topic Re: US Bank strategy ? in Credit Cards

US Bank strategy ?

lg8302ch — Sun, 22 Dec 2013 11:09:46 GMT

Good morning everybody

What do you think of my idea/plan? (not now but in December 2014 where most of my inq will have fallen off) As many of you might know I would be very interested in the US Bank Cash+ card but do not live in their service area. Now I thought maybe it would be easier to get approved if already a US Bank customer? The app I would do during a vacation near a US Bank branch and in person.

The card that I would be interested for that purpose as it allows online app and looks very interesting to me

Club CarlsonSM Premier Rewards Visa Signature®

But what makes me wonder is that this card does not get mentioned here at all? Why? Hard to get ? Anyone has it and if yes how do you like it?

Love to hear your thoughts about my plan and feedback to above mentioned card. Thks in advance

Re: US Bank strategy ?

Anonymous — Sun, 22 Dec 2013 12:04:36 GMT

Your scores and CLs would qualify you for a Cash+ card right now. I don't know how many inquiries you have, or what effect they would have.

The Club Carlson card has an AF, and may be downgraded at application to a lesser card, if not approved.

Unless you really want this card, I think I'd wait and just apply for the Cash+ during your vacation.

Re: US Bank strategy ?

lg8302ch — Sun, 22 Dec 2013 12:22:13 GMT

@Anonymous wrote:
Your scores and CLs would qualify you for a Cash+ card right now. I don't know how many inquiries you have, or what effect they would have.

The Club Carlson card has an AF, and may be downgraded at application to a lesser card, if not approved.

Unless you really want this card, I think I'd wait and just apply for the Cash+ during your vacation.

Thanks. My scores maybe but not my report...LOL...best example is Discover which cannot CLI after 12 months .... 1 card 27yrs, 1 card 2yrs and the rest is from end 2012 and early 2013... so quite spooky profile for many lenders. I will garden for a while and if I am close to a US Bank branch apply for the Cash+ but also fear that it could be downgraded (many horror stories here from phone apps) and looking at the US Bank cards there is only the Cash+ or the Club Carlson Premier Visa Signature that I could use. The hotel card is kind of self paying but not if downgraded. . Honestly I much rather have a declined app than a card that I did not apply for. Wish US Bank would ask prior to simply offer another product so the customers could decide to not go further. I hate to cut my AAoA for a useless card and much rather take the inq and let it be if not approved.

Re: US Bank strategy ?

B335is — Sun, 22 Dec 2013 12:47:38 GMT

How many total new accounts do you have in the last 12 months? US Bank can be difficult in that regard. They are also known to obtain info from ARS and IDA in addition to the more common bureaus.

Club Carlson card has one of the best sign up offers out there. I applied for it a few months back and was denied for too many new accounts this year (15) which was provided by ARS (in addition to the EQ pull). I was denied with no chance of reconsideration.

Re: US Bank strategy ?

lg8302ch — Sun, 22 Dec 2013 13:00:01 GMT

@B335is wrote:
How many total new accounts do you have in the last 12 months? US Bank can be difficult in that regard. They are also known to obtain info from ARS and IDA in addition to the more common bureaus.

Club Carlson card has one of the best sign up offers out there. I applied for it a few months back and was denied for too many new accounts this year (15) which was provided by ARS (in addition to the EQ pull). I was denied with no chance of reconsideration.

ups.....7 new out of total 9 accounts (CL from 8,5K to 99,6K) with HP from these apps with some even double pulls (Chase) and triple(Cap1)....so I know that is probably the reason their website only offers me their debit card...LOL..for sure not a good idea in the near future then for US Bank and might postpone it to 2016 then...agree the sign up bonus is one of the best and the renewal bonus is for sure self paying that is why I would keep it and do not mind the AF 75$ ..thanks for this info. Looks that US Bank is even more inq sensitive than Barclays?

Re: US Bank strategy ?

B335is — Sun, 22 Dec 2013 13:12:29 GMT

@lg8302ch wrote:
@B335is wrote:
How many total new accounts do you have in the last 12 months? US Bank can be difficult in that regard. They are also known to obtain info from ARS and IDA in addition to the more common bureaus.

Club Carlson card has one of the best sign up offers out there. I applied for it a few months back and was denied for too many new accounts this year (15) which was provided by ARS (in addition to the EQ pull). I was denied with no chance of reconsideration.
ups.....7 new out of total 9 accounts (CL from 8,5K to 99,6K) with HP from these apps with some even double pulls (Chase) and triple(Cap1)....so I know that is probably the reason their website only offers me their debit card...LOL..for sure not a good idea in the near future then for US Bank and might postpone it to 2016 then...agree the sign up bonus is one of the best and the renewal bonus is for sure self paying that is why I would keep it and do not mind the AF 75$ ..thanks for this info. Looks that US Bank is even more inq sensitive than Barclays?

I wouldn't say they're inq sensitive, but I would say they're new acct sensitive. All of my inquiries are on EX and TU, they pulled my EQ which had 3. When I called for recon, the rep told me to try again in 6 months and hung up...not even a pause for me to thank him. I thought people in Fargo were friendlier than that haha. Ironically I app'd for the Arrival card at the same time and was approved the next day.

I tend to use my bonuses and accrued points to force myself to go on a nice international vacation - otherwise I would never do anything like that for myself. The free nights with this card really pay off when staying overseas as those properties tend to be nicer than in the U.S. I'm also surprised it isn't talked up a bit more around here.

Re: US Bank strategy ?

lg8302ch — Sun, 22 Dec 2013 13:19:44 GMT

@B335is

Have you considered to freeze IDA and ARS? Wonder if this can be done? Also wonder if any others pull ARS or IDA in addition to the 3 major CRAs?

Re: US Bank strategy ?

JediNeo — Sun, 22 Dec 2013 14:03:24 GMT

When applying in person or over the phone can you ask not to be PC upfront front if denied? Or is that something the computer automatically does?

Re: US Bank strategy ?

lg8302ch — Sun, 22 Dec 2013 14:11:11 GMT

@JediNeo wrote:
When applying in person or over the phone can you ask not to be PC upfront front if denied? Or is that something the computer automatically does?

Interesting question especially for app in person in branch if it requires further review and not an instant decision is granted

Re: US Bank strategy ?

alvon123 — Sun, 22 Dec 2013 14:48:59 GMT

@lg8302ch wrote:
@B335is
Have you considered to freeze IDA and ARS? Wonder if this can be done? Also wonder if any others pull ARS or IDA in addition to the 3 major CRAs?

YES it can be done , just do a search on google. The Freeze is mainly done for the USBanks Club Carlson card

Re: US Bank strategy ?

lg8302ch — Sun, 22 Dec 2013 14:59:00 GMT

@alvon123 wrote:
@lg8302ch wrote:
@B335is
Have you considered to freeze IDA and ARS? Wonder if this can be done? Also wonder if any others pull ARS or IDA in addition to the 3 major CRAs?

YES it can be done , just do a search on google. The Freeze is mainly done for the USBanks Club Carlson card

Thanks.. saw that and now would love to find out what is on that ARS and IDA reports compared to TU/EQ/EX and who reports to them. Now curious to find out what is on these reports and mission before freeze is to check info on my reports. If similar to the 3 big ones then I will leave it but if there is info going further into details I will freeze and if not allowed to check my own reports then I will freeze as well.

http://ficoforums.myfico.com/t5/General-Credit-Topics/ARS-IDA-reports/m-p/2670655

Re: US Bank strategy ?

Anonymous — Sun, 22 Dec 2013 15:27:24 GMT

@JediNeo wrote:
When applying in person or over the phone can you ask not to be PC upfront front if denied? Or is that something the computer automatically does?

The possibility of a downgrade is stated in the T & C, and the need for a branch visit is also stated.

Your experience in these areas may differ from others, but I wouldn't count on US Bank making an exception for you. You might end up in a worse position than when you started.

To the OP, I don't think I'd apply for one US Bank CC, in the hopes of getting another, if you are currently concerned with your inquiries and how your reports look. I think I'd stop applying altogether for a while, except for soft CLIs.

Another thing here is that US Bank is planning to come out with an Amex CC next year, and it might have features that make it worth shooting for, in lieu of other CCs.

Re: US Bank strategy ?

lg8302ch — Sun, 22 Dec 2013 15:46:42 GMT

I think I will stay away from US Bank for at least another year and hope their T&C will change in the meantime as I hate blind apps. I like to select the cards I apply and do not want a card just to have a card. Goal is to get my selected card or nothing. I mean if it is Visa or Visa Signature or MC or WMC is it fine but a completely different card ..NO THANKS.

Re: US Bank strategy ?

flowfaster — Sun, 22 Dec 2013 19:08:35 GMT

I love US Bank. I have both the Cash+ and the Club Carlson Business cards(lower AF & no chance at the lower version). US Bank matched my Cash+ line when I apped for the Club Carlson Business Card (7-10 day message BTW) at $11.5k. I was very pleased to say the least.

The Club Carlson card is really a very good card. The current point redemption system will not last long in it's current form IMO. You get 10 points on all spend because of the buy one get one free nights(special for card holders). So just like the original Cash+, the earlier you get this card the better.

Re: US Bank strategy ?

Anonymous — Sun, 22 Dec 2013 19:21:59 GMT

I've had great success with my general banking (have had my primary checking & savings acts there for several years) at the local branches. I applied online for the one cc I have through them, and was initially denied, but because my $120k in (deferred) student loans is a bit intimidating for banks to look at when considering credit, their only concern was my income. Once I added hubby to it, the card was approved.

It's only a securred, but hope this helps. I recommend the bank, and especially the local branches.

Re: US Bank strategy ?

Anonymous — Sun, 22 Dec 2013 19:35:51 GMT

US Bank informs me they are strong on banking relationships. I can say many of their products fit well with my needs. They do have a US Bank Relationship Scoring System that is used (not sure how). Whether you really need to have a relationship with US Bank to obtain their US Bank Cash+ Visa Signature Card is in question. Several posters on this site have found interesting ways to obtain their card. Before you join them (unless you have an itnerest) look at the ways people have obtained the Cash+ Card.

Re: US Bank strategy ?

Anonymous — Sun, 22 Dec 2013 19:41:47 GMT

@Anonymous wrote:
US Bank informs me they are strong on banking relationships. I can say many of their products fit well with my needs. They do have a US Bank Relationship Scoring System that is used (not sure how). Whether you really need to have a relationship with US Bank to obtain their US Bank Cash+ Visa Signature Card is in question. Several posters on this site have found interesting ways to obtain their card. Before you join them (unless you have an itnerest) look at the ways people have obtained the Cash+ Card.

A previous relationship is not required for the Cash+.

Re: US Bank strategy ?

lg8302ch — Sun, 22 Dec 2013 20:21:01 GMT

@flowfaster wrote:
I love US Bank. I have both the Cash+ and the Club Carlson Business cards(lower AF & no chance at the lower version). US Bank matched my Cash+ line when I apped for the Club Carlson Business Card (7-10 day message BTW) at $11.5k. I was very pleased to say the least.

The Club Carlson card is really a very good card. The current point redemption system will not last long in it's current form IMO. You get 10 points on all spend because of the buy one get one free nights(special for card holders). So just like the original Cash+, the earlier you get this card the better.

Thanks for the feedback. Figured it is too good to be true...that is why I am surprised that not everybody is trying to get this card. Did they pull ARS for the Club Carlson for you. I noticed many denial letters mentioned that info from ARS was used for decision. Might give it a shot and invest (possibly waste) a HP end of May with Club Carlson and an online app. In the meantime I will request a copy or ARS and IDA and might place a freeze on them if unable to get a copy. Enjoy your Club Carlson while the redemption system is still unchanged..

Re: US Bank strategy ?

lg8302ch — Sun, 22 Dec 2013 20:29:40 GMT

@Anonymous wrote:
I've had great success with my general banking (have had my primary checking & savings acts there for several years) at the local branches. I applied online for the one cc I have through them, and was initially denied, but because my $120k in (deferred) student loans is a bit intimidating for banks to look at when considering credit, their only concern was my income. Once I added hubby to it, the card was approved.

It's only a securred, but hope this helps. I recommend the bank, and especially the local branches.

Thanks. But that is my main problem. US Bank wants applications at the branch for a specific reason for Cash+ ..it is not a card to be intended for nationwide customers. So I will see how it goes with a potential app for Club Carlson end of May and should that work I will stop by a branch in September or October when I am in CA. I have time now to think about it and also want to check my ARS and IDA reports in the meantime.

Re: US Bank strategy ?

lg8302ch — Sun, 22 Dec 2013 20:36:24 GMT

@Anonymous wrote:
US Bank informs me they are strong on banking relationships. I can say many of their products fit well with my needs. They do have a US Bank Relationship Scoring System that is used (not sure how). Whether you really need to have a relationship with US Bank to obtain their US Bank Cash+ Visa Signature Card is in question. Several posters on this site have found interesting ways to obtain their card. Before you join them (unless you have an itnerest) look at the ways people have obtained the Cash+ Card.

I could imagine that banking with US Bank would certainly help but does not really make sense if there is not even an ATM around. I am spoilt having a bank where I do not have to search for an ATM or branch as there is one at every corner almost...the closest US Bank ATM is probably 200 miles and the closest branch is half way across the country ...thanks.