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Established Contributor
Posts: 832
Registered: ‎01-16-2008
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Re: Alliant only aproved me for $500 with an 802 EQ Fico

In that case, I would suggest that you try for one of the BoA pre-approval offers and if it is more satisfactory, decline the Alliant offer.  It will require another hard pull though, for the BoA application.

 

But in all cases, I recommend that you do what is best for you and not be tethered to the FICO monster.  The inquiries may cost you a few (very few) points but it appears that you can afford that and FICO will recover in a short time with the new credit line(s).


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


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Established Contributor
Posts: 645
Registered: ‎10-24-2007
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Re: Alliant only aproved me for $500 with an 802 EQ Fico

I didn't accept the card for all the same reasons you've given...low credit limit combined with the effect it would have on my AAofAs...and no, it does not appear on my credit report.

 

When I applied for the card the day after being accepted as a member they told me application for the credit card would be an additional EQ pull and it was. They kept trying to tell me though that the pull for membership was a soft inquiry although I already knew that it had been a hard pull. So, I ended up with 2 new inquiries on EQ. and no card.

 

This was the right decision for me as I had just opened 3 new credit card accounts and had 9 much older cards.. You might want to go ahead and accept the card as you have so few other cards. I have read here from one other poster of a CL with Alliant growing quickly from the original $500 limit to,I believe, over $5000 in a relatively short amount of time.  

Contributor
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Registered: ‎08-20-2008
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Re: Alliant only aproved me for $500 with an 802 EQ Fico

Well I applied to Bank of America through their preaproval offers. I applied for the Visa Rewards. Now the preapproval says its a $4,000 limit, though thats not a guarantee. It says though I should hear back from them in 7-10 days.  So if I get a better offer from BOA I will go with them. If not I will get the Alliant Visa and try to grow the card over time. 
Regular Contributor
Posts: 180
Registered: ‎05-01-2009
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Re: Alliant only aproved me for $500 with an 802 EQ Fico

I agree with the previous advice.

 

Keep the account.  Store cash in the savings account that you would charge on the Visa.  When the charges hit, transfer the money over to the Visa.  Your line will be fully replenished.

 

This takes you to a more cash/carry type of existence with them, but it does work.


Starting Score: TU 766 EQ 788
Current Score: TU 788 EQ 811
Goal Score: TU 800 EQ 800


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Moderator Emeritus
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Registered: ‎12-31-2008
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Re: Alliant only aproved me for $500 with an 802 EQ Fico

I'm seeing a few recommendations to try the BofA preapproval.  Anyone know who BofA pulls?  How are they with score requirements?  Are they bk friendly? 

 

Thanks y'all.

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Established Contributor
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Registered: ‎10-24-2007
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Re: Alliant only aproved me for $500 with an 802 EQ Fico


utah2009 wrote:

I'm seeing a few recommendations to try the BofA preapproval.  Anyone know who BofA pulls?  How are they with score requirements?  Are they bk friendly? 

 

Thanks y'all.


 

I don't know if BK friendly, but definitely they blacklist if you've ever had a CO on either a BofA account or MBNA.
Established Contributor
Posts: 645
Registered: ‎10-24-2007
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Re: Alliant only aproved me for $500 with an 802 EQ Fico


dfgdfgdfgadfg wrote:
Well I applied to Bank of America through their preaproval offers. I applied for the Visa Rewards. Now the preapproval says its a $4,000 limit, though thats not a guarantee. It says though I should hear back from them in 7-10 days.  So if I get a better offer from BOA I will go with them. If not I will get the Alliant Visa and try to grow the card over time. 

 

Congratulations on your new BofA account!
Established Contributor
Posts: 570
Registered: ‎03-29-2008
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Re: Alliant only aproved me for $500 with an 802 EQ Fico

Take the card !!

 

I was denied last June by Alliant for a $500 CC but was approved with a recon phone call.

 

Within two months I called back in and after talking with a loan officer had it increased to 5000 with scores lower than yours and a limited credit history.

 

They will work with you and they are one of the better CU's out there.

Jax

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Established Contributor
Posts: 645
Registered: ‎10-24-2007
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Re: Alliant only aproved me for $500 with an 802 EQ Fico


jaxstraw wrote:

Take the card !!

 

I was denied last June by Alliant for a $500 CC but was approved with a recon phone call.

 

Within two months I called back in and after talking with a loan officer had it increased to 5000 with scores lower than yours and a limited credit history.

 

They will work with you and they are one of the better CU's out there.


Thanks Jax....You were the poster I was referring to above...just could not remember your name!

Established Contributor
Posts: 570
Registered: ‎03-29-2008
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Re: Alliant only aproved me for $500 with an 802 EQ Fico

Nice. Good memory.

They have been great to both DW and myself.

After NFCU , they were one of the few lenders to give her a decent CL with a BK. 5K also with EQ score in the high mid 600's.

Jax

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Then you are a fool. Be thankful that when God gave you a face, he gave you a fool's face
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