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

[JNA1]

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@Ficoproblems247 wrote:

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@JNA1 wrote:

Look at what I got today!🤔

I'm not falling for "You've Been Invited to Apply" yet though!😂

11353CA5-B6B2-4875-9BAA-79D446E95D28.jpeg

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Aren't you about to be 2/12? Let us all know how it goes when you submit your app! 

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I'm getting close! 😂

[FormerCollegeDJ]

Really late to the game here, but I wanted to add three more banks that offer the Elan Max Cash Preferred card, one that I had a banking relationship when I was in graduate school 20+ years ago, the other two in the area where I live:

*EagleBank (based in DC area in Bethesda, MD), 21 branches in MD, VA, and DC, about $10.1 billion in assets - offers Visa version

*Sandy Spring Bank (based in DC area in Olney, MD), 61 branches in MD, VA, and DC, about $12.7 billion in assets - offers Mastercard version

*S&T Bank (based in Indiana, PA), 76 branches in PA and OH, about $9.2 billion in assets - offers Visa version

Incidentally, and some of you probably already know this, but you can check banks around the country by assets, branches, and location (with maps in the last case) at the USBankLocations website shown below.  (This is NOT a website for the bank named "U.S. Bank"; it is a website containing a wealth of information about all banks located in the U.S.)  Using the mapping and/or banks by state tool can help you identify nearby banks and then identify if they offer credit cards through Elan Financial Services by going to their websites shown in their respective profiles.

https://www.usbanklocations.com

[KJinNC]

I don't think I'm in shape right now to open a US Bank or even Elan card (5/12), but am wondering about this for a bit later this year. I am 3/12 on April 1, 1/12 on May 1, and 0/12 on June 1 if I don't open any cards between now and then. If loans count, add one to all numbers. The loan is 12 months old in August.

I am in North Carolina. My questions are:

1 - Are there better Elan Max Cash options in North Carolina than this one?

https://www.atlanticunionbank.com/personal/credit-cards

It is the only one I see on Aim High's list that specifically mentions North Carolina. But not sure if they are all really geo-fenced. The Atlantic Union Bank page about their card does not mention that you need to be a member of the bank to open a credit card. Does that sound right, or do they just assume you know you have to be a member to get a card?

2 - Is there a reason to go with Elan instead of US Bank? Is it actually less - dare I say "conservative" or is that a dirty word lately - than US Bank? Seems they are both picky about accounts in the last 12 months. On the other hand, is there any advantage in going with US Bank over Elan?

Thanks for the thread!

[FormerCollegeDJ]

KJinNC - one site I recommend going to see what banks in your area may offer the Elan Max Cash card is the US Bank Locations website.  You can bring up a map of all banks and click on individual banks to see information about the bank branch, including its website.  You can also look at the most common banks by state and look at information for those banks, which again includes their website.

https://www.usbanklocations.com/

[FormerCollegeDJ]

EDIT: This is a near double post of a comment I provided a few posts up; for some reason both that comment and this one were temporarily removed from the thread and then put back on a few hours ago.  My apologies on the double post (and accidental possible violation or skirting of the rules of the forum with the temporary removal).

I'm late to the game here, but I've found this thread very interesting and informative.  I wanted to mention three more banks, two of which are in the area where I live and one of which was one of the banks I used when I was in graduate school 20+ years ago, that use Elan Financial Services to manage their credit cards.  All three of these banks are among the 200 largest banks in the U.S. in terms of total assets:

*EagleBank (based in the DC area in Bethesda, MD), 21 branches in MD, VA, and DC, $10.1 billion in assets - offers Max Cash Preferred Visa Card

*Sandy Spring Bank (based in the DC area in Olney, MD), 61 branches in MD, VA, and DC, $12.7 billion in assets - offers Max Cash Preferred Mastercard

*S&T Bank (based in Indiana, PA), 76 branches in PA and OH, $9.2 billion in assets - offers Max Cash Preferred Visa Card

The branch number and total assets information (as of 9/30/20) was taken from the USBankLocations website, which as I noted in the post response to KJinNC above provides national bank maps and bank lists by state that people can use to identify banks in their area.  I provided the total bank branch and asset information to provide context about the size of the banks; there was some discussion earlier in the thread about the size of the banks and potential credit limits with the cards if an applicant is approved.

[_bobby_lee]

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@KJinNC wrote:

I don't think I'm in shape right now to open a US Bank or even Elan card (5/12), but am wondering about this for a bit later this year. I am 3/12 on April 1, 1/12 on May 1, and 0/12 on June 1 if I don't open any cards between now and then. If loans count, add one to all numbers. The loan is 12 months old in August.

I am in North Carolina. My questions are:

1 - Are there better Elan Max Cash options in North Carolina than this one?

https://www.atlanticunionbank.com/personal/credit-cards

It is the only one I see on Aim High's list that specifically mentions North Carolina. But not sure if they are all really geo-fenced. The Atlantic Union Bank page about their card does not mention that you need to be a member of the bank to open a credit card. Does that sound right, or do they just assume you know you have to be a member to get a card?

2 - Is there a reason to go with Elan instead of US Bank? Is it actually less - dare I say "conservative" or is that a dirty word lately - than US Bank? Seems they are both picky about accounts in the last 12 months. On the other hand, is there any advantage in going with US Bank over Elan?

Thanks for the thread!

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@KJinNC  I am also in NC, and have been doing a bit of searching to find the closest CU or small local bank that has this card, and so far I've been able to find this one:

Carter Bank & Trust - thier credit card page takes you to a pretty basic (I'm guessing Elan created/supported) card landing page, where there is a Max Rewards card listed. I'm thinking about going for this one as I am just a few miles from this bank, so I may get bonus points on the geography, even though others seem to have gotten approved through CUs in different states and regions so there is not data supporting it being an important factor. Still would be nice to be able to drop into a branch if you need to, I suppose. Good luck!

https://creditcardlearnmore.com/11t3/index?ecdma-lc=29494&ecid=OTHE_25940

[KJinNC]

Thanks - there is a branch about 35 miles/45 minutes from my house. I'd probably never actually go there unless there was a special reason to do so, but it might give me brownie points in terms of geofencing, as you mentioned. I don't really want to open another bank account if I don't need to, which might take away from the brownie points aspect, though

[Aim_High]

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@KJinNC wrote:

I don't think I'm in shape right now to open a US Bank or even Elan card (5/12), but am wondering about this for a bit later this year. I am 3/12 on April 1, 1/12 on May 1, and 0/12 on June 1 if I don't open any cards between now and then. If loans count, add one to all numbers. The loan is 12 months old in August.

I am in North Carolina. My questions are:

1 - Are there better Elan Max Cash options in North Carolina than this one?

https://www.atlanticunionbank.com/personal/credit-cards

It is the only one I see on Aim High's list that specifically mentions North Carolina. But not sure if they are all really geo-fenced ...

2 - Is there a reason to go with Elan instead of US Bank? ... 

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@KJinNC, glad you've enjoyed the thread and we continue to note data points about it. I only did the original posting to get the ball rolling and let the community take over contributing their experiences.   Your questions are related to two theories I had that I hoped our collective experiences would either prove or disprove: that being a banking client might be helpful or even necessary for approval and that it might be easier to be approved for an Elan card that Cash+.  The reason I tried to list lenders in most states was in case the card might be strictly geofenced, in case members preferred to deal with a local lender with whom they might already have deppsit accounts, and to show it potentially had a nation-wide audience.  As we've gotten further along, geofencing on the Elan cards appears to be almost nonexistent, so apply with the lender of your choice.  The only advantage to having deposit accounts associated with the card may be having the flexibility to deposit rewards instead of just getting account credits.  As for whether the card has easier underwriting, that is still to be determined. In an earlier message up thread, I mentioned some Elan Fidelity Visa approvals which I thought indicated that might be possible.  Other members disagreed and since we don't have a scientific sampling on My Fico, data points we collect may or may not be accurate as a whole.  There are also messages upthread comparing the rewards programs between Max Cash and Cash+.  While they aren't identical, they are similar but that might make a difference to some. Last time I checked, the SUB on Cash Plus was a little higher than Max Cash. 

[Anonymous]

Thanks to @Aim_High for bringing this card (or rather cards!) to our attention.   It does raise the question of what else might be hiding out there, i.e. are the other versions of your favorite card, whatever that is, available somewhere!   I guess the US Bank/Elan relationship, and the Elan servicing of multiple FIs might be fairly unique, but.....

[KJinNC]

Not quite the same situation, but I was interested to learn that Coastal, where I have banked since 1987, has the same underwriter as AOD. I emailed them to suggest they clone the 3% card. They replied politely but with no real reason to think they will do it. But I wonder how many credit unions use that same underwriter, and could clone the card very easily. Getting a bit off topic.

Back to the Elan card, it sounds like they may focus more on the past 6 months rather than treating the past 12 months equally. I'm in good shape in the past 6 months. But will wait a while anyway. Thinking how I'd use one of these cards, it's only worth around $10/month to me, so better to wait a few extra months for better odds of approval and maybe a higher starting limit. For my purposes, the Elan card actually sounds better, because it combines gyms and sporting goods into one category. Ultimately, maybe I'll get both.

Is there a url to apply for an Elan-branded card? I saw somebody mention that if you apply for a geofenced card and you are outside the geo, you get directed to apply to the Elan version, but I can't find one that does this. I don't mind a random bank name on the card if needed, but since I have no intention of banking with them, I'd just as soon it said "Elan" if that is an option.

Thanks again for the thread!