US Bank Tripple Cash Business

[jdsinm]

They pulled TU personal with a cali address

No idea if they pulled bus credit

No inquiries when pulled

Sole P using ss#

750-760 score

3 year plus old business

13% overall credit card usage/ 14 accounts 

10% overall credit usage with them (on a loc revolving card)

3 outstanding loans/revolving credit (no auto or home)

Income in solid 6 digit area

Credit age 9.5 years 

Credit Card and Line of Credit card with them approx 10 years.

Checking/Savings personal approx 10 years. I keep 3 and low 4 figure amounts with them, but accounts don’t see regular activity.

One business checking account 2 years with low 4-figure amount. Does not see regular activity.

Only established bus credit is amex from earlier this year, so three months approx.

Applied via the phone app on 3/21. Got the "you will received a detailed letter in 7-10 business days and we may ask for additional info/docs, enter email address if you want to be notified of our decision". I entered an email.

No futher doucmentation requests.

Received an email 3/25 congratulations blah blah.

Limit is 15K, the same as my high card with them.

No idea the interest rate, I’ll update this post when I have info.

[babygirl1256]

Congrats on your  US Bank Tripple Cash Business approval.

[GApeachy]

@jdsinm $15k is pretty dang good...or better than that, congrats!

[AceTen]

Congrats on your triple cash visa approval and nice SL! I have that card and I think it is a good one.

FYI: US Bank likes to take their time crediting SUBs and cash back offers, in my experience. 

[GApeachy]

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@AceTen wrote

FYI: US Bank likes to take their time crediting SUBs and cash back offers, in my experience. 

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Really?!? That sux.... Luckily for me they were pretty quick...lol ..I 🤔😜  Heck I didn't even know I received the credit yet until I was reading here about someone receiving their sub.  Immediately I logged in and saw it.....no text or anything, idk I guess I was waiting for something like 🎇 perhaps?!? Hahaha, i smashed 🦶 that 'redeem' button as if were a cockroach partying like it's 1999. Splat! 😂 .... history.

I have the short lived m/c cash (circa Summer 2021) that was replaced with this triple cash card. Both are great products.

[AceTen]

Ha! 

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@GApeachy wrote:

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@AceTen wrote

FYI: US Bank likes to take their time crediting SUBs and cash back offers, in my experience. 

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Really?!? That sux.... Luckily for me they were pretty quick...lol ..I 🤔😜  Heck I didn't even know I received the credit yet until I was reading here about someone receiving their sub.  Immediately I logged in and saw it.....no text or anything, idk I guess I was waiting for something like 🎇 perhaps?!? Hahaha, i smashed 🦶 that 'redeem' button as if were a cockroach partying like it's 1999. Splat! 😂 .... history.

I have the short lived m/c cash (circa Summer 2021) that was replaced with this triple cash card. Both are great products.

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Haha! That's funny.

Now that I think about it, they did credit the Triple Cash $500 business sub pretty quick. My personal US bank cards are the ones that take the full 2-3 statements to get any promotional cash back credits or upgrade bonuses. 

[practical1]

Thanks Folks, for all this insight.

I just received a Pre-Qualed offer in the mail from US Bank for this card -- and was equivocating, thinking that I'd rather use my HP budget to build-up my relationship with PenFed.

Here are my stats -- I'd like your collective opinions (if I may be so bold) as to the best course of action:

Been with US Bank for about 6 years.  Have the Premier Line, 25K, rarely used but always PIF.  Also AR card, 17.5K, always PIF, lightly used, 4 years old.  Altitude Go 6.5K and VISA 2.3K at 4.5K, never used.  Keep 20K in an IRA brokerage account, low 4 figures in checking, a few hudred in savings and 9 month old business account (for my LLC and linked to all my personal accounts), with balances ranging from 4K - 30K, typically around 10K.  The LLC grosses about 170K per year.  Also have an AMEX Bonvoy Business card for the LLC, with 30K line, 5K used.

FICO-8 took some hits, now floating around 770 on TU, with 4 HPs -- 2 will drop off at end of May.  EX & EQ in the 760 - 770 range.  Utilization shows about 5% (although should be <1%, when all payments report).   Total Credit reporting, depending on CRA, 120 - 150K

At PenFed, I have their Cash Rewards VISA with 12.5K CL since November 2021.  Some regular use, always PIF.  Recently put 10K cash on deposit -- had my paychecks at new job sent via Direct Deposit to them in March.  My goal is to ask for a bump to the maximum (25K, if not mistaken) on this card and also seek their Unsecured Credit Line, in the full  25K maximum.  My W-2 income is $220K  + what I can demonstrate as net from the LLC.

So, my questions: 

Do I take the additional HP and give US Bank a shot for Triple Cash -- or am I likely to have "maxed-out" their unsecured limits already?  If so, should I wait until the two HP's drop off TU -- but then, the pre-qual will have expired (it's only good until beginning of May).  Does this pre-qual actually mean anything or is it just a solicitation to apply?

Whether or not I try for the US Bank Card, when would it be best to try for PenFed?  Should I try to maximize my FICO scores or build up my balance on-deposit -- or, are my credentials likely adequate as they stand, all things considered, to accomplish my objectives with them?

Opinions greatly appreciated.

Thanks. 

[Thermionic_E]

I got 12k through the preapproval mailer at the beginning of the month. I also got amnesia. 

[LOC]

Congratulations 

[cashorcharge]

That's terrific!!  Congratulations on your USBank Approval!! 🎉🥂👏