US Bank Shield preapproval said no, but...

[Fee-Fi-Fo-Fico]

An hour later I have an email from them saying to complete my application? 

IMG_3098.jpeg

Very confused here. I don't want to waste a hard pull on this if they really are not going to approve me. 

[GZG]

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@Fee-Fi-Fo-Fico wrote:

An hour later I have an email from them saying to complete my application? 

IMG_3098.jpeg

Very confused here. I don't want to waste a hard pull on this if they really are not going to approve me. 

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did it say no or did it just go pending?

I would call and ask for the application status of your shield application, don't mention you only did a pre-approval, they should come back and tell you what the computer spit out for a limit/apr

approval isn't guaranteed by any means, but if they can tell you a limit/apr, you can see what US bank's underwriting might be thinking

[SusanJA]

I think that's just automated for everyone who starts. Don't read too much into it. 

[portlandmusician]

@Fee-Fi-Fo-Fico That's not necessarily unusual. U.S. Bank's preapproval and marketing systems don't always seem to be perfectly synchronized with the actual application system.

A "not pre-approved" result doesn't automatically mean you'll be denied if you submit a full application. It just means you didn't meet whatever criteria they were using for that particular preapproval offer. The follow-up email inviting you to complete the application is often more of a marketing solicitation than an indication that you've been approved or are guaranteed approval.

If you're concerned about taking a hard inquiry, I'd be cautious about reading too much into the email itself. U.S. Bank is known for being relatively conservative with new accounts and recent credit-seeking activity, so the underlying credit profile still matters much more than a marketing email.

Let us know... did you end up proceeding with the application? If so, what was the final outcome—approved, declined, or still pending? Also, what did the original preapproval page actually say when it told you "no"? An update would be helpful since others may run into the same situation.

[brunolly]

In my recent experience with US Bank, if you get that pre-approval email you're very likely approved.  They just wanted to do a quick manual review first.

[TrapLine]

As has been stated, US Bank loves the automated systems and then kick it to manual review. This is their style and has been for a long time.

Around this Forum posters have pretty well covered USB and their habits. The two things they like are few new accounts when applying and they truly do look at relationships. They have had an internal scoring system that can weigh in on a consumer's request for products. This is in addition to their other underwriting standards.

[chuckwood]

Call the credit department at 1-888-777-4444 and ask about if they can give you the info for the preapproval.  They will give you the amount and apr that you were preapproved for.