US Bank Cash Plus?
 

Hi,

I applied for the US Bank Cash Plus card but was approved for the Cash Reward card.

I unfortunately found out about the recommended freezing your SageStream (formerly ID Analytics) & ARS credit before applying.

I need some advice on what to do since I really prefer the Cash Plus.

Should I?
- freeze the credit now and ask to recon?
- take the hit now and see if I can get an upgrade in 6 months?
- some other solution?

Thanks in advance.

Recon will not approve you into a different product. Call them and ask them to cancel the approval for the Cash Reward card, then try applying again after your freezes go through.

Regardless of everything else, you should still freeze your reports since there are very few situations where they're needed.

You've already taken the hit, so if I were you, I'd just wait and ask to be converted a few months from now.

Thanks.

So I guess I have to use it somewhat and show good payment history and then in 6 months time ask to be converted?

From my experience, they won't PC into Cash+ either, but that's about a year and a half old understanding. You're stuck with whatever you're approved with, and US Bank has really abnormally low total exposure limits, so I still recommend having them cancel your approval, waiting until you get freeze confirmations, and applying again.

Really?

What do you mean by cancel approval? They already did a hard pull on SageStream (formerly ID Analytics) & ARS credit bureaus.

It would not just be the Cash Reward card account that would matter. Your entire credit profile at time of consideration would matter.

Call them and tell them you don't want the account rather than risk another downgraded approval when you apply for the Cash+ again. Canceling the account will stop it from eating in to your total exposure limit with US Bank, who requires they issue you at least a $5K CL for the Cash+ card.

Is there a rule of thumb on how long I should wait to apply again like at least 30 days?

My dp's - credit scores range from 720 - 750, 5/12 and 4/6 in cards, have US bank account with balance always more than $5k.
Was looking to apply for the Cash + card, more to have a no AF card + cash back than anything else, since I notice I have only minimal no AF cc's.. Branch person says looking at profile we can apply, but seems US Bank is quite strict with approvals and looks for 6m + of history for all cc's ? If this is the case, believe I should not apply for it now..
Any dp's to the contrary ? Can branch folks have recommendation authority on these matters ?

Thanks

Always wanted to get this card. Tried to PC from Flexperks, they denied. But now it has $150 bonus at least, it had none before. Maybe I should apply now? I have Flexperks, Altitude Reserve and Club Carlson business.

I'd go for it, especially now that they added utilities (electric, gas, etc. but not internet and cable) as one of their 5% categories beginning in April.

Yes, that's better than bookstores, but my utilities spending is around $50-100 per month, so not much of a cashback. I was mostly looking at electronics, department, sporting goods and furniture stores categories, which are not covered by my other cards.

What is your CL on your Flexperks? Cash+ is a Visa Signature card, which has a minimum CL (I'm not sure what it at US Bank, but at some other banks it's $5k CL minimum).

And was it Flexperks Visa, or another type of Flexperks?

And how long had you had it open? (Many banks these days refuse to PC a card that's been for less than a year.)

I was able to PC a no-AF legacy Flexperks Visa (which had started out as a NW Visa) card to Cash+ a week or two ago, but then I had a CL well above $10k on the Flexperks (even though my Flexperks was not a Visa Signature).

You have to pick what works best. If you plan ahead for those one time purchases (like furniture - unless you are constantly buying furniture lol) then this could really work. For me utilities are higher and always an outlier in terms of having no cards that cover them. In terms of electronics and department stores I used to pick those categories around the holidays, but then Amex or Freedom or Discover would have offers or Amazon would have offers and I'd end up not using the Cash+. With utilities I know nobody else is going to cover it so I know I can always count on getting a return on that.