Elan "Max Cash" -vs- US Bank Cash+

[1GaDawg85]

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@JNA1 wrote:

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@Aim_High wrote:

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@JNA1 wrote:

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@MrDisco99 wrote:

I took a gamble and did an app through Capital City Bank.  I was denied for USB Cash+ last month.

Denied.  Pulled EQ, same as USB.

New accounts: 3/12, 0/6

EQ inquiries: 4/12

Looks like I'm gonna keep gardeining and go for the Cash+ next spring after all.

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Sorry to hear that! The data so far seems to indicate that maybe Elan is just as conservative as USB. I'll be 2/12 after next week, but I think I'll hold off until June until I'm 1/12 to apply for either. 

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Hmmmm .... perhaps Elan is as conservative.  But on the other hand, you might be our perfect candidate to give us a definitive answer regarding that since you'll be at 2/12?  Is your profile strong otherwise @JNA1 ?  I won't be 2/12 until July but I would consider trying it just out of curiosity if I were in your shoes.   If you were to get approved, at least we'd know.  If you were denied, you could still app again in June.  Just a thought.  

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My scores are in the 770's - 780's but I'm not sure how my profile would be viewed by a conservative lender. The bulk of my cards are relatively new - I've picked up 7 in the last 13 months. As of new week though, I will be 2/12 with only AOD in June and the NFCU in August being the only cards being picked up in 12 months. I'm afraid if I applied in the next few weeks, that I'd get denied because I'll have a card less than 6 months old. I'll be 1/12 in June, and I'll also have 7 HP's fall off in May from a car loan I got in '19. 

I'll be under 5/24 in Nov of next year. My goal is to pick up the Cash + and Freedom Flex next year. 

I'm curious about the relationship with the issuing bank. Did any of you have a prior relationship with the bank you applied with @MrDisco99 @1GaDawg85  or @ToxikPH  ?? 

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I had no prior relationship 

[Anonymous]

I have two Elan cards for the last 5 years- both are operated by Elan but bank under-Flushing Savings Bank out of New York City. One I got Flushing Saving Visa card with SL $9K and another one I got Flushing Saving Signature visa wherein SL was $21k but six months later automatically credit line got increased on both cards from $9k to $19k and from $21k to $31k. I hardly used those cards and if I did use the usage was under $100. But exactly 6 months later, I received a letter in the mail telling me that credit line got increased...Don't know if me banking with Flushing Bank has anything to do it or not but I have been banking with this bank for the last 11 yrs, but heavily but very little lately in the last 2-3 yrs but did used the account a lot. On credit card applications, there was a question if I do have any kind of banking relationship with them. Don't know if this data-point helps, but I thought I should share my experience on the relavent topic.

[Anonymous]

Just to point out that when I applied for these two cards, I was banking with this bank for only 6 years...never have had any big balance but did make a few big deposits here and there...over $10k...and I said that I didn't use this bank as my primary bank. Besides, the application for credit cards didn't ask anything about the deposits or anything related to activities on the bank account except if I have any banking relationship/account with them. That's all.

[Anonymous]

I did get the SUB like receiving $150 for spending $500 in 90 days on both cards. It has tons of good benefits compared to other cards but my favorite one is-  it does provide travel insurance benefit of $1M if something goes wrong. Not many banks provide this much coverage anymore as they used to including Chase being a very big bank. Again, a few lenders provide this much coverage now a days. And since I travel a lot then this much coverage helps being handy. 

[Aim_High]

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@Anonymous wrote:

I did get the SUB like receiving $150 for spending $500 in 90 days on both cards. It has tons of good benefits compared to other cards but my favorite one is-  it does provide travel insurance benefit of $1M if something goes wrong. Not many banks provide this much coverage anymore as they used to including Chase being a very big bank. Again, a few lenders provide this much coverage now a days. And since I travel a lot then this much coverage helps being handy. 

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Chase does still provide that much coverage, @Anonymous.  One reason I like Chase Sapphire Reserve is that it has some of the best travel insurances and protections in the industry, including $1 Million in Accidental Death & Dismemberment Insurance (AD&D.) 

See this thread that compares the travel coverages of Chase Sapphire Reserve to some major competitors:

https://ficoforums.myfico.com/t5/Credit-Cards/CSR-updates-coming-10-5/m-p/6154710#M1748688

[Anonymous]

I have Freedom and Sephire with Chase, and both offer only $500,000 for travel insurance coverage. Reserve has very hefty annual fees. I am already paying so much money for keeping many cards with hefty fees which is not a fun at all...I tell you that...lols

[JNA1]

From looking around at approvals and other threads it seems that US Bank typically pulls TU in my state and Elan pulls EQ. When I get to 1/12 (or maybe even wait another 2 months and get to 0/12) I wonder if it would be possible to get the Cash + and an Elan Max Cash card at the time? That would be huge in maximizing rewards for our spend having 2 cards that capture 4 different selectable 5% categories. The more 5% gaps I could fill would make the quarterly caps less important as well because it would be spreading out the spend. 

If nobody has tried this by the time I get to that point, that would be a HP I'd be willing to risk. I'd go the Cash + first and then the Elan Max Cash right afterwards. 

[Anonymous]

Data point:

Approved for Max Cash card by Elan through one of the banks with branches in my hometown.  

I had opened five personal cards and two business cards in the previous 12 months.  But one personal card in the previous six months.  Per Credit Karma, scores 802 to 813.  

Thanks AimHigh!

[Aim_High]

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@Anonymous wrote:

Data point:   Approved for Max Cash card by Elan through one of the banks with branches in my hometown.  

I had opened five personal cards and two business cards in the previous 12 months.  But one personal card in the previous six months.  Per Credit Karma, scores 802 to 813.     Thanks AimHigh!

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Awesome, congrats on the approval @Anonymous and thanks for sharing your data points!   So 1/6 and 5/12 new personal accounts?  It does sound like Elan may be a little more lenient, depending on other profile considerations, so that may be very promising!   How generous were they with the Starting Limit and which credit bureau did they pull?  

You may be our first My Fico approval for the card, so please do pass along your experiences with it. 

[Anonymous]

Us Bank might be a little more lenient now. Yesterday I posted a thread I got approved for a US Bank Cash + with 3/12---last app April 2020(all 3 done then).