topic Re: US Bank Platinum Card under Review? in Credit Cards

US Bank Platinum Card under Review?

Anonymous — Wed, 28 Oct 2020 00:48:31 GMT

Hi,

I recently got approved and received a US Bank Platinum Card. This is my first time with US Bank but my credit score is very high, above 800.

On the day I received it I activated it, charged a few transactions as well as added an authorized user and requested a credit limit increase since the initial amount was rather low.

I then tried to use it later in the day and it said it was denied by the bank. I checked the App and it showed the card as still active and called them up. US Bank had me verify my identity several times and transferred me to several different departments and the last customer rep verfied my transactions but said my account was under review for "too much activity" and to expect a call back from a specialist within the next two days.

Today I logged into my US Bank app and noticed that the credit limit increase I'd requested had been approved and the amount updated--is this a good sign that they'll unblock my account?

It seems really weird that they'd manually review my account since none of these things should be big red flags. Was the manual review triggered by the credit limit request?

Thanks!

Re: US Bank Platinum Card under Review?

Remedios — Wed, 28 Oct 2020 01:09:44 GMT

I don't think it was your CLI request (if that were the case, my cards would never get out of "review"), but rather a combination of activating brand new card, adding AU, several transactions on a day one.

At some point, the computer must have "thought" you were getting ready to rob the world.

Additionally, because of high activity level, they might want to verify your identity to ensure card didn't end up in the wrong hands.

Different lenders have different level of twitchy behavior. US Bank tends to be on a proactive side, especially if it's your first US Bank product.

When it comes to fraud, scores mean nothing. If one was to create synthetic identy in order to commit fraud, they aren't going to sport charge offs and BKs.

Another possibility, Platinum card is typically BT card. Do you have other cards with higher than optimal utilization? If so, it could have contributed to "review"

Re: US Bank Platinum Card under Review?

Anonymous — Wed, 28 Oct 2020 01:22:09 GMT

From some Google searches, it seems US Bank is rather conservative in their approach and manual reviews are pretty typical for them? I've seen similar stories about US Bank manual reviews for new cards on this forum as well.

I don't plan on doing any balance transfers but do plan to make some larger purchases because of the 20 month no APR offer. I used to use American Express a lot but now mostly Discover, Costco Citi, and BoA Visa. I had a Chase Sapphire Reserve but recently canceled it.

Do you feel that my card will be restored since they just approved my credit increase?

Re: US Bank Platinum Card under Review?

Remedios — Wed, 28 Oct 2020 01:28:57 GMT

I hope so. Are you sure it's still restricted as of today?

Yes, they do a lot of manual reviews prior to approval and for CLI requests, but they do not restrict card use during the review. This is different

Re: US Bank Platinum Card under Review?

Anonymous — Wed, 28 Oct 2020 01:37:22 GMT

@Remedios wrote:
I hope so. Are you sure it's still restricted as of today?

Yes, they do a lot of manual reviews prior to approval and for CLI requests, but they do not restrict card use during the review. This is different

Not sure if it's active today.

The strange thing is that neither the app or Online Banking showed the card as being restricted even when the call center confirmed it as being under review.

Should I try to make a purchase with it to test it out?

Re: US Bank Platinum Card under Review?

Remedios — Wed, 28 Oct 2020 02:04:38 GMT

Go for it.

Re: US Bank Platinum Card under Review?

Anonymous — Wed, 28 Oct 2020 02:05:23 GMT

@Remedios wrote:
Go for it.

Just tried it, still denied lol.

Re: US Bank Platinum Card under Review?

Remedios — Wed, 28 Oct 2020 02:15:53 GMT

Any physical branches in your area?

Re: US Bank Platinum Card under Review?

Anonymous — Wed, 28 Oct 2020 02:17:01 GMT

@Remedios wrote:
Any physical branches in your area?

Not really but they said a specialist would call me back within two days to verify.

Re: US Bank Platinum Card under Review?

Remedios — Wed, 28 Oct 2020 02:37:03 GMT

Well, I think you have two distinct events happening concurrently.

First one is most likely fraud/identity verification process, and the second one was manual review for CLI.

At this point, it's best if you let the process play itself.

If you don't hear anything in three to five business days, you can call again, but I think you should just let them finish what they started.

Re: US Bank Platinum Card under Review?

Anonymous — Wed, 28 Oct 2020 02:39:22 GMT

@Remedios wrote:
Well, I think you have two distinct events happening concurrently.
First one is most likely fraud/identity verification process, and the second one was manual review for CLI.

At this point, it's best if you let the process play itself.
If you don't hear anything in three to five business days, you can call again, but I think you should just let them finish what they started.

Yes, the call center reps seemed kind of confused and kept transferring me. They couldn't override the block and said a "senior specialist" had to verify so you may be right.

Re: US Bank Platinum Card under Review?

Anonymous — Wed, 28 Oct 2020 02:45:47 GMT

They will contact you. But i would go into a physical branch and speak to a banking rep. Wordt case scenario is they may ask you to produce your tax forms from last year to verify income (may) but i wont worry about it too much. You triggered the system by using the card so many times so fast and asking for a increase, that all. Not to worry.

Re: US Bank Platinum Card under Review?

Anonymous — Wed, 28 Oct 2020 02:50:39 GMT

@Anonymous wrote:
They will contact you. But i would go into a physical branch and speak to a banking rep. Wordt case scenario is they may ask you to produce your tax forms from last year to verify income (may) but i wont worry about it too much. You triggered the system by using the card so many times so fast and asking for a increase, that all. Not to worry.

It was only 3 transactions though one was for $700 but I imagine that's hardly a big transaction with a card that seems designed for larger amounts.

Re: US Bank Platinum Card under Review?

Anonymous — Wed, 28 Oct 2020 02:57:58 GMT

That may be true but it was the quickness of the purchases and asking for an increase that may have triggered the system. Its an algorithm so thats why you need to go in and talk to a person. They told you someone will contact you in a few days right? Thats because someone from their credit department will be going over your paperwork. So you will get the call so please dont try to use the card again before it really triggers the paperwork aspect. (looking into your stated income)

Re: US Bank Platinum Card under Review?

Anonymous — Wed, 28 Oct 2020 03:07:04 GMT

@Anonymous wrote:
That may be true but it was the quickness of the purchases and asking for an increase that may have triggered the system. Its an algorithm so thats why you need to go in and talk to a person. They told you someone will contact you in a few days right? Thats because someone from their credit department will be going over your paperwork. So you will get the call so please dont try to use the card again before it really triggers the paperwork aspect. (looking into your stated income)

Got it.

They seem to have already approved my credit limit increase since it's already updated on the Online Banking and App.

Re: US Bank Platinum Card under Review?

Remedios — Wed, 28 Oct 2020 03:03:21 GMT

@Anonymous wrote:
That may be true but it was the quickness of the purchases and asking for an increase that may have triggered the system. Its an algorithm so thats why you need to go in and talk to a person. They told you someone will contact you in a few days right? Thats because someone from their credit department will be going over your paperwork. So you will get the call so please dont try to use the card again before it really triggers the paperwork aspect. (looking into your stated income)

That varies for everyone. I asked for increase the day I was approved, just like OP.

I used it till it needed a nap on a day one.

I'm not sure why you're focusing on income, that's the last thing US Bank would be looking for.

More likely culprit is ancillary report such as Sage Stream and any miscrepancy stemming from it.

Re: US Bank Platinum Card under Review?

Anonymous — Wed, 28 Oct 2020 03:04:58 GMT

That may be true, card still doesn't work according to you so you just have to wait. I won't sweat it

Re: US Bank Platinum Card under Review?

Anonymous — Wed, 28 Oct 2020 03:07:58 GMT

I was not focusing on income, but when any system uses the word review that means everything.

Re: US Bank Platinum Card under Review?

simplynoir — Wed, 28 Oct 2020 03:18:56 GMT

FWIW I don't think this is an income issue here. Sagestream and Innovis are pretty good at determining what a person's financial numbers look like and just correlate that with the HPs when the application is processed

Just think you just made too many actions (charges, AU added and increase request) that were a concern on the first day you had the card that the system flagged it for manual review as @Remedios said. Had you done one or even two of those three things it might have gone by unnoticed. But put them all together and that will get someone's attention

Re: US Bank Platinum Card under Review?

FinStar — Wed, 28 Oct 2020 03:21:52 GMT

@Anonymous wrote:
I was not focusing on income, but when any system uses the word review that means everything.

Not necessarily. It's really lender-specific. For US Bank, this is part of a fraud instance algorithm in which some additional verification or ID documents may be requested, if anything. So, before we tell the OP to provide everything including the kitchen sink, it's best to let the process play out, or as @Remedios already mentioned upthread.

It is fairly rare when US Bank requests POI after-the-fact. It's usually asked, if required or as part of any conditional approval, mainly with LOCs/PLOCs or some business products during the origination process.