DP Denied for US Bank Altitude Reserve Card. Called for recon but they didn't want to resubmit

[CatGuy35]

Cards:

• Apple Card $6,500 limit, 11/2021
• Amex Gold No preset limit, 02/2022
• Chase Sapphire Preferred $13,000 limit, 08/2022
• Amex Platinum No preset limit, 09/2022

Other:

• They pulled Experian, which was 732.

• Annual income: $85,000

• Low utilization, around 8%, and have always paid on time, in full, and never carried a balance.

Applied a few days ago and called the recon line today to check on the application, which told me that I was denied. Spoke with someone from underwriting and they said that, while they thought that my credit looked great and there technically wasn't anything negative, I had gotten denied because my credit was history was too new. Which is true, I just got out of graduate school a year ago and gotten a job so that's when I started getting credit cards with my new income, before that I was just an AU on another card a few years prior. They suggested I should try again in 6 months. They also said that they did not want to resubmit my application because it would probably get denied again due to that.

Pretty bummed since I just found this card and realized almost all of my spend is on travel or with Apple pay. Also I have a big vacation coming up so I would have really liked to use the card for that. Any hope/advice for talking with another, more sympathetic recon agent and trying again? Or recommendations for similar cards lol?

[coldfusion]

I think the big issue is tied to USBank being extremely sensitive to inquiries and new accounts.  Not only is your credit history comparatively new all 4 of your accounts are less than 12 months old.  While the guidance is not absolute it's difficult to get an approval out of them if you've added more than 2 new cards in the last 12 months.   Their suggestion that you wait 6 months would be consistent with their general viewpoint as that would place you at the 2-cards-in-12-months threshold. 

You do have a CSP + Platinum so you're already in a good place with regard to having travel/perk cards, so I wouldn't necessarily be in a rush to add another one just because you have an upcoming trip planned.

[GZG]

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@CatGuy35 wrote:

Cards:

• Apple Card $6,500 limit, 11/2021
• Amex Gold No preset limit, 02/2022
• Chase Sapphire Preferred $13,000 limit, 08/2022
• Amex Platinum No preset limit, 09/2022

Other:

• They pulled Experian, which was 732.

• Annual income: $85,000

• Low utilization, around 8%, and have always paid on time, in full, and never carried a balance.

Applied a few days ago and called the recon line today to check on the application, which told me that I was denied. Spoke with someone from underwriting and they said that, while they thought that my credit looked great and there technically wasn't anything negative, I had gotten denied because my credit was history was too new. Which is true, I just got out of graduate school a year ago and gotten a job so that's when I started getting credit cards with my new income, before that I was just an AU on another card a few years prior. They suggested I should try again in 6 months. They also said that they did not want to resubmit my application because it would probably get denied again due to that.

Pretty bummed since I just found this card and realized almost all of my spend is on travel or with Apple pay. Also I have a big vacation coming up so I would have really liked to use the card for that. Any hope/advice for talking with another, more sympathetic recon agent and trying again? Or recommendations for similar cards lol?

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new file + new accounts is a recipe for a bad time w/US Bank based on the DPs here

I wouldn't touch US bank until I was 0/12 at the very least

[juanxincai]

Personally i don't find usbank hard to be approved for. I was approved for UAR earlier this year with 1/6, 3/12 hard pulls and new accounts. Approved for Cash+ last month with 1/6, 4/12 hard pulls and new accounts. 

Having a checking account with them will also improve the chance of approval.

[BronzeTrader]

I agree that US Bank cards are not very hard to get approved.  It is just that it is now known like Chase and AmEx.  It has its own underwriting guidelines.  I think US Bank is similar to BofA than Chase or AmEx.

The Altitute Reserve was only available to existing US Bank banking customers.  That requirement was relaxed recently.  That spreaks loudly of what they want or like.  Better to be its bank customer first.  Even though it is not required.

[Anonymalous]

I wouldn't be that bummed, @CatGuy35. If that Apple card is the start of your credit history, you're doing amazingly well. While Amex can be friendly to new files with high incomes, Chase typically wants to see a year of credit history, and you ended up with one of their premium travel cards after only 9 months. The U.S. Bank denial was very predictable given the age of your file and the number of new accounts you've opened in the past year, but your run up to it was very impressive.