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Yippee! This is my first ever CU card and I know CUs are pretty conservative lenders, so I feel this is the real proof of how much my scores have improved in the past few years (in Feb. of 2007 my EQ was 586). The loan officer wouldn't give me an exact number for some reason, but he said my EQ score was between 700 and 725. TU and EQ are finally both over 700!!! <insert happy dance here>
Other info:
I asked if they could use the credit report they pulled for membership 2 weeks ago. He said no, because membership pulls EX "Pinnacle score". I found that interesting because when I initially got turned down for membership online due to a security question mixup, it said to contact EQ for a copy of my report.
The only financial info he asked for was my income and my rent. After running my report he then asked for 2 pay stubs. While I was on hold, he sent me an email so that I would have his contact info, and he said it was perfectly acceptable for me to email him back with the PDFs of my last 2 paystubs. Ooh, high tech, no waiting.
I asked for $5000, they countered with $2500, so CapOne is still my highest limit at $3000, but I'm not complaining. It's only been a year and a half since my first card from Orchard had a $300 limit.
The CSR was confused, unless Alliant has just recently changed its policies. Alliant only pulls EQ for membership and loans (look at your inquiries to veryify). And they only report to EQ and EX...not TU.
They do provide a "credit score" from EX....but this score clearly states this is not what is used for consideration of loans.
IME
@jenrette wrote:
You must be mistaken CUs are just the opposite of conservative banks. They are more lenient with lending and will work with you.
CU's are indeed conservative. The reason they are so "lenient" now is only in comparison to other lenders who have been forced to severely cut back and restrict lending, close accounts, reduce limits, etc.
It is the conservative lending practices of CU's that allows them to continue to operate today normally rather than raise rates, cut limits and change their lending policies and criteria. The CU's operate today about the same they did over the past so many years.
The other CCC's are not being conservative, they are conducting damage control, loss recovery, recapitalization and reallocation of resources.
IMO
txjohn wrote:
The CSR was confused, unless Alliant has just recently changed its policies. Alliant only pulls EQ for membership and loans (look at your inquiries to veryify). And they only report to EQ and EX...not TU.
They do provide a "credit score" from EX....but this score clearly states this is not what is used for consideration of loans.
IME
this applies to their cc- some of their other loans report to a different combo of bureaus, quite confounding really.
@LisaPA wrote:Yippee! This is my first ever CU card and I know CUs are pretty conservative lenders, so I feel this is the real proof of how much my scores have improved in the past few years (in Feb. of 2007 my EQ was 586). The loan officer wouldn't give me an exact number for some reason, but he said my EQ score was between 700 and 725. TU and EQ are finally both over 700!!! <insert happy dance here>
Other info:
I asked if they could use the credit report they pulled for membership 2 weeks ago. He said no, because membership pulls EX "Pinnacle score". I found that interesting because when I initially got turned down for membership online due to a security question mixup, it said to contact EQ for a copy of my report.
The only financial info he asked for was my income and my rent. After running my report he then asked for 2 pay stubs. While I was on hold, he sent me an email so that I would have his contact info, and he said it was perfectly acceptable for me to email him back with the PDFs of my last 2 paystubs. Ooh, high tech, no waiting.
I asked for $5000, they countered with $2500, so CapOne is still my highest limit at $3000, but I'm not complaining. It's only been a year and a half since my first card from Orchard had a $300 limit.
perhaps but could be risky...
In any case, congrats on the great new TL!
perhaps but could be risky...Don't see how it's any more risky than sending paper copies in the mail. Frankly, I feel there's less chance of it getting lost or diverted via email.
My paystubs are all online already and they blank out my SSN, so all anyone could get that isn't already publicly available is my salary.
Congrats! DH loves his Alliant CC - I hope you like yours as well. **starts humming along to the happy happy joy joy dance **
I would note that Alliant pulled EQ for the original CC pull, and for an auto loan app (we used a local CU instead). They do soft him on EXP, though.