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Transitioning into prime credit from thin but good Credit history need a third.

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Iamien
Established Member
‎06-22-2012 07:24 AM
‎06-22-2012 07:24 AM

Re: Transitioning into prime credit from thin but good Credit history need a third.

I will call during lunch,  If Indeed I was not approved for the Cash+ is there any hope to stop the account from being fully created? Or is the account made by the time it hits the approval system?

733 TU (08/21/2013)
Amex BCE($20,000): 3% Groceries - 2% Gas - 2% Department Stores
US Bank Cash+($9,500): 5% Fast Food - 5% Cellphones - 2% Resteraunts
Chase Freedom($4000): 5% Rotating
CapOne QuickSilver($30,000): 1.5% Everything
Citi Double Cash($12,500): 2% Everything.
Lowes($2,400) 5% off Lowes.
Message 21 of 32
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Anonymous
Not applicable
‎06-22-2012 07:28 AM
‎06-22-2012 07:28 AM

Re: Transitioning into prime credit from thin but good Credit history need a third.

I don't think so. It will get reported is my guess.
Message 22 of 32
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noobody
Established Contributor
‎06-22-2012 08:34 AM
‎06-22-2012 08:34 AM

Re: Transitioning into prime credit from thin but good Credit history need a third.


 

Under their T&C

Should your application for the U.S. Bank Cash+™ Visa Signature card be denied, submitting this application constitutes your application for a U.S. Bank Cash Rewards Visa® Card.

 

which is a flexperks card, 1% cash back on everything.

 

BUT do not get upset, if that happened.

 

Since the damage is already done, do not cancel it yet

 

The card is possible upgrade to cash+ card in couple month

EX819 1HP|TU797 1HP| EQ(Fico8 BankCard)841
Message 23 of 32
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Iamien
Established Member
‎06-22-2012 09:05 AM
‎06-22-2012 09:05 AM

Re: Transitioning into prime credit from thin but good Credit history need a third.

Yeah, Cash Rewards with $3,500 limit. Permanent sock-drawered.  I'll give my 1% cashback business to AMEX, Chase, or even Citi(0%) before I give it to US Bank.

 

None of the other companies do this bait and switch bullstuff when they deny your application.

733 TU (08/21/2013)
Amex BCE($20,000): 3% Groceries - 2% Gas - 2% Department Stores
US Bank Cash+($9,500): 5% Fast Food - 5% Cellphones - 2% Resteraunts
Chase Freedom($4000): 5% Rotating
CapOne QuickSilver($30,000): 1.5% Everything
Citi Double Cash($12,500): 2% Everything.
Lowes($2,400) 5% off Lowes.
Message 24 of 32
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Anonymous
Not applicable
‎06-22-2012 10:32 AM
‎06-22-2012 10:32 AM

Re: Transitioning into prime credit from thin but good Credit history need a third.

Its what I thought as your limits were low for a conservative lender to go to $5k. My recommendation is use it every once in a while or put small recurring on it to keep it active. When you get more credit lines more than 5k then ask for cli and pc. Not sure what their cli policy is as I have never dealt with them. The cash+ card is special enough for the effort.
Message 25 of 32
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Iamien
Established Member
‎06-22-2012 11:59 AM
‎06-22-2012 11:59 AM

Re: Transitioning into prime credit from thin but good Credit history need a third.

Eh I might.  I just don't like having a trade-line of no value to me. I don't see US bank wanting to give me rewards when they see I'm a rewards expletive.

733 TU (08/21/2013)
Amex BCE($20,000): 3% Groceries - 2% Gas - 2% Department Stores
US Bank Cash+($9,500): 5% Fast Food - 5% Cellphones - 2% Resteraunts
Chase Freedom($4000): 5% Rotating
CapOne QuickSilver($30,000): 1.5% Everything
Citi Double Cash($12,500): 2% Everything.
Lowes($2,400) 5% off Lowes.
Message 26 of 32
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Anonymous
Not applicable
‎06-22-2012 12:52 PM
‎06-22-2012 12:52 PM

Re: Transitioning into prime credit from thin but good Credit history need a third.

@Iamien wrote:

 

None of the other companies do this bait and switch bullstuff when they deny your application.

Its kind of like a condescending consolation prize isn't it?  I had no idea they would pull such a stunt when I recommended you apply for the Cash + card.  Like you, I never heard of a company issuing you a different card than the one you applied for.  Although they stated they might do so in their terms and conditions, I still think this is a really tacky way to do business. 

 

Hopefully, they will allow you to product change in a few months. 

Message 27 of 32
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SwiftTone
Valued Contributor
‎06-22-2012 01:41 PM
‎06-22-2012 01:41 PM

Re: Transitioning into prime credit from thin but good Credit history need a third.

@Anonymous wrote:
@Iamien wrote:

 

None of the other companies do this bait and switch bullstuff when they deny your application.

Its kind of like a condescending consolation prize isn't it?  I had no idea they would pull such a stunt when I recommended you apply for the Cash + card.  Like you, I never heard of a company issuing you a different card than the one you applied for.  Although they stated they might do so in their terms and conditions, I still think this is a really tacky way to do business. 

 

Hopefully, they will allow you to product change in a few months. 

Most companies do this. If you actually read the terms and conditions, it says you are apply for a Visa Signature which has a starting CL of $5000+, but for whatever reason you don't qualify for a CL $5000+, you will recieve like a platinum.

AMEX: $25,000, CSR: $10,000, Chase Priority Club: $1,500, Freedom: $5000, Freedom Unlimited: $1000, Discover: $21,000, BoA $11,000, WF Cash Wise: $5000

EQ FICO - 753
TU FICO - 755
EX FICO(AMEX) - 766
Message 28 of 32
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Iamien
Established Member
‎06-22-2012 02:20 PM
‎06-22-2012 02:20 PM

Re: Transitioning into prime credit from thin but good Credit history need a third.

I made a call to their under-writing this evening, with work out of the way and was able to get some reason for the Denial for the signature card.  What I eventually got out of her, after some very pointed questions was that it was the age of my accounts.

 

My Current Tradelines are:

 

4 year aged Student Loans.

10 Month Aged GE Tuffy Store-card.

6 Month Auto Loan.

6 Month of Citi Creditcard.

 

0 baddies ever.

 

Guess it's time to garden, though I'll likely just focus on improving my AMEX/Chase relationships.

733 TU (08/21/2013)
Amex BCE($20,000): 3% Groceries - 2% Gas - 2% Department Stores
US Bank Cash+($9,500): 5% Fast Food - 5% Cellphones - 2% Resteraunts
Chase Freedom($4000): 5% Rotating
CapOne QuickSilver($30,000): 1.5% Everything
Citi Double Cash($12,500): 2% Everything.
Lowes($2,400) 5% off Lowes.
Message 29 of 32
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Anonymous
Not applicable
‎06-22-2012 02:26 PM
‎06-22-2012 02:26 PM

Re: Transitioning into prime credit from thin but good Credit history need a third.

@SwiftTone wrote:

Most companies do this. If you actually read the terms and conditions, it says you are apply for a Visa Signature which has a starting CL of $5000+, but for whatever reason you don't qualify for a CL $5000+, you will recieve like a platinum.


Interesting!  I learn something new here everyday.  I did not know this -- but then, so far, everything I've applied for I've received exactly what I applied for.  Actually, no--I take that back---when I applied for the Walmart card, they sent me the Discover Walmart card so, you are right---they sometimes do send you a different card. 

Message 30 of 32
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