US Bank REI Processing Time?

steve23111 · ‎09-29-2016

From snooping around on the forum it looks like US Bank is known for taking its sweet time reviewing applications. I applied last Thursday afternoon (so almost exactly a week ago), received the 7-10 day message, and have checked the status via the underwriting 800 number. I'm getting "a decision will usually be made within 3 business days" when I check the status. I keep a freeze on my 3 major credit reports but lifted the freeze prior to the app, and I did confirm with a rep at underwriting that they received the reports so I could re-apply the freeze. Do they seriously take this long to review applications?

Current FICO is 823, no history with US Bank at all, no recent inquiries, everything is happy and healthy so not anticipating any approval issues, just wondering about the processing time.

ddemari · ‎09-29-2016

My application in July went pending but was approved about 4 days later. You should be fine with that FICO score. US bank can be backed up and slow sometimes. Sometimes having no history with them can take a little longer.

steve23111 · ‎09-29-2016

@ddemari wrote:
My application in July went pending but was approved about 4 days later. You should be fine with that FICO score. US bank can be backed up and slow sometimes. Sometimes having no history with them can take a little longer.

Thank you. I have a small crapload of stuff to buy and the cheapskate in me would like the extra 5%.

steve23111 · ‎10-04-2016

Still not processed. I spoke with a representative who stated they are running way behind on applications and it's taking about an extra week. Pretty ridiculous.

Anonymous · ‎10-04-2016

I applied for a US Bank Club Carlson Premier Visa on September 21st. Got the same 7 - 10 day message. I figured a decline and waited for the letter. October 1st, the new account showed up online and I received a letter the same day. So it took me ten day's to hear anything. With your scores, I'm certain you'll be approved. Give it a few more day's.

Anonymous · ‎10-04-2016

I wouldn't worry about it with your scores. I called in after hearing nothing for 10 days. Rep said My application got stuck at address verification. Got it moving again and i had my card 5 days later. CL: $500 It's something

steve23111 · ‎10-12-2016

Still having heard nothing, I queried the status line once again and got the "a decision will usually be made in 3 business days." I asked for an agent and was initially told some information was waiting on verification and give it a few more days. I pushed back a bit and he was willing to dig deeper. He transferred my call to a specialist. That specialist was in the fraud department. The application was locked because I had used the IVR to check the status of the application "more than once or twice." I jumped through a crapload of hoops with the not-particularly-pleasant gentleman on the other end of the line and he eventually cleared the application and sent it back to the credit department for processing. So, the wait continues. He cautioned me about calling back ever again to find out what's going on with it. Seriously.

CreditMagic7 · ‎10-12-2016

It's nice people say with your score that you will be fine for an approval. That's quite obvious LoL

Fact is that even if (there was such a thing as) your score was 990, US Bank processing would be no different.

They manually review in most instances and sometimes that runs into several days or could be a week.

It differs but yes they (and some other banks), do take a little (or a lot) more time on these.

Congratulations! on the new US Bank card approval in advance.

Anonymous · ‎10-12-2016

@steve23111 wrote:
Still having heard nothing, I queried the status line once again and got the "a decision will usually be made in 3 business days." I asked for an agent and was initially told some information was waiting on verification and give it a few more days. I pushed back a bit and he was willing to dig deeper. He transferred my call to a specialist. That specialist was in the fraud department. The application was locked because I had used the IVR to check the status of the application "more than once or twice." I jumped through a crapload of hoops with the not-particularly-pleasant gentleman on the other end of the line and he eventually cleared the application and sent it back to the credit department for processing. So, the wait continues. He cautioned me about calling back ever again to find out what's going on with it. Seriously.

10% savings wouldnt make this bs worth it to me. If they treat you like that now..... Inexcusable to take that long and they tell you not to check on the status anymore. I'd tell them that there won't be any need to check again because you want the application cancelled.

Anonymous · ‎10-12-2016

I applied in August and got the card about 4 weeks later out of the blue (I got the a change to your credit report notification a few days earlier). It literally is a black box you apply into. Just today I got my $100 gift card for using the card as well.