMT

When you asked them for a CLI, was it a HP or SP?

Re: Is US Bank known for low limits, strict guidelines?

Anonymous — Mon, 04 Mar 2019 23:07:49 GMT

I'm curious to know this as well. If you are looking for a SP, it may be harder. You probably have to sacifice a HP if you want the CLI badly.

Re: Is US Bank known for low limits, strict guidelines?

Anonymous — Mon, 04 Mar 2019 23:14:37 GMT

When you say one year of perfect payments, am I right in assuming a year ago you had a late payment? I assume this because your high limits indicate a longer credit history. If that’s the case, having late payment(s) a year ago is relatively recent in credit terms, and you may find you have better luck when the late or lates age beyond two years.

Re: Is US Bank known for low limits, strict guidelines?

Anonymous — Tue, 05 Mar 2019 01:07:35 GMT

Never had a late payment before. Just opened the card a year ago.

Re: Is US Bank known for low limits, strict guidelines?

Anonymous — Tue, 05 Mar 2019 01:10:35 GMT

Never a late on this card or never a late on anything?

Re: Is US Bank known for low limits, strict guidelines?

Anonymous — Tue, 05 Mar 2019 01:26:48 GMT

What were your FICO scores when you asked for CLI? Also what was the reason given for the denials?

Perhaps US Bank is sensitive to all the other accounts you have opened relatively recently that you mentioned in your other post.

Re: Is US Bank known for low limits, strict guidelines?

Anonymous — Tue, 05 Mar 2019 01:39:38 GMT

I have perfect payment history, no negatives anywhere on my report.

But I guess they could be inq sensitive. But I only had two hard pulls recently. All my CLIs have been soft. So idk. They just don’t trust me with more than 1200 lol.

Re: Is US Bank known for low limits, strict guidelines?

Anonymous — Tue, 05 Mar 2019 07:33:49 GMT

I had great success with them recently. They gave me 2500 SL...IMMEDIATELY (before I got card) reconned for 15k. approved. Required HP for initial sign up and HP for CLI/recon.

I made a post in the approvals section with more details
https://ficoforums.myfico.com/t5/Credit-Card-Approvals/Approved-us-bank-cash-plus-6x-recon/td-p/5518024

Re: Is US Bank known for low limits, strict guidelines?

LittleSal — Tue, 05 Mar 2019 09:00:08 GMT

You could probably get a CLI if you take the HP. US Bank only gives small increases via the SP.

Re: Is US Bank known for low limits, strict guidelines?

noobody — Tue, 05 Mar 2019 10:00:17 GMT

US Bank treat me better than good.
They approved me two credit cards with highest SL for me (12K 15K) without prior relationship.
They throw small incentive (500 hotel points, $5 statement credit) to me if i accept SP CLI of 4500.
Eventually, i called in to REDUCE my Club Carlson from 20K to 1K (useless to me now), cash+ from 15k to 8K (capped rewards card doesn't need very high CL).
Last month I applied premier LOC, instant approved for almost 20K.

Re: Is US Bank known for low limits, strict guidelines?

UpperNwGuy — Tue, 05 Mar 2019 15:07:06 GMT

@Anonymous wrote:
My average credit limit is $7500, and really the cards below this limit are store cards, except for two, my Highest limit is $15000. For some reason, even with perfect payment history for a year, and moderately high usage, US bank will not increase me from the measly SL of $1200. Is US Bank just really strict with their CLIs or something? Or am I just unlucky.

You're in too much of a hurry. Be patient. One year of on-time payments is not going to impress a bank. A year is a fairly short time.