Just spoke with an underwriting specialist at U.S Bank. She informed me that she could not resubmit/reconsider my USBAR application due to their 3/12 rules.
If you have opened 3 lines of credit within 12 months, US Bank will automatically decline you with no chance of reconsideration.
This might be new. Got USBAR a couple months ago with 4/12.
Zayden said:
This might be new. Got USBAR a couple months ago with 4/12.
Did you have an existing banking relationship with US Bank?
Were all 4 new cards personal cards? Were any of them opened in the month or so prior to the USBAR app (in which case they may not have shown on your credit report)?
Is this all US Bank? If so thank god I got 2 US Bank cards last month lol.
Nicholas6 said:
Is this all US Bank? If so thank god I got 2 US Bank cards last month lol.
From what she told me it is an automatic denial if you have 3/12.
Nicholas6 said:
Is this all US Bank? If so thank god I got 2 US Bank cards last month lol.
Same question for me. If so, I’m really glad I held off on opening a BoA PR. I just opened a CCR and a USBAR and going for the Smartly next.
@Kameron
Yup I’m going to try for Smartly but it seems I’ll have to wait. I wonder if it’s the same for PC? I’m genuinely curious.
It’s recommended to be 0/6 and 2/12 or less for USBAR approval. The auto-denial without being able to recon may or may not be true — the rep could just be mistaken, as is common for front-line CSRs at large banks. Worth HUCA’ing to see if you get a more amenable rep.
I’m quite lucky. I got the card two months ago with 3/12.
Kase said:
I’m quite lucky. I got the card two months ago with 3/12.
Same for me.
I have a similar data point and was told the same, although there seem to be outlier DPs.
Does anyone know if business credit cards count?
Lorin said:
Does anyone know if business credit cards count?
Shouldn’t if they are opened accounts as those are not personal accounts and do not report to credit. They only show as pulls.