How solid are these? I am pre-qualified for 3 and am really interested in the Cash+ ($150 back after spending $500, 0% APR for 15 months, 18.24% after). My TU score should now be somewhere around 730 and my overall UTI is 9%. I'd love to have the card but I am worried about the dreaded 500 SL.
They tend to be sort of conservative and prefer prior relationship. I’ve seen some people have great success, though, even without any prior relationship. But we can’t all get to the big leagues of a full one thousand SL
Both of my prequals were solid with US Bank. I got one of the fabled $500 SLs on my Cash+, but a quick call to underwriting had that to $15k (I should have asked for more). A year later I grabbed the Altitude Reserve with another prequal and it was a $14,000 SL. Zero relationship prior to that Cash+ for me, but certainly people here report much better outcomes when they do already have a relationship.
So I read in another topic how it might help to apply for a checking account first (or at the same time). I saw on their site that they have a special program for those that qualify based on credit score (I was qualified and applied). Once I finished applying for it, a pop-up came up saying I was pre-qualified for 2 cards, one being the Cash+. Unfortunately it wasn't the same offer I got when checking pre-quals. While it showed my credit limit would be $2500 and the SUB, it was not showing the 0% APR on purchases for 15 months. I decided to re-check the pre-quals and they were still the same, so I app'ed through that. I didn't get an instant decision (which apparently is normal for them). Did I screw up by not doing the pre-qual through my checking accoutn application, or should I still get the credit limit they were showing?
Aircobra, can you report back what you find out?
So I got ahold of Underwriting (after like 40 minutes on the phone). Apparently both applications went through, even though I didn't submit the first one. She said the first one (which was the offer after setting up a checking account), was for $2500 but no 0% purchase promo and the one that I did on its own was only for $1000. She said she could cancel the first one and request a higher limit for the second one, since it has the better offer. I asked for $3000 and she approved it (she said she normally doesn't do this for customers, whether that's true, I didn't really care). Said that I still had to wait 24-48 hours for final processing but I asked if I was pretty much approved, and she said yeah.
I'm quite happy given the horror stories of the $500 SL. I cannot say for sure that applying for a checking account during or prior to app'ing for a card helped but since the Gold checking had the offer, I couldn't pass it up. Hopefully my experience helps those on the fence.
curious how many hard pulls did they do for everything? opening the checking account and the 2 approved cards?
I'd been eye balling this card for a little piece of a while and would check for the pre-quals every so often. When my scores were up there would be several offers, when it was down (usually due to the number of accounts) sometimes there wouldn't be any. I felt pretty confident about thier offerings. I had no prior relationship with US Bank when I apped last week. My TU was about 726 at last check and I have opened about 3 or 4 accounts already this year alone. I pulled the trigger expecting 1) manual review and 2) a very conservative limit. It was essentially instantly approved for 3K. Not a huge limit by some standards but I'm more than ok with it given the reputation of the notorious $500 limits.