Path to US Bank Cash+ approval & app timing Advice

[Remedios]

Well, if Cash+ is the goal, you messed up.
While they may look at accounts opened in the past year, they also look at how many accounts were opened in the past year.
3 new accounts are not quite the same as 10 new accounts.
Also, a lot of cards you applied for have intro 0% apr, and it would have made so much more sense to spread those apps at times when you needed new cards.

What's done is done, but I suggest you garden for a long time. Not because of Cash+, but because of your new found enthusiasm for applications.
More credit is not a solution to most problems. Right now, you're not improving your profile.

Going back to your original question, app free for a year and you might have a chance.
While they are somewhat "relationship" oriented bank, that's a two way street.
When we desperately chase new credit, it's us who give the impression we're not "relating"

Good luck

[ChazzieT]

Thanks Remedios! I absolutely know I screwed up, multiple times!

A few thoughts/questions:

I don't know what you mean by "While they may look at accounts opened in the past year, they also look at how many accounts were opened in the past year."

I'm not sure where you got 3 and 10 from , but your point is still completely valid with 4 and 8:

-)I was 5/12 by the time I knew the Cash+ was even out there and apped the first time (should have done more research!)

-)I was 4/12 - 0/6, the second time I apped (shouldn't have trusted the CSR who said 6 months!)

-)I'm currently showing 5/12 on all three reports

-)I'll be 8/12 when the remaining three new accounts report

The 0% apr is not something I care about. I don't carry a balance because I need to. After all the years of being strictly cash, if I can't afford it, I don't buy it. I will however take advantage of a 0% apr when it's there. I make my payments to a high yield savings account and then use that money to pay the cards off when I need to get my util down or before the 0% apr ends (whichever comes first) and then bank the interest it earned.

I use Credit Cards for the Cash Back and SUB's. 

So 12 months? I can absolutely do that, if I need to. Thanks again for the advice (and in advance for the clarification)!

[Remedios]

I used those numbers as an example, but in your case, that would be 8 accounts in a year.
Their underwriting criteria has gotten a lot stricter in the past year.
I had two new accounts, got denied, recon worked, but accounts older than a year were mentioned in relatively disapproving tone.
Because a lot of apps go through manual review, there is a lot more scrutiny involved, plus their proclivity for pulling secondary reports such as Sage Stream.

[ChazzieT]

SAGESTREAM!!!

Maybe you can help me with that question (for whenever I do app again)!

I've read a lot of dissenting opinions about freezing it before a US Bank CC App and can't really figure out what the current thinking is. I had it frozen for both Cash+ apps, but got an email during the Gold checkin/savings app asking me to unfreeze it (along with lifelock and the 3 majors).

So to get to Mega Contributor, I'm sure you've answered more posts than I've been able to read. What is the current thinking on freezing Sage Stream?

[Remedios]

Depends on what's on it.
Get a copy and if nothing negative is present, income estimation is accurate, dont freeze it
Secondary reports are really more of a fact checking than anything else.
Not having it frozen worked for me. They were able to confirm employment throug it, income estimate was correct.
I was little ticked off that report had professional licences number, but such are times we live in.

My personal opinion is that if nothing negative is present, freezing it may complicate things unnecessarily.
Best thing to do is order a copy and see what's in it.

[Anonymous]

---

@ChazzieT wrote:

---

@Anonymous wrote:

Wait at least 6 months between your newest account and another US Bank application would be my recommendation but beware that people DO get denied, even with an existing relationship, for new accounts in the last 12 months. 

---

Thanks so much! You're not the only one to recomend 6 months (or more)!

I'm kind of leaning toward accepting the first pre-qual offer I get AFTER six months.

Interesting DP (albeit unconfirmed as it came from a US Bank CSR): I was told to expect pre-qual offers at the 4 month mark from the Gold checking being approved.

---

They're quite picky with who they will give cards to. Take anything the rep told you with a tablespoon of salt. 

[Anonymous]

I got approved for the brokerage account, then denied for the checking account. I’ll be calling in the morning to see what’s the hold up. Maybe it was their site, when I was trying to set up the online sign on for the brokerage account it kept saying there were technical issues

[Anonymous]

Also no notifications of a hp

[ChazzieT]

Did you remember to unfreeze:

Sage Stream, LLC

Life Lock

Equifax

TransUnion

Experian

Also, when you call tomorrow, be sure to go through US BankCorp customer service to get to US Bank customer service. That was the trick that finally got me past the geo fence.

[Anonymous]

Just got my brokerage account. Had issues with the checking too so will try calling. Just wondering, does having the brokerage account allow for the waiver on the monthly fee for the gold checking?