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DCU Low Score Approvals?

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Charger2014
Valued Member

DCU Low Score Approvals?

Hi All,

I have been working on my credit to try and refi my current loan with exeter finance over to DCU. Unfortunately my score is still not the strongest, I am going to give it another 6 months gardening and hopefully I will see a nice bump since my util will be closer or less than 30% also my loan will be close to 2 years without any lates. I have never applied with them I just opened an account a few weeks ago. Hopefully this will help when it comes time to apply.

 

Anyways, I would like to see what are the lowest scores that DCU has approved. Could you please share? 

 

Date:

Amount and Interest:

Credit Score EQ Auto 04 or 08:

Anyother approvals?

 

Thank you Guys! 

 

Gardening since...Oh look credit application! Seriously need some self control.

Message 1 of 7
6 REPLIES 6
Atonswife
Contributor

Re: DCU Low Score Approvals?

Hi...I refinanced in July 2015. DCU uses EQ Fico 5 which is EQ 04 (mortgage scores not auto). In order to get the lowest rate your score has to be at least 675. At the time I applied the lowest rate was 2.24% and since I signed up for direct deposit my rate dropped to 1.74%. HTH
As of 11/02/15:
EX-679, TU-707, EQ-690 (FICO 08),7/31/15 691 (FICO 04)
CAP ONE QS-$4,250, CAP ONE QS-$2K, CAP ONE VISA SIG-$7K, JETBLUE AMEX-$5K, DCU PLATINUM VISA-$6.5K, AMAZON STORE-$5k, BANANA REPUBLIC-$5k

AU ACCTS: CAP ONE QS-$1.5K, CAP ONE CLASSIC-3K, BLOOMINGDALES-$3K, NORDSTROMS-$1K
Message 2 of 7
Charger2014
Valued Member

Re: DCU Low Score Approvals?

Thanks! That helps, that score is currently lower than 675, I read somewhere else that you have to have at least 620 to avoid the instant denial.

 

Anybody else? 

Gardening since...Oh look credit application! Seriously need some self control.

Message 3 of 7
Charger2014
Valued Member

Re: DCU Low Score Approvals?

Thank you.. Anybody else want to chime in? Smiley Happy 

Gardening since...Oh look credit application! Seriously need some self control.

Message 4 of 7
gibeon
Established Contributor

Re: DCU Low Score Approvals?

Just refinanced yesterday. Their EQ was 657. Got 4.49 or 3.99 with direct deposit.

Utilization at 20%, 25+ Inquiries on EQ, and 18 new accounts this year. UW wouldn't approve me for more than the payoff, which is fine. Apparently all my new accounts, plus previous baddies put them off a bit.
23 Open Bank Cards / 7 Open Store Cards / TOO many inquires / Mid/High 600's
Message 5 of 7
Anonymous
Not applicable

Re: DCU Low Score Approvals?

You'll get an email from them that your interest rate will be knocked down a quarter of a percent for 3 consecutive on time/early payments. They send a message. I just got mine this morning.

 

They'll do it up to a total  They'll keep doing that for each three months until a total reduction of 1.50%.

 

Stay on top of those payments and the rewards program will help reduce that rate significantly. Smiley Happy 


@gibeon wrote:
Just refinanced yesterday. Their EQ was 657. Got 4.49 or 3.99 with direct deposit.

Utilization at 20%, 25+ Inquiries on EQ, and 18 new accounts this year. UW wouldn't approve me for more than the payoff, which is fine. Apparently all my new accounts, plus previous baddies put them off a bit.

 

Message 6 of 7
Charger2014
Valued Member

Re: DCU Low Score Approvals?

Thanks guys, bad news my EQ from them came in and I'm still at 591 :'( myfico said 634
Gardening since...Oh look credit application! Seriously need some self control.

Message 7 of 7
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