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Frequent Contributor
racer-x
Posts: 377
Registered: ‎09-16-2012
0

DCU credit card question(s)? UPDATE

[ Edited ]

I've been looking at the DCU VISA platinum or rewards card.

I understand the membership situation and how to become a member and whatnot.

 

I just received a new $3500 CL, 8.9% VISA from my CU, GECU.  I also took out an auto loan with my CU for $8200 for a vehicle that I already own to pay down my Cap One/Suzuki finance with a reporting $15k CL.  Balance on that account is $726 now, but is yet to be updated on my reports.  In about (8) days, my utilization is going to go from 50% to 3-4%, with a total available credit reporting at $20K.

GECU pulls EQ exclusively, but the new account(s) have only been reported to EX and TU, but not EQ as of yet.

 

This is what my EQ CR shows as of today:

 

Walmart - $700, $0 bal

Cap One - $500, $0 bal

US BANK reserve line - $750, $0 bal

Cap One/Suzuki - $15k, $8200 bal (reporting as of today, but will be $726 on the CR's in a week or two)

I have (1) inquiry reporting on EX from my little Cap One $500 card from 12/08/10, it should have fallen off by now.

Income is $60K.

DTI, 6-7%.

EQ is squeaky clean, TU and EX have (1) paid collection ($165).

AAoA 1yr. on EQ

 

EX and TU are currently showing that info plus the new GECU CC with a $3500 CL and the new GECU auto loan, $8200.  EX dropped from 677 to 669 per experian.experiandirect.com just today.

 

Question is, should I app for a DCU VISA now with a 695 EQ and without the new TL's on the EQ CR , or wait for the new TL's to show up and wait for the very big reduction in my utilization from 50% to 3-4% whch will happen in a week or two? 

My score is surely to jump on EQ...it should hit the 720 range? 

 

My concerns are that once the new GECU card and new GECU auto loan are reported to EQ and I wait for that to happen to apply for a DCU card, it may hinder me with DCU wih getting a card or a high-ish CL?

 

My understanding is that DCU pulls EQ exclusively as well.  Which is my best CR.


Starting Score 9/12: EQ 645 TU 641 EX 651
Current Score5/13: myFico EQ 729 DicoverTU 710 myFico EX 734
Goal Score: 750

AMEX PRG,AMEX BCP-$15.1k,US Bank PLOC-$15K,CSP-$15k,Freedom-$6k,CapOneVisa-$15k,US Bank Visa-$10k, DCU Visa-$10k,Paypal MC-$15k,USAA MC-$12k,Lowes-$8600,CapOne Visa-$10k,Discover IT-$12.9K,BoA Visa-$10.1K Walmart -$4k,GECU Visa-$3500, US RLOC-$750

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Valued Contributor
kevinjjc
Posts: 1,374
Registered: ‎01-14-2009
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Re: DCU credit card question(s)?

Just curious, why are you considering app'ing for a DCU credit card? Their credit cards don't look too rewarding.

Valued Contributor
kevinjjc
Posts: 1,374
Registered: ‎01-14-2009
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Re: DCU credit card question(s)?

[ Edited ]

Also a heads up, you can get a $50 Amazon gift card if you apply from Amazon.com instead of directly on DCU's website.

 

I started a thread on this: http://ficoforums.myfico.com/t5/Credit-Cards/50-Amazon-gift-card-for-app-ing/m-p/1766996

Frequent Contributor
racer-x
Posts: 377
Registered: ‎09-16-2012
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Re: DCU credit card question(s)?

Because DCU pulls EQ and that is my best score, with no negs and no inquiries.


Starting Score 9/12: EQ 645 TU 641 EX 651
Current Score5/13: myFico EQ 729 DicoverTU 710 myFico EX 734
Goal Score: 750

AMEX PRG,AMEX BCP-$15.1k,US Bank PLOC-$15K,CSP-$15k,Freedom-$6k,CapOneVisa-$15k,US Bank Visa-$10k, DCU Visa-$10k,Paypal MC-$15k,USAA MC-$12k,Lowes-$8600,CapOne Visa-$10k,Discover IT-$12.9K,BoA Visa-$10.1K Walmart -$4k,GECU Visa-$3500, US RLOC-$750

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Valued Contributor
kevinjjc
Posts: 1,374
Registered: ‎01-14-2009
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Re: DCU credit card question(s)?

Alliant Credit Union also pulls EQ.

Established Contributor
toppers555
Posts: 551
Registered: ‎09-28-2012
0

Re: DCU credit card question(s)?

they give high limits, but make sure you have no baddies on chexsystem for both or you will be declined membership, and waste muti hp's.



TU 715 No apps to 05/13 cash+ 5/13!!! 738 TU CSP April 13!!!CSP approved May 13!!!


Frequent Contributor
racer-x
Posts: 377
Registered: ‎09-16-2012
0

Re: DCU credit card question(s)?

No baddies on chexsystem, good point though.

 

Still looking for advice on whether or not to wait for  an updated higher EQ score and new TL's showing, or apply now with a lower EQ score and no new TL's reporting?


Starting Score 9/12: EQ 645 TU 641 EX 651
Current Score5/13: myFico EQ 729 DicoverTU 710 myFico EX 734
Goal Score: 750

AMEX PRG,AMEX BCP-$15.1k,US Bank PLOC-$15K,CSP-$15k,Freedom-$6k,CapOneVisa-$15k,US Bank Visa-$10k, DCU Visa-$10k,Paypal MC-$15k,USAA MC-$12k,Lowes-$8600,CapOne Visa-$10k,Discover IT-$12.9K,BoA Visa-$10.1K Walmart -$4k,GECU Visa-$3500, US RLOC-$750

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Valued Contributor
Rhaeny
Posts: 1,507
Registered: ‎07-24-2011
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Re: DCU credit card question(s)?


kevinjjc wrote:

Just curious, why are you considering app'ing for a DCU credit card? Their credit cards don't look too rewarding.


The rewards are not that great, but with his scores he could get a nice limit with DCU.  Depends on what his goal is.  If its not the rewards but the limit then go for it, if it is rewards and not the limit then go elsewhere.  My goal was higher limits and that's why I chose them.  I had the choice between either card but, as you said, the rewards aren't that great so I chose the platinum.


Major CC's - Barclay's ($5.5K) | Barclay's Sallie Mae MC ($5K) | DCU ($7.5K) | Discover IT ($1.4K) | Genisys Visa ($1.4K) | NFCU Visa ($22K) | Navcheck ($15K) | Chase Freedom ($5K) | SDFCU Visa ($8K) | Amex BCP ($9.5K) | Amex Delta ($10K) |Store CC's| -Amazon ($4K) | Catherines ($850) | JCP ($4K) | Macy's ($1.7K) | Avenue ($850) | Victoria's Secret ($1.4K) | Walmart ($4.1K) | Paypal SC ($1.3K) | HSN ($2.5) | Sears ($2.6K) | Sams Club ($4.1K) |Goal|: Age with grace to 750 across the board |Last app|: 3/3/2014
Valued Contributor
Rhaeny
Posts: 1,507
Registered: ‎07-24-2011
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Re: DCU credit card question(s)?

[ Edited ]

racer-x wrote:

No baddies on chexsystem, good point though.

 

Still looking for advice on whether or not to wait for  an updated higher EQ score and new TL's showing, or apply now with a lower EQ score and no new TL's reporting?


With your current score I would say yes, but not with that high utilization showing.  You should wait until your utilization goes down because you won't get as high of a limit (if that's what is important to you).

 

EDIT:  Dang....just noticed your AAoA is 1 year so with that I would definitely recommend waiting until your utilization drops.


Major CC's - Barclay's ($5.5K) | Barclay's Sallie Mae MC ($5K) | DCU ($7.5K) | Discover IT ($1.4K) | Genisys Visa ($1.4K) | NFCU Visa ($22K) | Navcheck ($15K) | Chase Freedom ($5K) | SDFCU Visa ($8K) | Amex BCP ($9.5K) | Amex Delta ($10K) |Store CC's| -Amazon ($4K) | Catherines ($850) | JCP ($4K) | Macy's ($1.7K) | Avenue ($850) | Victoria's Secret ($1.4K) | Walmart ($4.1K) | Paypal SC ($1.3K) | HSN ($2.5) | Sears ($2.6K) | Sams Club ($4.1K) |Goal|: Age with grace to 750 across the board |Last app|: 3/3/2014
Frequent Contributor
racer-x
Posts: 377
Registered: ‎09-16-2012
0

Re: DCU credit card question(s)?

Rhaeny - Thanks, that advice/info helps for sure.  The utilization will absolutely be 3-4% in 8 days or so.  I wired Cap One/Suzuki $7500 on 12/07/12.  It's been posted on my account, but my next Cap One statement isn't until the 3rd - 5th of Jan., so the CR's won't update til then.

 

I am shooting for higher limits, btw.


Starting Score 9/12: EQ 645 TU 641 EX 651
Current Score5/13: myFico EQ 729 DicoverTU 710 myFico EX 734
Goal Score: 750

AMEX PRG,AMEX BCP-$15.1k,US Bank PLOC-$15K,CSP-$15k,Freedom-$6k,CapOneVisa-$15k,US Bank Visa-$10k, DCU Visa-$10k,Paypal MC-$15k,USAA MC-$12k,Lowes-$8600,CapOne Visa-$10k,Discover IT-$12.9K,BoA Visa-$10.1K Walmart -$4k,GECU Visa-$3500, US RLOC-$750

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