^ Good luck on your application! Hope to read of your approval.
@Anonymous wrote:It's a shame that they don't just automatically default you the same categories as you've chosen the prior quarter if you forget to update it manually for whatever reason. Maybe that's how they can afford the 5%.
Yes, other cards such as Discover, Freedom and Dividend all require you to sign up each quarter. Presumably some forget and get the 1%, reducing issuer costs!
When I applied for Cash+ it made me wait 4-5 days as well, and I was approved. I was only approved for $1,000 SL initially and did a recon call to increase it to $7,000 (stating my concern over utilization %). I think that's just their general process. They are very conservative, inquiry sensitive and pull TU scores.
Good luck! Let us know how it goes...
On Deck: No Plans Currently
@Anonymous wrote:Thanks @Remedios, @longtimelurker, @dyn085, and @Taurus22 for your advice. Your persistence and love for this card prompted me to take another look at it. What sealed the deal for me was the following category info from their website:
The new 5% category "TV, Internet & Streaming Services" includes Comcast & Pandora. The "Cell Phone Providers" category includes T-Mobile. As icing on the cake, you get a $150 bonus after making $500 in eligible net purchases within the first 90 days of account opening. My T-Mobile bill is $121/month, Xfinity is $120/month, and Pandora is $10/month so it should be really easy to meet the $500 net purchases within the first 90 days. I can even throw in Gas Stations for the 2% for the first 90 days just to make sure I hit that $500 without any problems. That's awesome, thanks!
So I applied for the U.S. Bank Cash+ Visa Signature Card. Out of curiosity, when you applied for this card online, did it tell you right away that you were approved or did it say that they're reviewing your application and you'll receive a decision in the mail in the next 7-10 days?
@longtimelurker I'm glad that you brought up that the review in question may have had issues due to the merchant not coding as expected. I understand that logic, hopefully they understand that Comcast and Xfinity are one and the same.
I also like that you said US Bank sends reminders when it's time to select the quarterly categories -- since I'm on the computer anyways doing the budgeting and paying off balances, what's a few seconds setting up some categories every 3 months. It's a shame that they don't just automatically default you the same categories as you've chosen the prior quarter if you forget to update it manually for whatever reason. Maybe that's how they can afford the 5%.
@Taurus22 I'm happy to hear that they don't change categories that much. The only problem with the Utilities category for me is that PPL Electric doesn't accept credit cards. But, since they have categories for my Comcast bill, Cellular bill, and Pandora subscription, it's just as good. What's great about this card if I get it and they don't change categories is that I can set up these automatic payments and never have to put the card in my wallet cept for the first 90 days when I will use it for gas.
@CardNut I agree, the Wells Fargo Propel Amex card is awesome. I will be applying for that too in the near future. I believe that will be the "last" card I ever apply for. As for my wife, I will make her an AU on the WF Propel Amex card and after we apply for the mortgage in 3-5 years from now, I might even sign her up for her own US Bank Cash+ card so we'll have four 5% Categories effectively. Who knows what the future holds.
Well, good luck.
Good choice of card in the Cash+.
Don't sweat the message you received, almost all US Bank applications go to manual review unless your profile is super clean.
You've got a good credit plan, goodluck with your mortgage.
^ Congratulations on your approval!