Consumer complaint received 2023-02-21
Company: U.S. BANCORP
State: TX
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Advertising and marketing, including promotional offers
Sub-issue: Didn't receive advertised or promotional terms

Complaint:
State Farm XXXX US Bank XXXX XXXX XXXX, XXXX, ND XXXX sent me a letter inviting me to apply now for a special credit card offer only good until XX/XX/2023 via the United States Postal Service presorted standard postage paid that I received on XXXX, XX/XX/2023. 

The letter states that I am offered 0 % Intro APR* on purchases and balance transfers for 18 billing cycles.

The letter contains the following personal message : Dear ( Name Redacted ), We hope youre enjoying your current State Farm credit card. As a valued customer, youre invited to apply for an additional offer - the State Farm* Good Neighbor Visa* Card. With beneficial safeguards for auto, phone and more, plus a low intro rate offer, this is a smart way to pay! Here are the details : Auto Deductible Reimbursement. Get up to {$200.00} of your auto policy deductible reimbursed. Cell Phone Protection. Receive up to {$600.00} of annual coverage for damage or theft. No Annual Fee*. Save money with no annual fee.

We invite you to act now and take advantage of this low intro rate and the beneficial safeguards offered with the Good Neighbor Card. This card and all its benefits are provided through U.S. Bank. 
StateFarm / USbank. 

Apply now use this confirmation code : XXXX Visit : usbank.com/statefarmcardoffer Call : XXXX Complete and mail the enclosed application.

* The 0 % introductory APR applies to balance transfers made within 60 days of account opening. A balance transfer fee of 3 % of each transfer amount ( {$5.00} minimum ) will apply. 

I applied for the credit card offer online using the link advertised in the letter. I received an online response that my application was in review. 

After having waited all weekend to hear more about the status of my application, I called the phone number on the letter and spoke with XXXX XXXX. XXXX instructed me to call XXXX to find out the status of my application. I called that number and spoke with XXXX who agreed with me that someone with a credit score as high as mine and with an income considered to be in the upper income range of those living in the United States should not have been declined and suggested that I wait on the line to speak with someone in credit card underwriting with U. S. Bank. I waited for just under one hour on hold listening to piped in music until, finally, XXXX answered. XXXX listened to the same input that I had given to the two previous employees I spoke with today and agreed to submit my application for further review based on my longstanding and good relationship with both State Farm Insurance Company, where I own a life insurance policy that I have been paying premiums on for almost four decades, and U.S. Bank where both me and my wife have open credit cards existing for almost a decade. XXXX said that it will take two to three business days to find out whether I will be approved for the credit card offer because the reason given her that I was turned down is because of too many new open lines of credit within the last XXXX months. I explained to XXXX that all of the new credit lines were from my taking advantage of credit line offers I have received in the mail like from XXXX XXXX  last week who invited me to open a personal line of credit for {$20000.00} for which I applied and was approved. I am using the line of credit as overdraft protection on my checking account at XXXX XXXX. The week before that I accepted an invitation from XXXX XXXX to open a credit card with XXXX XXXX through XXXX XXXX. I own XXXX vehicles that require maintenance so I took advantage of XXXX XXXX credit card offer and was approved. I maintain XXXX balances on the majority of my credit cards and am currently using only seven percent of my available credit lines that total over half a XXXX  dollars. I am surprised that State Farm / U. S. Bank declined my application and am writing to ask you for help obtaining the credit card I should be approved for based on my income and excellent credit rating.

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