US Bank Cash + Changes and New Cards June 20th.

[Royalbacon]

Not sure about calling for your status but USBank manually reviews 99% of applications. They're one of the most conservative big banks that you will ever see.

I have a checking and savings and when I applied for my card a few days later I signed into my online banking and had a credit card listen in my accounts.

[kdm31091]

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@galahad15 wrote:

I just apped for the Cash+, got the message back that said they are reviewing my application and that I should get a response by U.S. Mail in 7-10 days.  J/c, does anyone know if new applicants who get this message can call their number to get an update from their system regarding the application status, in advance of receiving the letter in the mail?

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This is normal, and calling won't really do anything. They are not like some banks where you can recon on the spot. If you call, they will just say wait for a decision. That's really all you can do.

Of course, you can call the automated app status line for updates, but I believe it only updates once per day.

[CreditMagic7]

As already mentioned.

US Bank 100% manual reviews each application so it's in a que until it get's officially processed with "eyes on"

[galahad15]

Called their credit card application status line, and the automated system said that I was declined 

Any tips or suggestions please, on requesting a recon?

ETA:  called and requested a recon, found out they pulled EQ, which had a FICO score of 726, still declined though, even though I also have a relatively-high annual gross household income.  CSR said she would put me in for a second review, and said to call the application status number back within the next few days.  CSR said they don't consider FICOs or HHI alone in the approving or denying apps, but that they look at everything and the whole profile.

[galahad15]

Admittedly kinda disappointed, in the US Bank Cash+ app denial    During CARD Act, I also used to have a US Bank Platinum card at 9.99% V APR, which they tried to RJ as high as 19.99%+ V.  When they did that, I closed the account at the existing rate, and told myself I'd never do business with US Bank again.  The Cash+ card rewards just looked so tempting though...looks like I should have stuck to my earlier resolution... 

[Royalbacon]

I remember being kind of shocked that I got approved for my USBank card when I did considering how conservative they are.

But anyways heres a link to an archived version of their Cash+ page from March 18, 2016

https://web.archive.org/web/20160318022757/https://www.usbank.com/credit-cards/cash-plus-signature.h...

Like I said, it used to say If you do not qualify for the U.S. Bank Cash+ Visa Signature Card, you will automatically be considered for the U.S. Bank Cash Rewards Visa Card that earns 1% cash back on all net purchases, but does not offer the 5% and 2% Cash+ Categories.

Now it says you will automatically be considered for the Cash+ Platinum Visa rather then the Cash Rewards Visa Card.

[CreditMagic7]

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@galahad15 wrote:

Admittedly kinda disappointed, in the US Bank Cash+ app denial    During CARD Act, I also used to have a US Bank Platinum card at 9.99% V APR, which they tried to RJ as high as 19.99%+ V.  When they did that, I closed the account at the existing rate, and told myself I'd never do business with US Bank again.  The Cash+ card rewards just looked so tempting though...looks like I should have stuck to my earlier resolution... 

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They use another data source to approve applications not just Equifax so that might be the stickler that's caused it.

I forget now which other one(s) they use but FNBO also used a similar outsource separate from a common CRA to deny an app before.

[kdm31091]

Sorry for the denial. Honestly surprised they decided so quickly as it usually takes a few days either way. Unfortunately that leads me to think it may be a pretty firm denial.

[Anonymous]

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@Royalbacon wrote:

I remember being kind of shocked that I got approved for my USBank card when I did considering how conservative they are.

But anyways heres a link to an archived version of their Cash+ page from March 18, 2016

https://web.archive.org/web/20160318022757/https://www.usbank.com/credit-cards/cash-plus-signature.h...

Like I said, it used to say If you do not qualify for the U.S. Bank Cash+ Visa Signature Card, you will automatically be considered for the U.S. Bank Cash Rewards Visa Card that earns 1% cash back on all net purchases, but does not offer the 5% and 2% Cash+ Categories.

Now it says you will automatically be considered for the Cash+ Platinum Visa rather then the Cash Rewards Visa Card.

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And my guess is that this might make rejections more common.   While they might have been happy giving 1% rewards to "weaker" profiles, they may not feel that giving 5% rewards will be profitable.

Can't remember if they used to give Cash + with limits under $5k, or if that was a firm line (like CSP).  

[galahad15]

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@CreditMagic7 wrote:

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@galahad15 wrote:

Admittedly kinda disappointed, in the US Bank Cash+ app denial    During CARD Act, I also used to have a US Bank Platinum card at 9.99% V APR, which they tried to RJ as high as 19.99%+ V.  When they did that, I closed the account at the existing rate, and told myself I'd never do business with US Bank again.  The Cash+ card rewards just looked so tempting though...looks like I should have stuck to my earlier resolution... 

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They use another data source to approve applications not just Equifax so that might be the stickler that's caused it.

I forget now which other one(s) they use but FNBO also used a similar outsource separate from a common CRA to deny an app before.

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Very interesting, I was approved for FNBO Amex and FNBO BucksBack cards in mid- to late- 2015, and was approved for both cards, and with lower FICO scores than I have now.  Ah well, I guess I'll just stick with my existing card lineup, and just forget about future US Bank apps.  It seems as though FNBO likes me, and US Bank doesn't...