How solid are US Bank Pre-Quals?

[Anonymous]

I app'd for Cash Rewards+ a couple of weeks back after prequal site gave fixed APR of 15.99% for it and one other card. Got 7-10 msg, then denial when checked with robolady. Called to recon the denial and got nowhere with a rather curt CSR. Then letter arrived a few days ago stating app couldn't be approved due to suspected fraud involving info found on Sagestream but there was no request to call for verification. Huh?

I started to just let it go since previous recon left me pounding dirt and figured the real reason I was denied was due to recent inquiries/new accounts and thin file. But my FICO is 780 and that has to count for something, so called today anyway and was asked a series of verification questions and was then told app would be manually reviewed. The process has been sort of a PITA, but I get the feeling I'll be approved with a small SL. Will know soon...

[Anonymous]

I had a solid prequal on their site for the cash plus when i looked a few months back. Never jumped on because i read almost all applications go to Manual review and i had quite a few Inquiries. Today it shows just offers,which means no go for me. Let us know if you app!

[Anonymous]

Thst is a bummer. Will they up the cl one your tax lien is paid off?
The card does have odd ball categories, but i can work them. I’m interested in the cc since i always fly international with korean air

[Anonymous]

Thanks, good to know that now

[Anonymous]

Sounds like a ruff ordeal so far. It’s good that you didn’t give up in frustration. I really hope it works out for you during the manual review. Do let us know
“couldn't be approved due to suspected fraud involving info found on Sagestream but there was no request to call for verification. Odd?” - that’s weird. alarms are starting to go off over here, what kind of company is this?

[Anonymous]

If you don’t mind me asking, how thin is your file. My file is thin as well

[Anonymous]

Seems like you made a good judgment on not applying. It sucks getting a hard pull with nothing in return. Happened to me earlier this year with amex. If i had researched futher prior, i would have known better. My cr was way too thin, & 1 young revolving account.

[Anonymous]

sagestream sucks.  i cant believe major lenders actually rely on that thing, considering its all third party datamining and usually about as accurate as a stormtrooper

im so tempted to pull that report (and a few other minor CRAs) just to get a few laughs out of it.  the fact you have to go the long route to even see it (no online report pull that I am aware of) not to mention its not exactly mainstream known about, is a hell of a landmine

sorta like CAIVRS only that one is a whole other animal run by uncle sam

[Anonymous]

I never heard of either of them untill now. I’m gonna have read up on them to learn more

[Anonymous]

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@Anonymous wrote:
I never heard of either of them untill now. I’m gonna have read up on them to learn more

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SageStream was more popular with banks when they were IDAINC (ID Analytics) before the name change.  I believe Discover even used them, Chase for sure used them and of course US Bank.  Bank of America was known to check them as well but I believe they stopped. Comenity used to in 2016, haven't seen any data points since.

I keep a personal list of ALL credit reporting agencies along with the date I last requested my free annual report from each.  I get ALL my report requests the same week every year so I get my reports back in a week or two and check for errors.

Some of these companies are twisted when it comes to disputing non-factual data, though.  

SageStream was sued this year in court but the case was dismissed with prejudice and I never pulled the PACER records to read up on it.  Been meaning to do that.  They were also sued in 2015 and that case was dismissed as well.  

FWIW, the scammy company Life-Lock that spent millions on ads touting their useless service may have been a parent company of the subsidiary IDAINC/SageStream according to other lawsuits.   Think about that for a moment: a consumer-focused company promising to secure private consumer data also owns subsidiary companies whose sole purpose is to data mine and sell consumer data.  I can't believe they're still around.