US Bank Cash Plus Visa Signature?

All about maximizing your rewards!
Members share tips and tricks for getting the most miles, & points.
270 posts
hematino
Centurion Member
Centurion Member
 
Posts: 339
Joined: Fri May 11, 2012 4:08 pm
Location: Atlantic City, NJ

Postby hematino » Fri Jul 13, 2012 11:16 pm

jeffysdad wrote:I googled it, hematino.

George Seferis : The Poetry Foundation


I've always found that passage to be somehow really haunting, but it has always stuck with me. George Seferis was an interesting guy, lol.
Now she's eyeless.
The snakes she held once
Eat up her hands.


hematino
Centurion Member
Centurion Member
 
Posts: 339
Joined: Fri May 11, 2012 4:08 pm
Location: Atlantic City, NJ

Postby hematino » Fri Jul 13, 2012 11:22 pm

MemberSince99 wrote:Speaking of inquiries, I've noticed the folks who talk the most about how evil they are have a boatload of uber prime high limit cards. I guarantee you that they needed inquiries to get those cards. I mean when you have 4 or 5 prime cards with limits of about 15 to 20k, and several more with 9 to 10k, and a few more specialty cards with lower limits around 5k beyond that, it's EASY to talk about gardening and not apping - you already have most of what you want and more than most people could even use. It's easy to tell someone with their pathetic 500 dollar limit Cap One card how they should sit in the garden with that weed for 2 years[B][B] just like it's easy to tell someone driviing a rusted 20 year old beater Chevy to be happy as you roar by in your new Porsche[/B][/B]. Anyone can do that. But let's face it that 500 dollar Cap One weed isn't going to grow with you no matter how much you feed and water it - it's a weed period. And my advice is after 6 months to a year with it, app for better or at least get 2 cards going to grow your score and history so you can get better. And the only way to do that is inquries. The guys with the pocket full of great cards more than likely had a hard inquiry for every one of them, possibly more for CLIs on them.


Hey!!!! I drive a old Chevy convertible and its exactly 20 years old (21 if you consider the '92 model year was actually made the year before)!! I love my Chevy and refuse to part with it, they can stick their snobby Porsches where the sun doesn't shine! :)
All kidding aside, you're definitely right about the inquiries (whether the police knock or not!). It's just an inquiry, people treat it as if you're trying to boil a child or something. Sheesh!
Now she's eyeless.
The snakes she held once
Eat up her hands.

jeffysdad
Centurion Member
Centurion Member
 
Posts: 875
Joined: Thu Apr 30, 2009 2:32 pm
Location: Texas

Postby jeffysdad » Sat Jul 14, 2012 5:48 am

I feel confident that the banks are well aware of consumer habits with regard to activity that generates credit report inquiries, probably more so than the people who calculate the credit scores. All of my "credit attributes" are rated "A" on the Credit Karma site except for inquiries, which I think is a "D," and average length of account standing, a "C" or "D."

Anyone who is denied for a card on the basis of these two factors should definitely appeal to the issuer. If it were me, I would explain that the banks themselves encourage consumers to apply for multiple accounts because of the numerous sign-up bonuses and all the things (rewards, etc.) the banks are offering to differentiate their products.

If one were to chart a representative sample of consumer hard report pulls generated by credit card applications along with an index representing the number/value of credit card sign-up bonuses being offered, you would probably see a pretty close correlation, I would guess.

The consumer activity that a high number of pulls among consumers represents is indicative of a healthy, competitive marketplace. If no one wanted new cards or to switch the cards they are using, it would suggest a pretty bland slate of offerings where credit cards are concerned.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.

MemberSince99
Centurion Member
Centurion Member
 
Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Sun Jul 15, 2012 8:31 am

My grade on Credit Karma is an "F" (for inquiries). But we all know their advice really doesn't mean a whole lot. My CK score was under 700 when my TU FICO was 770s. And they say I'm a "poor" auto insurance risk but I haven't had a ticket, accident or claim since 1988, drive a newer economy vehicle (not a 400HP race car), and have what our standards say is excellent credit - they call that "poor" risk but oddly my insurance company doesn't see it that way. Alrighty then!

hematino
Centurion Member
Centurion Member
 
Posts: 339
Joined: Fri May 11, 2012 4:08 pm
Location: Atlantic City, NJ

Postby hematino » Mon Jul 16, 2012 1:25 pm

Well it was the FlexPerks card in the mail. But it is a different one from the silver and black ones they show on the website. This card is blue in color and looks similar to the style of the Cash+ card. The reward structure is exactly the same as the Signature FlexPerks they do list, and they gave me 14.99% interest rate which is 1% higher than the lowest offered.

So I called underwriting for a reconsideration. Did all the usual stuff, talked up the benefits of the card, made friendly chit chat, etc. The rep did a manual review for me right then and there. He said NOTHING about my inquiries or tons of newer accounts, which really surprised me. He just said that because I had no prior relationship with US Bank that they wanted to see some history before granting the Cash+. I'm sure some of the people here probably had no history with US Bank, so I'm thinking my credit score itself was a factor. The letter they provided said my Experian score was 708 at the time of application. In the last four months it has admittedly taken minor dings (~30 points less than what Amex provided when I got approved for BCP) from inquiries and mainly my AAoA being lowered. When you ravage your average length with 8 new cards (9 now) in 4 months, you'll have that.

I restated to the rep how important to me the benefits of the Cash+ were and how I wanted it to be my primary card, and how lackluster the FlexPerks is in comparison. He agreed and said after 6 months of responsible use and payments that US Bank would send me an upgrade offer to the Cash+, and said he would make a note on my file. Hopefully he wasn't just blowing smoke up my a** cause if I don't get something I'm going to be calling them for the upgrade. So yes, I did activate the subpar FlexPerks card and will assign a utility or two for autopay. The rewards i lose in the process will hopefully be worth it in exchange for being a stepping stone to get to the Cash+.
Now she's eyeless.
The snakes she held once
Eat up her hands.

MemberSince99
Centurion Member
Centurion Member
 
Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Mon Jul 16, 2012 1:50 pm

You're right - I had no prior relationship with US Bank. Though my Associated Bank cards are issued by Elan Financial which is part of US Bank, but I don't know if the left hand talks to the right hand so who knows if that counts or not.

It probably was due to your score I'm guessing. I think you are right. They also gave me the 14.99% rate for what it's worth with the Cash + card. I did not get a letter in the mail giving my FICO so I assume that means I got the best terms on the card. It's still my lowest rate card.

But yeah 708 would really be pushing it for a signature card honestly.

So as far as the rewards, I looked at them when I had to make my selections. And I'll be honest - they don't really fit me that particularly well. Here's why - the bulk of my weekly spending is gas and groceries. With the Cash + card you can only choose one of those (along with Drug Stores) for the 2% category - neither is available as a 5% so you will get 1% with the other. I don't buy much that's outside of those categories in comparison to gas and groceries though department stores is a nice 5%. But the card really doesn't fit me that ideally - my Associated Bank Signature gives 3% on groceries and 2% on gas. So in terms of what I personally spend that's a better deal for me.

People should carefully look at the rewards structure and see how it fits you before apping. I don't regret getting this card and love the limit and plan to use it a lot (despite having better rewards on some other cards) but the reward structure doesn't really fit me all that well. I hope at some point they would allow gas and groceries and drug stores to be 5% category options - if they did that, this would be THE card to get bar none. (Even Amex BCP gives 6% grocery stores and 3% gas, after a full year, where the Cash + would give 5 and 5 and you could redeem anytime plus an extra .25% if you redeem in the amount of 100 dollars). If they make that change this would be a card to die for. But even so, I'm happy with mine. I hope you get yours converted over after 6 months.

hematino
Centurion Member
Centurion Member
 
Posts: 339
Joined: Fri May 11, 2012 4:08 pm
Location: Atlantic City, NJ

Postby hematino » Mon Jul 16, 2012 2:09 pm

Thanks man.

If i had the card, i'd just set the 2% for drug stores (already get 5% on gas with PenFed and 6% groceries with Amex). Its the 5% categories I really like, namely bill pay. It would be great the be able to get more on utilities than the 2% Fidelity or Discover which is the best I can get now. The other 5% would be nice for electronics stores, but love that bill pay category. The ability to check Experian as a benefit of their online banking wouldn't hurt either. Oh well, in 6 months I'm gonna see if they hopefully make good on the offer. I need my score to bounce back up where it was in February before my app spree started.
Now she's eyeless.
The snakes she held once
Eat up her hands.

MemberSince99
Centurion Member
Centurion Member
 
Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Mon Jul 16, 2012 2:14 pm

You can check Experian with thier online banking? I didn't know that I will have to look for that, how often can you check it? I wish I had seen that! Thanks for mentioning that.

By the way I thought about the BillPay as well, I don't like that because if they make a mistake on your bill you're automatically paying (or trying to pay) it, I'd rather catch it BEFORE it's paid. Call me a control freak but I want to control when and how much is paid. I always pay on time and in full but I have caught an error recently that I brought up and they gave me a credit for it. Do you know if there is a way to check before it pays it? I've never done it because of the fear of that.

Ratfacedudeguy
Centurion Member
Centurion Member
 
Posts: 362
Joined: Wed May 30, 2012 8:10 pm
Location: Baltimore

Postby Ratfacedudeguy » Fri Jul 20, 2012 8:57 am

Well... I got approved for something. Can't quite find out exactly what for yet because the CSR I spoke too couldn't find my account by my SSN. Probably because the approval is too low. I really hope they didn't stick me with the lower level card, but it's way more likely I got that than the actual Cash +. I suppose we shall see....

EDIT: Just called them back. They downgraded me and approved me for $1500. At this point I'm thinking I'm just going to have them close the account before it reports. The hassle of maintaining a card I didn't want anything to do with for 6 months without guarantee of upgrade just really doesn't do it for me. I'd rather wait and get what I really want instead of further thrashing my AAoA in the interim. They pulled Equifax by the way... Damned!
Amex Green - NPSL - 05/12
Amex Zync - NPSL - 06/12
Discover it - $7750 - 11/12
Chase Sapphire Preferred Visa Signature - $5000 - 11/12
SECU Platinum Visa - $5000 - 08/08
Bank of America Cash Rewards Platinum Plus Visa - $3000 - 06/08
Citi Diamond Preferred Mastercard - $3000 - 05/12
GECRB Old Navy Visa - $2500 - 11/12
Chase Amazon Visa - $2000 - 11/12
Chase Freedom Visa - $2000 - 07/12
Citi Thank You Visa - $1000 - 06/12
Amex Blue Cash Everyday - $1000 - 01/13

jeffysdad
Centurion Member
Centurion Member
 
Posts: 875
Joined: Thu Apr 30, 2009 2:32 pm
Location: Texas

Postby jeffysdad » Fri Jul 20, 2012 9:19 am

MS99, usually the bank just debits your checking account on the payment due date, which is the date that falls at the end of your grace period. If you select your own due date, which I did for each of my cards, they will sometimes move your cycle date to give you a full grace period (Chase) or just move the payment date up within the grace period (Discover). In either case, you should have plenty of time to go online and review your statement and the amount due before it's debited.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.



Return to “Rewards”

Who is online

Users browsing this forum: No registered users and 2 guests