US Bank Cash + CLI denied

[racer-x]

I recently pc'd my US Bank platinum to the Cash +.  I've had the CC for over 1.5 yrs with a $10k starting limit.

I called in Friday evening and asked for $20k, said it would be a HP and take 2-3 days once submitted to the credit dept.  Got the letter today, denied.

They pulled a TU 04 model and showed a score of 665....45 pts lower than Walmart, Discover and a recent mortgage lender pull.

They cited a 2yr old paid collection (utility bill), too many recent INQ's (3-4 on each CRA-6 of those were from mortgage pulls the past couple months, new accounts (amex and chase).

I bank with US bank for the past 8 yrs.  Direct deposit my check with them.  I also have their premier LOC with a $15k limit and a reserve LOC for $750.

I'm a little baffled.  Amex BCP gave me $10k CL 2 months ago and another $5.1k at the 61 day mark.  Chase gave me the CSP for $15k and Freedom for $6k, 4 months ago.

Discover auto-luvved me from $5k to $12.9K less than 6 months ago.  USAA just doubled my MC to $12k.  Paypal went from $5k to $15k less than a year ago.....?

It's my first denial since I started this credit rebuild almost 2 yrs ago.  Scores have all gone up since then, except EQ which is finally close to where it was a year ago.

They called it the "TRANSUNION FICO RISK SCORE CLASSIC 04 BANKCARD".

[gdale6]

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@racer-x wrote:

I recently pc'd my US Bank platinum to the Cash +.  I've had the CC for over 1.5 yrs with a $10k starting limit.

I called in Friday evening and asked for $20k, said it would be a HP and take 2-3 days once submitted to the credit dept.  Got the letter today, denied.

They pulled a TU 04 model and showed a score of 665....45 pts lower than Walmart, Discover and a recent mortgage lender pull.

They cited a 2yr old paid collection (utility bill), this is the real reason it was declined too many recent INQ's (3-4 on each CRA-6 of those were from mortgage pulls the past couple months, new accounts (amex and chase).

I bank with US bank for the past 8 yrs.  Direct deposit my check with them.  I also have their premier LOC with a $15k limit and a reserve LOC for $750.

I'm a little baffled.  Amex BCP gave me $10k CL 2 months ago and another $5.1k at the 61 day mark.  Chase gave me the CSP for $15k and Freedom for $6k, 4 months ago.

Discover auto-luvved me from $5k to $12.9K less than 6 months ago.  USAA just doubled my MC to $12k.  Paypal went from $5k to $15k less than a year ago.....?

It's my first denial since I started this credit rebuild almost 2 yrs ago.  Scores have all gone up since then, except EQ which is finally close to where it was a year ago.

They called it the "TRANSUNION FICO RISK SCORE CLASSIC 04 BANKCARD".

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US Bank is tough and unpredicable, I would proceed with a GW letter campaign to that reporting CA asking that it be deleted from your file. Good luck

[racer-x]

gdale - I've tried the GW route on that paid baddie several times.  The bad thing is I put that utility in my name for a relative, lesson learned, and still being paid for.

It only reports on TU.  

I want to know more about this TU classic 04 risk bankccard whatchamalcallit model they referenced as using.

[sexy_kitten7]

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@racer-x wrote:

I want to know more about this TU classic 04 risk bankccard whatchamalcallit model they referenced as using.

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 "TRANSUNION FICO RISK SCORE CLASSIC 04 BANKCARD" just means it's the FICO 2004 algorithm tailored for credit cards based on info on your TU report.

Most (all?) FICO sites only provide consumers with their "general purpose" FICO score, but different models are used for credit cards, auto loans, mortgages, and will give slightly different scores.

The latest FICO scoring model on the market is FICO08, I believe. All of the scoring products are priced the same for banks, so there's no incentive to migrate to the newer editions.

[Anonymous]

Sorry to hear the denial. US Bank is conservative and tends to hold CLs under $10K (from what I have observed from posting at various sites). Granted this is not absolute proof. Are there any recon channels? Visit to a local branch and have a Personal Banker contact them? Your total banking relationships with them have good results. I am a US Bank customer and have had CLIs on my two Visa Signature Cards and Premier Line of Credit increased too. Some where I read US Bank will do SP CLIs if requested at $1,500 per time and that is how I did it (again no solid facts only based on postings on other sites and it worked). As an aside, the US Bank "Reserve Lines" are operated under the banking side and the US Bank "Premier Plus Line of Credit" is run under the Credit Card side of the bank. Different approvers within the bank.

[cobbson]

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@racer-x wrote:

I recently pc'd my US Bank platinum to the Cash +.  I've had the CC for over 1.5 yrs with a $10k starting limit.

I called in Friday evening and asked for $20k, said it would be a HP and take 2-3 days once submitted to the credit dept.  Got the letter today, denied.

They pulled a TU 04 model and showed a score of 665....45 pts lower than Walmart, Discover and a recent mortgage lender pull.

They cited a 2yr old paid collection (utility bill), too many recent INQ's (3-4 on each CRA-6 of those were from mortgage pulls the past couple months, new accounts (amex and chase).

I bank with US bank for the past 8 yrs.  Direct deposit my check with them.  I also have their premier LOC with a $15k limit and a reserve LOC for $750.

I'm a little baffled.  Amex BCP gave me $10k CL 2 months ago and another $5.1k at the 61 day mark.  Chase gave me the CSP for $15k and Freedom for $6k, 4 months ago.

Discover auto-luvved me from $5k to $12.9K less than 6 months ago.  USAA just doubled my MC to $12k.  Paypal went from $5k to $15k less than a year ago.....?

It's my first denial since I started this credit rebuild almost 2 yrs ago.  Scores have all gone up since then, except EQ which is finally close to where it was a year ago.

They called it the "TRANSUNION FICO RISK SCORE CLASSIC 04 BANKCARD".

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 May I ask, when you PC'd your US Bank Platinum to the Cash + card, did you do it over the phone or in person at a branch? Also, did they do a hard pull for this PC. I am considering doing the same.

Thanks in advance

[user5387]

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@racer-x wrote:

gdale - I've tried the GW route on that paid baddie several times.  The bad thing is I put that utility in my name for a relative, lesson learned, and still being paid for.

It only reports on TU.  

I want to know more about this TU classic 04 risk bankccard whatchamalcallit model they referenced as using.

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Here's an old blog posting about bankcard enhanced scores:

   http://www.creditmattersblog.com/2008/10/bankcard-industry-option-fico-score.html