I applied for the us bank card with a 715 fico got approved for 4k.Ok so 3 months later they closed the account with no notice for a lame reason that i obtain a auto loan refinace from Penfed with a 1.45% Now i applied with the us bank 3 months early and the best rate they could do for the autoloan with a 715 fico was 12.9%.........Wow...What so not Predatory lending about that?I calld back and i told them yea ok maybe some other time mr. Predator !!!!!!!
I applied for the us bank card with a 715 fico got approved for 4k.Ok so 3 months later they closed the account with no notice for a lame reason that i obtain a auto loan refinace from Penfed with a 1.45% Now i applied with the us bank 3 months early and the best rate they could do for the autoloan with a 715 fico was 12.9%.........Wow...What so not Predatory lending about that?I calld back and i told them yea ok maybe some other time mr. Predator !!!!!!!
So just trying to understand: you got a credit card with US Bank, and it got closed because you refinanced an autoloan? Was the auto loan with US Bank, your statement (yea ok maybe some other time) suggests not. So did they close the credit card because of an apparent new line of credit, even though presumably the monthly fee on the refinance was lower than the original?
my question was asked directly above while I was typing it...lol.
My Wallet: WalMart: ||15k|| USAA Platinum MC: ||26k|| BCE: ||9k|| Chase Freedom Siggy: ||10k|| Discover it: ||6.5k|| SG Visa: ||11k|| USAA World MC: ||23k|| US Bank Cash+ Siggy: ||7.5k|| Citi TYP World MC: ||12k|| Barclays Arrival World MC: ||13k||Citi Double Cash World MC ||25k||Sallie Mae World MC ||18.8k||Fico Scores (3 Fico Monitoring): EQ 751,TU 749, EX 743. Last app: 9-12-14 Sallie
It sounds like US Bank did an account review, saw the new inquiries, and decided they didn't want to risk lending to you anymore. It's a bummer, I guess, but certainly doesn't make them "predatory." In fact, it makes them just about the opposite of predatory. Predatory lenders try to find people down on their luck to lend to at usurious interest rates. That doesn't sound like what US Bank did.
No need to badmouth a lender because of a legitimate business decision they made.
12% and 1.4% are very far apart.I guess i understand they make their decision within their guidlines but the guidline at this point with us bank is clear.
With 715 fico you should qualify for a 4.9% autoloan used 48months.Why was i getting 12.9% instead.Thats the reason i call it predatory because they try to go outside their own guidlines by 8%.Anyways thats not the point.I got my loan at penefed at 1.49%.The point is why they closed my credit account with them over shoping for a autoloan inquiries.
12% and 1.4% are very far apart.I guess i understand they make their decision within their guidlines but the guidline at this point with us bank is clear.
With 715 fico you should qualify for a 4.9% autoloan used 48months.Why was i getting 12.9% instead.Thats the reason i call it predatory because they try to go outside their own guidlines by 8%.Anyways thats not the point.I got my loan at penefed at 1.49%.The point is why they closed my credit account with them over shoping for a autoloan inquiries.
FICO score is not everything. Having a high FICO score does not mean you will get the best rate. What's on your credit report is far more important than a calculated number.
US Bank can deny you over an inquiry and that is a valid business decision. If you don't like the rate simply go to another lender. Just like car shopping; if you don't like the price then walk out.
but ur missing the point.What that got to do anything with closing an existing credit card that i had with them for 3 months.And all that because i was shoping for auto loan.Why is that we talk about things with out talking the time to understand the situation.We the consumers we have to help each other and that mean sharing the experience.
