Cash+ 7-10 day message

[thelethargicage]

So I broke down and apped for the Cash+ yesterday and got the 7-10 message. I've been receiving solid prequals in the mail (single APR, not a range) as well as online. I used their prequal tool, got a "pre-approved" offer for Cash+ with 14.99% APR and $100 bonus after $500 spend. I called the underwriting department, but all they said was "App is being processed" and didn't offer to speed up the process.

My BBR hasn't reported yet, so I hope that helps.

How long do they usually take to give you an answer?

[uswala]

They do take 7-10 days to make decision. At least they did take that much time when I applied.

[kdm31091]

It takes a few business days up to 10 but often less. They dont work like other lenders where you can call underwriting and speed it up. They wont do anything except tell you that it is processing. All you can do is wait.

[Open123]

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@thelethargicage wrote:

How long do they usually take to give you an answer?

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For me, it's usually about 3 - 4 business days.  As others have mentioned, you can call to expedite the process, but probably not worth the effort or time.

[kdm31091]

Actually you cannot call and expedite...they dont do "on the spot" underwriting such as you can sometimes get with chase, barclay etc. You just have to wait it out

[ojefferyo]

Took about 3 day before I got an answer. I got the mailer in the mail with a solid APR also and applied. When I called to check she cautioned me about my inquires and not to get anymore lol. It was approved however.

[celluloid17]

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@thelethargicage wrote:

So I broke down and apped for the Cash+ yesterday and got the 7-10 message. I've been receiving solid prequals in the mail (single APR, not a range) as well as online. I used their prequal tool, got a "pre-approved" offer for Cash+ with 14.99% APR and $100 bonus after $500 spend. I called the underwriting department, but all they said was "App is being processed" and didn't offer to speed up the process.

My BBR hasn't reported yet, so I hope that helps.

How long do they usually take to give you an answer?

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I hope you get it, especially with that sign-up bonus!  I think you will since you've been getting offers.  

It helps if you have a banking or past credit history with US Bank.  I went into a branch to apply for mine (Feb. 2014) and I was approved instantly.  I attribute that to the fact that my oldest open credit card is an Elan Visa, which is an arm of US Bank.  I've found that once you're in with them, they are really loyal.  

I've since opened up a Gold Checking account with US Bank since it's free when you have one of their credit products.  The past few summers they've offered really nice checking account sign-up bonuses with easy to meet criteria (like paying three bills from it or setting up a direct deposit) and since there are no monthly fees, you can pretty much leave any amount in there.  It's also easy to transfer your accumulated Cash + rewards to your checking account and then pay your credit balance with it.  It's faster than doing the statement credit thing.  So when you get approved for the Cash +, keep your eyes peeled for any offers to open a checking account with a sign-up bonus (like 'Power Up Your Summer' etc.).  It would be handy to have in addition to your Cash +.

[FinStar]

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@Open123 wrote:

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@thelethargicage wrote:

How long do they usually take to give you an answer?

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For me, it's usually about 3 - 4 business days.  As others have mentioned, you can call to expedite the process, but probably not worth the effort or time.

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If it's an online application, it may not get the expedited processing (i.e. calling everyday).  However, there are instant approvals contrary to what someone posted above since they do happen (not as frequent but they do) and maybe OP can see if visiting a branch may assist with expediting the application.  Typically, for this to happen, a relationship with US Bank would help, but if it's a matter of 3-5 business days, not really worth it in the end unless the card is needed right away.

ETA: mine was expedited via the branch when this product was restricted geographically a couple years ago - took 2 business days.  Other applications I've just simply let them run their course unless I'm close to a branch.

[brewcrew87]

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@FinStar wrote:

If it's an online application, it may not get the expedited processing (i.e. calling everyday).  However, there are instant approvals contrary to what someone posted above since they do happen (not as frequent but they do) and maybe OP can see if visiting a branch may assist with expediting the application.  Typically, for this to happen, a relationship with US Bank would help, but if it's a matter of 3-5 business days, not really worth it in the end unless the card is needed right away.

ETA: mine was expedited via the branch when this product was restricted geographically a couple years ago - took 2 business days.  Other applications I've just simply let them run their course unless I'm close to a branch.

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Yeah I can vouch that instant online approvals do happen...  I applied last Friday and was instantly approved (no preapprovals via mail or on their website and not even a US Bank customer). 

Kind of bummed that I missed out on that $100 bonus offer.  I am guessing US Bank isn't one to retroactively extend offers like that?  Still waiting on the card to get mailed to me, but I might make a phone call when it comes and try anyway.

[FinStar]

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@uecker4life wrote:

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@FinStar wrote:

If it's an online application, it may not get the expedited processing (i.e. calling everyday).  However, there are instant approvals contrary to what someone posted above since they do happen (not as frequent but they do) and maybe OP can see if visiting a branch may assist with expediting the application.  Typically, for this to happen, a relationship with US Bank would help, but if it's a matter of 3-5 business days, not really worth it in the end unless the card is needed right away.

ETA: mine was expedited via the branch when this product was restricted geographically a couple years ago - took 2 business days.  Other applications I've just simply let them run their course unless I'm close to a branch.

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Yeah I can vouch that instant online approvals do happen...  I applied last Friday and was instantly approved (no preapprovals via mail or on their website and not even a US Bank customer). 

Kind of bummed that I missed out on that $100 bonus offer.  I am guessing US Bank isn't one to retroactively extend offers like that?  Still waiting on the card to get mailed to me, but I might make a phone call when it comes and try anyway.

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They can.  As long as you have the screenshot of the offer vs when you got approved (if it's within a reasonable timeframe), you can fax it to them so they can review it and honor it.  When you initially contact them abot this, just speak to a supervisor so they can note the account accordingly.  Check your PM.