Help with situation with US BANK

Anonymous · ‎05-03-2016

So I went into a US Bank branch to open a checking and savings account. I told them I didn't want a credit card (didn't think I would get approved) so we continued on. They said I prequalified for a CASH+ credit card and so I said that's fine. Told me that's what I have and would get. Turns out I got the Cash Rewards which I still don't know how as my highest fico is 611 and with a 1,000 sl. My question is since I was told cash+ is what I would get which from what I read means a minimum of $5000 sl, do they have to honor that? Or is there any evidence that I can use to help plead my case with underwriting? I appreciate any feedback.

Anonymous · ‎05-03-2016

I'm pretty sure they won't honor what you were told. The Cash+ is a Visa Signature and like you said has a min $5k SL. It even says on their website that if you're not approved for a Cash+ you will be issued a Cash Rewards. Pre-qualified doesn't necessarily mean pre-approved.

Creditplz · ‎05-03-2016

Pre-Qual offers with US Bank don't hold much much weight from my experiences, but they consider you for the Cash Rewards if you don't qualify for Cash+.

Anonymous · ‎05-04-2016

@Anonymous wrote:
I'm pretty sure they won't honor what you were told. The Cash+ is a Visa Signature and like you said has a min $5k SL. It even says on their website that if you're not approved for a Cash+ you will be issued a Cash Rewards. Pre-qualified doesn't necessarily mean pre-approved.

+1 I agree. On the plus side, you got approved for a US Bank card - congrats!! US Bank is a tough lender to get in with, and with your scores I would be happy. Heck, the only thing they used to pre-qualify me for was a pre-paid debit card - now I can't even get that offer

Creditplz · ‎05-04-2016

Same here!! Till one day they pre qualified me for a Cash+ and Flexperks + Amex..... I tried and was denied

!

Anonymous · ‎05-04-2016

Thanks for the replies I really appreciate it. Yeah I was super surprised when they said that because I didn't think there was a chance at all but figured it was worth a shot to see if I could get it changed on account of their mistake.

pa850 · ‎05-04-2016

Congratulations! Like others have said US Bank is a tough one. Enjoy your card!

creditguy · ‎05-04-2016

They do not have to and will not honor a prequalified offer because a prequal really means nothing. To be honest you were lucky to get in with US Bank with a 611 score. Just stick to what you got, use it responsibly and US Bank will reward you later with better cards. Congrats!

dragontears · ‎05-04-2016

@Anonymous wrote:
So I went into a US Bank branch to open a checking and savings account. I told them I didn't want a credit card (didn't think I would get approved) so we continued on. They said I prequalified for a CASH+ credit card and so I said that's fine. Told me that's what I have and would get. Turns out I got the Cash Rewards which I still don't know how as my highest fico is 611 and with a 1,000 sl. My question is since I was told cash+ is what I would get which from what I read means a minimum of $5000 sl, do they have to honor that? Or is there any evidence that I can use to help plead my case with underwriting? I appreciate any feedback.

As other's said not much you can do. On the bright side US Bank cards can grow easily even with very low usage and once you get to 5k+ you can PC it into the CASH+

I got my first US Bank card 2 years ago SL $3k after 9 months auto increase to 4.5K, 6 months after that asked for 1K increase (no HP) then PC to a Cash+. During that time the only thing I used it for was to pay my credit monitoring service so usage was $25/month

Anonymous · ‎05-04-2016

UPDATE: I've decided to try and make a call to them just to see. Most likely nothing will happen but maybe I can get a credit limit increase who knows. I figured it was worth a shot I've had a lot of fraudulent things on my credit years ago that are slowly getting removed but everything I've had on my credit there has been nothing ever late and utilization at 12% so here goes nothing...