Declined for US Bank Altitude Reserve [Data Points... - myFICO® Forums

ratchada · ‎07-20-2023

I applied for the Altitude Reserve on July 7; I got the "7-10 day" message, and when I called their automated line to check on the status of my application a couple days later, my suspicions were confirmed--denied. One week later the reasons for the denial (see below) came in the mail.

Note that I have an EX of 755, TU 811, EQ 799, and 0 missed payments, etc., since I first started playing the card game over 5 years ago. I have 20-some cards currently, and I'm 4/24 (last personal card opened in March 2022). Total CL around $98k (not counting business cards), income a little over $100k. I've had a US Bank checking acct for 4 years, which gets $1k-$2k in direct deposits every month and a lot of use (bill pay, etc.). I had heard that US Bank is picky about who they approve for this card, but **bleep**...here are there reasons for denial. They did NOT want me to have this card, haha:

1. "Time since oldest account has been open is too short" (that would be March, 2018--!!)

2. "Average time bankcard revovlving accounts has been open is too short" (my AAoA is 3 years, 21 months)

3. "Too many credit inquiries in last three months" (that would be exactly 1)

I was kind of applying for this on a lark...I mean, I usually stay away from cards with non-transferable points, but it sounded like a unique cash back card, and I like the 3x points on all mobile pay transactions, etc. I didn't call recon, not going to fight for this one. But just thought I'd share some DPs for others thinking of applying for the card.

EX (Fico 8): 755 TU (Vantage 3): 815 EQ (Vantage 3): 791
Amex Platinum; Amex Schwab Platinum; Chase Sapphire Reserve $19,800; Amex Bonvoy Brilliant $16,300; Chase World of Hyatt $12,200; Amex Hilton Aspire $11,500; Citi Double Cash $12,300; Citi Business AA Platinum Select $10,400; Citi AA MileUp $7,700; Citi Premier $2,500; Amex Everyday $5,000; Chase World of Hyatt Business $5,500; Chase Ink Unlimited $8,000; Chase Ink Cash $5,000; Chase Marriott Rewards Premier Plus Business $5,000; Chase IHG Premier $5,000; CapOne Quicksilver One $500
Oldest account: March 2018; Youngest account: July 2023
Store cards: Amazon (Synchrony) $1,000
Goals: EX 760 by middle of 2023
Wanted cards: Barclay Aviator Red; Chase Ink Preferred; Chase Ritz-Carlton

CreditCuriosity · ‎07-20-2023

Strange... If those reasons are correct I would call in and have that application RECON . Post is stickyed in this sub-forum on the top and hopefully you can have a UW overturn it. Best of luck!

30mm_goes_BRRRT · ‎07-20-2023

I agree with creditcuriosity. Based off the data points shared, I think you'd have an excellent chance of a recon should you choose to do so. However lenders are tightening up, so no guarantees. Best of luck!

UncleB · ‎07-20-2023

I also agree with @CreditCuriosity... I'd definitely give them a call.

While I don't have personal experience with U.S. Bank reconsideration, they are said to be pleasant to deal with and a positive recon definitely isn't unheard of around here. In any case, the worst that can happen is they say 'no'.

SouthJamaica · ‎07-21-2023

@ratchada wrote:
I applied for the Altitude Reserve on July 7; I got the "7-10 day" message, and when I called their automated line to check on the status of my application a couple days later, my suspicions were confirmed--denied. One week later the reasons for the denial (see below) came in the mail.

Note that I have an EX of 755, TU 811, EQ 799, and 0 missed payments, etc., since I first started playing the card game over 5 years ago. I have 20-some cards currently, and I'm 4/24 (last personal card opened in March 2022). Total CL around $98k (not counting business cards), income a little over $100k. I've had a US Bank checking acct for 4 years, which gets $1k-$2k in direct deposits every month and a lot of use (bill pay, etc.). I had heard that US Bank is picky about who they approve for this card, but **bleep**...here are there reasons for denial. They did NOT want me to have this card, haha:

1. "Time since oldest account has been open is too short" (that would be March, 2018--!!)
2. "Average time bankcard revovlving accounts has been open is too short" (my AAoA is 3 years, 21 months)
3. "Too many credit inquiries in last three months" (that would be exactly 1)

I was kind of applying for this on a lark...I mean, I usually stay away from cards with non-transferable points, but it sounded like a unique cash back card, and I like the 3x points on all mobile pay transactions, etc. I didn't call recon, not going to fight for this one. But just thought I'd share some DPs for others thinking of applying for the card.

I don't know what they were thinking. I would call recon if you really want the card. Their denial doesn't make sense.