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I was recently approved for a US Bank CC and I was so pleased with the limit I got the app itch and tried for another, but even with a 771 I got declined. So I called to ask for a recon and was told the decision was made by Advanced Resolution Services and I should speak with them. I called them and they said they don't make approval or denial decisions so they can't recon. All they can do is send me a copy of their report so I can check it for accuracy after I send in a long list of required documents.
What gives? If they don't make the decision, can I just try US Bank again? This seems ridiculous. But I don't want to waste a hard inquiry, especially when I know I meet their actual guidelines for approval.
a 771 score doesn't mean you'l get approved for everything, remember people can still buy Fico scores =p
there's a lot of factors but US bank does NOT like new customers getting their flagship accounts just to reel in the benefits. I would try to build a relationship with them first before applying for a while before, seems like the only way they'll approve you.
I don't know much about Advanced Resolution Services, but from my limited understanding they are somewhat like Chexsystems. So they do not make decisions, they just provide information about you to US Bank, like all of the other credit bureaus.
So I'd say you need to call US Bank back and recon with them. US Bank made the decision.
Thanks for your responses.
I know the score isn't the only factor. I've been on an app spree recently because my file was too thin (just student loans), but now they don't like all the inquiries.
Anyway, I called US Bank again. They said they'll put it back in processing and there "shouldn't be a problem." Hopefully I'll get this and go into garden mode.
Credit score is not everything. People seems to think you can get approved with anything if you have a high credit score. People are too in love with credit score.
Advanced Resolution Services is a minor credit bureau, like Innovis and Teletrack. They provide information to US Bank, not decision maker. Usually stuff like payday loan shows up on these minor credit report. Obtain a report on Advanced Resolution Services to check its accuracy, then call US Bank for reconsideration.
@thelizardking69k wrote:Thanks for your responses.
I know the score isn't the only factor. I've been on an app spree recently because my file was too thin (just student loans), but now they don't like all the inquiries.
Anyway, I called US Bank again. They said they'll put it back in processing and there "shouldn't be a problem." Hopefully I'll get this and go into garden mode.
Are they gonna do another pull?
They're not doing another pull.
Like I said, I know the score isn't the only factor to consider. My point was they just approved me, and nothing has changed, except that my utility is even lower.
I called about getting a copy of the ARS report. It's just a pain in the butt. My driver's license doesn't have my current address, so I'll need to send a utility bill. So I go to get a utility bill and see they've misspelled my last name (Hernandez rather than Fernandez, which happens constantly, which I alerted them to when I moved here and set up the accounts in the first place). Try to get started on my letter requesting the report in the meantime, and I have no ink. Just one of those days.
FYI - ARS is one of the CRAs that tracks applications. If you have multiple INQ's for CC's on your reports, it keeps track of these (even if they may no longer appear on your reports) Creditors mainly use ARS to score risk of fraud. That is one reason ARS tracks applications from addresses not just individuals.
According to info from another forum, certain credit profiles/behavior MAY be frowned upon by US Bank for premium products, such as: 1) you have more than 10 open major credit cards (Visa, MC, AMEX) 2) you have more available credit than your annual HHI; 3) you have applied for more than 4 Visa/MC products in the past 13 months; 4) you have more than 5 high limit (15k +) credit cards; 5) you have more than 5 accounts under 24 months of age.
From my understanding, some of these things (which are tracked by ARS, and sold as a risk-management report to CCC's) reflect a PROFILE that COULD cause a denial, regardless of credit score. People on another forum reported getting denied with 790+ scores, due to ARS reports.
After my last conversation with US Bank I was told there shouldn't be an issue, and now I've been denied again citing the same reason as before. This is really obnoxious. I can be trusted with a high limit one month and nothing the next. The approval shouldn't be an issue on Friday, and by Monday it's a denial again. I can' t keep up with these people.
I was invited to reapply in six months. Not sure I'm interested anymore.