I went ahead and submitted apps to my local CU and DCU. My local CU called this morning and went over some information and they excluded the loan I co-signed for and they still had concerns about my DTI. I told them that doesn't seem right because I only have 3 credit cards and after I calculated the balances, my DTI was actually about 20%. They told me it shows I have 4 cards and they were too high and I would need a co-signer. I called them back to let them know they made a mistake. They were counting a Home Depot card with a $6500 balance as mine, I had to point out to them that I was just an authorized user on it. Even after they took that into consideration, they still were requiring me to have a co-signer.
In comes DCU to save the day! I received a call from them this afternoon and they had only one question about my app and it was regarding the car. I informed them the account was closed and I had to get a letter from the CU tonight stating that. I emailed them my last pay stub and and the document from the bank and now I'm good to go. I joined DCU this afternoon online. I was shocked that instead of actually being a member of one of the designated charities, all you had to say was "yes" you were. I found this out by accident really, because I was going to join the schools thing for $10, but I forgot my PayPal password since they recently made everyone change them due to the security breach. Well, I clicked on forgot password on PayPal and I checked my email and noticed I already got an email from the school charity pronouncing my membership and everything. So a long story short, they don't verify you are actually a member, they only care that you clicked yes. Interesting!
Some people say they receive instant notices of approved DCU credit cards when they log in to their accounts. I don't know about that because I have to wait for a pin number to come in the mail before I can log in for the first time. Going to check out a couple cars I've had my eye on tomorrow.
