U.S. Bank and Citi App Rules

[Anonymous]

Looking to get a US Bank Cash+ around October this year, and a Citi Double Cash as well. Question is what the rules would be for both companies? I got a card 5/18, two in 3/19, one in 4/19, and planning on a Chase Card in July this year. No other hard inquiries to worry about, one in the last 6 months, Amex was good to me in March for two cards!

[Anonymous]

USB could auto deny w/ 5-6 inq's but a manual review is easy to overcome the decision - 800-947-1444

Citi - meh... I've dealt with them a couple of times and they'll double pull for the application and CLI's are SP unless you request a HP to go above their offer

Obviously Chase would need to be a priority with 5/24 unless you have an existing account with them and pre-qual online or in branch

[Anonymous]

Thank you! So overturning is pretty easy? I would have 4 new accounts in one year by that time, 1 of those being about 5 months before. 2 hard inquiries in one year at that point as well. I have a Chase checking and savings account, I won’t be able to get another Chase card for a long time after this next one lol.

Think it will be okay to apply for both of those in the same month?

[Anonymous]

Thank you! So overturning is easy? Okay to get both in the same month?

By that time I will have 4 new accounts in one year, 1 will be 5 months before it.
2 hard inquiries in one year.
AAoA is 2 years now with 6 cards

[Anonymous]

YMMV with all of this but, yeah it took a phoen call to over turn the denial and wait 48 hours for someone to look at it before calling back for an update to find they only approved 1K/ea card and asked for them to review it again and got 10K/ea card on the 2nd review.

I think the computer auto denies based on something like 6inq/6mo or whatever they program it to do.  So, if you do Chase then USB would be suggested next and then whatever else after that.

[coreysw12]

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@Anonymous wrote:

Think it will be okay to apply for both of those in the same month?

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Maybe, but if it were me I'd wait 31+ days between applications.

You might get approved for both, but for the best terms (apr + credit limit) you might want to give your credit some time to settle down. Credit-seeking behavior, while not always a disqualifying factor, can affect your subsquent credit in a negative way.

[kdm31091]

I don't know if I'd say US Bank denials are "easy" to overturn, but it can be done. That said, I think you're better off just letting your credit age and relax to the point where you won't have to stress about potential denials.

Between the two, IME Citi is easier to get an approval from, but they still don't like to see a ton of recent inquiries/accounts. They have a "6/6" rule, no more than 6 inquiries in 6 months but it is not a solid rule. It's a soft rule they only seem to apply to some people. Regardless, you're better off being cautious.

[Anonymous]

stress about potential denials.

The whole idea behind applying is to do it when you don't need it.  If you take this approach there's no stress. 

[Anonymous]

Ya, I mean my scores dropped to the 740 range from 760+ on CK, and from 780 to 770 FICO. With a decent income I’m not too worried about it, just don’t want to make a mistake a hit a rule. Trying to preplan, late next year is the US Bank Altitude, with a maybe one more after these 2, I am in the garden until I get a mortgage sometime in about 5 years. But I know I will break. 2019 is just my spree year, a couple in 2020, then relax lol.

[Anonymous]

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@Anonymous wrote:
Ya, I mean my scores dropped to the 740 range from 760+ on CK, and from 780 to 770 FICO. With a decent income I’m not too worried about it, just don’t want to make a mistake a hit a rule. Trying to preplan, late next year is the US Bank Altitude, with a maybe one more after these 2, I am in the garden until I get a mortgage sometime in about 5 years. But I know I will break. 2019 is just my spree year, a couple in 2020, then relax lol.

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@Anonymous   If you want Chase, i would do them first as they are hardcore on the 5/24.   I'm never/24 so not sure about the work around if you already have a Chase acct.   

As for Citi, IME they are very much about the 6/6 rule, so i you can check the prequal beforehand.   I've seen approvals without a prequal, but you'd have to risk and HP for that. 

My Cash+ card while took 10 days from the app was approved.  No previous history other than a savings acct i had opened 10 days before apping, TU 665 and i'm sure at least 4/5 INQ's  SL 5.5K YMMV as all profiles are different, but didnt seem to have any issues for approval.  I highly recommend the Cash+ for the 5% categories and since they do like relationships, having a small amount in savings didnt hurt.