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

coldfusion
Community Leader
Super Contributor

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


@JNA1 wrote:

@Aim_High wrote:

@1GaDawg85 wrote:

@JNA1 wrote:

@1GaDawg85 wrote:

I got an alert they pulled EQ down here in GA. So there's that.

I hate EQ pulls also. 


Just out of curiosity, why is that? I ask because I only have 1 EQ pull, so that actually makes me consider trying it. 


Between EQ and EX, those are popular pullers recently compared to TU 


I'd much rather have an EQ pull than EX.  It seems to me that everyone-and-their-brother pulls EX for credit applications and it gets hit unreasonably hard relative to others.  Smiley Sad  My 24-month inquiries are EX: 8, EQ:4, TU: 3.  I live in Texas, so maybe it's a regional thing.


@1GaDawg85 - OK I see. 

Im kinda where @Aim_High  is on that too. I am at 8 on EX, 3 on TU, and 1 on EQ. My AOD card is the only EQ pull I've ever had, except a CU car loan I have (that HP has fallen off now).

 

That said, I understand Alliant, PenFed, and lots of other CU's especially pull EQ. 

I do have 4 HP's falling off in the next few months on EX, so my report won't look so lopsided after that. 

Does US Bank typically pull EQ as well? 


Alliant made a business decision to stop using EQ and transitioned to using TU about a month after the EQ data breach publicly disclosed in 9/2017.

 

USBank defaults to pulling from TU and from SageStream. 



(10/2021)
FICO 8 (EX) 804 (TU) 830 (EQ) 827
FICO 9 (EX) 828 (TU) 841 (EQ) 842

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 91 of 900
Aim_High
Senior Contributor

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


@JNA1 wrote:

@Aim_High wrote:

@1GaDawg85 wrote:

@JNA1 wrote:

@1GaDawg85 wrote:

I got an alert they pulled EQ down here in GA... I hate EQ pulls also. 


Just out of curiosity, why is that? ...


Between EQ and EX, those are popular pullers recently compared to TU 


I'd much rather have an EQ pull than EX.  It seems to me that everyone-and-their-brother pulls EX for credit applications and it gets hit unreasonably hard relative to others.  Smiley Sad  My 24-month inquiries are EX: 8, EQ:4, TU: 3.  I live in Texas, so maybe it's a regional thing.


@1GaDawg85 - OK I see. 

Im kinda where @Aim_High  is on that too. I am at 8 on EX, 3 on TU, and 1 on EQ. My AOD card is the only EQ pull I've ever had, except a CU car loan I have (that HP has fallen off now).

 

That said, I understand Alliant, PenFed, and lots of other CU's especially pull EQ. 

I do have 4 HP's falling off in the next few months on EX, so my report won't look so lopsided after that. 

Does US Bank typically pull EQ as well? 


Similar for me, @JNA1.  Out of my four EQ pulls, one is AOD FCU and the other three are all PenFed, as you mentioned. Smiley Tongue  (One for credit union membership, one for Power Cash Rewards approval, and one for Power Cash Rewards CLI.) 

 

According to @credit_is_crack's matrix for approvals, US Bank normally pulls TU (Fico 09) but sometimes they will pull EQ or EX (Fico 08).  If you're watching inquiries by bureau, this is a great thread to bookmark.

 

https://ficoforums.myfico.com/t5/General-Credit-Topics/The-quot-Which-Banks-Pull-Which-Report-For-Ap...

 



Length of Credit > 35 years; Total Credit Limits > $500K
AoOA > 28 years (Jun 1993); AoYA (Aug 2020); Gardening since 08/15/20.
* Hover cursor over cards to see name & CL, or press & hold on mobile app.
Message 92 of 900
ChargedUp
Valued Contributor

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


@Aim_High wrote:

@JNA1 wrote:

@Aim_High wrote:

@1GaDawg85 wrote:

@JNA1 wrote:

@1GaDawg85 wrote:

I got an alert they pulled EQ down here in GA... I hate EQ pulls also. 


Just out of curiosity, why is that? ...


Between EQ and EX, those are popular pullers recently compared to TU 


I'd much rather have an EQ pull than EX.  It seems to me that everyone-and-their-brother pulls EX for credit applications and it gets hit unreasonably hard relative to others.  Smiley Sad  My 24-month inquiries are EX: 8, EQ:4, TU: 3.  I live in Texas, so maybe it's a regional thing.


@1GaDawg85 - OK I see. 

Im kinda where @Aim_High  is on that too. I am at 8 on EX, 3 on TU, and 1 on EQ. My AOD card is the only EQ pull I've ever had, except a CU car loan I have (that HP has fallen off now).

 

That said, I understand Alliant, PenFed, and lots of other CU's especially pull EQ. 

I do have 4 HP's falling off in the next few months on EX, so my report won't look so lopsided after that. 

Does US Bank typically pull EQ as well? 


Similar for me, @JNA1.  Out of my four EQ pulls, one is AOD FCU and the other three are all PenFed, as you mentioned. Smiley Tongue  (One for credit union membership, one for Power Cash Rewards approval, and one for Power Cash Rewards CLI.) 

 

According to @credit_is_crack's matrix for approvals, US Bank normally pulls TU (Fico 09) but sometimes they will pull EQ or EX (Fico 08).  If you're watching inquiries by bureau, this is a great thread to bookmark.

 

https://ficoforums.myfico.com/t5/General-Credit-Topics/The-quot-Which-Banks-Pull-Which-Report-For-Ap...

 


FWIW, it was an immediate EX HP when I app'ed with Elan in California.

AODFCU 3% Visa ($10K), Amex PRG (NPSL), Amex Blue Cash ($27K), Amex Simply Cash+ ($4K), Amex Business Cash ($22.5K), Discover ($29.7K), Cap 1 Union Plus MC ($2500), Chase FU Visa Sig ($12K), Chase F Visa Sig ($8.3K), Chase CSP Visa Sig($6.5K), FCB/Elan Rewards Visa Sig($15K), Buckle ($1.3K), BofA AAA Rewards ($84.5K), Paypal credit ($10K), BBVA Clearpoints ($7.5K), Cap 1 Savor ($13K), PenFed PCR ($3500), Bank of the West CB MC ($3K), PNC Cash Rewards ($14K), NASAFCU Rewards Visa ($20K), BOC/Elan Max Cash MC ($25K), BoA Business Customized Cash Rewards MC ($8k)
Message 93 of 900
Fitzy13
New Visitor

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

I want to apply for this card so bad. I just got the Fidelity Rewards card 2 weeks ago for $18k and a Citi yesterday for $8k...... must. not. click. submit.... I have filled the entire form out 4 times. Maybe they won't HP since I just got an Elan card?!?!?

Message 94 of 900
FinStar
Moderator

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


@Fitzy13 wrote:

I want to apply for this card so bad. I just got the Fidelity Rewards card 2 weeks ago for $18k and a Citi yesterday for $8k...... must. not. click. submit.... I have filled the entire form out 4 times. Maybe they won't HP since I just got an Elan card?!?!?


ELAN will not repurpose the HP.  It'll be a separate one if you decide to pursue it.  If you would like to be a GP for the sake of science, try it Smiley Happy

Message 95 of 900
Remedios
Moderator

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

Considering number of members who expressed interest in Cash+, I'm surprised by the lack of applications.

 

I'm very curious about this level of hesitance. More people jumped on Starbucks card than this, and Starbucks card is...well, it is. 

Message 96 of 900
JNA1
Valued Contributor

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


@Remedios wrote:

Considering number of members who expressed interest in Cash+, I'm surprised by the lack of applications.

 

I'm very curious about this level of hesitance. More people jumped on Starbucks card than this, and Starbucks card is...well, it is. 


I'm planning on it, but I'm a few weeks away from eligibility for a couple of CLI's, so I'm going to wait for that. 

I'm like you though - I hoped there'd be a wave of apps for me to pull DP's from.😂

So far @1GaDawg85 and @ToxikPH are the only brave ones among us! 😂

Our credit card journey started 3/2018

Hover over cards to see limits and usage.
Total CL - $361,250
Cash Back and SUBs earned as of 10/1/21- $6823.23

CU Memberships

Goal Cards:


Message 97 of 900
FinStar
Moderator

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


@Remedios wrote:

Considering number of members who expressed interest in Cash+, I'm surprised by the lack of applications.

 

I'm very curious about this level of hesitance. More people jumped on Starbucks card than this, and Starbucks card is...well, it is. 


Guilty! 😜🧹😬

Message 98 of 900
Remedios
Moderator

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


@FinStar wrote:

@Remedios wrote:

Considering number of members who expressed interest in Cash+, I'm surprised by the lack of applications.

 

I'm very curious about this level of hesitance. More people jumped on Starbucks card than this, and Starbucks card is...well, it is. 


Guilty! 😜🧹😬


 

 

It's okay, you're allowed one worst greatest hit per calendar year. Any more than that and it's time for...

 

w.gif

Message 99 of 900
Aim_High
Senior Contributor

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


@Remedios wrote:

Considering number of members who expressed interest in Cash+, I'm surprised by the lack of applications.

I'm very curious about this level of hesitance. More people jumped on Starbucks card than this, and Starbucks card is...well, it is. 


I'm a little surprised too.  Smiley Surprised  Many seemed to appreciate that I posted about it, but I thought we'd have more applicants by now. 

 

Maybe part of it is that while it appears Elan may be a little less sensitive to new accounts or inquiries than US Bank, the lack of data points on Elan's underwriting besides the Fidelity creates a huge unknown.  I would apply but I'm pretty sure I'm already well over even Elan's standards at 3/6 and 4/12 new accounts. 

 

Another guess is that other financial priorities are holding people back from impulsive credit applications.  People are refinancing mortgages or rebalancing debt due to loss of income during the pandemic.  Some have seen CLs cut or cards closed during the belt-tightening and are concerned to make new moves.  Others have jumped on other new SUB offers like the AMEX Platinum's 75K-100K MR points among others.   I've seen some flurry of activity on these mostly travel card SUBs, but other than that it seems to me that the forums have been pretty quiet in general on new applications for the past few months compared to last year.

 

There also may be some that want the "original" Cash+ instead of a knock-off.  Plus the original has a slightly higher SUB.  If someone wanted to use Cash+ as a stepping stone to the Altitude Reserve, you can't do that with the Elan cards. 

 

I wasn't going to garden for 0/12 or 1/12 to apply for Cash+, so Cash+ had dropped off my immediate plans.  But now, I may apply for an Elan version within the next 12 months. 



Length of Credit > 35 years; Total Credit Limits > $500K
AoOA > 28 years (Jun 1993); AoYA (Aug 2020); Gardening since 08/15/20.
* Hover cursor over cards to see name & CL, or press & hold on mobile app.
Message 100 of 900
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