Edit: Wow! Thanks for the shoutout (both love and hate) on r/churning, looks like I may have jumped the gun here and was denied for a multitude of possibilities and was told the 6 month rule just to sooth by bruised ego.
I applied for the Citi AA Executive card in December and then the Aspire on 18 January 2018. According to reddit user itrytopaytaxes, US Bank should not have seen the AmEx card so soon as it takes a statement to report it, this delayed reporting is confirmed by user Sirtheta. He suggests:
This is a useless data point, and does not support the conclusion that “Derp” draws.
The Hilton Aspire was released January 18, 2018. Unless something has changed, which we would’ve heard about, it will not appear on this person’s credit report until early March (at earliest). While it’s possible that the underwriter drew this conclusion from a hard pull (if one was issued), it seems more likely that something was miscommunicated.
US Bank is stingy as fuck about extending credit. It’s much more likely that the contents of this person’s credit report disqualified them rather than that there is a strict 0/6 rule. (Equivalently, it does not seem to me that US Bank has instituted or changed any of their usual rules.)
I guess the only thing I can conclude is it might be hard to hold two Altitude cards at one time. It looks like several people gotten the Altitude no problem despite having newer accounts at other banks. User AmEx Fangirl says:
“Stop applying for 6 months and try again” is a general recommendation analysts often use to soften the pain and prevent an awkward moment after they deny someone.
Seeing approval DPs below couple with my own (6/6 when AR was approved, and 2 of those 6 were US bank cards), I am not convinced this is a hard rule.
Thanks for the datapoints, and sorry for the bad conclusion! Just note that US Bank is tough to churn!
I feel shitty jumping to the 0/6 conclusion and even had to reconsider how to approach my next articles. Even user r9anirudh called me out on the drop in quality of derp report:
This is a generic suggestion by any credit analyst to wait 6 months and apply again which has been blown out of proportion because Derp needs to create content for the blog!
So for the sake of completness of my datapoint I decided to look at my credit karma to see what US Bank took into account:
When I match it up to my own record I have:
- 6 months ago: Chase IHG Card
- 5 months ago: AmEx AU on Hilton Honors Surpass
- 4 months ago: AmEx Green Card
- 4 months ago: AU on Chase British Airways Card
- 3 months ago: AmEx Ameriprise Platnium
- 3 months ago: Bank of America Alaska Card
- 2 months ago: AU on Chase Ritz Carlton Card
- 1 month ago: Citi American Airlines Executive Card
Most likely the underwriter gave me the 6 month line because they had to say something. It’s more like I was denied for hitting too many banks at one time. Time to slow it down I guess. The 0/6 conclusion I made is false and is confirmed by RomingRedPanda who says:
If they do, it’s either new or not a hard rule. This sounds like their general “too many accounts” denial that they’ve been denying people with for months. Their suggestion has been to lay off applications for 6 months.
- 6/2 – Opened MileagePlus Explorer
- 8/18 – Opened Merrill+ (reported after first statement)
- 9/19 – Opened Arrival+ (reported next day)
- 12/1 – Applied for Altitude – identity verification – approved 12/4
There was a HP for a CIP in August and a bunch of HPs for a car loan in November, too.
I opened my US Bank checking/savings accounts in July.
Edit: wording, forgot a card, and probably should mention I was 7/24 at the time.
Well my datapoint on 0/24 is useless, just going to keep the article for future reference. here it is below: