Consumer complaint received 2022-05-31
Company: U.S. BANCORP
State: GA
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Getting a credit card
Sub-issue: Application denied

Complaint:
My application for the State Farm Premier Cash Rewards Card through USBank was denied. My suspicions reached a level of concern during my interaction with one of the supervisors during my call in today. 

My card was denied for Debt to Income ratio being high when I originally. I was advise that my student loans were the main reason for this and there were no other options due to federal law. The Underwriter advised that the federal law prevents them from giving me the card. I conducted research and could not find a federal law confirming that information. I called back just to verify and the XXXX I spoke to that time advised that they were not familiar with that law, but did advise that my student loans are the reason for the denial as it pertain to the impact it has on my debt to income ratio. 

Last week, I came upon so information that my credit report is showing that my student loan payments were close to $ XXXX. I advised that is not correct and that I am on a income based repayment plan that will put my payments at around {$400.00}. This changed the outlook of my credit. 

Really interested in obtaining the card, I of course called back this past Friday to advise of my learnings and to inquire of if this mishap impacted the decision to deny my application. I was advised that my corrected payment would be sent up to a supervisor to review and I would receive a call regarding the matter. 

Today, I placed a call back to USBank to follow up and the first representative advised me that a supervisor has reviewed my account earlier today and confirmed the denial for 1 ) Debt to income ratio and 2 ) high credit bureau utilization based off of the notes on my account. I advised the XXXX. this is starting to feel a little suspicious, seems like reasons are now being added for the denial and the XXXX could not explain what high credit bureau utilization meant. I asked for a supervisor just to review the matter and seek clarity. 

I was connected with " XXXX '' who advised that the denial for debt to income ratio being high and for high credit bureau utilization. I inquired about what my student loan payments are showing to be. XXXX advised $ XXXX. I asked if that did not seem suspicious of off to her. XXXX advised that she has seen student loan payments at different amounts so no it did not. I then asked about proof showing that those are not my payments. She advised about loans being on the pause. I cut her off and advised that I am not speaking to that, I was speaking to the fact that my payments are only around {$400.00} when they do start back. XXXX advised that USBank ONLY looks at what the credit report states the payments are and in no way shape or form take any outside information into consideration. 

I then inquired why the high credit bureau reasoning was not cited as a reason during the original review. XXXX then advised that it is not an official review, it is just something she caught when she pulled up my account. I then asked, " So that reasoning ( high credit bureau utilization ) is not noted on my account? XXXX advised no it was not. I then asked XXXX, then why did the previous XXXX read that to me? XXXX indicated that she thought I said she was the first person to tell me that. I advised XXXX that today was my first day hearing that reasoning, but the XXXXXXXX before her read that to me from the supervisor 's review notes on the file. XXXX had no explanation for this. I advised XXXX I would be filling this complaint because I do not feel comfortable with the USBank 's antics up to this point. 

I do not want to claim racism here, because I am not positive that is the situation, but I can not understand the treatment that I received with this company. I just need a 3rd party to review and ensure that I am not being railroaded or discriminated against. I've been denied for credit items before, but this one just does not seem right. I hope you all can help.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation