Consumer complaint received 2024-12-27 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Getting a credit card — Application denied
Company: U.S. BANCORP
State: TX

Complaint narrative:
In early XX/XX/year> I received in my XXXX mailbox a letter from US Bank stating that I was selected to apply for the US Bank XXXX XXXX XXXX XXXX XXXX credit card with a benefit upon approval the opportunity to transfer balances from other credit cards with the paying of a XXXX percent balance transfer fee and US Bank would charge no interest on those transferred balances for several months into the future.

Because the offer is an offer I am certainly interested in and I currently have two US Bank credit cards and am an authorized user on my XXXX  US Bank XXXX XXXX XXXX XXXX credit card, all in good standing over the years of my current good relationship with both US Bank and the over fifty-year relationship I have with State Farm, I again, as I have each time I have received an offer in the mail from a reputable credit card company, applied for the US Bank XXXX XXXX XXXX credit card the third consecutive year only to have, again, been turned down after each time calling US Banks underwriting department requesting reconsideration for very good cause to any reasonable person.

I respectfully explained to the person in US Banks underwriting department that US Bank is the only bank that has turned me down when I have responded to an offer either in the mail or to my account as offered on a bank or credit unions website, ever. 

Her response was that US Bank is more conservative than all other banks that offer credit cards and that my current balances owed were higher than US Bank would like to see but because she understood my argument that my total revolving credit balances were far less overall than the thirty-percent debt to income ratio preferred by banks that issue credit cards as a whole and that she would seriously consider granting me the card and for me XXXX wait a couple of more days for the decision which I would learn via another letter. 

Please find attached the XXXX letters including the letter dated XX/XX/year> post my request for reconsideration, both stating that US Bank is unable to approve my most recent and third attempt to obtain this credit card in as many years. 

I now truly believe that US Bank does not have a person in underwriting that manually looks at requests for consideration but instead relies on an algorithm preprogrammed into a computer that makes it impossible for credit-worthy applicants with my unique circumstances to ever be approved though their competitive banks have no problem approving my applications for their credit card offers I receive. 

If I am correct about the reliance by US Bank on an algorithm rather than a bank officer, then US Bank is not operating by the requirements of CFPB.

I am asking CFPB to investigate my concerns that any reasonable person would believe have merit.

I believe that the right thing for US Bank to do in my instant case is to approve my most recent application for the US Bank XXXX XXXX XXXX XXXX XXXX as offered me this month via a letter in the mail.

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