Update: US Bank is the absolute worst IMO, New CL

Anonymous · ‎04-07-2020

Hi All,

I just opened a secured card with US Bank with a CL of $5,000. It's been by far the worst experience I've had with a bank and I bank with citi who will shut your card down at even the slightest indication there could be fraud.

I tried to make a couple online purchases after I opened the card from well known retailers and they were declined. Fine I'll call in to confirm it's me. In order to get the transactions approved I had to talk to a supervisor to get a temporary override even though I verified both my identity and the transactions with the first person. The transaction still was flagged and auto declined by their system. This was literally like Nike.com for $200.

I understand any bank has to mitigate risk and get to know your spending but this already seemed weird. Then I went to the bike shop to purchase a bike on Saturday. Again declined. I had to call in to verify it was me I thought. Wrong. Verification of the purchase and identity was not enough. I had to speak to three layers of managers and verify every piece of information they could think of before they put through an override. Previous managers flat out said there was nothing they could do after removing the fraud block for me to access my CL. I had to keep pushing. It took an hour on the phone at the bike shop and a lot of standing my ground to just get this one purchase approved.

Terrible experience considering I hadn't been informed that my credit line was not usable for larger purchases or in first few days etc. The card is also secured so I just was very upset with the situation. Like if the fraud block is removed you should certainly be able to access a credit line you've been approved for. Does anyone know more about this here?

thanks for your help and reading my rant

Remedios · ‎04-07-2020

Hi

I'm sorry this is happening to you.

I dont share your experience, I've never had a declined charge, even when traveling, and my US Bank cards see a lot of use. They havent been the worst, they've been the best, so it's probably better if we dont generalize, as "worst" and "best" are in the eye of beholder.

So, it might help if you'd clarify what do you mean by "fraud block", as fraud block is something placed on the fraudulently opened TLs by CRA to make them "invisible" once proof of identity theft is provided to them.

Do you have advanced location enabled on your phone? That helps, not only with US Bank, but also with Citi cards.

You dont have to use mobile wallet, you only need to have your phone with you.

Caught750 · ‎04-07-2020

My experience is the same as Remedios. I've had fantastic experiences with US Bank and when my first card was compromised it was replaced immediately and the the replacement was overnighted.

My US Bank cards get HEAVY use and I've never had an issue or declined charge at all. I'd recommend resolving this issue and then giving them an opportunity as it should be smooth sailing and clear water once it's taken care of.

Anonymous · ‎04-07-2020

I'll agree that your experience certainly was horrible. But once you get a spending pattern with them perhaps that will end, and you will no longer have such issues. If things do not improve over the course of a year, perhaps you should simply pull you funds and move on.

While these security measuers are meant to help protect both the lender and consumer, if it becomes too inconvenient then it's not worth having.

Anonymous · ‎04-07-2020

I've never had a US Bank card transaction declined or approved (maybe because I've never had a card with them).

But seriously, they are just protecting their money (in your case, your money), and maybe they need to polish their fraud algorithm for the first 20 or so transactions with them (I assume you are new to a US Bank credit card).

When I got my first Chase card 3 years ago, they kept calling me after the first few transactions. I thought maybe they wanted to do a survey after each transaction to see how it went. Once they got to know my erratic and not so erratic spending behavior, they stopped.

I have a new Chase card now and use it a lot. They don't care about me now and haven't called me in 3 years.

Hang in there, they'll get used to you and they won't think Nike or any other normal purchase is strange anymore. They might end up being the "best" card in your wallet.

Cory88 · ‎04-07-2020

@Anonymous wrote:
Hi All,

I just opened a secured card with US Bank with a CL of $5,000. It's been by far the worst experience I've had with a bank and I bank with citi who will shut your card down at even the slightest indication there could be fraud.

I tried to make a couple online purchases after I opened the card from well known retailers and they were declined. Fine I'll call in to confirm it's me. In order to get the transactions approved I had to talk to a supervisor to get a temporary override even though I verified both my identity and the transactions with the first person. The transaction still was flagged and auto declined by their system. This was literally like Nike.com for $200.

I understand any bank has to mitigate risk and get to know your spending but this already seemed weird. Then I went to the bike shop to purchase a bike on Saturday. Again declined. I had to call in to verify it was me I thought. Wrong. Verification of the purchase and identity was not enough. I had to speak to three layers of managers and verify every piece of information they could think of before they put through an override. Previous managers flat out said there was nothing they could do after removing the fraud block for me to access my CL. I had to keep pushing. It took an hour on the phone at the bike shop and a lot of standing my ground to just get this one purchase approved.

Terrible experience considering I hadn't been informed that my credit line was not usable for larger purchases or in first few days etc. The card is also secured so I just was very upset with the situation. Like if the fraud block is removed you should certainly be able to access a credit line you've been approved for. Does anyone know more about this here?

thanks for your help and reading my rant

For me was helping a friend with BMO Harris and Alliant FCU.

Anonymous · ‎04-07-2020

@AnonymousWhat you have gone through would more than make me upset! You may want to visit and actual US Bank Branch and have them contact the powers to be and verify or whatever to end the situation. Assuming you have a close access to a branch.

Not to side track but, I have never been able to open any product of US Bank on line. Why? Beats me? Once I go into the US Bank Branch I have had 100% success and good results after?!

Did have someone trying to steal my accounts at US Bank and they had them shut down so fast I could hardly respond. Appreciated their very good fraud detection as it saved my bacon!

Anonymous · ‎04-07-2020

@Anonymous wrote:
@AnonymousWhat you have gone through would more than make me upset! Would you be able to visit and actual US Bank Branch and have them contact the powers to be and verify or whatever to end the situation.

Not to side track but I have never been able to open any product of US Bank on line. Why? Beasts me. Once I go into the US Bank Branch and open many products success and good results after?! Did have someone trying to steal my accounts and they had it shut down so fast I could hardly respond. Appreciated their very good fraud detection as it saved my bacon!

The downside of excellent fraud detection is overzealous fraud protection.

Anonymous · ‎04-07-2020

Makes me wonder why they'd be so finicky with a secured card... they're guaranteed payment.

Someone is probably trying out a new logic in the fraud protection program that will fail miserably and eventually get removed. Their customer care center cannot withstand this many calls for this many accounts if they're doing it to everyone.

Never had a US Bank credit card but in talks with a finance manager at a car dealer she said never give anyone you like a US Bank car loan. If you default, it's not just a matter of repossession, they make YOU auction off the car. Not sure how much truth that holds but would you really want to find out? 😅

Anonymous · ‎04-07-2020

@Anonymous wrote:
Makes me wonder why they'd be so finicky with a secured card... they're guaranteed payment ...

... unless the charges are fraudulent, in which case USB would eat the charges.

New customer, spotty credit -- no offense intended, but I'd be leery too.