USBank CLI

[Anonymous]

I received a letter from USBank today urging me to request a CLI and dangling $4500. 

From reading on here, I know that USB is highly inquiry and new account sensitive. After my 5 CC binge since last May, I assume that makes me highly undesirable to them. My card is a vanilla Visa that I have nursed since 1996. That's the only reason I still have it - it's my 2nd oldest CC. I throw something on it every couple of months, but otherwise I only find it useful for account age and no fees on my checking account.

I would love to PC to the Cash +, but I know I'm currently in the doghouse for 12-24 months. I absolutely don't want a potential triple pull added on top of that, only to be shot down. Considering they have 25 years of history and soft pulls, what more do they possibly need? If they want to give me $4500, give it to me already lol. On top of that, they are our main bank so they have 25 years of internal banking history, too. Unfortunately, that also means they have 25 years of my husband's less than stellar credit history. 

Has anyone received one of these letters? Did you request? Do they triple pull for CLI? Does attempting to PC result in a hard triple pull and have the same strict inquiry/new account standards. 

I have a feeling I should back away and drop this in the shredder. 

[FinStar]

Is your husband listed jointly on this particular account?  If not, just leave that out of the equation as far as his credit history and yours with regard to USB.

Also, even if you've banked with USB for X number of years, they can still preform periodic account reviews that may make your profile eligible for different things, such as a CLI or new credit card offer.  Having said that, USB does grant auto-CLIs based on reported DPs.  They may not be as frequent, but they happen.  Worse case scenario they HP and not grant CLI.  Or, see what they can offer if you pull the trigger.  You won't know unless you decide to do so.

As far as PCs, they have been flexible with those recently.  These do not require a HP whatsoever. I would reach out to them and see whether your account is eligible for a PC to Cash+ or any other product that may be of interest.

[Ficoproblems247]

Just to add too that they will not triple pull you for anything, that's Capital One that does that. US Bank should only be a single pull. Seems like it's usually from TU, but could definitely be from any of the 3. 

[Anonymous]

Thank you both. No, he has never been on the USBV. We do have a joint checking (for household bill purposes) that we've had for many years. I'm the only one who manages that account. I also have a separate checking & savings at another bank and a Schwab investment account. He had not one, but two USB individual checking accounts. Both were closed by USB because he had endless problems - fraud on his debit cards, overdrawn, etc. 

USB has given me unprompted auto-increases over the years. I've never requested one. That why I was surprised they wouldn't give me another increase instead of urging me to request one. Good to know it's 1 pull for a CLI. I must've mixed that up with Cap1, so thank you for correcting me. 

I'm less concerned with a CLI than the opportunity to PC to Cash+ and have a more useful card while preserving the 25 year history. So I think I'll give them a call next week. Is there any extra benefit to going in person? I'm very close to what they label a "state branch". 

[Anonymous]

Just updating that I called and they did change it to a CashPlus, so I'm very happy about that. No pull of any kind. Just verified address and said it was on its way. The entire call took about 2 minutes and I should've done it ages ago. They didn't bring up CLIs and I didn't ask. I'm going to see if it still sits at its current limit when it arrives. If so, I'll likely go ahead and take the 1 hard pull, see what happens, and update again. 

Thank you again for the wealth of information. 

[Mr_Mojo_Risin]

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@Anonymous wrote:

Just updating that I called and they did change it to a CashPlus, so I'm very happy about that. No pull of any kind. Just verified address and said it was on its way. The entire call took about 2 minutes and I should've done it ages ago. They didn't bring up CLIs and I didn't ask. I'm going to see if it still sits at its current limit when it arrives. If so, I'll likely go ahead and take the 1 hard pull, see what happens, and update again. 

Thank you again for the wealth of information. 

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Super news! That Cash+ is a great looking card, cheers!

[Ficoproblems247]

That's awesome to hear! I'm glad it all worked out well. Thank you for updating us and sharing your DPs! Enjoy the new card.

[GrandBay]

@Anonymous how's the card working out?