USB IIB -- chances of getting a new card?

[Anonymous]

I am really surprised by this.
I had been expecting you to say the IIB was some very small amount but was part of the overall bankruptcy.
I cannot imagine Amex extending credit that quickly after 20k IIB, and Amex has gone mass market.

[zerofire]

AmEx is mass market and US bank is a regional bank. The areas they serve are different and each one knows it. AmEx will have more qualified candidates for their product and can be more choosy than US bank. US bank has a limited market and anyone that joins them outside of that is icing on the cake. They have less choices and of you have qualifications to a product they are prone to eventually want profit instead.

[Anonymous]

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@zerofire wrote:
AmEx is mass market and US bank is a regional bank. The areas they serve are diffrent and each one knows it. AmEx will have more qualified candidates for their product and can be more choosey than US bank. US bank has a limited market and anyone that joins them outside of that is icing on the cake. They have less choices and of yyou have qualifications to a product they are prone to eventually want profit instead.

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I live in Colorado, US Bank has a sizeable presence here, among the highest of the big banks. Wells Fargo is the largest followed by FirstBank (that’s amazing for a regional private bank, I had no idea my bank was so big, they only serve Colorado, California and Arizona) followed by US Bank as ranked by local deposits in 2017. 

[kugel]

I did not include them in bk I am at my third year after bk plus in my first year of Bk I had a secured cc with them with good payment history
What are my chances now to b approved ?

[sjt]

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@kugel wrote:
I did not include them in bk I am at my third year after bk plus in my first year of Bk I had a secured cc with them with good payment history
What are my chances now to b approved ?

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I believe US Bank like to see 5 years post BK before they will unsecure the card or approve unsecured loans/cards.

[sjt]

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@Anonymous wrote:

Long story short, BoA's practices ended up pushing me into filing chapter 7 which unfortunately included my US Bank card and reserve line. This was back in 2010. Do I realistically have any chance of getting back in with them? I believe they got burned about 10K but my memory of the events around that time is fuzzy at best.

I am sure at the very least I would have to wait til my BK drops in 2020 but that Cash+ card looks very attractive and I want to know if I should just give up any hope of getting that card now or if I might possibly be able to get into $500 purgatory for year with them and start being able to grow?

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You should call US Bank underwriting and see what their current policy is. Last I heard was 5 years post BK if you did not burn them. What was the amount US Bank was burned in BK?

[Anonymous]

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@sjt wrote:

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@Anonymous wrote:

Long story short, BoA's practices ended up pushing me into filing chapter 7 which unfortunately included my US Bank card and reserve line. This was back in 2010. Do I realistically have any chance of getting back in with them? I believe they got burned about 10K but my memory of the events around that time is fuzzy at best.

I am sure at the very least I would have to wait til my BK drops in 2020 but that Cash+ card looks very attractive and I want to know if I should just give up any hope of getting that card now or if I might possibly be able to get into $500 purgatory for year with them and start being able to grow?

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You should call US Bank underwriting and see what their current policy is. Last I heard was 5 years post BK if you did not burn them. What was the amount US Bank was burned in BK?

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Probably 10K. I don’t honestly remember and when my BK was discharged, every single account that was IIB including my positive ones were deleted from my credit reports so I don’t even have records at this point (anything I had was in my filing cabinet which was in the storage unit I lost when I was fighting for disability along with just about everything else I owned at the time). 

I won’t be going for it until my report is clean which may not be til 2021 and my BK falls in 2020 so hopefully 11 years is long enough. 

[pizza1]

USB BK policy is 5 yrs and 1 mo post file date before they will consider you.

If you burned them...its a toss up if they will consider you or not.

My file date was 05/2013, and I was approved for the cash+ on 6/3/18 for SL of $5k, after my app went to review. I also had opened up a Biz checking account before that, and they also approved me for a Biz Edge Visa on 7/26/18.

Everyone is different, and Ive also had a heck of a rebuild with several CC's with large CL's as well that Ive managed perfectly since DC, with some of those cards over 5 yrs old now. That combined with my Biz checking probably had alot to do with my approvals.

Plus, USB was NOT IIB for me.

[Anonymous]

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@pizza1 wrote:
USB BK policy is 5 yrs and 1 mo post file date before they will consider you.

If you burned them...its a toss up if they will consider you or not.

My file date was 05/2013, and I was approved for the cash+ on 6/3/18 for SL of $5k, after my app went to review. I also had opened up a Biz checking account before that, and they also approved me for a Biz Edge Visa on 7/26/18.

Everyone is different, and Ive also had a heck of a rebuild with several CC's with large CL's as well that Ive managed perfectly since DC, with some of those cards over 5 yrs old now. That combined with my Biz checking probably had alot to do with my approvals.

Plus, USB was NOT IIB for me.

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Yeah I’m expecting $500 purgatory for a year at least. 

[pizza1]

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@Anonymous wrote:

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@pizza1 wrote:
USB BK policy is 5 yrs and 1 mo post file date before they will consider you.

If you burned them...its a toss up if they will consider you or not.

My file date was 05/2013, and I was approved for the cash+ on 6/3/18 for SL of $5k, after my app went to review. I also had opened up a Biz checking account before that, and they also approved me for a Biz Edge Visa on 7/26/18.

Everyone is different, and Ive also had a heck of a rebuild with several CC's with large CL's as well that Ive managed perfectly since DC, with some of those cards over 5 yrs old now. That combined with my Biz checking probably had alot to do with my approvals.

Plus, USB was NOT IIB for me.

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Yeah I’m expecting $500 purgatory for a year at least. 

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Im expecting a decline since you IIB them for a good amount, and them maybe offering you a secured card, but I could also be surprised if you got approval. You can always call the BD# on recon if you do get declined, and basically beg for a $500 SL just to get your foot in the door, and show history. At that point, then you probably will be stuck at $500 for at least a year. Let us know how it turned out, and good luck!