Mutual of Omaha Bank

Mutual of Omaha Bank’s solvency might be of concern to investors.
On 03/​28/​2014 I applied for a Mutual of Omaha Bank Platinum Rewards MasterCard.
MoOB did a hard inquiry and received my credit report from Equifax, with a score of 773, and a utilization of 25%.
I had recently created a Credit Karma account, with a flawless 20 year record, Credit Karma said the only flaw in my credit was for the number of accounts I had, 5. So I began researching credit cards, and finding those that specifically catered to people with excellent credit. Among them was MoOB’s MasterCard.
The reasons listed on MoOB’s denial letter were:
Time since most recent account opening is too short. (Duh, Credit Karma said I don’t have enough credit cards. According to them, the optimum number to have is 22+, so I’m applying for a couple of cards a month. and have gone from 5 to 10).
Proportion of balances to credit limits is too high on bank revolving or other revolving accounts. (25% is too high?! I have the funds to pay off my cards, but have been transferring my balance to new cards so I receive higher credit lines. My current balance is 18%, and will soon be under 5% when I’m done playing this credit game.)
Too many accounts with balances. (I transferred all balances to ONE card with no transfer fee and no interest for 18mos. and use another card that I pay off each month for all of my monthly expenses.)
Number of bank or national revolving accounts with balances. (Isn’t this the same as the one above?)
When a bank is turning away customers with flawless 20 year credit histories, a 25% card utilization (which could be paid off immediately), and a credit score above 770, you have to wonder about their solvency. My prediction is that BoOB will be selling out to Bank of America, and the terms for their customers and investors will not be good, as BofA has a reputation for hurting those who don’t stand up and fight back. If you’re thinking of applying for one of their cards. Think again. No sense in sacrificing a couple of your credit score points if they don’t accept people with 773 credit scores, 20 year flawless credit histories, 25% utilization, an above average income, and no financial obligations.
The company should at least spell out its requirements on the application page before asking permission to do a hard inquiry: No new accounts in the last 12 months, less than 15% utilization, no late payments ever. income over 300,000 per year…

My brief experience in dealing with Mutual of Omaha Bank in Lakewood, and more specifically with Jason Parker has been excellent.
Recently my sister passed away and she had an account at MoOB. Jason has been extremely helpful with several complicated aspects of closing the account.
If you’re looking for a bank in the Lakewood area or need a personal banker, I definitely recommend Jason Parker at Mutual of Omaha.