Last month it was time for my wife to go for a new round of cards. All were approved instantly other than the one from US BANK FlexPerks business card during the US Bank Olympic promo. We waited and after a while got a letter that she had to call to give more info for approval.
Now here is the thing. US Bank is a very strange bank. They used to be “it” in the old NWA days. Then, once Delta kicked them to the curb in favor of AMEX for SkyMiles, they came up with their own rewards program, FlexPerks. If you work this program it can mean great discounts on travel. Many of us who apply for a number of cards a year also enjoyed the program for many new cards over the years.
Then they hit us with something new that now just about everyone has blogged about, that is, ARS or Advanced Resolution Services an arm of VISA that checks your phone number as to how many cards you have applied for. The simple solution for a number of years has been to block ARS and prevent them from reporting to US Bank (or any other bank that uses the service) how many cards you have applied for over time.
Now US Bank has taken it a step further and it is REALLY bad news for us. According to a card member investigations rep, they are now refusing to approve anyone who had their ARS frozen. And it gets worse.
If you apply when you have your ARS frozen you must unfreeze it (via this link) and then apply again. This could mean two hard pulls and, depending on the time of an offer, you are no longer able to get the old better offer but now are only approved for the current offer.
But even the latter is unlikely because once you unfreeze your ARS, and US Bank sees how many cards you have applied for in your lifetime, they are very unlikely to approve you anyway.
Talk about being stuck between a rock and a hard place. This is horrid news.
What this means is now US Bank has the worst of all restrictions of all the banks. This means, unlike the 5/24 rule with Chase that if you wait 2 years that allows you to get at least 5 of their cards, with US Bank you will likely be blocked for many, many years to come. And let’s face it, despite a number of very attractive cards, who in their right mind would wait years to just apply for US Bank cards?
Folks, times are getting harder and harder. Chase has their rules. AMEX had their 1x per card lifetime. Citi now lumps cards into a family of cards. All of them are doing something to combat us from enjoying new card bonus offers. But with US Bank – NO – is now the word we can expect to hear! – René
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