topic Re: US Bank Altitude Reserve: inqs in Credit Cards

US Bank Altitude Reserve: inqs

Anonymous — Tue, 04 Jun 2019 16:23:30 GMT

Looking at my daughter getting this. Issue is that she isn't currently a US Bank customer. The print says you need to have an open account at least 5 business days before applying, so that wouldn't be difficult, but as checking isn't available in her area, she would have to get a card.

She just got the Paypal card, but that's her only new account in the last 12 months. But, if she gets a throwaway US Bank credit card, and then applies for the Altitude Reserve, is that going to be too many inqs? Alternatively, would making her an AU on one of my US Bank cards make her enough of a customer for the Altitude? (Guessing not, but...!)

Re: US Bank Altitude Reserve: inqs

Anonymous — Tue, 04 Jun 2019 16:35:29 GMT

Hmm... well I'm not in their service area and here's what I did while not AR.

I apped for Cash+ and 365, went pending, denied, recon for manual review due to # of inq's which were modest 5-6 at the time, overturned the denial for 1K/ea and then called again for another review and bumped to 10K/ea.

Post approvals and after meeting the SUB for the cards decided to open Checking account w/ them for moving the rewards to a deposit account instead of redeeming them on the statements. I didn't have any issue opening the Checking account at that point.

Some have went through the specific process of opening a checking account and adding a CC through the process and taking a TU pull. When I did it my way it wasn't TU but EQ instead. Checking didn't result in a HP at all they just use ARS / Chexsystems.

Re: US Bank Altitude Reserve: inqs

Remedios — Tue, 04 Jun 2019 16:41:00 GMT

I dont think three inquires in a year would be too much, but based on what I was told by UW during recon for Cash+, for new customers they like to see minimum of six months app free time for AR app. I'm groveling over it.

Cash+ was opened because of AR but I actually like the card, so there is that. Either way, without checking, she's looking at waiting for a little bit.

I guess this is the right time for YMMV disclaimer.

Re: US Bank Altitude Reserve: inqs

K-in-Boston — Tue, 04 Jun 2019 17:45:55 GMT

I was wondering about the geographic restrictions since they offer me checking all the time and my closest US Bank branch is in Ohio, but it certainly looks like existing customers are eligible for checking accounts regardless, while new customers are georestricted.

Cash+ is certainly the gateway for many of us to Altitude Reserve. My file's thick and things are always YMMV, but I had no problems getting the Cash+ (other than quirky initial $500 SL that a lot of us got around that time, requiring recon to $15k) or Altitude Reserve with numerous inquiries and always being LOL/24. But again, for every case like mine, you're going to see another forum member with excellent credit that may have run into issues.

AR is a fantastic card (I keep saying it, but it bears repeating - I got this card to churn for the bonus but now find it an absolute keeper with its 4.5% back on non-category spend for mobile payments and instant mobile rewards redemption) and I think it's worth jumping through hoops if necessary. After the $325 travel credit, the AF is really only $75, and personally the gogoinflight WiFi passes alone already made that up for me. Cash+ seems to be good for a lot of people to get into USB. If I had to do it again, I likely would have grabbed one of the Korean Air or Aeromexico cards instead, but neither AR nor SkyTeam loyalty was really on my radar at the time.

The AU would not make her a customer. If the Cash+ is a throwaway, is there another card offered that makes sense? (Don't forget co-branded.)

Re: US Bank Altitude Reserve: inqs

simplynoir — Tue, 04 Jun 2019 17:50:16 GMT

@K-in-Boston wrote:
[...] but it certainly looks like existing customers are eligible for checking accounts regardless, while new customers are georestricted.

We're going to find out how hard this rule is when lending calls me to either decline my checking account app or ask for documentation hopefully between now and the end of the week at the latest. My gut tells me because of said geo-restrictions I'm going to get told no and gonna have go the Cash+ route to get in both with a card and opening a checking account. AR is definitely the endgame here.

Re: US Bank Altitude Reserve: inqs

imaximous — Tue, 04 Jun 2019 17:50:44 GMT

@Anonymous wrote:
Looking at my daughter getting this. Issue is that she isn't currently a US Bank customer. The print says you need to have an open account at least 5 business days before applying, so that wouldn't be difficult, but as checking isn't available in her area, she would have to get a card.

She just got the Paypal card, but that's her only new account in the last 12 months. But, if she gets a throwaway US Bank credit card, and then applies for the Altitude Reserve, is that going to be too many inqs? Alternatively, would making her an AU on one of my US Bank cards make her enough of a customer for the Altitude? (Guessing not, but...!)

How much time does she have to get the AR till her upcoming trip? If it's a few months away, then it shouldn't be a problem.

I'll start with the YMMV disclaimer... I got my AR in Feb 2018. That was about 10 days after I got the Cash+, which I only applied for to be eligible for the AR. I had a bunch of new accounts at the time of both USB apps. If I remember correctly, I'd added Lowe's, PP 2%, Uber, CFU, Penfed PCR, Pathfinder and a stupid $500 overdraft LOC (I didn't even realize I'd requested it while opening the checking account with Penfed). All those within 1 - 3 months prior to applying. Plus a few others in the last 12 or 24 months.

My AR app was denied at first, and I had to plead my case with an underwriter to send it for a second review. She didn't even want to submit for review because of all my new accounts, plus the Cash+ I'd just got a few days before. Eventually, a wonderful soul at USB approved me for the bare minimum $5k SL. Then, it took me about a year to finally get a CLI of 5x my SL.

That was my experience, but I probably had some luck on my side.

I don't know if AUs are considered customers for qualification purposes. You'd probably have to call and make sure before wasting a HP.

If you have a banking product, she could probably qualify if you add her as a joint account holder to a checking or savings account. That might be able to get her around the geofence, but not sure.

Re: US Bank Altitude Reserve: inqs

Remedios — Tue, 04 Jun 2019 18:05:00 GMT

Cash+ was auto denied for two new accounts in over a year. Recon worked, but preaching was involved.

If I "knew" I'd get the same chatty UW, I'd apply right now.

Also, I dont know if you care or not, but he also had copy of EWS and Sage Stream report available and seemed to care more about those two than TU pull once we passed the new accounts talk. It seemed he rely on those two SL wise 🤷

That's the only thing I dislike about them so far, too much human interaction at first. None since, so it's all good now.

Re: US Bank Altitude Reserve: inqs

imaximous — Tue, 04 Jun 2019 18:15:11 GMT

@Remedios wrote:
Cash+ was auto denied for two new accounts in over a year. Recon worked, but preaching was involved.
If I "knew" I'd get the same chatty UW, I'd apply right now.

Also, I dont know if you care or not, but he also had copy of EWS and Sage Stream report available and seemed to care more about those two than TU pull once we passed the new accounts talk. It seemed he rely on those two SL wise 🤷

That's the only thing I dislike about them so far, too much human interaction at first. None since, so it's all good now.

Now that I recall. My Cash+ was not auto-approved either. I had to call for a manual review on that app too

Re: US Bank Altitude Reserve: inqs

K-in-Boston — Tue, 04 Jun 2019 18:17:28 GMT

This is why these forums are great, because it's really obvious to see that US Bank, who rely mostly on manual underwriting, is the poster child for YMMV. Looking at it objectively, I likely should have been very borderline for my Cash+ approval with my approximately 5 new cards in the previous 6 months, @Remedios should have had them throwing money at her, and @imaximous appeared ripe for a declined application even upon recon due to numerous account in just the few months/weeks prior. But it all worked out (or will soon) in the end.

Re: US Bank Altitude Reserve: inqs

imaximous — Tue, 04 Jun 2019 18:50:38 GMT

@K-in-Boston wrote:
This is why these forums are great, because it's really obvious to see that US Bank, who rely mostly on manual underwriting, is the poster child for YMMV. Looking at it objectively, I likely should have been very borderline for my Cash+ approval with my approximately 5 new cards in the previous 6 months, @Remedios should have had them throwing money at her, and @imaximous appeared ripe for a declined application even upon recon due to numerous account in just the few months/weeks prior. But it all worked out (or will soon) in the end.

100%.

In retrospect, I shouldn't have been approved for the Cash+ and much less for the AR with all the new INQs and accounts leading to the USB apps. I won't complain, though. The AR has been really great all around for me. I was lucky to get it at a time when I was pretty much fed up with point transfers, award availability, etc. Mobile wallet with Samsung Pay for 4.5x was my biggest discovery last year

The Cash+ was supposed to be a throwaway card, and I'm squeezing 5% month after month on utilities, which almost max out every quarter. I didn't have a good card for that before USB added Utilities.

Re: US Bank Altitude Reserve: inqs

Shadowfactor — Tue, 04 Jun 2019 19:12:26 GMT

You guys don’t even want me to get started on my USB experience and new accounts 😂

In all seriousness though, USB has been a great bank and I’ve been very happy with them.

They approved me with a co-signer for 4K on a FlexPerks when my credit was in the dumps. I think around 600 FICO. Only had the USB secured card for 3 months too.
It’s been a pleasant relationship ever since.

AR is a fantastic card, but it’s not a good card as a joint account. The travel credit and WiFi passes far exceed the AF so anything after that is pure gravy. Especially for international travel in developed countries that accept mobile pay.

Re: US Bank Altitude Reserve: inqs

Anonymous — Tue, 04 Jun 2019 19:53:16 GMT

@imaximous wrote:
@Anonymous wrote:
Looking at my daughter getting this. Issue is that she isn't currently a US Bank customer. The print says you need to have an open account at least 5 business days before applying, so that wouldn't be difficult, but as checking isn't available in her area, she would have to get a card.

She just got the Paypal card, but that's her only new account in the last 12 months. But, if she gets a throwaway US Bank credit card, and then applies for the Altitude Reserve, is that going to be too many inqs? Alternatively, would making her an AU on one of my US Bank cards make her enough of a customer for the Altitude? (Guessing not, but...!)
How much time does she have to get the AR till her upcoming trip? If it's a few months away, then it shouldn't be a problem.

If it happens its two or three months, but the issue is she will been going from a very well paid tech worker to an almost unpaid grad student in another country, so obviously she would want to apply while still employed here! I didn't suggest the cash plus because of the FTF, so was thinking of one of the no AF cards as the "make me a customer" card.

Are the travel rewards unrestricted? I seem to remember some system where flights had to start (or end or both?) in the US

Re: US Bank Altitude Reserve: inqs

Caught750 — Tue, 04 Jun 2019 19:57:29 GMT

Echoing what others have said US Bank seems to like what they like and is exceedingly generous if they like you.

I applied for Cash+ (first product with them) while lol/24. It was not instant but was approved in less that 2 hrs for $4.5k which was reasonable given my profile at the time.

I opened checking within a week and had both for 6 months.

Fast forward 6 months and I’m even more LOL/24. Applied for Altitude and was approved for $9k in less than 24 hrs.

1 month later I got an auto increase on Cash+ bringing me up $6.5k and $15.5k exposure. US Bank has been nothing but generous to me and a joy to work with.

It’s certainly YMMV as new accts and inqs were never a speed bump, let alone road block, for me

Re: US Bank Altitude Reserve: inqs

K-in-Boston — Tue, 04 Jun 2019 20:03:03 GMT

@Anonymous wrote:
Are the travel rewards unrestricted? I seem to remember some system where flights had to start (or end or both?) in the US

I could be mistaken, but I think the restrictions you're thinking of may have been what triggers the airline credit on Bank of America Premium Rewards? As long as the charge codes as a travel category, it should be fine. My annual credit was used for paid Delta F upgrades, and I've used RTR for Delta flights booked directly with Delta, and the credit appeared immediately even though the charges took a few days to settle so I actually had a negative account balance for a few days. I thought I had a KLM example to report for you, but now that I look, that was actually Amex.

Re: US Bank Altitude Reserve: inqs

pizza1 — Tue, 04 Jun 2019 20:07:08 GMT

I wish I was a traveler! I almost want to try for this card just because though lol! Existing customer for a year with business checking and CC, and Cash + . But, Im gardening, I can't.

Re: US Bank Altitude Reserve: inqs

Anonymous — Tue, 04 Jun 2019 20:08:03 GMT

@K-in-Boston wrote:
@Anonymous wrote:
Are the travel rewards unrestricted? I seem to remember some system where flights had to start (or end or both?) in the US
I could be mistaken, but I think the restrictions you're thinking of may have been what triggers the airline credit on Bank of America Premium Rewards? As long as the charge codes as a travel category, it should be fine. My annual credit was used for paid Delta F upgrades, and I've used RTR for Delta flights booked directly with Delta, and the credit appeared immediately even though the charges took a few days to settle so I actually had a negative account balance for a few days. I thought I had a KLM example to report for you, but now that I look, that was actually Amex.

Sorry, I meant travel redemptions. I assume the booking system is pretty standard but wanted to check!

Re: US Bank Altitude Reserve: inqs

imaximous — Tue, 04 Jun 2019 20:21:44 GMT

@Anonymous wrote:
@K-in-Boston wrote:
@Anonymous wrote:
Are the travel rewards unrestricted? I seem to remember some system where flights had to start (or end or both?) in the US
I could be mistaken, but I think the restrictions you're thinking of may have been what triggers the airline credit on Bank of America Premium Rewards? As long as the charge codes as a travel category, it should be fine. My annual credit was used for paid Delta F upgrades, and I've used RTR for Delta flights booked directly with Delta, and the credit appeared immediately even though the charges took a few days to settle so I actually had a negative account balance for a few days. I thought I had a KLM example to report for you, but now that I look, that was actually Amex.
Sorry, I meant travel redemptions. I assume the booking system is pretty standard but wanted to check!

For redemptions using the USB travel portal, you can use the points for anything there. For Real-Time Rewards (RTR), there are some rules. The more restrictive ones are $500 minimum for hotels and $250 for car rentals. More importantly, for RTR to trigger, the purchase must be at a US merchant. For instance, if you have a hotel stay in a foreign country that meets the $500 minimum, you won't get the text message.

There's also no partial redemptions for RTR. You have to have enough points to cover the entire purchase or RTR won't trigger.

On the portal, you can use partial points if you don't have enough.

But, I'd still try to stay away from booking on the portal and redeem using RTR.

Re: US Bank Altitude Reserve: inqs

K-in-Boston — Tue, 04 Jun 2019 20:21:05 GMT

I can't say for sure on RTR, but at least in the travel portal international itineraries are widely available. (Also that's a nice round-trip price for J from Hong Kong to Dhaka via Kuala Lumpur!)

Re: US Bank Altitude Reserve: inqs

imaximous — Tue, 04 Jun 2019 20:33:20 GMT

FYI, not to be captain obvious, but you have to sign up for RTR and then select the categories that you want to trigger the text message for redemption. There's a list of merchant types, but I'd only select the travel categories to get 1.5x value. Everything non-travel through RTR is 1x only, which would make the card 3x and not 4.5x.

Re: US Bank Altitude Reserve: inqs

Winesnoblv — Tue, 04 Jun 2019 22:53:35 GMT

I don't think the number of inquiries is going to be a problem. I was approved for the Altitude Reserve last year with 3 new accounts in 6 months. I applied at my branch and was sent for a manual review (which seems to be normal business practice for this card). She contacted me later in the day with the approval for $5k. I called UW the next day and requested an increase to $10k and was approved within minutes.

At the time I had been a banking customer for over 18 years.