US Bank Altitude Visa

[Winesnoblv]

I spoke to a banker at my local branch regarding both a premier line of credit and the Altitude Visa about a month ago, but thought I should wait 6 months to apply.  I went on a spree in April and May by acquiring 3 new cards - Citibank AAdvantage, Barclay Aviator and Chase Freedom Unlimited.  Citiband and Barclay were instant approval, Chase needed additional information for identification.  

I currently have the AMEX Platinum, but wanted another premium travel card.  Since I will be traveling later this year, I was thinkg of applying, but not sure.

Currently, I have 7 inquiries on TU with 1 within the last 6 months, 6 on EX with 2 in the last 6 months.  Being in Nevada, not sure which one they will pull.  FICO 8 scores are EX 750, TU 752, EQ 756.  Utilization around 11%.  I have one missed payment from Jan 2012 with no other  baddies.  

Although US Bank is not be primary bank, due to its locations, I have a personal checking account and overdraft line of credit with them for 18 years in addition to my business checking for 8 years.

Should I go for it now or wait until December?

Thanks.

[heyryan]

They've pulled TU for me for everything so far in CA - Altitude, LOC, Radisson Rewards. Your scores should be more than sufficient, and they focus heavily on "relationship scores", so your history with them should be a bonus. Personally, I would probably wait until those other new accounts had aged about 6 months just to be on the safe side. I had 1 new account about 5 months before I got mine, and 2 others about 9-10 months before, and there was no issue. I know US Bank can be a little squirrelly sometimes, and people with good scores and strong profiles end up with unfortunately small CLs. (Although, they do seem to be much more generous with the Altitude than other cards)

Good luck with whatever you decide!

[Winesnoblv]

heyryan,

Thanks for the input.  Great point in letting the three new cards age about 6 months.  Assuming I am approved, I would hope to have a decent CL and since I am going for both the Altitude and the LOC, it makes sense to wait hoping to get approved with a higher CL.  

[xaximus]

I would wait until your inquires age a bit. US Bank seems to be a bit inquiry sensitive.

[Caught750]

From alot of threads it seems that they are Inq sensitive if you DON'T have a pre established relationship with them. Even if it's only 2 weeks long lol. It seems like once you're in you're in and good to go.

[Shadowfactor]

USB has never been inquiry sensitive or even new account sensitive in my experience. I applied for the Altitude with 9 inquires on TU and 10-11 new accounts within the past year.

I also bank with them but not nearly as long as you have. They are a relationship bank.

I think you will see an approval.

They have always pulled TU FICO 4 which is the mortgage score for all credit apps but I recently saw a thread about them possibly using FICO 9 now.

I couldn’t predict the CL though. I’ve seen them as high as the 30’s and as low as 5K.

My fiancé was approved for the AR at 5K with a 791 FICO 8. She has a lot of student loan debt though. You can always try to recon the SL with USB if you are unhappy with it.

[Anonymous]

I waited about 7 months since my newest account before I applied. I checked to see what cards I was prequalified. It was the first time Altitude showed. I have my mortgage with USB. At any rate I applied. They pulled TU. Had about 12 inquiries. The latest was 7 months prior. I was approved for $24k. 

USB purchased from my previous lender. I only had been with them a year when I applied. 

Best to you whether you choose now or later. 

[Meanmchine]

"....Utilization around 11%"

Pay your util down to 9%.  You should see a 5 - 10 point spike in your scores.  That will help out alot