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Re: Official Credit Unions Guide


mattmyFIC0 wrote:

baller4life wrote:

FroggieMom wrote:

Baller... I thought I remembered us posting on another thread helping a fellow MyFicoer with her apps to RBFCU and that you were a big fan.  I'm good with the 15K limit straight out of the gate, I knew to aim high from the boards here saying CLI are HP.  Just wish I would have known at the time the PLOC are hidden TL Smiley Sad  My only strange issue with them was my debit card fraud that I posted about in the GC back in August.  

 

Did you try and get a CLI or did they AA you when you learned you had "too much available credit" 


Yep I USED to be a big fan! Until I actually had my own dealings with them. I waited a very long time till my TU was spotless to join. Then when I did join I was denied for Chexsystems inqs. The max they allow is 5. I had 7. LOL. So I called and got special permission from a mgr to join. But, she needed me to go to a branch to show id. With no branches in Houston, I drove in a STORM to Gonzales branch outside of San Antonio. Got membership all set up thru video chat. Then apped cc. DENIED! Excessive available credit! At the time I hadn't even broken $200k. If they could only see me now! 😂😂 Apped PLOC. DENIED! Same reason.

 

So, I leave with tail between my legs. VERY disappointed since I had waited so long to join. And was so excited about it. So, then right before my hp would expire, I apped auto refi. APPROVED!! Lowest apr of 1.65%. EXCELLENTE!! Only to have the approval rescinded because they didn't like my 1099 income. Excuse me what? Being I am an independent contractor and can write off mileage on taxes, they went by my AGI instead of gross income. And denied me. I was LIVID!! 

 

So, after emailing and talking to multiple supervisors, mgrs who clearly understood and agreed with me. They could not overturn it since it is their policy to use net income. They are the ONLY CU,bank,loan company that has ever denied me based on my income. While on phone with the last RBFCU rep, I asked them to please close my membership. THE END


I had a very similar situation with Golden1. They asked for gross income, which I gave them. Then after auto-approving me for 10K CC and 10K PLOC they wanted POI even though the app specifically says they don't for products that are 10K or less. I gave them POI (self-employed) and then they denied for my income not being what I stated.

 

I actually had understated my income on the app. It all took around 4 weeks and ended with me telling them to close everything I had with them. I also told their manager that I spoke with that it was the worst experience I've ever had with any financial institution. Still irritates me to think about the amount of time I wasted on them....


Wow!

I thought Golden1 was like the West Coast's Finest. I'm also self employed, and I'm always doing battle with POI. 


Current Scores 3/2016 Equifax 676 Transunion 697 Experian 648 Goal Scores: 720's accross the board. Gardening Goal: 3/2017
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Re: Official Credit Unions Guide


humuhumunukunukuapuaa wrote:

CreditLuv wrote:
Nope, the MAX PLOC (you call it a CLOC) or NavCheck amount is $15,000. 



Navy Federal does not have a PLOC product. They do offer a CLOC.  Just wouldn't want anyone to be confused, or for anyone to call NFCU inquiring about a product they don't offer. Smiley Happy


What does CLOC stand for? Is it basically Navy's glorified semantics for what everybody else calls a PLOC??


Current Scores 3/2016 Equifax 676 Transunion 697 Experian 648 Goal Scores: 720's accross the board. Gardening Goal: 3/2017
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Re: Official Credit Unions Guide

CLOC acronym depending on the bank/credit union normally stands for Commercial Line of Credit, but people on here call NFCU's PLOC a CLOC which stands for Checking Line of Credit. 

 

You get checks and you can write a check to yourself, your business, or anyone else for the full amount of your line of credit. It's a PLOC as long as you use the checks.

AAoA = 3.0, 3.3, 2.8 years|Oldest Account = 12.2 years|Inquiries = 6-EX, 6-EQ, 9-TU. I have the credit patience of a Buddha and Yoda love child, but the credit anger of The Hulk if I get a starting credit limit under $10K!

$40,000 Merrill Lynch Visa+ (13.74%)|$35,000 Lowes|$25,000 NFCU CashRewards (10.40%)|$25,000 NFCU Flagship (10.74%)|$25,000 RBFCU Premium MC (8.70%)|$25,000 Walmart MC|$20,500 PenFed Platinum (10.74%)|$20,000 Cap1 Venture|$15,150 Cap1 QS|$10,000 PenFed Promise (14.24%)|$9,000 Blispay Visa|$15,000 NFCU PLOC (13.90%)|$10,000 RBFCU PLOC (8.90%)|$10,000 PenFed PLOC (11.0%)|PayPal $4,650
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Posts: 439
Registered: ‎10-22-2015

Re: Official Credit Unions Guide

1 - NFCU
They are my first love in my BK7 rebuild
Cash rewards - 17.5k
CLOC - 15k

2 - Penfed
Oh Penfed you're the really seductive CU who whispered dirty talk in my iPhone earpiece !
I love them too...
AMEX - 15k
Cash rewards - 10k

Alliant - ONLY for secure savings loan

NFCU - is the best customer service I have ever encountered in 25+ years.
Penfed - is 2nd and been very good to me.
Discharged BK7 - 10.16.15
Current Fico8 - (7.15.17) EX - 659/EQ - 672/TU - 660
Total CL - $124,000.
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Posts: 439
Registered: ‎10-22-2015
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Re: Official Credit Unions Guide

NFCU - CLOC stands for checking line of credit.
Discharged BK7 - 10.16.15
Current Fico8 - (7.15.17) EX - 659/EQ - 672/TU - 660
Total CL - $124,000.
Valued Contributor
Posts: 2,168
Registered: ‎06-16-2015

Re: Official Credit Unions Guide

My list

PenFed: 20K each (Promise & Rewards), 10.5K PLOC

RBFCU : 10K Low Rate (7.95%) CC, 20K PLOC, 1.99% Auto Loan (Non TX resident, able to join though TX PTA)

 

Sitting on these until after I close on my house

Navy FCU: HP to join, checking/savings

Alliant FCU : SP to join, checking /savings

Unity : SP to join, checking/ savings

Gardening since 7/13/17
Discover $35k | AMEX SPG $50k | Lowes $35k | PenFed Promise $43k | NFCU CashRewards $24k |Cap One QS Plat $19k | RBFCU Premier Rate MC $12.5k | J.Crew $24.2k
PLOC: RBFCU $20k | PenFed $25k | Navy CLOC $15k
TU:746 EQ:729 EX:758
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Re: Official Credit Unions Guide

I heard back from SDFCU yesterday. Counteroffer.  I think they are not super pleased about my portfolio.

 

Thank you for your request. Due to the number of creditors you currently have we have counteroffered you a $500.00 VISA Platinum.

Pleaser let us know if you accept this offer.

 

I haven't responded yet.  I'm not offended at the *cough* $500.00 *cough* counteroffer - but this card is really about being a chip card for European travel.

 

I'm undecided which way to go. Yes and hope it grows or No and wait til I kill roughly $150k or more in open credit...???  Suggestions???

 

Currently have: 45 open revolving accounts with 400k avail credit. Might be time to close some down for realz.

Original Scores: EQ FICO 645, TU 672, EX FICO 663 (4/2014)
Current Scores: EQ FICO 783, TU 796, EX FICO 797 (7/2017)
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Super Contributor
Posts: 8,905
Registered: ‎05-25-2015

Re: Official Credit Unions Guide

Great thread, baller. Here is my list.

 

PenFed: I joined over a year ago right after my scores were high during rebuilding. Even so it took a year to get the current CL.

Rewards now is 36k, but began at 10k.

Promise now is 14k, but began at 10k.

PLOC is at 10k, but was denied for a year because I was considered an "Egyptian."

 

NASA: I was so lucky. My Experian score was high and I had very few inquiries. 

Rewards card at 29.7.

 

RBFCU: I joined, but had too many new accounts for them to grant me a credit card. I will probably close my savings out there next year.

 

NFCU: Thanks to this forum I found the path to join.

GoRewards is at 25k.

CLOC is at 15k.

 

SDFCU: Easy to join and at the time was a SP. I have been a member for over a year and received a credit card offer that was solid, or so I thought. I applied thinking I had a chance, at least, for their lowest interest card. My EX score according to MyFico was 763. They show my score as 748. Denied.

 

Interesting letter from them. Number one reason was too many inquiries. I have 12 on EX. There is also a box that is checked that said If checked, the number of inquiries was a key factor adversely affecting your credit score and yes, it was checked. Other items listed were length of time accounts have been established and too many accounts recently opened, but without a doubt it was the number of inquiries. If I want to try again, I will wait at least a year or perhaps more to get all the inquires off and let my accounts age. AAofA is 4.3 years.

 


Daily Drivers: Penfed Platinum Rewards; NFCU GoRewards; Discover; NASA Platinum Cash Rewards
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Posts: 13,401
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Re: Official Credit Unions Guide

@JoMellow that's a tough call to make! I would be really concerned if the card would actually grow or if you would be stuck with a $500 card that wouldn't be very useful for your intl travel needs. I guess we need members with experience growing a SDFCU card to chime in.

@Musiclover yeah I will DEFINITELY need to garden at least a year before appING a card with SDFCU. That appear to be uber sensitive! And good to know their preapprovals aren't guaranteed like other CUs!
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Super Contributor
Posts: 13,401
Registered: ‎09-13-2013

Re: Official Credit Unions Guide


dasingleton wrote:

My list

PenFed: 20K each (Promise & Rewards), 10.5K PLOC

RBFCU : 10K Low Rate (7.95%) CC, 20K PLOC, 1.99% Auto Loan (Non TX resident, able to join though TX PTA)

 

Sitting on these until after I close on my house

Navy FCU: HP to join, checking/savings

Alliant FCU : SP to join, checking /savings

Unity : SP to join, checking/ savings


Thx dasingleton! He was the first out of stater here to join RBFCU. So anyone interested, just join Texas PTA. Good CU for those with a W2 😂. Hidden ploc.

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