US Bank Cash+

[gdale6]

Love this card, grats on getting it

[BlackOpzFX]

Congrats!! Next month I'll be 12/3 6/0 and hope the 6 month zero lets me slide in. This is the last 5%' card I need.

[Taurus22]

Cheers!  US Bank FTW!

[19eighty5]

Congratulations on your approval!

[Aim_High]

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@Anonymous wrote:

Applied today and was approved! Going to use for the internet 5%, utility 5% and restaurants 2%.

$150 / $500 SUB 

CL $5,000
Rate 13.99%

Pulled TU (FICO 819, 0 inq in last 13 months)
$60K Income
<1% DTI
Not a US Bank customer

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Awesome!  Congrats on the USBank Cash+ @Anonymous! 

I have my eye on this card as well for the utilities cashback. 

Enjoy!

[Meanmchine]

Congrats on your new Cash+ card

Im wondering with an 800+ score and Util 1%ish why they only gave you $5k

If you dont mind what is your AAoA and AoOA

Thanks

[Anonymous]

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@Meanmchine wrote:

Congrats on your new Cash+ card

Im wondering with an 800+ score and Util 1%ish why they only gave you $5k

If you dont mind what is your AAoA and AoOA

Thanks

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Based on what I have read here on MyFico, US Bank is a fairly conservative lender known for low SLs. My oldest account is 25 yrs old (chase freedom) and my AAoA is 8.6 yrs is AoOA is 8.9 yrs. 

[Anonymous]

Interesting stats. I was approved this week as well for 5k.

But... My apr is 16.99%

Income 82k.

Pulled TU 773

Have a savings acct. with them.

And had a mortgage, but it was closed over 10 years ago.

I guess your Fico score trumps my income and relationship as far as apr goes.

[Aim_High]

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@Anonymous wrote:

Interesting stats. I was approved this week as well for 5k.

But... My apr is 16.99%

Income 82k.

Pulled TU 773

Have a savings acct. with them.

And had a mortgage, but it was closed over 10 years ago.

I guess your Fico score trumps my income and relationship as far as apr goes.

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My experience with a high FICO and new lenders is that my high scores have often helped me to get the lowest available APR.  But the SL may not be as high as other people who have a previous banking or credit relationship with that lender.  That's even with very high income and previous high credit limits and a thick file.  For example, as a new Navy FCU banking customer, I got $10K on a NFCU Platinum card (which isn't a bad limit for most new approvals) at the lowest APR of 7.49%.  But some other My Fico members with lower scores and existing relationship with Navy got higher SLs although they may have been offered a higher APR.   (That $10K was one of my lowest limits and I had others up to $70K, average of $30K.  My highest approvals have usually been with banks I already had either banking accounts or credit accounts established and my highest $50 to $70K limits were grown over a long time.)  

Over time, I believe high FICO with high high income and building internal payment history will all lead to a faster increase of credit limits.  But high FICO alone won't always give you as high of a limit as you might expect. 

[Anonymous]

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@Aim_High wrote:

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@Anonymous wrote:

Interesting stats. I was approved this week as well for 5k.

But... My apr is 16.99%

Income 82k.

Pulled TU 773

Have a savings acct. with them.

And had a mortgage, but it was closed over 10 years ago.

I guess your Fico score trumps my income and relationship as far as apr goes.

---

My experience with a high FICO and new lenders is that my high scores have often helped me to get the lowest available APR.  But the SL may not be as high as other people who have a previous banking or credit relationship with that lender.  That's even with very high income and previous high credit limits and a thick file.  For example, as a new Navy FCU banking customer, I got $10K on a NFCU Platinum card (which isn't a bad limit for most new approvals) at the lowest APR of 7.49%.  But some other My Fico members with lower scores and existing relationship with Navy got higher SLs although they may have been offered a higher APR.   (That $10K was one of my lowest limits and I had others up to $70K, average of $30K.  My highest approvals have usually been with banks I already had either banking accounts or credit accounts established and my highest $50 to $70K limits were grown over a long time.)  

Over time, I believe high FICO with high high income and building internal payment history will all lead to a faster increase of credit limits.  But high FICO alone won't always give you as high of a limit as you might expect. 

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I concur. It seems US Bank and NFCU are relationship sensitive.

I walked away quite happy w/ 5K and the lowest APR knowing that US Bank is a relationship lender.