US bank cash+ Visa Signature limit

[Anonymous]

Just got my new card, instant approval online, they're telling me my revolving limit is $500??? On a visa signature, really? Did they misplace a zero? 

[CreditCuriosity]

Nope Us Bank issues 500 VS CC's now..

[Anonymous]

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@CreditCuriousity wrote:

Nope Us Bank issues 500 VS CC's now..

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Ouch. Well this card does not fit my profile then. What a waste of an inquiry. Do they at least do soft pull CLI's? I don't know whether to just close it or sock drawer it, everything else in my wallet is much higher. 

[Themanwhocan]

Its possible to request $1500 CLI increases every 6 months, which are usually SP.

The card will grow with time. 

[longtimelurker]

$500 is low in that it prevents you reaching the $2000 a quarter in 5%.   I would attempt a recon on just that basis.    WHen people get $500 on a Freedom, that IS just enough!  Here it isn't.

[Anonymous]

I think the $5K minimum for VS is not always true. My Chase Amazon is at $3500 and is a VS.

[CreditCuriosity]

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@Anonymous wrote:
I think the $5K minimum for VS is not always true. My Chase Amazon is at $3500 and is a VS.

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It is deffinetly not true anymore being 5k for VS.. Although some lenders still require it(BofA, etc), but Visa does not.

[Anonymous]

@mlc269

Get in touch with UW ....and recon that SL

Do have any other relationships with US bank???

[Anonymous]

Also...Be very clear with UW...use same HP.

I was told by UW if you ask under 10k it will not be another HP ...if CR profile is strong go for it .

[Themanwhocan]

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@longtimelurker wrote:

$500 is low in that it prevents you reaching the $2000 a quarter in 5%.   I would attempt a recon on just that basis.    WHen people get $500 on a Freedom, that IS just enough!  Here it isn't.

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You can pay more than once a month, so its not absolutely a limitation. It is annoying in the short term though.

Depending on how you use the categories, you may not need the full $2000 spend per quarter. The cell phone category, for example, is a rare category for credit cards that wouldn't be expected to use a huge chunk of $2000 per 3 months, which probably leaves more spend potential for the other category (which likely would not all be used).