US Bank CLI Denied....

[NRB525]

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@One7 wrote:

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@FinStar wrote:

There was another thread that highlighted the most recent CC growth.  I sure hope no lender takes AA because it will not be pretty.

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@One7 wrote:

Just did the totals... yikes... added 23 new cards for a total of $156k. All were prime cards though, no store cards except my John Deere account. Also added a new truck loan. I had quite a few CLIs too probably around 15 or 20k. Jcrew alone gave me a $7k increase throughout the year. Thankfully next year I'll only be applying for one card unless something new comes out and all my INQs begin falling off. Dont know whether im impressed with myself or scared lol

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Not worried about AA, I'll be fine. If you read the original message I was mad about the score they use, not at the actual denial itself. Sure I'm not happy about the denial but oh well I'll live. I'm wondering if anyone has insight on where they get this extremely low score compared to everyone else. I know I have many new accounts and blah blah blah, I'm not some newbie crying about it on here about why I didnt get it because I know the reason. Its the score they use, it makes me want to steer away from them in any future endeavors if they use a system where my scores are 100 points less. That's what this post was originally intended for, not to hear a bunch of people talk about something I already know. Not my first rodeo guys

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I have 4 US Bank cards now, two issued just this year, and from what I can tell, from the Reasons Letter, it's always been standard FICO. I haven't been through any rebuilding cycle, and my FICO scores are reasonably consistent, but when I got the Travel Rewards a few months ago, the FICO was from TU and comparable to the CapOne displayed through those months.

The US Bank Fred Meyer card just issued in early December is also TU, showed 735 on the Reasons Letter when MyFICO shows 720 at that time. (since joining Oct 31, my TU has never been at 735 on MyFICO, but it was earlier, CapOne shows 750 at about June).

[One7]

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@dodgerslv wrote:

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@One7 wrote:

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@FinStar wrote:

There was another thread that highlighted the most recent CC growth.  I sure hope no lender takes AA because it will not be pretty.

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@One7 wrote:

Just did the totals... yikes... added 23 new cards for a total of $156k. All were prime cards though, no store cards except my John Deere account. Also added a new truck loan. I had quite a few CLIs too probably around 15 or 20k. Jcrew alone gave me a $7k increase throughout the year. Thankfully next year I'll only be applying for one card unless something new comes out and all my INQs begin falling off. Dont know whether im impressed with myself or scared lol

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Not worried about AA, I'll be fine. If you read the original message I was mad about the score they use, not at the actual denial itself. Sure I'm not happy about the denial but oh well I'll live. I'm wondering if anyone has insight on where they get this extremely low score compared to everyone else. I know I have many new accounts and blah blah blah, I'm not some newbie crying about it on here about why I didnt get it because I know the reason. Its the score they use, it makes me want to steer away from them in any future endeavors if they use a system where my scores are 100 points less. That's what this post was originally intended for, not to hear a bunch of people talk about something I already know. Not my first rodeo guys

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sorry to hear about the CLI denial One. What US Bank uses is a Fico 04 version model and dont be surprised of the actual score. My Fico 04 scores are almost 100 points less than Fico 08 also. I remember getting a score from US Bank a few months ago and it was 670 while Fico 08 here was around 772. I read the 04 model weighes heavily the INQs, new accounts and AAoA so maybe thats why the score is very low.

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Wow that's a hige difference! I understand there are many different Ficos out there but for one of them to be 100pts different just doesnt make sense. I do have many new accounts though so if alot of weight is put on that then it explains the low score. I'll have to stay away from US Bank for a while until my new accounts age

[One7]

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@NRB525 wrote:

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@One7 wrote:

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@FinStar wrote:

There was another thread that highlighted the most recent CC growth.  I sure hope no lender takes AA because it will not be pretty.

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@One7 wrote:

Just did the totals... yikes... added 23 new cards for a total of $156k. All were prime cards though, no store cards except my John Deere account. Also added a new truck loan. I had quite a few CLIs too probably around 15 or 20k. Jcrew alone gave me a $7k increase throughout the year. Thankfully next year I'll only be applying for one card unless something new comes out and all my INQs begin falling off. Dont know whether im impressed with myself or scared lol

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Not worried about AA, I'll be fine. If you read the original message I was mad about the score they use, not at the actual denial itself. Sure I'm not happy about the denial but oh well I'll live. I'm wondering if anyone has insight on where they get this extremely low score compared to everyone else. I know I have many new accounts and blah blah blah, I'm not some newbie crying about it on here about why I didnt get it because I know the reason. Its the score they use, it makes me want to steer away from them in any future endeavors if they use a system where my scores are 100 points less. That's what this post was originally intended for, not to hear a bunch of people talk about something I already know. Not my first rodeo guys

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I have 4 US Bank cards now, two issued just this year, and from what I can tell, from the Reasons Letter, it's always been standard FICO. I haven't been through any rebuilding cycle, and my FICO scores are reasonably consistent, but when I got the Travel Rewards a few months ago, the FICO was from TU and comparable to the CapOne displayed through those months.

The US Bank Fred Meyer card just issued in early December is also TU, showed 735 on the Reasons Letter when MyFICO shows 720 at that time. (since joining Oct 31, my TU has never been at 735 on MyFICO, but it was earlier, CapOne shows 750 at about June).

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It's so confusing with the many different scores out there, wish everyone just used the same model that way we wouldnt have this problem

[NRB525]

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@One7 wrote:

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It's so confusing with the many different scores out there, wish everyone just used the same model that way we wouldnt have this problem

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#FirstWorldProblems

[One7]

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@NRB525 wrote:

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@One7 wrote:

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It's so confusing with the many different scores out there, wish everyone just used the same model that way we wouldnt have this problem

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#FirstWorldProblems

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Haha... yeah I guess you're right. Bigger things we should be concerned about

[TRC_WA]

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@One7 wrote:

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@TRC_WA wrote:

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@Themanwhocan wrote:

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@TRC_WA wrote:

Maybe it's just me... but if I had $100k + of credit lines (just napkin math I didn't actually add up your accounts) I would have closed the $300 account long ago...

... and with that many new accounts... well... are you really surprised?

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They said they got that card at the start of their credit journey 10 months ago.  And they apparently gained that massive number of cards and credit limits in that 10 months, including a $30,000 NASA card and a $15,000 Diners Club card, both of which are pretty recent cards for most people that have them. And US Bank denied a CLI?

Hmm, perhaps I don't recall where I was going with this. I can't figure out why they would deny a CLI either...

Signed,

-Mr Friendly, Supportive, and Respectful

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How many new accounts in the OP's sig?

42?  In 10 months?  Obviously US Banks red flags went off.  Ya think?

I don't work in banking but the denial is pretty easy to figure out.  I'd wager too many inquiries was another factor.

Signed,

Captain Obvious

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10 months? Did you read the original thread at all? I started rebuilding 2 years ago (I know that isnt much better lol but still) and surprisenly EVERYONE seems to like my EX report because I only have 2 INQs on my TU report.

Signed,

The guy who reads info before speaking

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I wasn't quoting the original thread.  I was quoting the response to my response. 

I honestly didn't care enough to go back and read the original thread... much like I didn't care to add up your credit lines.  I read it once...

616 FICO 04 score right?  

 Signed,

The guy who isn't a rocket scientist but is pretty confident that 40 new accounts in 2 years would and should raise red flags with creditors... but you didn't come here to hear people talk about things you already know... because this isn't your first rodeo even though you didn't know that FICO does have different scoring models and there's lots of useful info here about it too to catch you up.

[ForumPheen]

Sharing.

US Bank was the first card I received (by way of recon) that began my credit journey some 18 months ago. Feeling bold, I decided to ask them for a CLI on my 2k line recently.  I don't know what they use (score model), but the SP came back with an approval to my requested new tradeline, 5k. 

I say all this to let you know that I feel your annoyance.  Had in fact US Bank declined me, I would have been annoyed, as I now have various cards with much higher limits, and am stronger and a better person (to lend to), but my "first love" still refuses me?  And cites an even more irritating reason of resurrecting an old score had that they just can't and won't let go of?

To the left, to the left. 

[One7]

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@TRC_WA wrote:

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@One7 wrote:

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@TRC_WA wrote:

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@Themanwhocan wrote:

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@TRC_WA wrote:

Maybe it's just me... but if I had $100k + of credit lines (just napkin math I didn't actually add up your accounts) I would have closed the $300 account long ago...

... and with that many new accounts... well... are you really surprised?

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They said they got that card at the start of their credit journey 10 months ago.  And they apparently gained that massive number of cards and credit limits in that 10 months, including a $30,000 NASA card and a $15,000 Diners Club card, both of which are pretty recent cards for most people that have them. And US Bank denied a CLI?

Hmm, perhaps I don't recall where I was going with this. I can't figure out why they would deny a CLI either...

Signed,

-Mr Friendly, Supportive, and Respectful

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How many new accounts in the OP's sig?

42?  In 10 months?  Obviously US Banks red flags went off.  Ya think?

I don't work in banking but the denial is pretty easy to figure out.  I'd wager too many inquiries was another factor.

Signed,

Captain Obvious

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10 months? Did you read the original thread at all? I started rebuilding 2 years ago (I know that isnt much better lol but still) and surprisenly EVERYONE seems to like my EX report because I only have 2 INQs on my TU report.

Signed,

The guy who reads info before speaking

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I wasn't quoting the original thread.  I was quoting the response to my response. 

I honestly didn't care enough to go back and read the original thread... much like I didn't care to add up your credit lines.  I read it once...

616 FICO 04 score right?  

 Signed,

The guy who isn't a rocket scientist but is pretty confident that 40 new accounts in 2 years would and should raise red flags with creditors... but you didn't come here to hear people talk about things you already know... because this isn't your first rodeo even though you didn't know that FICO does have different scoring models and there's lots of useful info here about it too to catch you up.

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Haha sorry it just got me aggravated whenever you so "usefully" used the words "ya think" and "signed captain obvious" on info you gave that had absolutely nothing to do with the question. You could of said that any other way but instead said it like a 14 year old teenager. Then you wonder why people get irritated. This is supposed to be a forum to help others not a place to be ignorant and bash people because they chose to go a different route when rebuilding, seems like my route worked pretty darn good, my scores are all in the low to high 700s now from the 500s there were just two years back. Dont "ya think"?

[One7]

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@ForumPheen wrote:

Sharing.

US Bank was the first card I received (by way of recon) that began my credit journey some 18 months ago. Feeling bold, I decided to ask them for a CLI on my 2k line recently.  I don't know what they use (score model), but the SP came back with an approval to my requested new tradeline, 5k. 

I say all this to let you know that I feel your annoyance.  Had in fact US Bank declined me, I would have been annoyed, as I now have various cards with much higher limits, and am stronger and a better person (to lend to), but my "first love" still refuses me?  And cites an even more irritating reason of resurrecting an old score had that they just can't and won't let go of?

To the left, to the left. 

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Thanks for the info, next year I'm letting go of quite of few cards that helped me rebuild and this one will most likely be one of them. Maybe in 2016 I'll pursue another US Bank card, possibly the Flex Perks once I get some age on these newer accounts. Maybe you are right and they are using a SP from a year ago, who knows

[TRC_WA]

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@One7 wrote:

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Haha sorry it just got me aggravated whenever you so "usefully" used the words "ya think" and "signed captain obvious" on info you gave that had absolutely nothing to do with the question. You could of said that any other way but instead said it like a 14 year old teenager. Then you wonder why people get irritated. This is supposed to be a forum to help others not a place to be ignorant and bash people because they chose to go a different route when rebuilding, seems like my route worked pretty darn good, my scores are all in the low to high 700s now from the 500s there were just two years back. Dont "ya think"?

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I'm actually 40... and I kinda get aggravated too when I get smartass replies to my posts.

Thing is though, it wasn't you... it was the other guy.  All I had said was "40 new accounts are you really surprised?" which is 100% true... because new accounts DO matter.  Then I get a "signed, mr. respectful blah blah" reply and that got the snowball rolling downhill...  

Now that you know there is a difference between FICO 08 and 04 you should be good to go.  You already know that opening 40+ accounts with $100k, oops, $256k worth of credit lines in 2 years leaves you wide open for "too many new account" and "too many inquiries" denials so at least you won't have to make a post about it next time.

Grats on your rebuild...