US Bank Cash Plus - data points?

[expatCanuck]

Hi folks.  Credit's in a good place overall, but I'd like to continue to diversify and was looking at the US Bank Cash Plus card.

Scores are all over 825, INQs are 6 or 7 depending on the bureau (2-3 w/in the past year).  Income adequate.

Anyone have a sense of which bureau US Bank pulls and, if I qualify, what the CL is likely to be.  I've heard tales of the $500 toy limit, and if that's likely, then I really don't want to play -- better to wait 'til I"m 4/24 (6 months or so) and get the Chase Freedom (already have the CFU & CSR).

Any & all insight welcome.

[kdm31091]

They're typically conservative and most reports suggest they have tightened up even further with the Cash+ card. Not too many approvals lately, and as you stated, $500 is a common SL.

With your score, relatively low inquiries, and good income, I would say you'd probably be fine, but US Bank is hard to predict. In most cases, though, they aren't known for huge starting limits even if you don't get the dreaded $500.

[Anonymous]

@expatCanuck US Bank pretty much manual reviews most lending applications and might take a couple days (depends on how backed up they are - I think).

As the other poster mentioned, "they are more conservative" now than six months to two years ago. Will say, they never really opened the flood gates like many lenders anyway.

You have good scores and income. About all you can do is give them a shot.

Will add, they have treated me very well and use the "Customer Relationship Score" that I have to break any borderline questions on lending.

[Remedios]

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@expatCanuck wrote:

Hi folks.  Credit's in a good place overall, but I'd like to continue to diversify and was looking at the US Bank Cash Plus card.

Scores are all over 825, INQs are 6 or 7 depending on the bureau (2-3 w/in the past year).  Income adequate.

Anyone have a sense of which bureau US Bank pulls and, if I qualify, what the CL is likely to be.  I've heard tales of the $500 toy limit, and if that's likely, then I really don't want to play -- better to wait 'til I"m 4/24 (6 months or so) and get the Chase Freedom (already have the CFU & CSR).

Any & all insight welcome.

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They dont like new accounts. Feel free to ask me how I know 😐

If you have more than two in a year,  more than likely you would not be doing recon for SL but denial. 

While they "like" clean files and scores, they are allergic to new accounts. 

I hope that's not your experience if you chose to apply at this time. 

[pizza1]

Don't ask me how in the world I got approved for $5k on the cash plus a little over a year ago, but I did. My profile is crazy too..I also have biz card and biz checking with them as well.

Instants are rare, and if you get the $500sl like most folks, just call into UW and plead your case. A lot of folks get CLI's that way. Its a good card.

[calyx]

USBank seems to like TU a lot, but when I applied, they pulled EQ for me (NC), and then TU for everything afterwards.
I got their secured product initially and when I graduated, I spoke with them and asked about PCing my Plat to a Cash+ and they told me no - due to too many recent accounts (at least they were willing to use the recent pull to check).   They "invited" me to apply for a brand new Cash+ card (vs PCing), but admitted approval was unlikely.

They also pull Sagestream.

[expatCanuck]

Thanks, all.

Since I've added 3 accounts in the past year (and am currently 9/24), sounds like it's best to wait.

I'll be 5/24 in January -- 4/24 by April/May. It may be time for a Chase in-branch visit. Who knows?

[JR_TX]

They pulled my EQ last year 07/2018 when I got instant approval of $9K SL. Mid 700’s I think was my score with very low HPs (less than 3?) and newest acct was 17 months old. Took another EQ HP last month for a $6K CLI to $15K now.

[expatCanuck]

Thanks, @JR_TX.

$64K question -- did you have an existing banking relationship with USB?

[Anonymous]

US Bank has really tightened up. They declined me in April for too many new accounts in 6 months and then when I tried in June they told me they want to see at least 9 months of history on my accounts I had then and no further accounts added but suggested a year with no new accounts would be better. 

They have declined various profiles for being over 1/12 and declined to send to UW for recon as well. 

Lots more misses than hits since June which is when they told me their UW criteria had changed.