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US Bank Denial ARS SageStream
In celebration of the U.S. Olympic team’s medal performance at the 2016 games in Rio, US Bank recently upped the bonus on their FlexPerks Travel Rewards Visa for applications through September 3. The increased bonus was based on the overall medal count and ended up being 34,800 points or 74% more than the normal 20K amount. This was more than enough to get me to apply.
A Few Other Apps
Due to Citi’s new rules coming into effect and the release of the Sapphire Reserve, I also applied for other cards around the same time. US Bank generally runs your credit report from a traditional bureau such as Experian, Equifax or Transunion (they ran mine from Experian) and a secondary bureau such as SageStream or ARS.
What SageStream and ARS do is monitor how many applications have been made under your social security number. Too many recent applications and US Bank will generally issue a denial. Well, as you may have guessed by the title, I applied and received the following piece of information in a letter:
We regret we are unable to approve your application at this time due to numerous recent applications using this social security number. Our decision is based in whole or in part on information obtained from the following consumer credit reporting agency/agencies:
Advances Resolution Services, Inc. (ARS)…
Stupid or Lazy?!?
Anyone who has been around this game for awhile is SCREAMING at their computer screen saying how stupid I am. You bloggers and all of that. 🙂 To be serious for a second, they might have a point. This sort of denial from US Bank has been well known going back years. More importantly, it isn’t too hard to freeze your reports with the secondary bureaus to block US Bank from getting this information.
So why didn’t I freeze my ARS report?
- Unlike others, I have always been approved by US Bank even with other recent applications. In other words, these secondary bureaus never hurt me until now.
- I don’t apply for a lot of cards from US Bank.
- Most importantly I was just being lazy. Not a good excuse.
Should You Freeze?
I think it is probably a good idea for everyone to freeze these two bureaus to give your future US Bank applications the best possible chance of approval. Yes, you could possibly get through like I had in the past, but eventually not freezing them will probably come back to bite you in the behind.
Both bureaus can be frozen either via certified mail or fax. Here are two great resources with sample letters and the full details on how to do it.
We all let things slip through the cracks and make mistakes that cost us, but this one stings because it really was just me being lazy. I had meant to do this forever and even meant to do it at the beginning of the Olympics promo so the freeze would be in place before my application, but life got in the way. Oh well. Live, learn and do better next time. Now I’m off to go send those letters. US Bank I’m coming for ya.
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