How I got APPROVED for the US Bank Altitude Reserve Credit Card
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- Опубліковано 25 чер 2024
- The US Bank Altitude Reserve card was one of the most involved credit card applications I have ever done! As someone who was not a US Bank customer, I knew getting approved for my first US Bank credit card would be a challenge.
But with careful planning and focusing on concepts from personal finance and credit score fundamentals, I was able to optimize my application and apply for this card with the best approval odds possible!
I optimized my credit card application in 3 different ways. The first was establishing a relationship with US Bank since this is one easy way to have a more favorable credit card application. Generally speaking, a checking account open for at least 5 days should be the absolute minimum, but having an account open for 2-3 months is usually better.
The second was gardening my personal credit report with no new accounts and no new inquiries in the past 12 months. In general, US Bank likes to have at most 0-1 new accounts and new inquiries in the last 6 months, but of course, exceptions apply, and your mileage may vary.
The third was optimizing my credit score using the All Zero Except One (AZEO) method. By doing this, I was able to give my credit score a short-term boost in preparation for this application.
With these three parameters optimized, I applied for the US Bank Altitude Reserve card, and check out the video to see what happens next!
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Chapters:
00:00 Intro
00:32 1. Start US Bank Relationship
04:12 2. Credit Card Gardening
06:04 3. Optimize Credit Score (AZEO Method)
07:50 Watch Me Apply!
10:36 Final Steps
13:34 Outro
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Note: This description contains affiliate links, meaning that I may earn a commission if you click through these links and successfully apply, sign up, or buy the product or service mentioned.
Disclaimer: I am not a financial advisor, accountant, or lawyer, and as such, I do not provide financial, tax, or legal advice. This video and any ideas presented in it are opinions and are provided for entertainment purposes only. Please do your own research and consult your own financial, tax, or legal professional for specific advice.
#creditcard #usbank #creditcardtips
Let's go Stan!! Congrats! 🎉 I'm super excited you got to pick this one up. This is a severely underrated card in my opinion, so I'm happy to see that you'll be getting some hands-on experience with it to share with people.
YESSS!! Thanks so much Spencer!! I am super pumped for this card, especially because of other issuers (not naming names) has been doing some pretty questionable things lately. Definitely a severely underrated card, and it's going to be awesome since this will now be my primary card in my core setup moving forward! Will definitely have some experience-shares coming soon!
Congrats on the new CC 🎈🎉🎊!!! Thanks for the info + video!
Thanks Jimmy James! Always appreciate your support!! 🎉🎉🎉
Great video Stan and congratulations on the approval for the Altitude Reserve! What a tough card to get approved for but I think it’s well worth it. Thanks for sharing your detailed datapoints and preparation process as well!
Thanks so much Josh! Yes, definitely a lot of prep for this particular application, but I think it was well worth it - especially when the application went through that manual review process! This card is already worth it, but after that approval process, it's going to be sweet to start using this card 👍!
Congrats Stan on the new card that was definitely methodical thinking and preparation to get the card. Nice job and thanks for sharing keep that content coming
Thanks Clausell! Yes, it was definitely a lot of preparation to end up getting this card. Glad you enjoyed the video, and I'll definitely keep more content in the pipeline 👍!
What a journey to get this card for you!! Glad you were approved and shows to “keep your eye on the ball”
For sure Ninja! Thanks so much - yes, always make sure you exhaust every avenue - both before and after that application!
Congrats on the new card Stan! US bank is a tough lender to deal with, but you had some great data points in ways to deal with it!
Thank you Eric! Yeah, I'm really happy that US Bank gave me a chance. I will now reward them by spending all my money on their card so it's a win-win 🤣!
Thats awesome stan that you got approved. Congratulations on the new card. Needless to mention that I love the breakdown and strategy! 💪🏻👍🏻
Thanks Emmanuel! Yes, I'm super excited that I got approved for this card. Definitely had to work for this one, but I think it'll definitely be worth it. Appreciate it bro!!
Way to go! I'm glad you were able to get the card that you wanted.
Thanks Juan! Yes! I'm pretty happy since it's the card I was the most worried about getting
Nice detailed video Stan!
Thanks JP!
This is just a quick message for EVERYONE watching you DONT!! need any prior banking relationships you DONT need to have a checking/savings account with thousands of dollars i applied for this card yesterday and i was approved with 10k they pulled my Equifax report and the only other credit card inquiry i had was from December 2023 this application is just like any other credit application.
Congrats on the new card! My experience was clearly different than yours.
@@TheCreditFrog indeed i was actually hesitating on applying for it because I had seen your video but I just took a chance and I got approved.
Congrats Stan! 🎉Just got under 5/24 this month still deciding on if I want a chase card first. Capital one denied me for venture x in their pre approval tool due to “too many revolving accounts”. Lol Like you, I have no new accounts in over 12 months and current US bank CC holder so may just pull the trigger on this card instead!
Thanks David! Congrats on getting under Chase 5/24! It's such a long road .. haha! If you have no new accounts in over 12 months (and you're a US Bank customer already), it may be worthwhile to at least consider this card! 4.5X on mobile wallets can be a great multiplier to have, especially if you live in an area where mobile wallets are accepted pretty often! You probably have a better shot than me as a new customer! You never know when you'll be in a 0/12 position again!
Stan, your kicking mad knowledge ✊🏾
Of course! This card is SO GOOD, so I want everyone to know how to get one!
Welcome to the club Stan 🙏🏽🙏🏽🥵🥵 I remember telling you in your beginning days to make a video about the Altitude Reserve. Nice to see you have applied and got approved for it 🙌🏽
Thanks Eduardo! Yes, I remember that hah! I’m super pumped to have this card after using my current setup for so long. I think it’s going to fit a lot better with my spending habits. Thanks for being a longtime supporter, and I’m happy to be in the USBAR club!!
@@TheCreditFrog was here before 600 subs! 🙏🏽
Congrats Stan!
Thanks Chad!
Thank you for your help with the US Bank Altitude Reserve Card. I opened a CD today at US Bank and will look to apply for the US Bank Altitude Reserve in September.
Of course Frank! Gotta start gardening that relationship now! 👍
Bravo Stan👏🏾 U left no stone un-turned in this process👍🏾
Thanks so much Nkosi! That's how I like to roll 💯
@@TheCreditFrog 😄indeed
Nice video! Was hoping to see an unboxing and weighing
Thank you! Unboxing video coming soon
Nice Moves Stan!!! I'll be curious how the card fits within your set up. I look forward to a 6 month review or something similiar!!
Thanks Uncle Luke! This card is going to be my primary card moving forward. I think I'm going to get a ton of value with it since I don't travel nearly as much as you do (internationally). I moving more towards Team Cash Back with every application 😳!
@@TheCreditFrog that’s exciting!!!!
Congrats, Stan! I was waiting for this video! This just goes to show that you could have a clean credit profile and you can STILL get denied based on an algorithm's decision and not a real human - ALWAYS call recon!
Can't wait for that unboxing video next!
Love your content.
- Ivan
Thanks Ivan! Yes, it's unreal that I did all of that, and I still got flat out denied 🤣. Very expected by US Bank though. Just goes to show how important each little piece is, and how all that probably played a huge role of getting approved when the manual review was done. Unboxing video definitely coming soon!
Stan the man!!! How exciting man! Congrats on your new card. Would a US business card follow next?
Thank Chris! Appreciate it bro. There's going to be another card to follow, but it won't be a USB business card!
I pulled the trigger and applied on Saturday 3/30 and got the we need to review your application in 7-10 days today 4/1 I got the congratulations email with a 10K CL no prior account I was super surprised and super stoked can’t wait to rack you the 3x on all my mobile spend
Hey congrats on the new card 🎉! You're going to love it! The mobile wallet is super good, and coupled with 1.5X Real-Time Rewards, this card gets you such great value for your everyday spending. Look out for the welcome offer counter, which is super helpful so you know when you're getting close to meeting the MSR!
Welcome to the USBAR club! Iv had nothing but praises for this card especailly for overseas travel. Only thing i can say though, the reps have never seemed to be knowledgeable/capable to handle the 325 credit. Mine activated when i used a tire pump at a walmart and they didnt understand the issue😂
Thanks Sendo! Yes, this card seems so awesome overseas getting you a crazy high multiplier on a VISA card (no worries about carrying Amex around). Haha, and yeah, this travel/dining credit is pretty easy to use, which to me, is definitely a good thing!
Gratz Stan. That's a lot of hoops to jump through. I don't think I could do it. Let us know how you plan on using the SUB.
Thanks Chad! Yeah, US Bank makes you jump through so many hoops!! Yeah, for this SUB, since there are no transfer partners available, I plan on just redeeming against my future purchases at 1.5X with Real-Time rewards. Super easy - and I get immediate value. Looking forward to it!
Hell Yeah. Good job!
Thank you!
You are the man Stan.
Thank you!
Congratulations! I actually just got approved, myself. I am just starting my CC journey, so maybe the low velocity helped because I had no prior banking relationship with USB. Glad to have what appears to be a long term keeper!
Edit: I was 3/24 and 1 hard inquiry in last 6 months. Fico Credit Score was 812
Very nice! Yeah, I think US Bank (for whatever reason) is easier on people that are newer in their credit card journey. And yeah, so that's about right with having only 1 hard inquiry in 6 months. Very good credit score for someone who's just starting out. Congrats on the new card! This is a long-term keeper for sure! Glad you got this one early on because it's the best card out there for mobile wallet purchases!
Hello, from Oregon, US Bank is a leading bank in this state. I really appreciate the time and effort, this is so educational. I'm no where near the credit tier, however I can still have a plan for future applications. Thank you for the video NEW SUB!
Hi Joel! Of course, glad you enjoyed the video, and thank you for the support! US Bank is an underrated bank, and they have some pretty incredible credit cards. It's hard to get started (easier if you're earlier in your credit journey from what I hear), but once you're in, there's a lot of great credit cards to choose from!
@@TheCreditFrog Thanks again.
Welcome to the team
Thank you! Happy to be here 🙌!
Hey Stan I just applied to this card after watching your videos. I got approved through the phone instantly with a 23,500 credit. I’m new to the card game. But I have been a U.S. bank customer for years now.
Hey Jay! Congrats on the new card 🎉! I'm pretty sure having that relationship with US Bank probably helped out a lot! Very nice CL as well. You're going to love this card. It's my personal favorite credit card at this point!
Thanks Stan looking forward to more content from your channel!
Congrats Stan. I know how much you wanted this card. Trust me, the effort is worth it, as it is the most used card for me and especially for P2 as when in doubt she can use this card in person for 4.5% on all Gpay/Apple pay purchases. Also it is practically 4.5% on all foreign spend when you use Apple/Google Pay overseas in Europe and other places... BTW, I guessed it correctly in your poll. Got card through Recon!. I went through same process with my USB AR even the Recon call was exactly the same experience. Dont forget to ask for Retention off of 5k points as soon as your annual fee posts....
Thanks so much! I knew you were waiting for this one. I'm happy that I'm able to join you with this card since this also will end up being my primary credit card as well. With Apple Pay everywhere in my area, this is a fantastic add to my setup - and like you said, it works internationally too! Nice work on guessing correctly! US Bank is so harsh that I'm surprised that anyone gets approved on the first go. Thanks for the tip on the retention offer! Wasn't even thinking that far ahead, but now I'm definitely going to remember that!
@@TheCreditFrog Another pro tip is that if you set up this card as default payment for Uber and sign up for real time rewards. Any purchase you make on Uber, including Uber eats or rides, You will get an immediate text to redeem points at 1.5 cents per point. It is so easy to get 4.5% back on all mobile wallet purchases this way. So whenever I redeem my Amex credits I use this card to pay the remaining amount and redeem USB AR points as and when I earn. Same with Uber rides.
Smart of you to first open up that U.S Bank Checking Account to establish that relationship before applying for the Altitude Reserve. Also cool to get that $300 bonus as well! After going through some Recon steps, congrats on the new Card Stan! I also think the US Bank Altitude Reserve is super underrated so it'll be exciting to see the value you get out of it. Great video as always!
Thanks Matt! Yeah, had to get that USB Checking Account up, and I was pretty lucky to have that bank account bonus on it when I did. I'm super pumped to use this card moving forward since it really fits my spending habits a lot better than previous cards. I'm always calling up recon because I gotta fight for these cards for some reason, haha!
Have 13 cards, I haven't been denied yet but also haven't seen an instant approval in years. I'm sure I'll eventually be calling reconsideration lines too. Glad you eventually got it. US Bank makes you jump through hoops to get cash back but their payout rates are great.
I can see that Brady. Sometimes it takes a little push to get that pending to turn into an approval, or even a denial into an approval! I wish US Bank would give out more automatic approvals, but as long as you know how to navigate the system, I think you'll be good to get this card! Hope you can go 14/14!
Great video. I dont know why you don't have more subscribers
Thanks David! It's ok, that means I can spend more time with the subscribers I already have!
Congratulations Stan on the approval, US Bank did made this card powerful like Amex did with the Aspire.
Thanks Abdullahi! This is indeed a very powerful credit card!
Congrats on the new card Stan 💥 US Bank and their credit cards doesn't seems to be talked about much in the community even though I think they have great cards. Thanks for being transparent and providing a great vid !
Thanks Mike! Yeah, US Bank has a lot of great cards so I'm looking forward to exploring their ecosystem now that I have a (more firm) foot in the door. Glad you enjoyed the video - appreciate you!
Congrats Stan! Could you explain the ally transfers more? Was it a simple bank transfer and US bank just counted it as a direct deposit? Easy as that to hack that requirement? Or was there more to it that you got it to look like a direct deposit somehow?
Thanks AP! Yeah, it's pretty much a simple ACH transfer on two separate days using Ally Bank to "push" the money into US Bank (as opposed to having US Bank "pull" from Ally Bank). There wasn't anything else that I did to have it count!
@@TheCreditFrog got it, thank you!
Hey Stan! Love your content!
Question: do you think the approval odds for the USB AR are higher for establishing a banking relationship vs opening a lower tier credit card with them?
Was thinking I could either get a lower tier one, wait at least 6 months and get the USB AR, or product change up to the USB AR?
Thanks!
Thanks Chris! I don't think there's a difference, but not sure. I would just say that opening a checking account is pretty easy as compared to a lower tier credit card since then you have to go through with the hard inquiry and new account on your credit report. But once you're in with either case, you have a relationship!
You could go PC route also since I've heard you can still get the welcome offer when doing this, but I would check first, of course!
Man i love seeing how methodical you were in this app! Looks like it paid off ! 👏🏼👏🏼👏🏼
Thanks so much Doc! Yes, it certainly did!! 🎉🎉🎉
Let's go Stan! 🔥🥳😎🥳😎🥳🔥
Thanks Jay! 🎊🎉🎉🎉🎊 💯
I ended up getting the Cash+ card first, then applied for the Altitude Reserve a year later. I also had to get to a reconsideration line but got approved with a $20K credit limit. Not easy, but do-able!
That's a great way to do it! Yeah, as long as you have some relationship with US Bank, that recon conversation would be a lot easier to get approved after a denial! Happy you were able to get a US Bank Altitude Reserve
Great video, Bravo! Im thinking about getting my first card with US Bank. Ex 778 2 Inq. Last 6 months with only 1 account opened. No banking relationship. Thoughts on approval or should I stick with applying for the Autograph card? TIA.
If you can get this card, I highly recommend it! Everyone is different, but to improve your odds, I would at least open a checking account and have it open for at least 5 days. Nothing is guaranteed and you may get approved without it though. YMMV!
I have had the card about a year, and am interested to see if they will offer any retention offers. Just as a data point I was surprised in Denver in April I booked a car rental through the us bank portal and it was way cheaper that auto-slash, and other ways I have rented cars before and I was able to use the 1.5 cent redemption.
Nice Tom! Yeah, I heard that they do, so definitely phone them up and see if one is offered! And that's great to know that the USB travel portal has some good deals!
Thats awesome congrats! Always amazing how an algorithm will deny you, yet an actual human is needed to correct that error. Great video!
Thank you! Yeah, the US Bank algorithms are very conservative, in particular. I'm pretty sure the prep was super helpful when my application was forwarded to their manual review team!
Data point: When I applied for the USBAR, I had 4 new personal cards in the prior 12 months. Instant approval.
With that in mind, I had a long relationship with US Bank (Checking account for 20+ years) .... not sure how much that was a factor.
Interesting data point! Usually with that many cards, it's an instant denial, but that's awesome you got approved. As USB is a relationship bank, it wouldn't surprise me if your decades of history helped in the approval process! If it wasn't for this card, I wouldn't even have bothered to have an account with them!
A mix of bank account bonus and credit card! I should really look into bank bonuses.
Yes! This was a perfect opportunity to combine them both into one video!
So they pulled experian. Im in cali as well. I guess i will have to wait to get this card with 8 inquires last 12 months lol
Haha, dang! You’ve been putting in some work! Yeah, probably best to garden and cool off for a while!
@TheCreditFrog got approved ! Got the 7-10 days message. Called the status line and approved. All the inquires were from chase biz cards. I'm happy!
@tooeasy4217 that’s awesome!! Congrats on the card!! 🎉🎉 You’re going to love it!
I do see they offer $325 dining credit for offset that $400 AF but it’s monthly credits like Amex does ? Or you can used it all up in a month if you wanted to ?
The $325 travel/dining credit is one of the easiest credits to use, kind of like the CSR! It's annual (every cardmember anniversary) and very flexible! I've already used the entire credit!
How did you know ahead of time that the ACH would count as a direct deposit? This doesn't work with some banks, like SOFI for example, if not coming from a authorized payroll provider.
I actually researched a little bit on Reddit first, and there were some DPs that showed that pushing from Ally would register as a DD with US Bank. I agree though, every bank is different so you have to do research on the specific ones that make it difficult with their direct deposit requirement. I was sort of holding my breath in my situation because it took more than a month to process for me, but luckily it worked out!
I have seen a lot of credit cards change their annual dining credit to monthly credits and you have to remember to use or lost it each month. Is there any indication the altitude reserve will do that in the near future?
I don’t think so. This card has been out for a while and there’s been no indication that the credit on this card will be changing. I sure hope not because it’s one of the most flexible credit card credits out there!
I smell an unboxing video in the near future.
Haha! You have a great sense of smell!
@@TheCreditFrog After you get a chance to familiarize yourself with the working of the card, a nice detailed analysis of how easy it is to earn and redeem points would be great. I’m on the fence with this card and the chase sapphire reserve for some upcoming international travel. Can the points on the USB AR be redeemed as easily as chase since they don’t have travel partners. Thanks and great channel…Dr??
@@SpartanOfFinance Of course! Yeah, I've done a few smaller reviews of this card, but a full working breakdown would be great! Earning points on this card is super easy with mobile wallets and I hear that the $325 travel/dining credit is also super easy to use as well. I think it comes down to cash back vs. transfer partners. Clearly the CSR has more flexibility in point redemption where US Bank can only really do cash back. Having said that, getting 4.5X points back on mobile wallet purchases (aka almost everything) is pretty amazing! Appreciate the support. And yes, I'm a doctor, but you don't have to call me that on UA-cam. Stan is fine 👍!
@@TheCreditFrog Well after careful consideration I applied this afternoon and was approved for 10k. It’s actually one of my lowest credit limits but I can’t wait to try it out and hopefully it lives up to the hype!
@@SpartanOfFinance Congrats! That is awesome! Enjoy the new card!! You'll probably be able to unbox the card yourself before mine comes out 🤣
Great video, Stan! Question for you. I was thinking about applying for this card. I would first of course try to sign up for a US Bank checking account, before applying for the card. Now, as of 12/5/23 my credit report would look like this: 0 new cards in the last 2 years, but a fair number of hard inquiries in the last 2 years: 6 Experian, 4 TransUnion, 2 Equifax. Credit scores well over 800, high income. On those inquires, in the last 6 months it would be: 2 Experian, 1 TransUnion, 0 Equifax. What do you think my chances would be?
Hey Jim! Great question - ultimately, your guess is as good as mine, but I would say US Bank makes it harder for people with higher credit scores / higher income to get approved just like Capital One. I think having a checking account would definitely tip the scales heavily in your favor. If you can get into their Smart Rewards program like I did, that may be helpful too. I think the hard pulls are acceptable given you haven't applied for a new card in 2 years, provided you've established a relationship with US Bank (2 months minimum). If you get auto denied, make sure to call reconsideration like I outlined in this video. Best of luck!
Thank you!@@TheCreditFrog
Where did you get the business gold 10k in 6 month offer? I can only get 3 month offers.
I got this back in May of this year. Not sure if it's around anymore, but it was pretty prevalent back then, in addition to a 130k for $10k spend in 3 months as well as the standard 70k for $10k spend in 3 months. I picked the one in the middle.
I have this card scheduled to be applied for in 2028. I plan on having 0/12 on new accounts and inquiries before hand. I’ll be applying for the US bank cash plus card in 2027 to get the relationship started.
You, Jeffery, are a planner! But yes, having 0/12 new accounts and inquiries will likely elevate your chances for an approval as well as a banking relationship! The Cash Plus is such a great 5% card, highly recommend, and a great way to start building that relationship like you said.
Another question, when filling out the app it asks for gross sales and your income so what percentage of your gross business sales do you put as your personal income if you're not paying yourself?
It sounds like you're filling out an application for a business card. You would input your gross income from your business for business income. If you do not pay yourself with business income, I would say that your gross business sales wouldn't count towards your personal income, but it depends on the situation.
813 credit score, $114,400 income, 1/24, no previous relationship with US bank prior to USBAR application. Applied, got told I’d hear if I was accepted in 3-7 business days. I called on day 4, they said it was denied. I asked for a reconsideration, got an approval after 3 more days of waiting. The only downside is it’s only a $5k limit 😬😬😬- have you experienced a CLI with US Bank yet? I’m thinking of applying for one in 6 months. I get my card this Wednesday!
Hey Congrats on the new card!! 🎉🎉. Yeah US Bank does not give out those approvals easily and it’s often a journey. Sorry that you had a low CL to start, but at least you’re in! Planning for a CLI in 6 months is a good idea since you unfortunately can’t transfer limits between cards within US Bank. It will probably result in a hard pull, but yeah I’d try to get that CL up since this card is great for a lot of those everyday purchases!
@@TheCreditFrog absolutely! Congratulations on yours too! Most of my cards are $15-25k, it’s by far my lowest card but it’ll have the MOST use. I’m sure after my usage in 6 months I’ll be able to get somewhere with a CLI so I’m not wrecking my utilization just from normal spending 😭😂
First😊
Congrats Ahmad! You have won first 🥇!!
You made me want to get this card but it looks like such a pain in the butt. Opened a checking account with them today (too bad the $300 bonus is no longer available)
If you can get it, it's totally worth it! My current favorite card right now. Lots of great 1.5X travel redemptions so far on those 3X mobile wallet expenses! 👍
@@TheCreditFrog too bad that there aren't enough videos about this card. Everyone wants to talk about Amex, Chase, WF and Capital One. Not enough love for US Bank, BoA, Citi and Navy Federal
Hey Stan now that you have the US Bank Altitutude Reserve, you should perhaps grab the US Bank Cash+ as well? 5% back on utilities and another 5% category (I chose Electronic Stores). Can the US Bank Cash+ points be transferred to the Altitude Reserve card for 1.5x on travel portal?
Hey Jennifer! Yeah, that card is definitely the next US Bank card that I want to get! Sadly, the Cash+ points can’t be transferred to the AR, but it’s still a great card on its own!
@@TheCreditFrog Hey regardign that 4.5x back real time credit (via texting), is that for any purchase or just travel related purchases? Does the 4.5x credit need to be applied towards a travel related purchase? What if I dont' really ever travel can I still get 4.5x cash back with apple wallet using this card?
@jenniferw8963 The 3X is for all purchases, but to get to the 4.5X level, the points have to be redeemed for travel purchases, namely airfare, hotels, and car rentals. There are other travel-adjacent categories too, but those the big 3. Otherwise, RTR will only be 1X so you’ll get 3X back on MWs in that case
Are you able to use the card before the physical card arrives?
I'm not entirely sure because I got auto-denied at the beginning. When I got approved after recon, I got the card within 2 business days, but I don't remember having the option of using the card before the physical card arrived!
ally savings or checking to mimic direct deposit?
Checking, but I’m pretty sure savings would work too!
I spent months and months and months to get a credit card 😂 that’s next level
Gotta have a plan!
Congratulations
Thank you!
@@TheCreditFrogyw
What documentation did they need to push your application through sir? I’m currently using these DPs to apply for the USBAR next year once under 0/12
They didn't ask for any documentation, per se, but they did ask me some basic demographic questions like my name, address, SSN. I think the questions were to mostly confirm my identity. Yes, definitely use my experience to help you out! Hopefully, you get auto-approved, but US Bank tends to auto-deny often but calling up recon can get that decision reversed!
Thanks! This video was very helpful so thanks for sharing. Do you junk in ok to apply once at 0/6 or shall I wait til 0/12? Currently at 5/24
@@zyzzuschrist3410 0-1/6 is the most important metric, but 0/12 would help because I've seen denials for this card saying that there were "too many inquiries in the last 12 months" on denial letters.
For the direct deposit howd you get it to reflect correctly? Since it was from another personal account right?
Got an offer in the mail for one of their accounts but it says it has to be a paycheck or from the govt..
I didn't do anything differently than what was presented in the video. There are many DPs that show that transferring from Ally Bank into the USB checking account counts as a direct deposit. As with anything your mileage may vary!
@@TheCreditFrog okay thank you! Found the Dr of Credit post aboit which banks count as DD, wish me luck hehe! Hopefully itll help when i apply for the card later on.. 🤞🏼
So external transfers from another bank count as direct deposit with US Bank?
Sometimes, it depends on which bank it's coming from. I would check the Doctor of Credit post to see if your bank would be recognized as a direct deposit from US Bank!
I know this is an older video but I’m about to start a relationship with US Bank to one day open a US Bank Altitude Reserve and I want to get the checking bonus so I’m hoping anyone with experience can clarify:
Are all bank to bank ACH transfers considered direct deposits? If not, which ones qualify?
Please see this master list by Doctor of Credit with Data Points, but of course, YMMV: www.doctorofcredit.com/knowledge-base/list-methods-banks-count-direct-deposits
How early in my journey could I get this card? And what if I dont want to open a bank account with them, is it to hard to get approved?
You can get this card whenever you’d like! If you don’t want to open an account with them, it’s no longer a requirement. It will probably still increase your chances. There have been data points with those who have gotten approved for this card without one.
@@TheCreditFrog thank you so much! This card sounds great and I'm considering getting it after I graduate (in college with just the discover it gas & restaurant card and SavorOne)
@ Stan How many personal cards did you have at the time of application?
I had 9
I think we could be friends! I really enjoy your strategies and how you stand out from your peers. I think I want the USBAR now! I have 10 cards now and at 5/24. I won't fall under 5/24 until 12/24 because I just got the boundless (your fault). Do you think I can get it with 10 cards, at 4/24 and 0/12 late next year?
@@boombstc1 Yes, that would be great! I definitely think we could be friends. Looks like we have similar strategies and number of cards! Congrats on the Boundless card - great pickup! I think that if you're 0/12 when you apply next year, you should be good to go! I recommend signing up for a US Bank checking account at some point, hopefully when they have a Bank account bonus, so you can build that US Bank relationship before you apply!
Congrats on the new card! For your US bank checking account, it really counted your deposit from Ally into it as a direct deposit? Been looking at potentially getting that US Bank account to get that bonus but that would make it a lot easier if that actually works and counts
Thanks Michael! Yup, this was the method I used to qualify for that direct deposit requirement. A quick search on forums will show a lot of others have done the exact same thing with similar results! I hear you! Transferring my direct deposit is not super easy for me so when there's a direct deposit requirement for a bank account bonus, I often have to look at other methods to fulfill it.
@@TheCreditFrog do you know if ally works for other banks accounts as well like for AMEX checking account or Capital One checking account?
@@OfficialMichaelGlathar I’m not sure, but you can look up data points to see. I think DoC has a thread somewhere with a lot of data points compiled for multiple banks and if Ally works for the direct deposit requirement when it comes to the checking account bonus.
@@TheCreditFrog perfect will look into that. Thanks!
Hi Stan. I"m confused. Do you know why your transfers were considered a direct deposit? I thought only deposits from an employer or from government benefits is considered a direct deposit. I received an email from US Bank with an offer to get the $300 bonus but the email shows the following: "A direct deposit is an electronic deposit of your paycheck or government benefits, such as Social Security, from your employer or the government. Other electronic deposits or person-to-person payments are not considered a direct deposit".
Hey. Yeah, this is what is stated by the bank, but if you check other data points, others have found other methods to trigger bank account bonuses when it comes to the direct deposit requirement. There's a whole other community out there that deals with bank account bonuses just like we do here with credit cards, and that's where I got some of that information! Using Ally bank is one of those methods that seem to be work pretty well with some banks.
@@TheCreditFrog Interesting. I wonder if that works with banks other than Ally. Thanks for the response Stan.
They don’t offer a checking account in my state 😢
Darn! Yeah, US Bank unfortunately is not available in some states.
Open a CD and then you can (I believe)
what credit bureau did they pull from
Experian
Just like you i got approved but i say but you will receive a letter in the mail asking for irs and proof of income. Just because your credit its new
I don’t think that’s how this works
If I opened 9 new accounts in the last 2 years, would US Bank approve me?? Currently 788 Experian fico score
Not sure, but your chances will be improved if you have 0-1 new accounts in the last 6 months!
I got denied and I have acts with them. Even with leaving 10k sit in the act for 4 months and a 735 credit score....
Sorry to hear that! US Bank can be difficult to crack into, but hopefully you can apply again in the future with an approval. Not sure if you have tried yet, but sometimes calling the reconsideration line can be helpful!
I really want that credit card 😟😟
You can get it, but make sure to plan ahead to maximize your chances!
First!!!
I have won this one, better luck next time!
Almost first CJ! Today you were 3rd 🥉! Or, if you prefer, you were first after Ahmad and Anant 🏆
@@AhmadKhwajazada 🏆
@@AhmadKhwajazada what?!!!! Stop trying to steal my victories 😭
@@TheCreditFrog I’m always first! Those other folks are disqualified for commenting before me. That’s a violation!
You never explained why you wanted this card.
I will explain more in my next video!
Update: it looks like US Bank has closed the "open a brokerage account in order to open a checking account" loophole. The website now requires you to log in as a current customer in order to apply for the brokerage account. I called US Bank and was told that you have to have a checking or money market account in order to apply for the brokerage account. I have applied for both checking and money market accounts, but those applications were denied since there is no branch in my state.
Oh, that's unfortunate Jim. I know you were thinking about getting this card, but yeah, US Bank is only available in certain states. Hopefully they'll be able to accommodate out of state people at some point or maybe there's some other workaround.
🎉🎉🎉🎉😊
Thanks Cristian!! 🙌 🎊
First
Very close Anant! You got 2nd today 🥈!
Bro idk why banks do this auto denying.
I know. It’s so rude.
@@TheCreditFrog I mean honestly, you put in a ton of work and you’d think they see that.
US Bank is just one of those banks that is auto-deny happy. I knew what I was getting myself into 😂
Second
Haha, Jake you made it to 5th, but you'll still get this participation medal! 🏅
Jeez US bank is stingy.
They're generous enough to approve me for this card so I'll take it!