US Bank Cash+ Denial, Should I Recon?

Anonymous · ‎08-15-2019

Applied for the US Bank Cash+ on 8/4/19, got the 7-10 days. 3 days later, I called the 800 number and got a denial. Letter came in today, reason was "too many tradelines opened in the last 12 months." They pulled TU FICO 9 Classic with a Score of 749. Should I recon this or let it go? And is it another HP for recon?

5 new accounts in the last 12 months. 5 inquiries in the last 12 months on TU.

FinStar · ‎08-15-2019

The reason cited for the decline is typically not prone for reconsideration, unfortunately. That said, you can always try, but be aware that they can HP again based on known DPs, so your outcome would definitely vary if you decide to pursue it.

Anonymous · ‎08-15-2019

@FinStar wrote:
The reason cited for the decline is typically not prone for reconsideration, unfortunately. That said, you can always try, but be aware that they can HP again based on known DPs, so your outcome would definitely vary if you decide to pursue it.

Thanks @FinStar , I will just garden for a while. 3 accounts will age over 1 years in the next few months.

Anonymous · ‎08-15-2019

Do you have a banking relationship with U.S. Bank? That would certainly help in terms of approvals.

It wouldn't cost you anything to recon so I'd suggest doing so. You can call U.S. Bank Underwriting Services at (800) 974-1444 and press the option to speak with a representative. They are usually very pleasant to deal with so dont be hesitant, just make sure you have your possible reasons/explanations lined up. The person you speak with can't do the recon but they will resubmit your application into the underwriting queue for a fresh look by another underwriter.

Remedios · ‎08-15-2019

I was computer denied for 2 new accounts (maybe three, I've lost count) but it was approved on recon.

No second HP was done. It is at their discretion whether they want to send it back for review or not, but you really have nothing to lose by asking.

If you get a "no" on a first try, don't bother calling again.

Six months with no new accounts should do the trick.

kdm31091 · ‎08-15-2019

Typically too many new accounts/inquiries is tough to overcome with US Bank. As stated not much to lose by trying; maybe on manual review a rep will be more lenient. That said, it's definitely harder to get a succesful recon with a lot of banks these days. Unless there's an error/mistake the decision tends to stand when it's based on things like too many inquiries or new accounts. But, nothing to lose as long as you understand another HP could be done (doesn't always happen, but keep in mind).

Anonymous · ‎08-15-2019

@Anonymous wrote:
Do you have a banking relationship with U.S. Bank? That would certainly help in terms of approvals.

It wouldn't cost you anything to recon so I'd suggest doing so. You can call U.S. Bank Underwriting Services at (800) 974-1444 and press the option to speak with a representative. They are usually very pleasant to deal with so dont be hesitant, just make sure you have your possible reasons/explanations lined up. The person you speak with can't do the recon but they will resubmit your application into the underwriting queue for a fresh look by another underwriter.

I have a business checking with US Bank. No personal account. Does that count?

Anonymous · ‎08-15-2019

@Remedios wrote:
I was computer denied for 2 new accounts (maybe three, I've lost count) but it was approved on recon.
No second HP was done. It is at their discretion whether they want to send it back for review or not, but you really have nothing to lose by asking.

If you get a "no" on a first try, don't bother calling again.
Six months with no new accounts should do the trick.

I tried calling, but they are closed. Will try tomorrow morning.

Anonymous · ‎08-15-2019

@kdm31091 wrote:
Typically too many new accounts/inquiries is tough to overcome with US Bank. As stated not much to lose by trying; maybe on manual review a rep will be more lenient. That said, it's definitely harder to get a succesful recon with a lot of banks these days. Unless there's an error/mistake the decision tends to stand when it's based on things like too many inquiries or new accounts. But, nothing to lose as long as you understand another HP could be done (doesn't always happen, but keep in mind).

It's not the end of the world if I don't get approve. Will try to recon tomorrow morning.

Anonymous · ‎08-15-2019

@Anonymous US Bank has a "Customer Relations Score" or something like that. Since you already have a Business Checking there may be an opportunity. Usually helps for the personal USB products. Do not know for the business. Good luck!