Path to US Bank Cash+ approval & app timing Advice

[ChazzieT]

So I've read a lot on the forums about US Bank being a relationship bank and being more likely to approve an app if you already have some kind of account with them. I've been denied twice for the Cash+, so I tried to sign up for a checking account to start that relationship, but was told that, because they don't have any branches in Texas (where I live) that I couldn't apply for a checking account.

I would assume that what I'm about to describe will work for anyone outside their service area, but as with most things, YMMV.

US BankCorp (the investment arm of US Bank) offers a "Self Directed Brokerage Account" that is available nationwide. It offers a deal of 100 free trades per year to people with a US Bank Gold Checking account. I signed up for the brokerage account and then called US BankCorp customer service. I explained that when I tried to call US Bank or sign up online that I was told I couldn't get a checking account because of where I lived. They put me on hold, then added a US Bank rep from (I'm pretty sure he called it) the Financial Sales Department, to the call. She took my app for the Gold Checking/Savings package over the phone and told me I was approved. She even gave me my new account numbers before the call ended.

I did have to call back later to get an "Online Banking Specialist" to remove a restriction from my account that kept the checking/savings from showing up online (I could only see the brokerage account until then), but it would seem that I finally have begun my relationship with US Bank.

I would have app'd for the Cash+ as soon as she said "approved", but my last denial was only a little over a month ago and they sited "number of recently open trade lines", which would only be one month less recent. I'll let those age up a little and then, hopefully, third time will be the charm!

Hopefully this helps someone else who is having trouble getting started with them, like I was.

[M_Smart007]

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@ChazzieT wrote:

So I've read a lot on the forums about US Bank being a relationship bank and being more likely to approve an app if you already have some kind of account with them. I've been denied twice for the Cash+, so I tried to sign up for a checking account to start that relationship, but was told that, because they don't have any branches in Texas (where I live) that I couldn't apply for a checking account.

I would assume that what I'm about to describe will work for anyone outside their service area, but as with most things, YMMV.

US BankCorp (the investment arm of US Bank) offers a "Self Directed Brokerage Account" that is available nationwide. It offers a deal of 100 free trades per year to people with a US Bank Gold Checking account. I signed up for the brokerage account and then called US BankCorp customer service. I explained that when I tried to call US Bank or sign up online that I was told I couldn't get a checking account because of where I lived. They put me on hold, then added a US Bank rep from (I'm pretty sure he called it) the Financial Sales Department, to the call. She took my app for the Gold Checking/Savings package over the phone and told me I was approved. She even gave me my new account numbers before the call ended.

I did have to call back later to get an "Online Banking Specialist" to remove a restriction from my account that kept the checking/savings from showing up online (I could only see the brokerage account until then), but it would seem that I finally have begun my relationship with US Bank.

I would have app'd for the Cash+ as soon as she said "approved", but my last denial was only a little over a month ago and they sited "number of recently open trade lines", which would only be one month less recent. I'll let those age up a little and then, hopefully, third time will be the charm!

Hopefully this helps someone else who is having trouble getting started with them, like I was.

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Congrats on your new relationship with US Bank. They are supposed to open a few branches in Texas from what I have read.

They are Inquiry and New account sensitive. Your best shot is wait 6 months from any Inquiries/new accounts.

I have The Cash+ and use it for My Direct TV, Cell Phone Bill & Spotify Premium.

Wish you a good outcome!

edited for spelling.

[ChazzieT]

Thanks (for both the congrats and the advice. I waited for six months after the first denial and was thinking I'd have to wait a year after the second (I was bad and got a few more cards to bring me out of my denial funk), but now that I have three accounts with them, I'll work on showing activity in them and (just like you advised) when I'm six months old on my newest card, I'll take another swing!

When I finally get accepted, I'll be going with Utilities and Cell Phone!

[Meltdownblitz]

I've had them for maybe 5 years and they have given me a 20k limit after 1 cl increase after initial 12k limit. I'm happy with that. Unfortunately I only use them for Utilities right now as I don't shop at the other 5% categories that they offer. For cellphone I'd rather have free cell insurance then 5% back. Overall been a good card as I've seen them add new categories recently. Gl on next app!

[ChazzieT]

If you don't mind my asking, what card gives you 5% or better on your tv/internet provider (that would be my third choice)?

[Meltdownblitz]

I believe that one is one of the highest for cable and internet at 5%. I use mine for internet. I also believe cash plus has 5% on utilities such as electric and gas. I just haven't used mine for that as I currently live with a friend of mine but I'd have to verify that. The Chase ink business cash is also 5% cable and internet but obviously a business card.

EDIT: Verified yes, Cash plus does give 5% on "home utilities" which is very good. Definitely a solid card.

[AllZero]

Thanks for the tip!

[ChazzieT]

You're absolutely welcome. I've learned a lot reading these forums. I'm just glad to finally have something to contribute!

[randomguy1]

That is a pretty good contribution and clever way in. Glad you are in with them. With relationship banks, I would additonally actually use the accounts. Rather than parking a small amount money in my US Bank account, I am putting money in there and using their bill pay system to PIF my credit card bills every month. 

[ChazzieT]

I had planned on showing activity, but paying my other cards each month is an excellent idea that hadn't occurred to me. I'll definitely be borrowing that idea! Thanks!