Happy to see that someone overcame what seems to be a low success rate in getting a PC from QS1 to QS! All the reading up I've done seems to indicate that's pretty rare and quite it's typically a Venture One PC if anything is even offered at all (with my minimal travel, none of the Venture cards would be really useful).
I have been searching threads regarding US Bank as I am interested in the Cash+ for its 5% categories. I have a BK7 that is 2 years post discharge so ive been hesitant to pull the trigger.
I came across this thread and I typically do not believe in thread necromancy but WOW! never in my entire time here at MyFICO have I seen anyone with a BK and less than 5 years post DC with UNDER 700 scores achieve those limits or get these approvals. You are a magician, and I dont know how you did it with US Bank as nothing i read indicates they are friendly to having a BK less than 5 years old. Crazy, but well done!
@Lurker22 wrote:
@rosco75 wrote:I have been searching threads regarding US Bank as I am interested in the Cash+ for its 5% categories. I have a BK7 that is 2 years post discharge so ive been hesitant to pull the trigger.
I came across this thread and I typically do not believe in thread necromancy but WOW! never in my entire time here at MyFICO have I seen anyone with a BK and less than 5 years post DC with UNDER 700 scores achieve those limits or get these approvals. You are a magician, and I dont know how you did it with US Bank as nothing i read indicates they are friendly to having a BK less than 5 years old. Crazy, but well done!
FYI USB offers a secured version of C+ that does graduate
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!
@Lurker22 wrote:
@rosco75 wrote:
@Lurker22 wrote:
@rosco75 wrote:I have been searching threads regarding US Bank as I am interested in the Cash+ for its 5% categories. I have a BK7 that is 2 years post discharge so ive been hesitant to pull the trigger.
I came across this thread and I typically do not believe in thread necromancy but WOW! never in my entire time here at MyFICO have I seen anyone with a BK and less than 5 years post DC with UNDER 700 scores achieve those limits or get these approvals. You are a magician, and I dont know how you did it with US Bank as nothing i read indicates they are friendly to having a BK less than 5 years old. Crazy, but well done!
FYI USB offers a secured version of C+ that does graduate
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!
I'm sitting here trying to think of any recent DP's on the secured cards but can't recall any discussion on their approval recently - I obtained mine a bit ago but was during an open/active 13 - and I believe one of them (I have both Secured Alt Go and Cash+) was opened before the 4 year threshold - I wonder if the agent you spoke with was just making an assumption (happens all the time with call centers but honestly not sure)
It is possible, although unlikely. I should note that I did state that the rep was very pointedly stating the CURRENT part of her answer. You most likey had gotten your result while they had a different policy altogether, and im almost positive that they have changed their policy a few times in the past few years. I also suspect that this policy will change again.
The question that anyone has to ask themselves (who has a BK on thier profile) is this - is it worth the HP to find out? I would absolutely LOVE if someone who was between 2-4 years post filing / discharge could check for us =)
@Lurker22 wrote:
@rosco75 wrote:I have been searching threads regarding US Bank as I am interested in the Cash+ for its 5% categories. I have a BK7 that is 2 years post discharge so ive been hesitant to pull the trigger.
I came across this thread and I typically do not believe in thread necromancy but WOW! never in my entire time here at MyFICO have I seen anyone with a BK and less than 5 years post DC with UNDER 700 scores achieve those limits or get these approvals. You are a magician, and I dont know how you did it with US Bank as nothing i read indicates they are friendly to having a BK less than 5 years old. Crazy, but well done!
FYI USB offers a secured version of C+ that does graduate
@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.
@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.
@butterpecan escribió:
@Lurker22 wrote:
@rosco75 wrote:I have been searching threads regarding US Bank as I am interested in the Cash+ for its 5% categories. I have a BK7 that is 2 years post discharge so ive been hesitant to pull the trigger.
I came across this thread and I typically do not believe in thread necromancy but WOW! never in my entire time here at MyFICO have I seen anyone with a BK and less than 5 years post DC with UNDER 700 scores achieve those limits or get these approvals. You are a magician, and I dont know how you did it with US Bank as nothing i read indicates they are friendly to having a BK less than 5 years old. Crazy, but well done!
FYI USB offers a secured version of C+ that does graduate
@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.
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.
@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.
@butterpecan escribió:
@Lurker22 wrote:
@rosco75 wrote:I have been searching threads regarding US Bank as I am interested in the Cash+ for its 5% categories. I have a BK7 that is 2 years post discharge so ive been hesitant to pull the trigger.
I came across this thread and I typically do not believe in thread necromancy but WOW! never in my entire time here at MyFICO have I seen anyone with a BK and less than 5 years post DC with UNDER 700 scores achieve those limits or get these approvals. You are a magician, and I dont know how you did it with US Bank as nothing i read indicates they are friendly to having a BK less than 5 years old. Crazy, but well done!
FYI USB offers a secured version of C+ that does graduate
@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.
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.
@PayAndProsper I didn't burn Discover and the denial letter was just a generic "we're sorry but no" because of my 2018 delinquencies still being a thorn in my side. Here is just a little insight on my file:
My baddies are 2 medical bills and 2 dept stores (Kohl's through Cap1 and Firestone through Credit First) all 4 baddies are from 2018 sitting at $3k combined total.
A total of just 1 hard pull inquiry across all 3 CRA's resulting in 1 new account, which is Cap1 secured knowing I have a baddie with them via the Kohl's card from 2018 they still gave me the $200 secured CC. I have not had or applied for any credit at all since 2016.
There is 1 closed satisfactory account on my report dating back to 2017. That's it.
Fast forward to after the Cap1 secured card I opened PayPal Line of Credit with a $1500 limit. I am still shocked I was approved. This account had not reported to my TL yet if that makes a difference to Discover I don't know but...
Then I tried the prequalify for Discover (denied)....so ultimately I moved along and got a secured CC with Navy Federal. I plan on trying again with Discover in 6 to 9 months but in the meantime I'm gathering data here. Thank you for adding to it, I was wondering about US Bank and a few others so I'm off to the posts to keep reading. 🤓