US Bank Cash+...Ready to Apply?

[Anonymous]

Hello everyone, newbie here but grateful for all the information shared here in the forums and need some guidance.

I've been considering applying for the US Bank Cash+ and based on the information I've read here it's recommended to be 0/12 for inquiries. My last application inquiry was on 1/27/2020 and no negatives on file. However, I did have a CLI request that I was approved for with BoA on 3/2/2020.

Would I be ok to apply at this time or should I still wait? I'm not sure if I can get my foot in the door with US Bank based on the various experiences shared in the forums but any guidance or suggestions are appreciated.

TU: 764
EX: 760
EQ: 765

Overall credit utilization: 19%

[FICOlearner123]

If the BOA cli resulted in a HP (looks like ita soft pull these days) then better to wait, if not go for it

[coldfusion]

I haven't seen a datapoint since around July 2018 that a BoA CLI request triggered a hard pull, and I suspect that report was in error.

OP:  if you think that your ducks are otherwise all lined up there's no gamechanging reason to hold off on applying. 

[Anonymous]

I was curious about that as well since I don't recall any alerts at that time. I'm currently going back and looking at my information and monitoring and don't see a hard pull so I believe you're correct.

[Ficoproblems247]

The 1/12 rule is referring to opened accounts in that period, not inqs. Now if you had a profile riddled with fresh inqs they still may deny you, but as long as you have opened no more than 1 new TL in the previous 12 months, you have satisfied at least that portion of their UW. 

[Anonymous]

I appreciate the replies thus far. There is alot of knowledge and experience that I've gained from everyone here in the forums. 

[drewopa]

I would definitely recommend a checking account with them if applying for card.  I did not/do not have one and SL and CLI were small.  Hopefully, an account would help.

[coldfusion]

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@drewopa wrote:

I would definitely recommend a checking account with them if applying for card.  I did not/do not have one and SL and CLI were small.  Hopefully, an account would help.

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Not really, they aren't in that way a relationship bank in the same vein as for example Bank of America or Wells Fargo when applying for a card.  

[KJinNC]

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@Anonymous wrote:

I've been considering applying for the US Bank Cash+ and based on the information I've read here it's recommended to be 0/12 for inquiries.

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To be clear for both the OP and others reading this thread in the future, 0/12 refers to accounts (especially cards) opened in the past 12 months. It does not refer to inquiries. I am not aware of US Bank having any specific rule about inquiries, though all lenders prefer fewer inquiries and I'm sure they do as well.

0/12 means you haven't opened a card in a year. 1/12 means you have opened one card in a year. Sometimes, people also include loans in these expressions. It is best to specify which you mean, cards only, or all accounts. An inquiry is not an account.

Based on what you posted, I think you'd get the US Bank card. JMO. Good luck!