US Bank will not recon denials for too many new accounts

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

I applied for the Cash+ last month and I received a rejection letter for too many hard inquiries (9), I called them up to explain that it’s from when I was looking for an auto loan a few months ago and the dealer had multiple banks pull my credit and the woman said she does see that and would have someone manually review it.  It’s been over a week and I haven’t heard or seen anything yet.

All my scores are 810+, I’ve never missed a payment, my oldest account is 19 years old, my utilization is 3% and I’ve never been denied before.  I’m convinced that US Bank is incompetent.

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If your scores are 810+, I'm not sure why the dealer had to shotgun your application around to 9 lenders.  It sounds like they are incompetent.  While those inquiries(assuming they are coded properly) will end up being scored as 1 inquiry, the fact is you still have 9 recent inquiries regardless of the reasons.  I would call UW back.  Perhaps your card has been shipped?

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I went to 2 dealerships, they in turn send your credit request to multiple banks to get you the best offer.  My score is calculated as if it is one inquiry, but it still shows 9 hard inquiries.  However I did manage to get a .9% rate for a Lexus.

[Anonymous]

In the future you should get pre-approved with a CU for a low rate and walk into the dealership and tell them you only want 1 INQ for their best rate if it beats your pre-approval rate.

I didn't have the shotgun approach when dealing with Audi but, then again I've played the Auto Roulette of INQ's game before.  If you've ever bought a car from a dealer before you know they're going to do it.... just don't authorize it before they do.

[Anonymous]

Another day, another denial. 

“When we see 8 accounts in the last year, it’s too much, we want to see at least 6 months of history on all of these accounts, probably more likely 9 months with the fact that you have been issued high limits, before we can approve you.”

It was 6 months last time and I pointed that out and she said they’re looking at 12 months more frequently now. 

I think I’m just going to toss Cash+ as a goal card. They change the categories often and make them less and less broad and they keep moving the goal on approvals. 

[VanderSnoot]

Sorry to hear it, Saeren. If only issuers factored MF posts into their decisions.

[Anonymous]

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@VanderSnoot wrote:

Sorry to hear it, Saeren. If only issuers factored MF posts into their decisions.

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I can’t complain too much. I scored $18K worth of unsecured credit from Friday to Monday between 3 cards. 4/4 would have been amazing but I didn’t expect to get a 4/4 sweep. I figured they would shoot me down for 2/6 (because Sync reported my Payboo card literally the next day), not for 8/12. I tossed in the app because I was already out of the garden but I’m not willing to go 0/12 for a category card that changes all the time when I have BBVA earning 3%. 

I only posted about it to make people aware that they’re looking at 12 months now. I will ride the thrill of my Savor One approval into the sunset while giving the finger to US Bank. 🤷‍♂️ 

[Anonymous]

Like I said in the other USB thread... time for a tracking thread.... 

Depending on the Cash+ "need" there are other options out there for increased rewards.

[Anonymous]

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@Anonymous wrote:

Like I said in the other USB thread... time for a tracking thread.... 

Depending on the Cash+ "need" there are other options out there for increased rewards.

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I mean I get 3% on cable and cell from BBVA. Would $10 a month be better than $6 a month? Absolutely but I’m not going to lose sleep over it. They can keep the card. Just like Chase, I’m not going to specifically hold off from apping for a specific card — and watch, Credit Journey will likely light up with an offer from Chase when my BK falls next year and I’ll get around 5/24 anyway because they’ll have been monitoring my TU for about a year and a half by that point. 

[Remedios]

@Anonymous  I have to ask, was this a separate app from the one 45 days ago where they denied you for new accounts, but you added 4 more and applied again or am I losing my mind here? 

I am slightly confused 

[K-in-Boston]

Sorry to hear about the recon not working, but new accounts and recent inquiries is definitely a YMMV thing with them.  Both of my cards went to manual review (I notoriously had to recon the SL on the Cash+) but were approved being ROFLMAO/24, LOL/12, and HA/06, with many inquiries for new accounts and lots of HP CLI action.

[Anonymous]

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@Remedios wrote:

@Anonymous  I have to ask, was this a separate app from the one 45 days ago where they denied you for new accounts, but you added 4 more and applied again or am I losing my mind here? 

I am slightly confused 

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Separate app and I technically only had 1 new account reporting because Sync reported the next day. I didn’t expect to be approved this time but since I was already out of the garden and I knew I would be stuck waiting 6 months anyway, I took a shot because what’s another HP? I figured there was a small chance of approval so I tossed the app. 

The two accounts in the last 6 months were DCU in February and B&H Payboo on Friday. Amex and Capital One aren’t reporting yet.