Does U.S. Bank Do a Hard Inquiry? (2024)

FAQs

Does U.S. Bank Do a Hard Inquiry? ›

Yes, U.S. Bank does a hard inquiry on your credit report whenever you apply for one of its credit cards. A hard inquiry usually results in a slight decrease in an applicant's credit score, but the effect only lasts for a short period of time.

Be prepared that the review of your credit history will result in a hard credit pull. A hard pull will typically impact your credit score, lowering it a few points for a short period of time.

You need a credit score of at least 750 to get most U.S. Bank credit cards, but the actual credit score requirements vary by card.

Credit Inquiries – US Bank is sensitive to recent inquiries.

Most U.S. Bank credit cards are intended for consumers with good credit, which is a FICO® Score of 670 or higher. If your credit score isn't there yet, U.S. Bank also offers secured credit cards that don't have a minimum credit score requirement.

US Bank will sometimes pull your Experian credit report, but they will usually pull your Transunion credit report when you apply for business cards. If you frequently apply for credit cards, first freeze your IDA/ARS bureaus before applying for a US Bank credit card. See real-time data in our Credit Card Database.

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U.S. Bank may give high credit limits to people with good-to-excellent credit, a lot of income, and relatively little debt, but it does not have any cards that guarantee a $5,000+ credit limit. The highest minimum credit limit on a U.S. bank credit card is $1,000 on the U.S. Bank Altitude® Go Visa Signature® Card.

Who Is U.S. Bank Best for? U.S. Bank should appeal to most customers who want a reputable, long-standing bank with a full range of deposit accounts and financial services. It might be a particularly good fit if you: Want a lot of different options to park your money in a CD.

What score does U.S. Bank use? ›

The credit score you see in U.S. Bank mobile and online banking is a unique score derived from the VantageScore 3.0 model to help you understand your creditworthiness. The model incorporates the same data considered by the three main credit reporting companies (TransUnion, Equifax and Experian).

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Know your banking history

You failed to pay insufficient funds fees after overdrawing your account. You have a history of writing bad checks to merchants. You've committed fraud.

Credit Score and Financial History

Typically, U.S. Bank requires a FICO score of 660 or above for approval.

Yes, U.S. Bank credit cards may give instant approval when you apply for one of their cards online, though getting approved for an account immediately is never guaranteed.

You can get a mortgage with a credit score as low as 620, 580 or even 500, depending on the type of loan. Some mortgage lenders offer bad credit loans with more flexible qualifying requirements but higher costs. Others offer free credit counseling to help you improve your score before applying for a loan.

U.S. Bank pre-approval doesn't guarantee that you'll be approved for a card, but it does indicate that your chances of getting approved are very high if you apply. Pre-approvals do not affect your credit score, as they're done using a soft “pull,” or inquiry.

It is likely Bank of America will make a hard inquiry on at least one of your credit reports. To get a good idea of whether or not you should risk a hard inquiry, attempt Bank of America's pre-approval process. A preapproval will not normally make a hard inquiry against your credit.

The answer differs from lender to lender, but most consider six total inquiries on a report at one time to be too many to gain approval for an additional credit card or loan.