I've been on the rebuild trail since about June 2016 when my credit score was quite abismal. (mid-500s).
I've since been able to raise my scores by deleting some derogs, and getting some secured credit lines (Capital one secured, 2 consecutive Self Lender Accounts.. i also have an older Lendingclub Loan that i've been regular with).
Starting late last year, i applied to some store cards and got approved (Amazon Prime $500, TJMaxx and Old Navy at $220 each).
With regular use and payments, i figured the next step would be to get some CLI's to increase my total available credit. I was approved for all (Amazon to $1200, TJ and Old Navy to $600).
I also figured MAYBE i could apply for a couple unsecured cards... Starting off with some easier ones. Got approved for Credit One with $300 (lol).
A Couple days ago i applied for a US Bank Cash+ Visa Signature.... I Got the "7-10 business days" and figured i got denied.
This morning i received an email saying:
"Congratulations, you have been approved for the U.S. Bank Cash+ Visa Signature(R) Card credit card.
You will receive your account information via U.S. Mail in 7-10 days.
If you requested a balance transfer, you will receive a letter in the mail with information regarding the request.
Please do not reply to this email as we are not able to respond to messages sent to this address.
Thank you and we look forward to serving your credit card needs."
Which brings me to my question: What is US Banks typical Startling Limit with their Cash+ Visa?
How can i find this out without having to wait 7-10 business days for the card. Also, i keep reading that US Bank is pretty stingy with approving applications.
Where i'm at:
What kind of SL should i expect with this card with this profile? I've read everything from $300 to over $5,000.
don't worry about the limit approval was the most important thing with US Bank you are in now Congrats you should open a checking account with them and you will never look back i got 4 products with them that way ... Good luck and Congrats again
So i received the Card... and yup... a $600 Starting Limit.
I called the underwriting number (800)947-1444.
The agent on the other end was strictly business.. How much do you want? What's your income? what's your mortgage?
Told them i wanted $10,000.. mainly for utilization purposes.
She said they'll get back to me in 2-3 days but most likely i'll know by Friday.
The default starting limit is $500.
The person you spoke to in Underwriting Services does not make the final decision. All they do is take the information and put your request in the queue for evaluation by someone else. You should hear back from them by Friday.
Check your online account or call the automated account information line on the back of your card for updates. I was told it would be a few days before they reached a decision, but when I called the following afternoon I heard the magic "$15,000 available." That was before US Bank started showing credit lines for Visa Signature products on their website, so at least that is now an option.