First card with U.S. Bank: only approved for a 500... - myFICO® Forums

Hammer · ‎10-03-2023

Last week I applied for the U.S. Bank Shopper Rewards credit card in order to get 6% back on Amazon, Lowe's and 3% on utility bills. I expected to at least get a 3k SL, since I already had a Chase Freedom Ultd with 12k, Cap1 QS with 10k and two BofA cards with 7k each. My scores were in the 700-710 range, 26% util and 3 INQs in 24 mo. Total CL of 68.5k across all cards on a 6 figure income. AAoA 4yr4mo, oldest 8yr2mo. 99.8% on time payments, no BK, no collections.

I submitted the application and it showed the loading screen for like 4-5 minutes, lol. Then it said I was approved but with only a 500 limit.

Is U.S. bank this conservative when it comes to new customers? It's worth noting I live thousands of miles away from any of their branches and have no personal or family history with them. A 500 SL seems to be way too low. I can't even pay an electric bill with it, even if I repay it in full immediately.

Is it worth asking for an increase in 1-2 months or do they tend to provide auto increases? By then, I can get my util down to 15% which should bump my scores to 730+. How tough is U.S. Bank with user-requested CLIs?

What manner should I pay this card in order to have the best chance of auto CLIs? I don't know if I should pay the next day after I make any charges, or pay right after the closing date, or even keep a small balance on it after the due date. What behavior does U.S. Bank favor?

sznthescore · ‎10-03-2023

AI approvals yes. I would ask for reconsideration to have an actual human look at your report so they can see you deserve a higher SL. I've heard that reconsiderations could possibly result in an additional HP, not sure on the actual verdict regarding that though...

REBUILDER CARDS

Goal: FICO 700+

coldfusion · ‎10-03-2023

@sznthescore wrote:
AI approvals yes. I would ask for reconsideration to have an actual human look at your report so they can see you deserve a higher SL. I've heard that reconsiderations could possibly result in an additional HP, not sure on the actual verdict regarding that though...

That's correct, there have been members here who experienced it firsthand (and got an increase).

US Bank is pretty notorious for issuing Visa Signatures with $500 starting limits, if you search the site you'll find a number of data points over the last several years of $500 Cash+ Visa Signature approvals as an example.

(2/2025)
FICO 8 (EX) 850 (TU) 850 (EQ) 850
FICO 9 (EX) 850 (TU) 850 (EQ) 850

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion

mgood · ‎10-03-2023

Yes, they are that conservative and yes, $500 SL is pretty common.

When I was approved for the Cash+, I called to ask if the limit could be reconsidered and was told it would be another HP. I decided to wait 6 months. It still took a HP, but I got a 5x increase, from $2k to $10k.

$18,000 Chase Sapphire Preferred Visa Signature 01/23

$17,000 Chase Freedom Flex World Elite Mastercard 05/21

$12,000 Chase Prime Rewards Visa Signature 05/23

$17,500 PenFed Power Cash Rewards Visa Signature 01/21

$15,000 PenFed Platinum Rewards Visa Signature 01/21

$17,400 Citi Custom Cash World Elite Mastercard 07/22

$9,900 Citi Rewards+ World Mastercard 11/24

$27,000 American Express Blue Cash Preferred 04/24

$25,000 FNBO Evergreen Rewards Visa Signature 01/22

$22,000 Wells Fargo Autograph Visa Signature 10/21

$10,000 US Bank Cash+ Visa Signature 03/23

$7,000 US Bank Cash+ Visa Signature 12/23

$5,850 Capital One Savor World Elite Mastercard 11/15

$4,300 Capital One Cabela's World Mastercard 10/15

$8,500 Imprint Eddie Bauer World Mastercard 11/24

EQ8 760, TU8 757, EX8 769 as of April 29

AZE11 - 6% Utl - New Cards: 2/6, 2/12, 6/24

Hammer · ‎10-03-2023

What I've gathered so far is I should just keep using the card and paying it off, then if there's still no auto bump in 6 months, I should ask for a CLI. Is that the best plan?

cashorcharge · ‎10-04-2023

WooHoo!! Congratulations on your Approval!!👏🏼🍾🥂

KingRue8500 · ‎10-04-2023

Congrats on your U.S. Bank Shopper Rewards approval

BigBS · ‎10-05-2023

May not feel like much, but the CL can grow! Congrats!

Score: EQ(809) EX(819) TU(800)
INQs: EQ(7) EX(16) TU(8)
Last INQ: 13 Jul 23

Total Credit Limit - $2.0M

Invest4Rest · ‎10-05-2023

Congrats!! 🚀🚀🚀 Flip side of the $500 SL you got your foot in the door. 🎉🎉

TheRedHat · ‎10-06-2023

Congrats on your approval!

Question: How many new accounts (credit cards, to be specific) have you opened in the past 12 months?

Last update: 5/10/2024

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First card with U.S. Bank: only approved for a 500 SL

First card with U.S. Bank: only approved for a 500 SL

Re: First card with U.S. Bank: only approved for a 500 SL

Re: First card with U.S. Bank: only approved for a 500 SL

Re: First card with U.S. Bank: only approved for a 500 SL

Re: First card with U.S. Bank: only approved for a 500 SL

Re: First card with U.S. Bank: only approved for a 500 SL

Re: First card with U.S. Bank: only approved for a 500 SL

Re: First card with U.S. Bank: only approved for a 500 SL

Re: First card with U.S. Bank: only approved for a 500 SL

Re: First card with U.S. Bank: only approved for a 500 SL

First card with U.S. Bank: only approved for a 500 SL

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First card with U.S. Bank: only approved for a 500 SL

Re: First card with U.S. Bank: only approved for a 500 SL

Re: First card with U.S. Bank: only approved for a 500 SL

Re: First card with U.S. Bank: only approved for a 500 SL

Re: First card with U.S. Bank: only approved for a 500 SL

Re: First card with U.S. Bank: only approved for a 500 SL

Re: First card with U.S. Bank: only approved for a 500 SL

Re: First card with U.S. Bank: only approved for a 500 SL

Re: First card with U.S. Bank: only approved for a 500 SL

Re: First card with U.S. Bank: only approved for a 500 SL

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