US Bank Altitude Reserve Question

Aloha808 · ‎11-14-2019

In Hawaii, and trying to establish a relationship with USB for my wife so she can get the AR. I already have a USB biz card and so I'm eligible to open a checking/savings account, but she isn't, due to our geographic location. Does anyone know if it's possible for me to open a deposit account with USB, and then add my wife as a co-owner (remotely)? And, that being said, would that be a sufficient relationship for her to apply for the AR? We're not planning on going to a USB branch anytime soon.

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Anonymous · ‎11-14-2019

@Aloha808 wrote:
In Hawaii, and trying to establish a relationship with USB for my wife so she can get the AR. I already have a USB biz card and so I'm eligible to open a checking/savings account, but she isn't, due to our geographic location. Does anyone know if it's possible for me to open a deposit account with USB, and then add my wife as a co-owner (remotely)? And, that being said, would that be a sufficient relationship for her to apply for the AR? We're not planning on going to a USB branch anytime soon.

Yes, that is what I did with my daughter. I had the Cash+, so even though I was out of area, I was eligble to open a checking account. We opened a joint checking account on line so no-one had to be there (as there are no branches anywhere near here). She was able to successfully apply for the AR a week later (and we opened the account with about $100)

Aloha808 · ‎11-14-2019

@Anonymous wrote:
Yes, that is what I did with my daughter. I had the Cash+, so even though I was out of area, I was eligble to open a checking account. We opened a joint checking account on line so no-one had to be there (as there are no branches anywhere near here). She was able to successfully apply for the AR a week later (and we opened the account with about $100)

Awesome! Thank you, that's super helpful.

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Remedios · ‎11-14-2019

@Anonymous did you add your daughter to an existing checking account as joint owner or was this a new checking account to both of you?

Anonymous · ‎11-14-2019

@Remedios wrote:
@Anonymous did you add your daughter to an existing checking account as joint owner or was this a new checking account to both of you?

It was a new checking account for both of us.

Aloha808 · ‎11-16-2019

@Anonymous wrote:
@Remedios wrote:
@Anonymous did you add your daughter to an existing checking account as joint owner or was this a new checking account to both of you?
It was a new checking account for both of us.

Checked with USB customer service, and unfortunately only consumer credit cards make one eligible to open a checking/savings account with USB, not a business credit card. Does anyone know if you can open an account in-branch if you're a resident of an area without a USB footprint? I'll be visiting an area with USB branches in 2 weeks.

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Anonymous · ‎11-16-2019

@Aloha808 wrote:
@Anonymous wrote:
@Remedios wrote:
@Anonymous did you add your daughter to an existing checking account as joint owner or was this a new checking account to both of you?
It was a new checking account for both of us.
Checked with USB customer service, and unfortunately only consumer credit cards make one eligible to open a checking/savings account with USB, not a business credit card. Does anyone know if you can open an account in-branch if you're a resident of an area without a USB footprint? I'll be visiting an area with USB branches in 2 weeks.

Not sure. The alternative is to open a consumer credit card, only the Altitude requires a relationship. Not always a great solution as it's another inq and account, but a workaround.

Remedios · ‎11-16-2019

I do think that opening another card, even if one of their own may pose a problem when you try for AR.
I would imagine it's profile dependent, but if denied, you're looking at long wait.
I guess it all depends on risk tolerance.

I'd call them and ask if opening checking in person while traveling is an option. They seem to place decent amount of weight on depository relationship, primarily in hopes you explore other products on that end.

For me, opening cash+ so close to AR resulted in poopy SL, another HP to increase it. I should have waited a lot longer than two months.

Aloha808 · ‎11-16-2019

@Remedios wrote:
I do think that opening another card, even if one of their own may pose a problem when you try for AR.
I would imagine it's profile dependent, but if denied, you're looking at long wait.
I guess it all depends on risk tolerance.

I'd call them and ask if opening checking in person while traveling is an option. They seem to place decent amount of weight on depository relationship, primarily in hopes you explore other products on that end.

For me, opening cash+ so close to AR resulted in poopy SL, another HP to increase it. I should have waited a lot longer than two months.

Exactly, especially since USB seems to prefer AR applicants with 0/6 inquiries and new accounts.

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Anonymous · ‎11-16-2019

@Aloha808 wrote:
@Remedios wrote:
I do think that opening another card, even if one of their own may pose a problem when you try for AR.
I would imagine it's profile dependent, but if denied, you're looking at long wait.
I guess it all depends on risk tolerance.

I'd call them and ask if opening checking in person while traveling is an option. They seem to place decent amount of weight on depository relationship, primarily in hopes you explore other products on that end.

For me, opening cash+ so close to AR resulted in poopy SL, another HP to increase it. I should have waited a lot longer than two months.
Exactly, especially since USB seems to prefer AR applicants with 0/6 inquiries and new accounts.

My daughter had opened the PPMC just a little bit before the AR, so 0/6 is not completey necessary. And she was auto-approved (which is more than I was, for either the AR or the REI card!)