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DCU Membership, take the hard hit now or wait?

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MC9199
Valued Member

DCU Membership, take the hard hit now or wait?

I am eligible for DCU membership but haven't joined yet. I plan to app for one of their Visa crds in May. I am targeting them because I feel I have a good chance of getting a 5-10K or greeater credit line with them.

 

I'm just wondering if there is any benefit to joining now and taking the EQ inquiry hit, and setting up a savings account to build some history with them until I apply for the card.

 

Or would I be able to join and apply for the card in May with just one inquiry - if account history with them is not a big consideration?

 

Thanks.

 

Profile posted below for mobile users:
Gardening at least until April 30 2014--
BK 7 Discharged April 2010 | Current Lines: OCCU Duck Visa $12,000 (4% util, opened 10/2013) | Alliant FCU Platinum Visa, $15,000 (10% util, opened 5/2013) | Barclays iTunes Visa $6000 ( 1% util, opened 11/2011) | Best Buy MC $800 (0% util, opened 5/2010 | M&T Bank Checking Overdraft LOC $500 (0% util, opened 1/2007)

Most recent scores (Jan 2014): EQ 680 | EX 715 | TU 722

 

 
Gardening at least until April 30 2014--
FICO: 695 (as of 3/27/2014; M&T Bank Beacon 5.0 EQ FICO) | BK 7 Discharged April 2010 | Current Lines: OCCU Duck Visa $12,000 (1% util, opened 10/2013) | Alliant FCU Platinum Visa, $15,000 (5% util, opened 5/2013) | Barclays iTunes Visa $6000 ( 1% util, opened 11/2011) | Best Buy MC $800 (0% util, opened 5/2010 | M&T Bank Checking Overdraft LOC $500 (0% util, opened 1/2007)

Most recent scores (March 26 2014): EQ 701 | EX 751 | TU 705
Message 1 of 9
8 REPLIES 8
user5387
Valued Contributor

Re: DCU Membership, take the hard hit now or wait?

Joining DCU and getting a CC results in two hard EQ pulls.

 

 

Message 2 of 9
09Lexie
Moderator Emerita

Re: DCU Membership, take the hard hit now or wait?


@MC9199 wrote:

I am eligible for DCU membership but haven't joined yet. I plan to app for one of their Visa crds in May. I am targeting them because I feel I have a good chance of getting a 5-10K or greeater credit line with them.

 

I'm just wondering if there is any benefit to joining now and taking the EQ inquiry hit, and setting up a savings account to build some history with them until I apply for the card.

 

Or would I be able to join and apply for the card in May with just one inquiry - if account history with them is not a big consideration?

 

Thanks.

 

Profile posted below for mobile users:
Gardening at least until April 30 2014--
BK 7 Discharged April 2010 | Current Lines: OCCU Duck Visa $12,000 (4% util, opened 10/2013) | Alliant FCU Platinum Visa, $15,000 (10% util, opened 5/2013) | Barclays iTunes Visa $6000 ( 1% util, opened 11/2011) | Best Buy MC $800 (0% util, opened 5/2010 | M&T Bank Checking Overdraft LOC $500 (0% util, opened 1/2007)

Most recent scores (Jan 2014): EQ 680 | EX 715 | TU 722

 

 

DCU does not use the same hp for cc/membership.  IIRC, there was mention if you app in a branch you were able to use the same hp.  

With your scores, you should be fine with an approval.  Your bk will be 4 years old and the newest TL will be at least 6 mos old. If you get your score up on EQ, your APR would be better. 

 

 

They started me out with $10k and my CS was 714. I don't believe that they are sensitive to banking relationships. 

Message 3 of 9
MC9199
Valued Member

Re: DCU Membership, take the hard hit now or wait?


@09Lexie wrote:


IIRC, there was mention if you app in a branch you were able to use the same hp.  

 


I see. I was thinking app online for membership the same day as applying for the card, but I guess they would not be able to approve membership online AND process the credit app on the same day, and thus would not be able to use the same hard pull.

Gardening at least until April 30 2014--
FICO: 695 (as of 3/27/2014; M&T Bank Beacon 5.0 EQ FICO) | BK 7 Discharged April 2010 | Current Lines: OCCU Duck Visa $12,000 (1% util, opened 10/2013) | Alliant FCU Platinum Visa, $15,000 (5% util, opened 5/2013) | Barclays iTunes Visa $6000 ( 1% util, opened 11/2011) | Best Buy MC $800 (0% util, opened 5/2010 | M&T Bank Checking Overdraft LOC $500 (0% util, opened 1/2007)

Most recent scores (March 26 2014): EQ 701 | EX 751 | TU 705
Message 4 of 9
09Lexie
Moderator Emerita

Re: DCU Membership, take the hard hit now or wait?


@MC9199 wrote:

@09Lexie wrote:


IIRC, there was mention if you app in a branch you were able to use the same hp.  

 


I see. I was thinking app online for membership the same day as applying for the card, but I guess they would not be able to approve membership online AND process the credit app on the same day, and thus would not be able to use the same hard pull.


I would make sure the membership is aporoved before applying for their cc.  If you app early enough and get an instant approval for membership, you might get lucky with the cr reporting as one hp.  However, I would not count  on them using the same hp 

Message 5 of 9
cyclesport45
Established Member

Re: DCU Membership, take the hard hit now or wait?

I joined DCU last January, and while there (in branch), the nice lady convinced me to get a Visa.  One pull for opening checking and Visa. 

Chase Freedom(5.3K), Citi Double Cash (8.8K). Citi Thank You Preferred(10.2K) DCU Platinum Rewards(10K), REI Visa(9.6K) Amex Blue Sky(5K), Amex Blue Cash Preferred (20K), Crate & Barrel (3.5K) Discover IT(16.5K) CSP (28K)
Message 6 of 9
09Lexie
Moderator Emerita

Re: DCU Membership, take the hard hit now or wait?


cyclesport45 wrote:

I joined DCU last January, and while there (in branch), the nice lady convinced me to get a Visa.  One pull for opening checking and Visa. 


Yep, I am glad to know my memory isn't fading. Smiley Wink

 

Message 7 of 9
kroberts67
Established Contributor

Re: DCU Membership, take the hard hit now or wait?

They can use the same HP for c/c & say a loan refi, but membership is it's own HP.  They will pull EQ.

FICO: EQ 814 | TU 847 | EX ? (Started in the low 500's... you can do it!)

Amex BCE $25000, Amex AP $20000, SFFCU Visa $15000 + LOC $5000, USAA Amex $6000, USAA MC $7000, Cap1 $9500, Freedom $12000, Slate $500, Barclays "RIP" SM $11500, USBank Cash+ $12500, Citi Diamond $11200, Citi Double Cash $12000, Care Credit $13500k.
My Credit Repair Journey
Message 8 of 9
juggalo9er
Valued Contributor

Re: DCU Membership, take the hard hit now or wait?

how bk friendly is dcu?

Message 9 of 9
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