First Major Cut From The Roster.

[CreditMagic7]

US Bank has been officially dismissed. After (5+) years from a SL of $2K (preapproval) and high hopes of better expectations from them, the limit just couldn't support anymore attention for spend. The APR they refused to bend on too.

You would think that after 5! full years of regular (and i do mean routine) usage their organization that manages card products would have offered something just a little more encouraging to help push spend or retain a long time customer but people it was a cut & dried process.

They never even tried to retain this customer. Mind you, maybe i wouldn't have either. It's not like i was an interest paying machine for them plus with only a $4.5K limit after 5 years there was precious little room to work usage on this card anyway.

Besides that, as they sat back in the shadows with their over-conservative policy, ALL OTHER competitors completely blew past them like they were standing still (which they have been doing for a long time).

It's also very possible that they are what's known as a traditional relationship bank and that's just the way that they roll, so it's ok. Their purse, not mine. LoL

Anyway just wanted to lay down some facts from my experience with them on a single card of theirs for 5 years.

Last year i passed on the Kroger 1-2-3 preapproval but actually did a PC on another preapproval (FlexPerk) just to save from wasting the HP and that went ok too. Cash+ never really won my attention either in spite of the categorys.

By far and away though the best positive from making this move is that FNBO, a great financial institution IMHO (especially the card division) in spite of being strict, has it's own popular following here in the forums so they were selected as the replacement. Yes this forum feeds into my card decisions immensely.

The next step is to systematically scan up and down from the current spectrum (or cc list if you will) and carefully weigh the returns and make tactical comparisons so that the next major release from the roster becomes an avenue for better newcomers too!

Thanks for reading and enjoy the rest of your week.

Be sure to always make your own card decisions in the absolute best interest for you and your family.

[sillykitty1]

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@CreditMagic7 wrote:

US Bank has been officially dismissed. After (5+) years from a SL of $2K (preapproval) and high hopes of better expectations from them, the limit just couldn't support anymore attention for spend. The APR they refused to bend on too.

You would think that after 5! full years of regular (and i do mean routine) usage their organization that manages card products would have offered something just a little more encouraging to help push spend or retain a long time customer but people it was a cut & dried process.

They never even tried to retain this customer. Mind you, maybe i wouldn't have either. It's not like i was an interest paying machine for them plus with only a $4.5K limit after 5 years there was precious little room to work usage on this card anyway.

Besides that, as they sat back in the shadows with their over-conservative policy, ALL OTHER competitors completely blew past them like they were standing still (which they have been doing for a long time).

It's also very possible that they are what's known as a traditional relationship bank and that's just the way that they roll, so it's ok. Their purse, not mine. LoL

Anyway just wanted to lay down some facts from my experience with them on a single card of theirs for 5 years.

Last year i passed on the Kroger 1-2-3 preapproval but actually did a PC on another preapproval (FlexPerk) just to save from wasting the HP and that went ok too. Cash+ never really won my attention either in spite of the categorys.

By far and away though the best positive from making this move is that FNBO, a great financial institution IMHO (especially the card division) in spite of being strict, has it's own popular following here in the forums so they were selected as the replacement. Yes this forum feeds into my card decisions immensely.

The next step is to systematically scan up and down from the current spectrum (or cc list if you will) and carefully weigh the returns and make tactical comparisons so that the next major release from the roster becomes an avenue for better newcomers too!

Thanks for reading and enjoy the rest of your week.

Be sure to always make your own card decisions in the absolute best interest for you and your family.

---

One thing you don't address is if the benefits of your US Bank card were rewarding for your spend pattern. If they were, then I don't understand eliminating a card just because of a low CL.  If they weren't then, you did the right thing.  

As long as a CL is usable, (i.e. not $500), then for me the only criteria I use is if the card benefits me.  For instance my JCB is only at $4K, and gets heavy use, even though I have CL's over $30K on other cards.

[AverageJoesCredit]

Here here Cm7, thanks for sharing and im glad you made the decision that feels best for YOU. As always, a true pleasure to read of your credit adventures. NEXT......

[CreditMagic7]

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@sillykitty1 wrote:

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@CreditMagic7 wrote:

US Bank has been officially dismissed. After (5+) years from a SL of $2K (preapproval) and high hopes of better expectations from them, the limit just couldn't support anymore attention for spend. The APR they refused to bend on too.

You would think that after 5! full years of regular (and i do mean routine) usage their organization that manages card products would have offered something just a little more encouraging to help push spend or retain a long time customer but people it was a cut & dried process.

They never even tried to retain this customer. Mind you, maybe i wouldn't have either. It's not like i was an interest paying machine for them plus with only a $4.5K limit after 5 years there was precious little room to work usage on this card anyway.

Besides that, as they sat back in the shadows with their over-conservative policy, ALL OTHER competitors completely blew past them like they were standing still (which they have been doing for a long time).

It's also very possible that they are what's known as a traditional relationship bank and that's just the way that they roll, so it's ok. Their purse, not mine. LoL

Anyway just wanted to lay down some facts from my experience with them on a single card of theirs for 5 years.

Last year i passed on the Kroger 1-2-3 preapproval but actually did a PC on another preapproval (FlexPerk) just to save from wasting the HP and that went ok too. Cash+ never really won my attention either in spite of the categorys.

By far and away though the best positive from making this move is that FNBO, a great financial institution IMHO (especially the card division) in spite of being strict, has it's own popular following here in the forums so they were selected as the replacement. Yes this forum feeds into my card decisions immensely.

The next step is to systematically scan up and down from the current spectrum (or cc list if you will) and carefully weigh the returns and make tactical comparisons so that the next major release from the roster becomes an avenue for better newcomers too!

Thanks for reading and enjoy the rest of your week.

Be sure to always make your own card decisions in the absolute best interest for you and your family.

---

One thing you don't address is if the benefits of your US Bank card were rewarding for your spend pattern. If they were, then I don't understand eliminating a card just because of a low CL.  If they weren't then, you did the right thing.  

As long as a CL is usable, (i.e. not $500), then for me the only criteria I use is if the card benefits me.  For instance my JCB is only at $4K, and gets heavy use, even though I have CL's over $30K on other cards.

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It would be more fair to say that the lone US Bank Card (just like Capital One for many others) was my Prime Bank starter card into building a foundation for card progress moving ahead.

The benefits were ordinary as in 1% plain jane and later on FlexPerk, which as i pointed out was merely a PC card in a vain attempt to land Cash+. Which eventually dropped the $5K demand to obtain.

By then it was far too little too late and the only purpose for even holding out as long with it was AAOA and on the outside chance a better card would surface for yet another PC.

It was NOT and never was a matter of any real benefits except for Cash+ which had already been Nerfed.

[NRB525]

Congrats on your decision! Thanks for sharing your experience.

My experience with US Bank is a little more positive, but then that's why we say every file is different.

[Anonymous]

Sorry to hear that you had a bad experience with US Bank!

[B335is]

Good riddance!!! I'm sure they will eventually come asking for you back. I also agree that FNBO is wonderful to work with and their CSRs are both knowledgeable and friendly. Seems like a better place to put that spend.

[CreditMagic7]

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@NRB525 wrote:

Congrats on your decision! Thanks for sharing your experience.

My experience with US Bank is a little more positive, but then that's why we say every file is different.

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Mine too has been only positive in spite of the incredibility limited extension of credit and i have nothing negative to suggest if it was taken that way. They have their reasons plus we seen this before.

Sometimes our very first choice of card lenders choose to be much more reluctant than most and that's the decision that this one ended up being.

[CreditMagic7]

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@Anonymous wrote:
Sorry to hear that you had a bad experience with US Bank!

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Not a bad experience at all.

Just severely limited of growth and i think it was afforded way more than enough time in fairness by comparison.

[CreditMagic7]

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@B335is wrote:
Good riddance!!! I'm sure they will eventually come asking for you back. I also agree that FNBO is wonderful to work with and their CSRs are both knowledgeable and friendly. Seems like a better place to put that spend.

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You bring out one decisive and very worthy note of reality B335is.

By comparison and for comparison's sakes i too "have" found FNBO's customer service above board as well and yes they are a most friendly staff IMHO plus i might add, very thorough in their knowledge of what they do!

By contrast, if any one thing stands out most in the experience with US Bank in those 5 years, it is those repeated posts of others who were early on told that they were approved for the Cash+ (back when it was all the rave) but to their utter shock a plain jane 1% cash rewards was mailed out instead.

Remember those? I also had even called in to be 100% certain and even picked my categories!!! only to have that excitement completely washed out to find it wasn't the Cash+ after all but the alternative card.

It's one thing to be told you don't qualify for Signature Version and quite another to have been told that you "are approved!" for it and even go as far as calling in to confirm this but only to find it wasn't the case at all.

But that's all water under the bridge as we continue to learn to seek out and find the better choices.