topic Re: US Bank Usage Preferences in Credit Cards

US Bank Usage Preferences

Anonymous — Mon, 27 Jan 2014 17:39:24 GMT

I just got approved for my first US Bank credit card (Visa Platinum, 5K) after getting denied of the Cash+ last year. I would like to one day convert this Visa Platinum into a Cash+. I know they are inquiry sensitive so I am going to be in the garden for awhile. However, I know that Barclay likes a lot of usage, while I (on the other hand) experienced auto CLI's with citi and discover after I SD'ed their cards. My FICO is in the low 700's, income is well over 30K, AAoA is about 7 years, 10-20% util, no baddies, 100% on time payments, current highest card has 14K limit and I have two 10K cards, but no prior banking relationship whatsoever so this card is my only way to build a relationship with them and I don't want to mess it up!

Can anyone chime in on their US Bank card usage activity prior to a CLI and/or PC? Thank you!

Re: US Bank Usage Preferences

Burned2manybridgesB4 — Mon, 27 Jan 2014 17:07:41 GMT

You can PC at the six month mark. SP CLIs under 1500 used to be the norm, but they're pushing HPs now, if you're not a banking customer.

Re: US Bank Usage Preferences

Anonymous — Mon, 27 Jan 2014 17:11:05 GMT

so the PC can happen whether or not I use the card? should I have a zero balance when I pc or should i have a small (or even large) balance?

Re: US Bank Usage Preferences

Burned2manybridgesB4 — Mon, 27 Jan 2014 17:14:16 GMT

Useage, and low balance always helps...with any lender.

Re: US Bank Usage Preferences

Anonymous — Mon, 27 Jan 2014 17:45:04 GMT

yay! just found out I was approved for 5K!

just called underwriting to find out my limit and to see if I would qualify for the cash+ (if my limit was high enough). Anyway, I asked him about whether he could if I might otherwise also qualify for the cash+ but he said they had only reviewed my file for the card I applied for and the cash plus has higher requirements and a higher apr. booo... i decided not to push my luck too much seeing as I just got approved.

Re: US Bank Usage Preferences

Themanwhocan — Mon, 27 Jan 2014 20:33:14 GMT

@Anonymous wrote:
yay! just found out I was approved for 5K!

just called underwriting to find out my limit and to see if I would qualify for the cash+ (if my limit was high enough). Anyway, I asked him about whether he could if I might otherwise also qualify for the cash+ but he said they had only reviewed my file for the card I applied for and the cash plus has higher requirements and a higher apr. booo... i decided not to push my luck too much seeing as I just got approved.

Is your income 30K or more? If so, after 4 months call the number on the back of the card and ask if your card qualifies to switch to Cash+. If not, wait a month and repeat.

Re: US Bank Usage Preferences

Themanwhocan — Mon, 27 Jan 2014 20:34:36 GMT

By the way, your reports will show that you opened that account on 1/1/2014. that is US bank/Elan version of back dating, it always starts on the 1st of the month that the account was opened.

Re: US Bank Usage Preferences

Anonymous — Mon, 27 Jan 2014 20:37:23 GMT

Awesome! Thanks! i will call after 4 months since my income is greater than 30K.

That's great about the backdating too!

Re: US Bank Usage Preferences

Brax — Tue, 28 Jan 2014 02:50:01 GMT

6 months is the usual minimum before PC to another card like Cash+. I suggest requesting a CLI at the 6 month mark just prior to requesting a PC.

I don't think obsession over usage % matters much with US Bank, just show responsible usage.

Re: US Bank Usage Preferences

alvon123 — Tue, 28 Jan 2014 09:58:49 GMT

@Anonymous wrote:
yay! just found out I was approved for 5K!

just called underwriting to find out my limit and to see if I would qualify for the cash+ (if my limit was high enough). Anyway, I asked him about whether he could if I might otherwise also qualify for the cash+ but he said they had only reviewed my file for the card I applied for and the cash plus has higher requirements and a higher apr. booo... i decided not to push my luck too much seeing as I just got approved.

congrats on the approval