US Bank Cash+ Card Graduation Questions

[Creditswooner]

Hello!

I have been rebuilding my credit over the past year and a half and have gotten to the point where I am almost eligible for graduation with my US Bnk Cash+ Secured card! I have never missed a payment, use the card quite a bit (only have a $500 limit but I spend about $1500-$2000/ month on it, paying it off several times throughout the month and paying it in FULL at the end of every month so I never carry a balance).

I am wondering if anyone who has had experiences graduating a US Bank secured card could give me some insight into the graduation process, as I will reach a full year on July 10th and am trying to graduate my card to unsecured!

Btw, I just want to say that I have called the US Bank underwriting department and asked them these questions and I got 3 different answers from 3 different representatives (I spoke to the first representative back in April/May and he was very helpful and direct, I spoke to the second representative today and she told me the exact opposite of what the first rep told me, and then the third rep had absolutely no clue what was going on and was trying to search for the answers in the disclosures which proved to be both contradictory and unhelpful), so those interactions weren’t really helpful for me - which is odd, because the US Bank underwriting department has usually been pretty knowledgeable and squared away in my previous dealings with them!

Okay so a few questions:

1. When your card graduated, was it after exactly one year or was it longer/shorter than one year?
2. When your card graduated was automatic or did you have to call in?
3. If you called in, was there a hard pull or a soft pull on your credit report to check for graduation approval?
4. Did you request or receive a credit line increase when your card graduated?
5. Did they send you a new card or were you able to keep your old one?

[Lurker22]

I can only answer the first question, I have 2 secured cards with USB, neither has graduated - not sure if burning them in a 13 has anything to do with it but the first card is 2 years and 7 months old, the second card is 2 years 5 months old...what's funny is their Elon division recently gave me a Fidelity card with a $16K limit, I use the 2 USB cards for specific purposes and use other cards for everything else to maximize my cash back  

Best of luck

[user365735]

I've had my 2 secured cards for about 15 months now and nothing. I'm definitely getting better cards so now US Bank is on the back burner. I basically just use one card for my gym membership and other card for restaurants (both 5%). Sometimes I consider closing them to get my deposits back but it's a small amount and right now I don't have any cards to give 5% at restaurants or fitness. I mean my gym membership is 19.99 a month and at 5% cash back I'm really hitting them hard, I'm surprised they haven't cancelled me.

[Creditswooner]

Thanks for your insight!

Did you request graduation? Or did they just not do it automatically and you never asked?

Wondering if I should make the first move or wait on them to do it. 

[Creditswooner]

Woaaaahhh that's a long time! How long ago was your ch13? I feel like I heard that they have like a 5 or 10 year rule (unsure about the exact number of years) restricting upgrades/CLIs after BK! 
Congrats on the Fidelity CC and the limit though! What's your current EX FICO, if you don't mind?

[Lurker22]

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@Creditswooner wrote:

Thanks for your insight!

Did you request graduation? Or did they just not do it automatically and you never asked?

Wondering if I should make the first move or wait on them to do it. 

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I've never asked but they do tell me in the app/on their website that they are reviewing my credit monthly to see if both cards will graduate (it tells you the next month they'll review),as the other poster stated I don't use either card for much, the Altitude GO I use for dining for the 4%, the Cash+ I use for utilities, both have $500 limits so there's not a ton of money tied up there

[Lurker22]

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@Creditswooner wrote:

Woaaaahhh that's a long time! How long ago was your ch13? I feel like I heard that they have like a 5 or 10 year rule (unsure about the exact number of years) restricting upgrades/CLIs after BK! 
Congrats on the Fidelity CC and the limit though! What's your current EX FICO, if you don't mind?

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my 13 was filed in 11/17 - so it's already fallen off TU, will fall off the other 2 shortly

my TU Fico 8 is 810 

EX Fico 8 is 708 

EQ Fico 8 is 711

What a difference having the 13 drop off makes  

[Jeffster1]

My USBank secured card graduated at 18 months. I barely ever used it and, frankly, forgot about it. I asked at 18 monhtd and it graduated right away. 

[Creditswooner]

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@Jeffster1 wrote:

My USBank secured card graduated at 18 months. I barely ever used it and, frankly, forgot about it. I asked at 18 monhtd and it graduated right away. 

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Thanks!

[Jordan23ww]

I haven't had a secured card with US Bank but I have read some posts from those who have. They have reported that if you ask US Bank for your card to be graduated a hard pull is done to see if you're eligible.  Hopefully if you do pursue initiating your cards graduating you will get approved and receive some nice increases to your credit limit. Best wishes to you!