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US Bank Unsecured Graduation and Visa Cash + !!!!

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Valued Contributor

Re: US Bank Unsecured Graduation and Visa Cash + !!!!

Cli requests are 6 months time frame since your last increase, I have always received auto cli at about 9 months on all my US bank cards.
Scores hover around 800
Haven't been AZEO in over a year
Rome was not built in a day, neither is a good credit profile
Message 11 of 27
Valued Contributor

Re: US Bank Unsecured Graduation and Visa Cash + !!!!

Congrats! Well deserved, you definitely earned it. I have a feeling this might be the beginning of a great relationship between you and US Bank.

Message 12 of 27
Valued Contributor

Re: US Bank Unsecured Graduation and Visa Cash + !!!!

They have 2 lines of credit. One is the reserve line. It's basically a higher APR than the Premier line and intended to be used for Overfraft Protection. You can just transfer money from it into your Checking or savings or if you do overdraw your account it will automatically do it In increments of $100.
It has limits of $1k-$5k max

The Premier line is a way better product. It's Prome plus 7% variable, comes with a CC and checks to access the funds, and also can be used as ODP if you don't have the reserve line. It also has limits of $5k-$15k max.

I have both only really because I got the Reserve line first. I was preapproced when opening one of my accounts. I have it set up as ODP on all my Checking and Savings accounts.

Then I was preapproced for the Premier line and got $15k -haven't used it much but it is a nice product to have. Thought about closing the Reserve line but it is a free $5k TL that really doesn't need to be used every so often so it just sits there. Smiley Happy

If you do to usbank.com and click on Loans and Lines or something to that effect both are outlined. You most likely will get a preapproced offer for one or both soon enough but you can always call the financial center and ask if they can use your credit pull from the Visa to approve you for one. I have done that before and they did it.

Hope that answered your question. Congrats again.
FICO 09 TU= 787 (Aug) EQ= 774 (Aug) EX= 801 (Aug) Favorites: Citi DC, AMEX Gold and U.S. Bank Cash+
Message 13 of 27
Regular Contributor

Re: US Bank Unsecured Graduation and Visa Cash + !!!!


@steel_string wrote:
US Bank won't show the limit for Cash+. It'll only be on paper communications and your credit report.

I found this annoying and tweeted their customer support handle. According to their twitter, it is because it doesn't have a hard limit (you can go over without an issue). Not sure how true that is. I only have a 1K limit on the Cash+ while all my other cards have 5K+ (except Chase because I don't want a HP for a CLI).

Message 14 of 27
Regular Contributor

Re: US Bank Unsecured Graduation and Visa Cash + !!!!


@wired765 wrote:

I was discouraged when no one responded to my post asking for info about graduating a US Bank Secured card...so I decided to take the plunge myself.  With the card about 23 months old, TransUnion FICO score 692, $500 limit, I requested the upgrade on a Friday.  Monday, I saw a hard pull on TransUnion, and on Tuesday in my US Bank App, there was a red banner at the top saying "This Account is inactive or has been closed, it will be removed from the system shortly".  Sure enough, the new card showed up in the app a day or two later, and the following week, I got the Visa Platinum card and a check for $500.  It went WAY easier than I thought it would!

 

I had been reading on here about US Bank being difficult to get approved with, and how conservative they were, etc., but that it pays to have a relationship with them.  So, I decided to open up the Gold checking account (free, since I already have a credit card) with a $25 deposit.  During the account opening process, a popup appeared that said "You are prequalified for a US Bank Credit Card, Choose the Card that's right for you", with check boxes beside either the Cash+ credit card or the Cash 365 American Express card, with a $1500 limit for either one, and the statement "Accept this offer".  I was so excited (and the checkboxes beside each card were the round radio buttons, which implied either/or) that I didn't see whether or not I could get BOTH, and I didn't really want the American Express card anyway.

 

I got another hard pull on TransUnion.  Within a day, the new credit card showed up in the app (along with the checking account and check debit card), and the credit card came yesterday...$1500 limit as they said.   

 

One weird thing: even though I've activated the card and picked my categories (for me, it was fitness and cell phones, so I can always get 5% off my gym membership and cell phone bill), the credit limit doesn't show up in the app yet.  Any experience with this, anyone?

 

So far so good with US Bank.  I'm thrilled to have been approved for a card after all the things I've read about them being so conservative.  Thought I'd share my joy with the world.  :-)

 

Thanks for the advice that I DID find (about setting up the checking account, etc.)...can't remember the handles but it was on here.  :-) @ @Djgrolyos   If you read this, it was your posts that helped the most!  :-) 


I can't believe they hard pulled you for a PC. But congrats.

Message 15 of 27
New Contributor

Re: US Bank Unsecured Graduation and Visa Cash + !!!!


@Djgrolyos wrote:
They have 2 lines of credit. One is the reserve line. It's basically a higher APR than the Premier line and intended to be used for Overfraft Protection. You can just transfer money from it into your Checking or savings or if you do overdraw your account it will automatically do it In increments of $100.
It has limits of $1k-$5k max

The Premier line is a way better product. It's Prome plus 7% variable, comes with a CC and checks to access the funds, and also can be used as ODP if you don't have the reserve line. It also has limits of $5k-$15k max.

I have both only really because I got the Reserve line first. I was preapproced when opening one of my accounts. I have it set up as ODP on all my Checking and Savings accounts.

Then I was preapproced for the Premier line and got $15k -haven't used it much but it is a nice product to have. Thought about closing the Reserve line but it is a free $5k TL that really doesn't need to be used every so often so it just sits there. Smiley Happy

If you do to usbank.com and click on Loans and Lines or something to that effect both are outlined. You most likely will get a preapproced offer for one or both soon enough but you can always call the financial center and ask if they can use your credit pull from the Visa to approve you for one. I have done that before and they did it.

Hope that answered your question. Congrats again.

THANK YOU for the info!  How long did it take to get the preapprovals?  Plus, what do you think my chances for the Premier would be with a 692 TU? (My Equifax and Experian are both 759 since neither has the collection account on it, but US Bank pulled TransUnion for the Visa so I'm stuck with that)  When you got the preapproval and accepted the offer, did they STILL hard pull TransUnion?

 

Also, any advice for credit limits?  I've heard that $1500 or less is a soft pull and > $1500 is a hard pull.  Any truth to that or have you tried it?  Plus, does that mean you request $1499 or is *$1500* the actual cutoff for soft pulls?

Message 16 of 27
New Contributor

Re: US Bank Unsecured Graduation and Visa Cash + !!!!


@culinarykid92 wrote:

@wired765 wrote:

I was discouraged when no one responded to my post asking for info about graduating a US Bank Secured card...so I decided to take the plunge myself.  With the card about 23 months old, TransUnion FICO score 692, $500 limit, I requested the upgrade on a Friday.  Monday, I saw a hard pull on TransUnion, and on Tuesday in my US Bank App, there was a red banner at the top saying "This Account is inactive or has been closed, it will be removed from the system shortly".  Sure enough, the new card showed up in the app a day or two later, and the following week, I got the Visa Platinum card and a check for $500.  It went WAY easier than I thought it would!

 

I had been reading on here about US Bank being difficult to get approved with, and how conservative they were, etc., but that it pays to have a relationship with them.  So, I decided to open up the Gold checking account (free, since I already have a credit card) with a $25 deposit.  During the account opening process, a popup appeared that said "You are prequalified for a US Bank Credit Card, Choose the Card that's right for you", with check boxes beside either the Cash+ credit card or the Cash 365 American Express card, with a $1500 limit for either one, and the statement "Accept this offer".  I was so excited (and the checkboxes beside each card were the round radio buttons, which implied either/or) that I didn't see whether or not I could get BOTH, and I didn't really want the American Express card anyway.

 

I got another hard pull on TransUnion.  Within a day, the new credit card showed up in the app (along with the checking account and check debit card), and the credit card came yesterday...$1500 limit as they said.   

 

One weird thing: even though I've activated the card and picked my categories (for me, it was fitness and cell phones, so I can always get 5% off my gym membership and cell phone bill), the credit limit doesn't show up in the app yet.  Any experience with this, anyone?

 

So far so good with US Bank.  I'm thrilled to have been approved for a card after all the things I've read about them being so conservative.  Thought I'd share my joy with the world.  :-)

 

Thanks for the advice that I DID find (about setting up the checking account, etc.)...can't remember the handles but it was on here.  :-) @ @Djgrolyos   If you read this, it was your posts that helped the most!  :-) 


I can't believe they hard pulled you for a PC. But congrats.


I was so ecstatic to get my money back...I can forgive them.  :-)  Same with the Visa+...another hard pull seemed worth it to get a card from such a difficult-to-get-approved-with bank...and I actually wanted the card so I went for it.  No biggie.

Message 17 of 27
Moderator Emeritus

Re: US Bank Unsecured Graduation and Visa Cash + !!!!


@wired765 wrote:

@Dinosaur wrote:

@steel_string wrote:
US Bank won't show the limit for Cash+. It'll only be on paper communications and your credit report.

Or ... you can call the telephone number on the back of your US Bank Cash+ Visa and work the prompts (you will get the phone computer voice) to find out your credit. They don't tell you about this option but it works if you need to know.


That's bizarre.  Even more so because the credit limit shows up in the app for the Visa Platinum, the most benign card ever.  Lol. Thanks for the info.


wired765 you offer good insight. The credit limits that don't show on the website are those that are part of the US Bank Cards that have the "Flexible Spending" (generally Visa Signatures) Option and it is titled "Revolving Line of Credit". The other US Bank Cards have a title "Credit Line" and actually show.

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Message 18 of 27
Valued Contributor

Re: US Bank Unsecured Graduation and Visa Cash + !!!!

@wired.... thx. Happy i could help.
My preapprocals came after my first statement.
With a 692.... I would wait till at least 700 and no baddies to cold app for the Premier Line.
If you want Call the financial center and ask if they can use your hard pulls from this week and see if they can approve you for the Reserve line or the Premier Line. I got my Reserve first and then the Premier. I just keep the Reserve as my ODP on my Checking accounts. It's easier to get approved for as well... so I would ask for the Premier and tell them if they can't approve you for that what about the Reserve line (and tell them if is for ODP)

GL if you do. I have always had great luck with them and also found them very helpful and easy to work with. I would skip over the CS line and call the Financial Center if you do.

Again..: congrats on all your approvals and enjoy USBank. They aren't a fav of many on here but for me they are my fav Bank for sure and only Discover tops them for their CC. I've been very happy with them.

FICO 09 TU= 787 (Aug) EQ= 774 (Aug) EX= 801 (Aug) Favorites: Citi DC, AMEX Gold and U.S. Bank Cash+
Message 19 of 27
New Contributor

Re: US Bank Unsecured Graduation and Visa Cash + !!!!


@Djgrolyos wrote:
@wired.... thx. Happy i could help.
My preapprocals came after my first statement.
With a 692.... I would wait till at least 700 and no baddies to cold app for the Premier Line.
If you want Call the financial center and ask if they can use your hard pulls from this week and see if they can approve you for the Reserve line or the Premier Line. I got my Reserve first and then the Premier. I just keep the Reserve as my ODP on my Checking accounts. It's easier to get approved for as well... so I would ask for the Premier and tell them if they can't approve you for that what about the Reserve line (and tell them if is for ODP)

GL if you do. I have always had great luck with them and also found them very helpful and easy to work with. I would skip over the CS line and call the Financial Center if you do.

Again..: congrats on all your approvals and enjoy USBank. They aren't a fav of many on here but for me they are my fav Bank for sure and only Discover tops them for their CC. I've been very happy with them.


What is the financial center? I.E. what phone number?  The only number I know about is the number on the back of the card, 800-285-8585.

 

Hmmm.  Once I know what number is best, I may just do that just to see what happens.  I'm not wanting to rock the boat too much though...I'm still amazed that all this came about.  I definitely will watch for the preapprovals (I'm assuming you mean the infamous red banners that magically appear when you log in through a web browser...?)  :-)  And, once my TU report completely clears in July, I'll see what else I can shake loose from them if they don't give it up before then.  :-)

Message 20 of 27
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