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US Bank Credit Card after Bankruptcy Ch 7 - Data Point

Frequent Contributor

Re: US Bank Credit Card after Bankruptcy Ch 7 - Data Point

@butterpecan wrote


@Lurker22 Would you know any other DP's regarding the secured version with US Bank? I don't have BK but I do have 4 small baddies all 5 1/2 years old. I tried for Discover secured and was denied so I am just trying to gather knowledge about the banks commonly mentioned here for later because ultimately I was approved for a secured through NFCU but obviously will need to span out further later. 

when I obtained both of my USB secured cards, they did pull your CR but they didn't care what was on there, only that the security deposit was successful - that was October 2021 for the first card and January 2022 for the second

Message 21 of 22
Frequent Contributor

Re: US Bank Credit Card after Bankruptcy Ch 7 - Data Point

@PayAndProsper wrote:
@rosco75   escribió:

I called the bank and was told that thier current policy is 4 years post filing for any of thier card products, which includes their secured cards. The rep did tell me that there were discussions in place to update that policy but for right now, that is what it is.  


I assume that this policy has changed through the years as data points on this forum point to a 5 year policy initially which was then amended to around 2 years. It seems that they often review and revise the policy so it would be a benefit to call before applying and determine what the current policy is at the time you want to apply. 


4 years, even post filing date just seems like a dreadful amount of time to have cash held up. Its a shame, as its probably one the THE BEST secured card options on the market these days. 5% in two selectable categories and 2% other purchases is nothing to sneeze at!

It's nice, but not that nice. It's two selectable 5% categories, one selectable 2% category, and 1% on all other eligible purchases.


Nothing is guaranteed, but if you have a profile that is not suitable for a Discover secured card (unless you have burned them in the past, or some other very particular differentiating circumstance), you are unlikely to qualify for US Bank, all else being equal between the CRs (likely different CRAs pulled), as US Bank is notoriously more strict and sensitive to new accounts and inquiries. Don't take my word for it though. Take a look around the MF forums. There are tons of DPs out there. 

exactly right, both Cash+ and Altitude Go are "nitch" cards for me - Cash + I use for utilities and cable, Go I use for dining out


For me - I burned both USB and Disco in a 13, Disco won't touch me with a 10 foot pole - USB had no issues granting a secured card


And agreed, ton's of DP's out there - don't just take mine - banks change their requirements all the time

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