US Bank underwriting different for different cards?

[KJinNC]

I think I am at or near the point where I would have a good chance of being approved for a US Bank card. My question is, is either Altitude Go or Cash+ is easier or harder to get. I am interested in both, but assume I'd need to pick one or the other. By the way, as of today, I am 0/12 in terms of cards, but still 1/12 counting loans. That 1 loan ages over a year in early July. Thanks!

[Remedios]

Underwriting is same, but keep in mind, an account opened in May of 2020 is considered a year old in June 2021 by them. 

They don't "count" month in which it happened.

Same goes for CLI requests, if you get one on 01/01, "six months" is 08/01, month in which you got it is excluded, six full months need to pass (for a chance at SP). 

They will count loan as a new account, but that's easy to recon. 

[designated_knitter]

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@Remedios wrote:

Underwriting is same, but keep in mind, an account opened in May of 2020 is considered a year old in June 2021 by them. 

They don't "count" month in which it happened.

Same goes for CLI requests, if you get one on 01/01, "six months" is 08/01, month in which you got it is excluded, six full months need to pass (for a chance at SP). 

They will count loan as a new account, but that's easy to recon. 

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@RemediosYour post highlights something that I've been wondering about lately.

Does age of accounts *generally* (Recognizing there will always be the odd duck) start the day the account month the account is opened or 1 month after that?

For example, I opened a navy card on December 2.  So does December count as month 1 or month 0?  Is how you described USBank's counting the norm or the exception?

Hope this makes sense.

[Remedios]

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@designated_knitter wrote:

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@Remedios wrote:

Underwriting is same, but keep in mind, an account opened in May of 2020 is considered a year old in June 2021 by them. 

They don't "count" month in which it happened.

Same goes for CLI requests, if you get one on 01/01, "six months" is 08/01, month in which you got it is excluded, six full months need to pass (for a chance at SP). 

They will count loan as a new account, but that's easy to recon. 

---

@RemediosYour post highlights something that I've been wondering about lately.

Does age of accounts *generally* (Recognizing there will always be the odd duck) start the day the account month the account is opened or 1 month after that?

For example, I opened a navy card on December 2.  So does December count as month 1 or month 0?  Is how you described USBank's counting the norm or the exception?

Hope this makes sense.

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It really varies. There were examples of Chase apps that were approved a few days after reaching 4/24, but also multiple examples of denials for "too many new accounts"

The only difference that I'm aware of between US Bank and others is that US Bank is very consistent about not "counting" the month in which event happened, so full 12 months for new account and full six months for increases, excluding the month in which it took place. 

In your case, January is month 1, and if you added no more cards, you'd be 0/12 in January 2022. 

[KJinNC]

Thanks. So I think right now I would be 2/12 at first glance for them (May 2020 credit card, July 2020 loan), but reconnable to 1/12, potentially getting approved ... but if I wait until June, that becomes 1/12 at first glance (could be reconned to 0/12, but might not be necessary). Let me know if I am misinterpreting. So probably safest to wait until June, at least. August even safer.

I am thinking about applying for Altitude Go, and if I get that, applying soon after for the Elan version of Cash+.

[Remedios]

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@KJinNC wrote:

Thanks. So I think right now I would be 2/12 at first glance for them (May 2020 credit card, July 2020 loan), but reconnable to 1/12, potentially getting approved ... but if I wait until June, that becomes 1/12 at first glance (could be reconned to 0/12, but might not be necessary). Let me know if I am misinterpreting. So probably safest to wait until June, at least. August even safer.

I am thinking about applying for Altitude Go, and if I get that, applying soon after for the Elan version of Cash+.

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I'd wait till June at least. If you were to get denied in June only for having loan, recon should be possible. 

If you want to be on super safe side, August 1st is when you're clean as a whistle. 

I dont think you need to be 0/12, 1/12 is probably good enough, but that's just my personal opinion since that "one" isnt a revolver. 

[jmcmillan]

Does US Bank generally require 0/12 to be approved for their cards?

[Anonymous]

There are times when you can bypass that by being an existing customer, my DP was 2/12