DCU HELP

[Mellon]

I am never quite sure if these are actual DCU pre-approval or if I am pre-approved. For those that have DCU and have received pre-approvals, is the screen below a true pre-approval

[pipeguy]

IMO and experience, they are "offers" of what can be had/gained, they are NOT pre"approvals" meaning you apply and you get the offer. I have qualified for 2 car loans and a Visa the car loans were at the lowest rate, the Visa was slightly above, but in each case its an application and approval, not a given. 

[fltireguy]

Same question...LOL

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@Mellon wrote:

I am never quite sure if these are actual DCU pre-approval or if I am pre-approved. For those that have DCU and have received pre-approvals, is the screen below a true pre-approval

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[Mellon]

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@pipeguy wrote:

IMO and experience, they are "offers" of what can be had/gained, they are NOT pre"approvals" meaning you apply and you get the offer. I have qualified for 2 car loans and a Visa the car loans were at the lowest rate, the Visa was slightly above, but in each case its an application and approval, not a given. 

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Thanks for the feedback!!!

[iced]

I have sometimes wondered this myself with DCU. Perhaps the way to approach this is with data points, so I just logged in to my account and noticed my loan suite has specific dollar amounts pre-populated:

Are you seeing your boxes under "Loan Suite" or am I looking at the wrong boxes?

Perhaps if a specific amount is shown it follows a different approval process versus if no amounts are shown? I also noticed they say "Accept" rather than "Apply."

[Anonymous]

Specific APRs are also a good sign and yours weren't.

[Anonymous]

My brother-n-law has both "accept" and "apply" offers in his loan suite. I take the "accept" offers as preapprovals and the "apply" requests as an invitation to apply for a product (car loan, credit card, etc.)

[astronemma]

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@Anonymous wrote:
My brother-n-law has both "accept" and "apply" offers in his loan suite. I take the "accept" offers as preapprovals and the "apply" requests as an invitation to apply for a product (car loan, credit card, etc.)

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This is correct. I have a combination of these, some say Accept, some say Apply. The Accept offers have specific amounts and rates because they are pre-approvals, the Apply offers do not. 

[DantGwyrdd]

Yup. The accept offers (which say 'approved up to' and list a specific APR) are real pre-approvals. I picked up a personal loan recenty from one of them -- a few questions online and one call from an agent the next day and I got the money deposited in my DCU checking account the next day.