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Frequent Contributor
wndrwmn78
Posts: 256
Registered: ‎04-16-2009
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Alliant: apply online or over the phone?

I recently joined Alliant Credit Union with a savings account. I did not receive any pre-approved offers, since I got the 3 to 5 day response originally. I'd like to apply for either a personal loan or an auto loan with them, and then hopefully down the road a Visa. Is it better for me to apply over the phone with a LO as opposed to online? I seem to see a lot of posts about applying directly with a LO over the phone, and wondered if that would give me a better chance of acceptance, or if it's just the result of ANY application.

 

One more question: if I were to be declined, does Alliant have a timeframe they want you to wait before you apply again, such as Chase requiring you to wait 6 months? 

 

Thanks in advance for your help! :smileyhappy:


Starting Score: 670 EQ and 674 TU
Current Score: 670 EQ and 674 TU
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New Contributor
Duplex
Posts: 74
Registered: ‎03-24-2009
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Re: Alliant: apply online or over the phone?

If you apply online you have to select an option to be contacted by a loan officer by phone or email, so either way you will end up speaking to the loan officer.

 

After the loan officer explained to me why I was denied, she encouraged me to make regular deposits into my checking or savings and then apply again in six months. 

Established Contributor
Itsmeagain
Posts: 832
Registered: ‎01-16-2008
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Re: Alliant: apply online or over the phone?

As an alternative, a secured loan with Alliant requires no credit check, can be paid off in six months, establishes you with Alliant and puts a little savings to work for you.  Savings interest is 2.23%; Secured loan is 4.5%, meaning a total cost of 2.27%.  It doesn't have to be a large loan, just something to get your foot in the door.

Starting Score: TU 737 EQ 721
Current Score: TU 741 EQ 741
Goal Score: TU 765 EQ 760


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Frequent Contributor
wndrwmn78
Posts: 256
Registered: ‎04-16-2009
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Re: Alliant: apply online or over the phone?


Itsmeagain wrote:
As an alternative, a secured loan with Alliant requires no credit check, can be paid off in six months, establishes you with Alliant and puts a little savings to work for you.  Savings interest is 2.23%; Secured loan is 4.5%, meaning a total cost of 2.27%.  It doesn't have to be a large loan, just something to get your foot in the door.

Would $500 be enough to establish a relationship with them, or is that too small?


Starting Score: 670 EQ and 674 TU
Current Score: 670 EQ and 674 TU
Goal Score: 750 both EQ and TU


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Senior Contributor
score_building
Posts: 3,524
Registered: ‎01-10-2008
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Re: Alliant: apply online or over the phone?


wndrwmn78 wrote:

Itsmeagain wrote:
As an alternative, a secured loan with Alliant requires no credit check, can be paid off in six months, establishes you with Alliant and puts a little savings to work for you.  Savings interest is 2.23%; Secured loan is 4.5%, meaning a total cost of 2.27%.  It doesn't have to be a large loan, just something to get your foot in the door.

Would $500 be enough to establish a relationship with them, or is that too small?


based on my experience at alliant that would be a fine start. 

FICOS:
06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)
Established Contributor
Itsmeagain
Posts: 832
Registered: ‎01-16-2008
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Re: Alliant: apply online or over the phone?


wndrwmn78 wrote:

Would $500 be enough to establish a relationship with them, or is that too small?

To establish yourself, the amount is not so important as regularity.  For example; saving 50/mo. would show that you can manage your account and would prove you could manage a payment for at least that amount on a regular basis.  After about six months of regular savings deposits, you should qualify for their credit products with no problem.


Starting Score: TU 737 EQ 721
Current Score: TU 741 EQ 741
Goal Score: TU 765 EQ 760


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Frequent Contributor
wndrwmn78
Posts: 256
Registered: ‎04-16-2009
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Re: Alliant: apply online or over the phone?

Thank you! I think that I'll take your advice and start those regular monthly deposits. Maybe I will also try to do the $500 secured loan, and still contribute to the savings account while paying the loan down...can't hurt to be twice as "reliable"! :smileyhappy:

Starting Score: 670 EQ and 674 TU
Current Score: 670 EQ and 674 TU
Goal Score: 750 both EQ and TU


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Established Contributor
Itsmeagain
Posts: 832
Registered: ‎01-16-2008
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Re: Alliant: apply online or over the phone?

You're welcome.  I hope your experience with Alliant is as good as mine has been so far.  Great customer service and good credit products.

 

Good Luck


Starting Score: TU 737 EQ 721
Current Score: TU 741 EQ 741
Goal Score: TU 765 EQ 760


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