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US Bank

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Doc1
New Member

US Bank

US Bank has sent me two pre approved applications for a personal card. One by mail and one by email. They were both denied for too many credit card applications.  I even tried the reconsideration line. How can I get any one of theses applications approved?

Message 1 of 4
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Anonymous
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Re: US Bank

Unfortunately, if you've already tried recon and had no success, that's the end of it.

 

Prequalifications are "firm offers of credit" but are not set in stone.  There is always a paragraph of tiny print on there somewhere that says, more or less, "if, under more intense scrutiny than we got from our soft-pull glance at your credit file, you fail to meet our unpublished protected trade-secret formula for what we can accept, we will refuse to offer you a card even though we sent you this pre-qualified letter and coerced you into trying.  Please enjoy the HP(s) we leave you as a souvenir."

 

In your case, their prequalification computer program did not check your inquiries (most of the ones out there don't, actually) and so it spit out offers for you.

Their actual approval computer program did check your inquiries (all of them do, just depends on the lender's policy what weight they put on them), and your file did not pass.

 

Sorry about your frustration.  Pre-qualified offers can be very tempting, especially for those who are looking to build or rebuild credit, but ultimately they do not obligate the lender to offer a card, and can lead to disappointment (and extra HPs).  Anyone considering applying for anything should be aware of the generally observed habits of the lender in question with regard to score ranges for acceptance (although this is very fluid across the board), sensitivity to inquiries, and tolerance for derogatory entries.

Message 2 of 4
Doc1
New Member

Re: US Bank

Just got off the phone with a US Bank reconsideration person. She was not a nice person to talk to. I forgot to ask the last person I spoke to if I could transfer some of my Business credit card to the personal credit card I was denied for. She said in a nasty voice twice she had no idea what I was talking about. She also said that my application was declined so their was nothing to do since their was no personal card. I felt like telling her I wouldn't need to switch credit over if the application was approved.

Message 3 of 4
Anonymous
Not applicable

Re: US Bank

Business credit lines and personal credit lines are completely separate things.

You cannot move part of a business credit line to a card designated for personal use.  There are several legal, not to mention bookkeeping, reasons for this.

Personal credit is used by a "consumer" to purchase goods and services.  The collection laws and reporting laws on these things are very detailed and strict.

Business credit is not personal credit, and is governed a bit differently in many respects.

Therefore, the two cannot cross over.  Sorry you had such a rude person trying to (or specifically not trying to, as the case may be) explain this for you.

Message 4 of 4
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