Should I apply? (U.S Bank Altitude Go)

[SmileNWave]

Credit Karma has been tempting me to apply for this card by saying I've got a "Very Good" chance of approval. And not gonna lie, having a card with a minimum of a $5000 credit line is appealing. The only thing that is scaring me is the fact that they don't have a pre-approval process (that I can find) and I don't wanna take an unnecesary hard inquiry.

Data Points:

717 EX FICO8, 2 open accs, 3 inq in the past 12 mo

714 EQ FICO8, 2 open accs, 1 inq in the past 12 mo

712 TU FICO8, 2 open accs, 2 inq in the past 12 mo

I don't want to waste another hard pull, so, how are my chances looking at getting this card?

[OmarGB9]

Scores are good, however US Bank likes 1 or less accounts in the last YEAR. Also, CK approval odds are meaningless. Just marketing. I would hold off if I were you.

[SmileNWave]

Thanks for the insight. I figure I'll wait a bit. My last account open was in July of last year so it's not too long of a wait.

[Ficoproblems247]

Although US Bank seems to be more generous with SLs on the Altitude Go than they are with Cash+, it is not a garanteed $5k SL. I have seen approvals for less than that. They tend to be a bit more lenient with their 1/12 rule for the Go as well, but I agree with Omar that you'd have better chances if you are willing to wait until you're 1/12. They will probably pull TU for approval, but sometimes pull from either of the other two bureaus. They will use your FICO score 9 for approval. I've been very happy with mine so far and would recommend it to anyone. I think it has great value for a no AF card. Good luck when you decide to pull the trigger! 

[SmileNWave]

I thought the Altitude Go was "either you get denied or you get a $5k SL since it's a Visa Signature" type of cards?

[Ficoproblems247]

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@SmileNWave wrote:

I thought the Altitude Go was "either you get denied or you get a $5k SL since it's a Visa Signature" type of cards?

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Visa Signature does not equate to a $5k SL for most cards any longer. It used to be the case for cards like Cap1 QS that was issued as a Visa sig for 5k+, and Visa platinum for SLs below that. Chase still plays by that rule for their Freedom Unlimited card. It's issued as a siggy or a platinum for +/- 5k SL. Most Visa Sigs now do not take into consideration the SL. Chase Amazon VS for example can be issued with an SL as low as I believe $500. Also, US Bank will approve their Cash+ as a Visa Signatute starting with a mere $500 as another example. 

[blossom_rebuilding]

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@Ficoproblems247 wrote:

Although US Bank seems to be more generous with SLs on the Altitude Go than they are with Cash+, it is not a garanteed $5k SL. I have seen approvals for less than that.

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I can vouch for this. I was approved for the Altitude Go around April 2021 with 730+ scores, and was approved for tiny $1,000 credit limit. I was really surprised at how low the approval was with my overall profile, let alone Visa Signature status. No re-con. I did get a soft pull CLI a few months ago, so there is some growth potential. It's a great card, so just weigh that alongside the desired credit limit.