08-17-2009 01:40 PM
I happen to be one of the lucky ones for PSECU. I attended a qualifying school.
I joined as a member with $6 Share deposit and $25 to checking. I got my welcome packet and letter about 2 weeks later and activated my online login.
I applied for a Capitol Visa Cash Reward Card. I asked for $10k. I got the "LO will review" message. I checked status 4 hours later and was APPROVED!
I printed out the required activation document, signed and faxed back.
This CU really seems nice. They have 3.99% BT with no fees. Cash and Purchase rate of 9.9%. Visa can be set as overdraft to checking. They provide 3.99% BT convenience checks too.
08-17-2009 02:25 PM
Congrats! The highest initial credit limit I've ever received was from BOA $5000. I closed that account back in April. Hated its customer service.
Maybe by this time next year my current cards will give me CLI up to that amount.
08-17-2009 03:10 PM
Congrats on that! That is a nice little CL from Psecu!
You mentioned that you went to a qualifying school - when you applied how did they validate that? Did you have to enter the info online or? I went to a college in PA as well which is also a qualifying school!
Do you know if they pulled EQ, EX or TU? and what are your scores like and income?
I have been contemplating whether to apply with them or not! Also, do you know if they pulled your credit twice or did they approve the CC on the initial pull for when you applied for membership?
08-17-2009 05:10 PM
1) What did you have to do to validate your membership app?
2) What, if any, documentation did they ask you to provide for your CC app? Did you ask for $10K or did they come back with that amount?
08-17-2009 07:33 PM
08-18-2009 02:29 AM - edited 08-18-2009 02:31 AM
Okay, I will try to answer as much as I can.
PSECU pulls EX exclusively. They hard pull on membership. I app'ed online and they hard pulled again. Possibly if I had called in and requested a phone app they might use original pull? I don't know on that part.
I don't know my EX FICO. This is part of why I originally joined PSECU. However, I had around 750 TU/EQ when I began my app spree.
At the time of my PSECU app I had 4 new accounts showing on my CR - Discover, NFCU, USAA and Addison Avenue. I had 2 recent EX inquiries (Addison and PSECU).
I have no derogs. My oldest account is about 13 years. My AAoA is around 3 years (before new accounts). I had about $14,000 in CC balances reporting at time of app.
I have 6 figure income. They did not request any income documentation.
My highest reported CL's at time of app were BoA $10k, NFCU $20k, Addison Avenue $15k and USAA $15k.
I don't know how PSECU validates eligibility info. The application asked me to select from a list on how I qualify which I selected "You or someone you are related to are alumni to a school in our field of membership" and then asked me to select which school (from list). That was all it asked for. It didn't ask any other questions on that subject nor ever bring it up again at any time.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO