topic Re: UMB Bank -- Approval Criteria/Quirks? in Credit Cards

UMB Bank -- Approval Criteria/Quirks?

Ushio — Thu, 02 Jan 2025 19:13:16 GMT

Hey, All,

UMB has a credit card (Bullion Card) that I am interested in, but they don't seem to offer any preapprovals and it isn't a bank with an excess of information about their criteria out there (compared to say, Chase or Citi).

I was wondering if anyone was familiar with them and what they look for so I know whether I'm at a good place to take the plunge and apply or whether I should garden for a bit longer before trying.

My /24 velocity is somewhat high but my /12 is more stable, and I do have available credit in excess of my income which I think are the two most likely hang ups on my profile.

Thanks in advance for any insight.

Re: UMB Bank -- Approval Criteria/Quirks?

RootDet — Wed, 09 Apr 2025 16:50:39 GMT

Did you ever apply? It popped up my radar today too.

Re: UMB Bank -- Approval Criteria/Quirks?

Ushio — Wed, 09 Apr 2025 17:47:58 GMT

@RootDet wrote:
Did you ever apply? It popped up my radar today too.

Yeah. Got denied ostensibly for debt-to-income ratio. Didn't bother with recon. Not a very useful data point, honestly.

Though I guess it is worth nothing that they are apparently sensitive to DTI. It was never an issue with any of my other cards and mine has not changed significantly in some time.

Re: UMB Bank -- Approval Criteria/Quirks?

ptatohed — Wed, 09 Apr 2025 19:06:49 GMT

Assuming a penny per point, that is a pretty nice selection of 3% cats.

Earn three points per dollar spent at gas stations, grocery stores, discount stores, restaurants and fast food locations. Earn one point per dollar spent on all other purchases.

https://www.umb.com/personal-banking/credit-cards

Discount stores is the standout as that's a difficult cat to get 5% in.

Re: UMB Bank -- Approval Criteria/Quirks?

Aim_High — Wed, 09 Apr 2025 19:50:49 GMT

@ptatohed wrote:
Assuming a penny per point, that is a pretty nice selection of 3% cats.

Earn three points per dollar spent at gas stations, grocery stores, discount stores, restaurants and fast food locations. Earn one point per dollar spent on all other purchases.

https://www.umb.com/personal-banking/credit-cards

Discount stores is the standout as that's a difficult cat to get 5% in.

FYI, @ptatohed, OP wasn't applying for that linked card (Simply Rewards.) He mentioned the APMEX precious metals exchange "Bullion" Visa Card which has enhanced rewards on precious metals investments. But yes, that Simply Rewards is a pretty decent card. I product-changed into it several years ago.

Re: UMB Bank -- Approval Criteria/Quirks?

Kforce — Wed, 09 Apr 2025 22:04:19 GMT

@Aim_High wrote:
FYI, @ptatohed, OP wasn't applying for that linked card (Simply Rewards.)
But yes, that Simply Rewards is a pretty decent card.
I product-changed into it several years ago.

Are the points 1c each, 3% cashback?

How are the points redeemed?

Do you like the institution or had any problems?

I realize a little off OP, but I like the card as an option for my daughter.

Looking at a few others also.

Want a 3% across at least 4 cat's with no or high limits.

This looks very nice.

Thanks ;

Re: UMB Bank -- Approval Criteria/Quirks?

FicoMike0 — Wed, 09 Apr 2025 22:46:06 GMT

never heard of turned down for dti. Good old United miserly bank.

Re: UMB Bank -- Approval Criteria/Quirks?

coldfusion — Thu, 10 Apr 2025 10:27:18 GMT

For a while several years ago there was a fairly steady stream of data points shared here which IIRC coincided with their DC Comics-themed credit cards becoming available. From memory they appeared to be VERY sensitive to the number of existing cards an applicant already had regardless of income/AAoA/AoYA/scores, there were a lot of denials reported and there was kind of a running joke tied to how few cardholders there were.

Re: UMB Bank -- Approval Criteria/Quirks?

Aim_High — Sun, 13 Apr 2025 16:39:35 GMT

@Kforce wrote:
@Aim_High wrote:
FYI, @ptatohed, OP wasn't applying for that linked card (Simply Rewards.)
But yes, that Simply Rewards is a pretty decent card.
I product-changed into it several years ago.
Are the points 1c each, 3% cashback?
How are the points redeemed?
Do you like the institution or had any problems?

I realize a little off OP, but I like the card as an option for my daughter.
Looking at a few others also.
Want a 3% across at least 4 cat's with no or high limits.
This looks very nice.

Thanks ;

Sorry for the delay in answering @Kforce. I've been traveling this week.

The AFBA/UMB card is currently my 2nd oldest card, which is one reason I have hung onto it. I got it in 1997 as a low APR card affiliated with the Armed Forces Benefits Association (AFBA) since I am a veteran. (The AFBA no longer offers credit cards but did at that time.) When I got it, the card was issued through 5 Star Bank in Colorado. Rewards credit cards were less common back then and I liked having this card for what was at the time a good APR. A few years later, the affiliation was transferred to UMB. My original UMB card had poor rewards (more like a credit union 1% card) and I didn't use it much for purchases. However, I did use it for some BT offers. Later, I was able to product-change it into the Simply Rewards. Over the years, it has had periods of increased use but it's mainly a sock drawer card for me now. I'll explain why in a minute.

The rewards structure is respectable with the 3% (yes, a penny-a-point so essentially 3%) on restaurants, gas, groceries, and discount stores with no AF and no spending caps. It earns just 1% elsewhere. Product-changing into Simply Rewards definitely made this card more useful in a rewards perspective, but I now have other cards that earn 3% or higher on all those categories. I agree that, as a rewards card, it could be a contender for a simple wallet. I earn more than 3% on restaurants with my Chase Sapphire Reserve, BofA Premium Rewards Elite, or Verizon Visa. I earn more than 3% on gas with my CITI Costco or Verizon Visa. I earn more than 3% on groceries with my BofA CCR or Verizon Visa. I earn 3% on my AOD FCU Visa uncategorized, up to $1500 per month. So overall, this card is in the ball park for good rewards but doesn't exceed my other cards. YMMV.
I haven't done an extensive comparison, but I did find that I sometimes didn't get "discount store" rewards where I expected to, such as at a Family Dollar store once.
Rewards can be redeemed starting at 2500 points for a $25 statement credit. You can also redeem for "Pay Me Back" for charges within the past 90 days. *There is no provision to put cash rewards into a bank account. The rewards portal also allows redemption for merchandise, travel, events, and gift cards. Like most rewards portals, I've usually found poor value when I compared merchandise options. I've never used the travel or events rewards. Gift cards redeem at 1 cent per point normally starting at $25 minimum, just like statement credit. Of course, there is a nominal amount lost on the rewards opportunity cost when redeeming for gift cards so a little less than 3% on the higher categories.
I got some attractive Balance Transfer offers on this card, including one that was a low APR until paid-in-full. I used it during my period of financial distress when I was rolling around some larger balances. I believe the BT offer helped me to get a CLI on this card. I've never put heavy spending on it, so am unsure how easy it is to get auto CLI through spending. Requested CLI are hard pulls.
As more of a regional bank and the 54th largest in the nation, UMB's technology has never really impressed me. Their website and mobile app were severely out-of-date until a few years ago when they did a major update. It was an improvement but it still has a very basic interface.
My affiliate card is not contactless, which I have grown to enjoy on my other cards. (I've never asked if they would just convert the card to their own card.) The UMB website appears to show the Simply Rewards as a contactless card. My card does have chip technology, at least.
My biggest disappointments with UMB are fraud prevention and customer service. I've had a few instances of fraud. My other lenders are much more proactive and often see the fraud before I detect it, contact me, and replace my card quickly. I've never had UMB detect fraud, and they have asked me to fill out paperwork and snail mail it back to process the incident. However, they've always reimbursed me. Customer service has seemed to lag my larger lenders when I've needed to contact them. The past few years, I've put mainly "keep-alive" charges on the card since I believe it was compromised at point-of-purchase and was annoyed with the fraud issues. I highly value active fraud detection on my credit cards.
I cannot speak to their current underwriting requirements due to how my affiliate card was transferred to them and how long I've had it.
From my understanding, there are geo-footprint restrictions to be eligible for UMB's cards. Per this posting from @swankytiger,
the card is geofenced to states where UMB has a physical branch. UMB Bank branches and ATMs are located in the following states:

Overall, I won't say not to get this card, but my customer experience has been mixed.

Re: UMB Bank -- Approval Criteria/Quirks?

Aim_High — Sun, 13 Apr 2025 16:53:29 GMT

There was one other point that I forgot to mention, especially as it pertains to my situation where I sock-drawered the card and periodically added "keep alive" charges. Unlike many rewards programs where points never expire, the Simply Rewards Program Rules state that points expire the 5th year after they were earned. Since there is a minimum $25 redemption, there is the chance of losing rewards if the account goes idle. They won't remind you and I had this happen before.

Re: UMB Bank -- Approval Criteria/Quirks?

MileHigh96 — Tue, 15 Apr 2025 12:43:30 GMT

Here's one DP I haven't seen noted yet. I applied for that card about 6 months ago, give or take, because I do buy a fair amount of coins/bullion and thought the card would be great. Immediately denied because of the BK on my reports, so UMB is definitely NOT BK friendly as that was the only denial reason I got. Maybe they get more lenient the older the BK is, but that I have no idea about.