cancel
Showing results for 
Search instead for 
Did you mean: 

US Bank will not recon denials for too many new accounts

tag
Anonymous
Not applicable

Re: US Bank will not recon denials for new accounts


@Anonymous wrote:

@Anonymous wrote:
Yeah I can’t see myself staying in the garden that long with a purchase looming. It’s a nice card but there are others out there.

I will likely add at least one more this year although I can’t see myself doing 6 in 6 again.

Truth be told I thought for sure that I was wasting time holding off an app for US Bank since they were IIB so since Experian ended up getting cleaned up in April instead of July, I tossed the app now. I figured worst case scenario they’ll want me at 0/6 and this would be a way for me to find out and I would toss an app in September but yeah, 0/12 is just flat out not gonna happen.

last year i was approved for 11 cards! Only lenders i remember turning me down were Barclay and Wells Fargo.

 

what card were u going for?


I was going for Cash+

 

I may shoot for it again in September when I go to 0/6 or I may move on and get another card. 

 

I am going to wait and see what my letter says because I get the feeling that’s not the whole story and if I call recon armed with all of the information, I may be able to get them to reconsider. 

 

And yeah, Barclays all but laughed in my face on my Uber app that I also put in on Friday. I actually hadn’t connected the dots that I was 6/6 until the rep was all “yeah with 6 accounts in 6 months, we definitely can’t approve you. You are correct that you’ve done great with your rebuild but that’s too many new accounts.”

 

Oh well. Maybe I’ll just ask NFCU for the cashRewards to complete the trifecta. There’s definitely some exposure wiggle room left with them and I would be lying if I said I don’t miss my cashRewards.

Message 21 of 47
Gollum
Established Contributor

Re: US Bank will not recon denials for new accounts

Huh. I thought I was being prudent by waiting one year between applying for credit cards.

If x/y means x number of new credit cards in y number of months, then I am 1/11, 2/23, 3/100+, and 4/240ish.

Credit Scores: (FICO 8) 846 Experian March 2024, 844 TransUnion March 2024 | (FICO 9) 850 Equifax March 2024
Credit Cards (newest to oldest): NFCU VISA Platinum $25,000 | BECU Cash Back VISA $10,000 | American Express BCE $9000 | Simmons Bank VISA $7500 | Capital One Quicksilver VISA Platinum (PC/upgrade from No Hassle Miles Rewards VISA Platinum) $500
Message 22 of 47
kdm31091
Super Contributor

Re: US Bank will not recon denials for new accounts


@Anonymous wrote:

@Anonymous wrote:

@Anonymous wrote:
Yeah I can’t see myself staying in the garden that long with a purchase looming. It’s a nice card but there are others out there.

I will likely add at least one more this year although I can’t see myself doing 6 in 6 again.

Truth be told I thought for sure that I was wasting time holding off an app for US Bank since they were IIB so since Experian ended up getting cleaned up in April instead of July, I tossed the app now. I figured worst case scenario they’ll want me at 0/6 and this would be a way for me to find out and I would toss an app in September but yeah, 0/12 is just flat out not gonna happen.

last year i was approved for 11 cards! Only lenders i remember turning me down were Barclay and Wells Fargo.

 

what card were u going for?


I was going for Cash+

 

I may shoot for it again in September when I go to 0/6 or I may move on and get another card. 

 

I am going to wait and see what my letter says because I get the feeling that’s not the whole story and if I call recon armed with all of the information, I may be able to get them to reconsider. 

 

And yeah, Barclays all but laughed in my face on my Uber app that I also put in on Friday. I actually hadn’t connected the dots that I was 6/6 until the rep was all “yeah with 6 accounts in 6 months, we definitely can’t approve you. You are correct that you’ve done great with your rebuild but that’s too many new accounts.”

 

Oh well. Maybe I’ll just ask NFCU for the cashRewards to complete the trifecta. There’s definitely some exposure wiggle room left with them and I would be lying if I said I don’t miss my cashRewards.


With 6/6 you are going to have trouble with many banks. It may not be the whole story on the denial, but it is probably a large part of it. Too many new accounts is a hard thing to recon because the bottom line is the banks wants to see history on the accounts (and to see you are not just churning) and the only thing that does that is time.

 

With Barclay and US Bank, time is what you need...just let your accounts age and stop applying for new ones for awhile.

Message 23 of 47
Anonymous
Not applicable

Re: US Bank will not recon denials for new accounts

Got my letter today. Two reasons. 

 

1) Credit bureau report contains a number of recently opened trade lines. 

2) A bankruptcy filing on the credit bureau report. 

 

Surprised to not see previous relationship referenced at all, they apparently have forgiven my burning them in BK. 

 

They somewhat comically suggest I go for their secured card at the bottom of the letter. Yeah no. 

 

Pulled EX FICO 9 @ 720. 

 

I am undecided if I will bother with another app in the future. I guess we will see what categories they have next year. 

Message 24 of 47
forestgreenrover
Regular Contributor

Re: US Bank will not recon denials for new accounts


@Anonymous wrote:

Yeah I will see what the reasons are and that will dictate if I try to stay in the garden til 0/6 (September) or if I move on. 

 

Its definitely surprising that previous relationship isn’t the standout reason although I’ll be shocked if it’s not on there. 

 

Its not inquiries because I only had 3 in the last 24 since Experian purged all of my inquiries older than April 2018 last month. My oldest on Experian right now is BBVA in December then I’ve got Amex in January and Citi in February and now US Bank. 


By what manner of sorcery were you able to achieve this?!?

AmEx Gold, BECU Cash Back 38k, PSECU Founders Visa Sig 30k, IKEA Projekt 28k, NFCU CashRewards 28k, Macy's AmEx 25k, NFCU More Rewards 24.5k, PNC Cash Rewards Visa Sig 20k, PNC Core 20k, Lowe's 17k, Overstock.com 16k, NFCU Plat 15.3k, FNBO Visa 12.3k, AmEx BCP 12k, AmEx EDP 12k, Citi DC 11k, AmEx Delta Gold SkyMiles 10k, PayPal 2% 10k, NFCU CLOC 10k, BBVA Clear Points 9.5k, Amazon Store 8k, Discover it 7.9k, PenFed Power Cash 6.25k, Kay 5.25k, Huntington Voice Plat 5.1k, J.Crew 4.5k, 5/3rd Trio 4k, Citizens Cash Back+ 3.8k, BB&T Bright 3.5k, BB&T Spectrum CR 3.5k, WF Cash Wise 3k, Huntington Voice Rewards 2.9k, WF Propel 2k, BECU Visa 2k, Citi Goodyear 1.9k, Cap 1 QS 1.75k, Cap 1 QS 1.45k
Message 25 of 47
Anonymous
Not applicable

Re: US Bank will not recon denials for new accounts


@forestgreenrover wrote:

@Anonymous wrote:

Yeah I will see what the reasons are and that will dictate if I try to stay in the garden til 0/6 (September) or if I move on. 

 

Its definitely surprising that previous relationship isn’t the standout reason although I’ll be shocked if it’s not on there. 

 

Its not inquiries because I only had 3 in the last 24 since Experian purged all of my inquiries older than April 2018 last month. My oldest on Experian right now is BBVA in December then I’ve got Amex in January and Citi in February and now US Bank. 


By what manner of sorcery were you able to achieve this?!?


Beats me. They just up and disappeared. Not like I had a lot to begin with but I’m now lacking 11/2017 Ollo and 3/2018 Amex which makes the US Bank my 4th inquiry on EX instead of 6th. 

Message 26 of 47
JaseT
Established Contributor

Re: US Bank will not recon denials for too many new accounts


@Anonymous wrote:

I just got off the phone with US Bank and they will not even submit a recon because I have too many new accounts. I suggested waiting until January — she suggested waiting until April. Yeah, I’m good. Writing this one off for now. I have 6/6, 10/12, 11/24.

She told me that their guidelines changed and that they want to see a year of history on new accounts.

I guess the good news is that somehow I ended up not being on a blacklist despite burning them 8y8mo ago.

I don’t plan to garden for that long for a card that constantly has bonus categories changing though when I can get SUBs worth more than the difference between my BBVA 3% and the Cash+ 5% so yeah, probably not going to bother with another app any time soon. Just sharing the info I was given.

 

Note that I am not surprised nor upset about this. I would have been more upset if I gardened until June/July for the same outcome. I know US Bank is new account sensitive and I don’t plan to stop adding new accounts when I feel like it. I am just sharing some DPs. 

 

HP EX 710 FICO 8, don’t know my FICO 9

BK7 and no other derogs

2% aggregate, 9% individual utilization


Define 'soon.' Smiley LOL Smiley Wink

 

How long post-bk discharge does US Bank require? 5 years I'm guessing?

 


BK7 Filed 12/16, Discharged 3/17 *** Current Revolving CL Total $122.1k *** PIF/AZEO
6/19 FICO SCORES:
On My Radar Cards: Nothing ATM
Future Goal Cards: US Bank Cash +, Citi Double Cash, Discover It, BoA Cash Rewards, USAA Cashback Rewards Plus Amex
Message 27 of 47
Anonymous
Not applicable

Re: US Bank will not recon denials for too many new accounts

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.

Message 28 of 47
Anonymous
Not applicable

Re: US Bank will not recon denials for too many new accounts


@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.


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?

Message 29 of 47
Anonymous
Not applicable

Re: US Bank will not recon denials for too many new accounts


@JaseT wrote:

@Anonymous wrote:

I just got off the phone with US Bank and they will not even submit a recon because I have too many new accounts. I suggested waiting until January — she suggested waiting until April. Yeah, I’m good. Writing this one off for now. I have 6/6, 10/12, 11/24.

She told me that their guidelines changed and that they want to see a year of history on new accounts.

I guess the good news is that somehow I ended up not being on a blacklist despite burning them 8y8mo ago.

I don’t plan to garden for that long for a card that constantly has bonus categories changing though when I can get SUBs worth more than the difference between my BBVA 3% and the Cash+ 5% so yeah, probably not going to bother with another app any time soon. Just sharing the info I was given.

 

Note that I am not surprised nor upset about this. I would have been more upset if I gardened until June/July for the same outcome. I know US Bank is new account sensitive and I don’t plan to stop adding new accounts when I feel like it. I am just sharing some DPs. 

 

HP EX 710 FICO 8, don’t know my FICO 9

BK7 and no other derogs

2% aggregate, 9% individual utilization


Define 'soon.' Smiley LOL Smiley Wink

 

How long post-bk discharge does US Bank require? 5 years I'm guessing?

 


Ha! I guess my gardening didn’t last very long. I think I had a spade for two or three days before I did my mini spree Friday through today. 

US Bank pending... 😂 

Message 30 of 47
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.