Posted by William Charles on February 4, 2016
Credit Cards

Published on February 4th, 2016 | by William Charles


22 Things Everybody Should Know About US Bank Credit Cards

US Bank doesn’t have the the most enticing credit card offerings, but they do have a few credit cards worth applying for. Before doing so (or if you already have one of their credit cards) there are a few (

  1. Before applying for any US Bank credit cards, you freeze your SageStream & ARS credit reports. US Bank checks these reports, but it doesn’t seem to help in the approval process at all, just another reason to deny you. Although you will need to have these unfrozen when you sign up for a US Bank checking account (they sometimes offer promotional bonuses, don’t need to be unfrozen if applying in branch).
  2. US Bank allows you to view your pre-approved offers before applying. This can be useful for people that don’t have great credit, just remember that this doesn’t guarantee pre-approval.
  3. There is at least one data point of US Bank merging multiple inquiries in the same day into a single hard pull. That being said, US Bank is quite difficult to get approved with.
  4. There is no hard limit to the amount of US Bank credit cards you can hold. But keep in mind that the more cards you have with them, the more difficult it is to get approved.
  5. If you are denied for a credit card with US Bank, make sure you call their reconsideration department. You won’t always get approved, but it’s worth a call anyway. If you haven’t called reconsideration before, read these tips first.
  6. US Bank won’t agree to pull a different credit report if you have the one they want to use frozen. You can’t eve  give them a PIN to access the frozen report.
  7. It’s possible to churn US Bank credit cards. Just keep in mind they are such sticklers when it comes to approval.
  8. US Bank reports your credit utilization based on what it is on the 1st of each month. This is useful to know if you need to reduce your credit utilization for FICO score purposes.
  9. You can also change your statement closing date. It might make sense to change it to just before the end of the month, that way you’ll always show a low balance (as mentioned above).
  10. When it comes to credit limits, US Bank is quite weird. They will usually do a soft pull when using the online form or via phone but this is no longer always the caseFor reallocations, they don’t seem to offer them anymore
  11. If US Bank increases the sign up bonus of one of their cards that you’ve recently applied for, they should match it. US Bank don’t mess with their sign up bonuses often, so we don’t have a lot of data on them but it’s worth a try.
  12. If you cancel your card within 30 days of the annual fee posting, they’ll refund it for you. Can be useful if you forget to cancel the card before the annual fee hits.
  13. You can’t product change between brands (e.g Club Carlson to Cash+). If you do want to downgrade a US Bank branded card, then the Cash+ card is likely to be your best option with your choice of 5% categories (even if most of the good ones are gone).
  14. US Bank offers a referral program. If you want to refer one of your friends to one of their cards, then you can get a bonus of up to 10,000 points per referral.
  15. When meeting minimum spend requirements, the clock starts when your card is approved.
  16. Spend on authorized user accounts doesn’t count for minimum spend requirements. Only spend on the primary card counts.
  17. US Bank will usually waive the annual fee on FlexPerks cards when calling retention. Actually they’ll just give you enough points to offset the annual fee, but same difference really (actually a little better since you could pay the AF in cash and then use the points to get more than that value in travel redemption).
  18. It’s not possible to get sign up bonuses paid out earlier than expected. So make sure you apply with plenty of time before you want to redeem those points/miles.
  19. US Bank waives the fees on their checking account if you have one of their credit cards. This is useful when they are offering a sign up bonus on those accounts. Personal credit cards will waive the fees on personal accounts and business credit cards will waive the fee on business accounts.
  20. US Bank doesn’t report business credit cards to the personal credit bureaus which is useful for keeping your credit report cleaner.
  21. You cannot check your application status with U.S. Bank online, instead you must call them on (800) 947-1444.
  22. If you have auto-pay set up with U.S. bank they will pay the full statement balance if you make a partial payment, we’re unsure what they will do if you make the full payment. 

You can view other posts in this series by clicking the links below.

If you want to discuss any of this in the comments, please do so. I’d recommend not referring to each item by it’s number, as that changes as we add in more/remove others.

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Please do this for other banks too.

We have many other banks already, linked at the end of the post.

Having a US Bank credit card comes in handy when going for their checking account bonus, since they waive monthly fees for card holders.

I am pretty sure US Bank reports the balance on the last business day of the month, not the 1st.

So if the calendar works out
Friday – 30th
Saturday – 31st
Sunday – 1st

They will report the Friday balance

So if the situation is Friday 29th, Saturday 30th, Sunday 31th and Monday 1st, they will report balance of Friday 29th?

Point 10: Reallocation of CL with US Bank is soft pull. Manager approval still applies, results are instant.

Points 16: For US Bank Flexperks card, they will give you the points equivalent of the annual fee as retention, so you can redeem those points to cover the annual fee. Been doing that every year since the Olympics bonus

I have gotten a retention bonus on my flexperks AMEX. Fee waived for the first year (standard) and also the second year (retention). They did ask me why I would like one and I just made up some stuff about how it is my last year in college and how I don’t like their reward system as other credit cards. (Maybe they gave it to me since I am about to be out of college and they want my business in the upcoming months. I have been banking with them since I’ve been a baby and they gave me huge CL on both of my cards I have with them.)

18. Money spent on an authorized user account will not qualify for minimum spend required for a sign-up bonus. Only money spent by the primary account holder will count.

I knew this was true for business cards but are you sure it’s true for personal cards too?

You don’t need ARS/SS frozen to open a bank account- at least in branch.

Meant unfrozen.

I surprisingly received a retention bonus of 5K points on the Flexperks Visa. It took two calls with a manager and a few days of waiting for a return call before the retention bonus was offered. Had the card for 7 years and a good relationship with the bank.

hi, i have a us bank aeromexico card, do you know if i can downgrade to a regular us bank credit card ?

For my first card, the flexperks Visa, I had to call 4 separate times before finally being approved. Call until they give you a firm no and are unwilling to resubmit (I’d want to hear this from multiple reps before quitting) Since then I’ve added a business flexperks and just got the amex.

they told me i have 30 days (unlike 60 to 180 days with other issuers) to pay fee or not pay fee to cancel the card so I waited and was out of the country and was late for fee payment by 2 weeks. Was charged late and interest fee of $31. STill paid $75 but the 2 supervisors I spoke to says I missed out on the 40k renewal bonus cos I was late for annual fee payment and paying fee now won’t make difference.

I will do what I can do get the renewal bonus and cancel this card for their pathetic customer service

I have four US Bank credit cards, and here are some more data points.

First, a credit line move is a hard pull. It just happened to me last week.

Second, the referral bonus sucks, and the offer match sucks. I referred a friend about a year ago, and sent an email to them for my referral bonus. They asked for some information, and then replied an email which totally made no sense. Also, they called me to ask me to apply for Cash+. Two weeks later I saw a $100 sign-up bonus (previously no bonus). The offer was right online, and I called three customer reps. All of them said that the offer was not for me (a public one not for me?). I said I will close the account, the reps simply said it is up to you.

In general US bank sucks. The only reason I keep it is due to the FlexPerks card.

I didn’t do the freeze and am a pretty heavy churner. Approved with no problems for the US BANK Flexperks. The conventional wisdom is prevalent that you must freeze, but take it for it’s worth.

This is my experience regarding points 3, 7, and 11 (the experience intertwines the three).

I applied for the US Bank FlexPerks Amex (with annual fee) last year, and I was approved with a bonus of 20 000 points after spending $3500. I was foolish enough to not check my pre-approved offers until after the fact, and I saw that there was an offer for the same card for the same points but with a minimum spend requirement of only $500.

I called them up, but they couldn’t match me to the better offer because it was targeted. However, they said they would immediately cancel the card and that they’d submit a new application with me while I was on the phone. I was approved with the same credit limit and everything, and I received the bonus after only needing to spend the lower amount.

That indicates it’s possible to be approved for the same card twice, and I spoke with a representative who told me that it’s possible to get the bonus so long as you’re approved.

I then applied for the Korean Air card and was also approved.

I only had one credit inquiry (well, two because they pulled from two different bureaus).

That means they do combine inquiries, they do allow churning (if the representative is to be taken at his word, but you know my experience with representatives), and they do allow matching of offers (although in my case, the method by which they matched me was weird).

Regarding point 6, I have some information that might be useful but is a little tangential. I had a freeze on my ARS and SageStream reports, and I applied for a checking account. They called me up and informed me that I would need to either lift the freeze or go in person to verify my identity to approve the account. I was able to send an email to a manager with my PINs, and they were able to approve me.

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