topic Re: US Bank in Credit Cards

US Bank

Anonymous — Tue, 21 Jul 2009 18:46:42 GMT

After seeing several threads about US Bank, DH decided to app - he got the 7-10 day message, and I sat back to see which bureau they pulled.

An inquiry never appeared, but yesterday, we received a letter indicating that they can't consider our app b/c our residence is outside of their trade area.

Has anyone else ever seen/heard of this?

We are in Texas...

***********************************************************************
800FICOwannabe

07/01/09 - FICO scores: EQ - 696, TU - 622 (Asset Acceptance reinserted as a new collection)
06/01/09 - FICO scores: EQ - 637, TU - 641
05/04/09 - FICO scores: EQ - 660, TU - 647
04/21/09 - FICO scores: EQ - 711, TU - 642
09/09/08 - Mortgage Enhanced: EQ - 607, EX - 556, TU - 534

Re: US Bank

Anonymous — Tue, 21 Jul 2009 19:54:00 GMT

@Anonymous wrote:
After seeing several threads about US Bank, DH decided to app - he got the 7-10 day message, and I sat back to see which bureau they pulled.

An inquiry never appeared, but yesterday, we received a letter indicating that they can't consider our app b/c our residence is outside of their trade area.

Has anyone else ever seen/heard of this?

We are in Texas...

***********************************************************************
800FICOwannabe

07/01/09 - FICO scores: EQ - 696, TU - 622 (Asset Acceptance reinserted as a new collection)
06/01/09 - FICO scores: EQ - 637, TU - 641
05/04/09 - FICO scores: EQ - 660, TU - 647
04/21/09 - FICO scores: EQ - 711, TU - 642
09/09/08 - Mortgage Enhanced: EQ - 607, EX - 556, TU - 534

Yes. Many, maybe even most, non-internet banks will not accept applications for credit from those living outside their service areas. Nothing sinister going on at all. That's just the way it is.

Re: US Bank

Anonymous — Tue, 21 Jul 2009 20:39:51 GMT

The only other major bank that does this that I'm aware of is National City. You can avoid this problem with both US Bank and National City by applying for one of their cobranded or affinity cards instead.

Re: US Bank

Anonymous — Tue, 21 Jul 2009 20:40:56 GMT

Do you know who those "cobranded/affinity" cards are?

Re: US Bank

cabana7 — Wed, 22 Jul 2009 13:57:31 GMT

Academy (sporting goods) or Harley Davidson are cobranded but be careful they don't like inquiries even if you have a high credit score

Re: US Bank

ocheosa — Wed, 22 Jul 2009 19:42:20 GMT

US Bank has a cobranded Bed Bath & Beyond variable APR 14.99%. Maybe you have a store in your area?

https://applications.usbank.com/oad/begin?locationCode=6309&productId=20&sourceCode=59003&theme=usbank&applynow_id=r4317

Re: US Bank

mt2va — Wed, 22 Jul 2009 19:51:59 GMT

@Anonymous wrote:
After seeing several threads about US Bank, DH decided to app - he got the 7-10 day message, and I sat back to see which bureau they pulled.

An inquiry never appeared, but yesterday, we received a letter indicating that they can't consider our app b/c our residence is outside of their trade area.

Has anyone else ever seen/heard of this?

We are in Texas...

I had this same thing happen. I'm in Virginia. I also tried as another poster suggested the Bed Bath & Beyond co-branded MC & was denied. My scores are a bit lower than yours.

Re: US Bank

ocheosa — Wed, 22 Jul 2009 21:00:32 GMT

@mt2va wrote:
@Anonymous wrote:
After seeing several threads about US Bank, DH decided to app - he got the 7-10 day message, and I sat back to see which bureau they pulled.

An inquiry never appeared, but yesterday, we received a letter indicating that they can't consider our app b/c our residence is outside of their trade area.

Has anyone else ever seen/heard of this?

We are in Texas...

I had this same thing happen. I'm in Virginia. I also tried as another poster suggested the Bed Bath & Beyond co-branded MC & was denied. My scores are a bit lower than yours.

I find this so strange, I am in NJ - You are actually closer to a brick & mortar branch than me. I do not understand how a "trade area" is determined? Can someone please explain?

Re: US Bank

Anonymous — Wed, 22 Jul 2009 21:44:45 GMT

@ocheosa wrote:
@mt2va wrote:
I find this so strange, I am in NJ - You are actually closer to a brick & mortar branch than me. I do not understand how a "trade area" is determined? Can someone please explain?

-They view their credit card and interest rates as an incentive to generate brick and mortar business. So they only want locations that facilitate this.
-They simply do not want to extend business to specific geographic or economic areas. There are entire Zip codes in Ohio that banks will not finance home loans on

-they have some statute or agreement that limits their buisiness area.

Are you living in the Continental US?

Re: US Bank

ocheosa — Wed, 22 Jul 2009 22:57:37 GMT

@Anonymous wrote:
@ocheosa wrote:
@mt2va wrote:
I find this so strange, I am in NJ - You are actually closer to a brick & mortar branch than me. I do not understand how a "trade area" is determined? Can someone please explain?
-They view their credit card and interest rates as an incentive to generate brick and mortar business. So they only want locations that facilitate this.
-They simply do not want to extend business to specific geographic or economic areas. There are entire Zip codes in Ohio that banks will not finance home loans on
-they have some statute or agreement that limits their buisiness area.

Are you living in the Continental US?

Yes, I am in New Jersey. Thanks for the explanation. So if the bank cannot finance the loan does this mean it is USDA loan areas or something to this effect?

Re: US Bank

Anonymous — Wed, 22 Jul 2009 23:23:42 GMT

@Cumulus's wrote:
@Coaches wrote:
@Manta wrote:
I find this so strange, I am in NJ - You are actually closer to a brick & mortar branch than me. I do not understand how a "trade area" is determined? Can someone please explain?
They view their credit card and interest rates as an incentive to generate brick and mortar business. So they only want locations that facilitate this.
They simply do not want to extend business to specific geographic or economic areas. There are entire Zip codes in Ohio that banks will not finance home loans on
They have some statute or agreement that limits their business area.

Are you living in the Continental US?

This is called redlining at it is an illegal practice. If they do deny your application for such a loan I sure hope that isn't the proffered reason.

Re: US Bank

clocktick — Thu, 23 Jul 2009 02:11:55 GMT

Is there a list of which states they'll grant credit cards to? I'm in NY and was planning on applying there.

Re: US Bank

clocktick — Thu, 23 Jul 2009 02:16:05 GMT

I just noticed their secured card has a list of states. I guess this applies to the rest of their cards as well?

http://www.usbank.com/cgi_w/cfm/creditcards/secured/usb_secured_card.cfm?ics_src=7109