Question
Credit Card Offer Assistance?
I received an offer for a pre qualified credit card through US Bank. I've been banking with them for about 4 years now. The offered was for 0% interest for 15 months then 7% interest there after. I was very excited about this offer b/c I have a credit card with 15% interest and they refused to refinance me. So I went to US Bank today and the rep tried to sign me up for something completely different. The rep told me the only way to get the credit card that was mailed to me was to call the number listed. However she searched her system and said I was qualified for a 50K business credit card. The interest would be the same as the offer I was mailed. I told her I didn't have a business so that wouldn't work. She said they are qualifying me based on my bank deposits and transactions. I said I hardly make any large deposits. Normally just my direct deposit from work. She said I was qualified and asked if I was interested. I explained I was apprehensive b/c I don't have a business. She once again said they are just calling it a business line of credit and not to worry. So after thinking I said yes, but change the limit to 15K. The next question she asked was what did I want to use as my business name. I told her I don't have a business. She said well let's just use your name. I stopped her and said I need to do some more research. So is this legit? If I have a credit card that was offered as a business card, will they close it once they find out I don't have a business?
3 weeks ago - 2 answers
Best Answer
Chosen by Asker
I would call that bank and ask for the manager. That salesperson is earning a commission on every product that she sells, and she is behaving dishonestly. Ask the manager if this is how US Bank does business. I bet you she will find a way to get you the rate you want on the credit card. If not, look online for offers. If you were preapproved for one, your score is probably good enough to get that offer somewhere else. You may want to try a local credit union as well. If you went ahead and opened it, I bet they would ask for business documentation, so I would not risk it.
Source(s)
20+ years as a Branch Manager at one of the "Big Banks"
by Octavia
3 weeks ago
Asker's Rating: 
Other Answers
If you are lucky, all they will do is to close it. If you are not lucky, they will try to have you arrested for fraud. In either case, they will deny that their rep said this was ok and they will deny that you told the rep that you did not have a business. I recommend that you do not use this bank at all. However, if you decide to try to obtain the card anyway, then call the number to get the advertised card, not the business card. Do not go back into the bank to try to get the card. Do not use that rep again.
by StephenWeinstein- 3 weeks ago