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Denied credit at a CU with a 807 FICO score?

Senior Contributor

Re: Denied credit at a CU with a 807 FICO score?


Oppenheimer wrote:

im going to try to open a regular checking account and then wait 6 months and try again to apply for the 6.25% APR credit card.

 

They did a hard pull via the transunion database on me. Will they do another hard pull if i apply for a checking account?

 

has anyone here ever spoken to a manager at this Lake Michigan Credit Union?? Did it help over-ride the decision?


Did you look at SDFCU ?  (sorry I am not a member and cannot comment on experience)

 

https://www.sdfcu.org/CreditCards

 

 

 

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....Last HP 01 NOV 2016...............
Member

Re: Denied credit at a CU with a 807 FICO score?

Thanks, I will look into that one. I wasn't aware of that one. that is still a pretty nice APR.  I guess i might apply for that one if Lake michagin doesn't work out.

Senior Contributor

Re: Denied credit at a CU with a 807 FICO score?

Good luck either way Smiley Happy

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....Last HP 01 NOV 2016...............
Member

Re: Denied credit at a CU with a 807 FICO score?

Thanks. I spoke to someone over there. and from what she told me. it sounds like i have (I think, im not sure) is that i have a "Thin File"  so im having to read up on how to fix a "Thin File" problem.

Member

Re: Denied credit at a CU with a 807 FICO score?

So i spoke with a lady over at the credit union and she said my credit score is 771 from transunion..... but how can that be?? i check my FICO score using transunion on myfico.com and it says 807..... why the mismatch?

Super Contributor

Re: Denied credit at a CU with a 807 FICO score?


Oppenheimer wrote:

So i spoke with a lady over at the credit union and she said my credit score is 771 from transunion..... but how can that be?? i check my FICO score using transunion on myfico.com and it says 807..... why the mismatch?


There are 49 different scoring Fico models out there...could be TU 08, 98 CC enhanced 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Member

Re: Denied credit at a CU with a 807 FICO score?

I learned something new today!

 

 

I feel like a total noob at this credit stuff.

 

Do you have any idea why i would get rejected from getting that credit card with a low 6.25% APR?   (The lady suggested that i get a loan and pay it back to improve my odds). From the clues that ive gathered it seems like im suffering from a problem with a "Thin File" but im not really sure if its that.  Im still learning what a "Thin File" is.

 

but it would seem weird that she suggested i take out a loan and pay it back.... wouldn't my request for a loan ALSO get rejected?  or maybe i should take out a small loan in the amount of $3,000 dollars and pay it back?   i just REALLY REALLY want that credit card with a 6.25% APR.  because i hate paying intrest when/if i do carry a balance. i feel like im stuck in a catch 22 situation.

Moderator Emerita

Re: Denied credit at a CU with a 807 FICO score?

I'm still not clear on how you get past the residency requirement.

A thin file means simply a credit report that has less than or equal to three trade lines.



Moderator

Re: Denied credit at a CU with a 807 FICO score?

I'll eat my own words, but from their eligibility link, to become a member:

 

1)  I live, work, worship, or attend post-secondary school in a county in the state of Michigan's lower peninsula
2)  I am an immediate family member of a current Lake Michigan Credit Union Member
3)  I will donate to the Amyotrophic Lateral Sclerosis (ALS) Association of Michigan. 

 

Back when I joined them, ALS donation was not an option.  oppenheimer, to apply for a card with LMCU, I do know you have to be a member first.  Did you just app for a card, or did you join by donating to ALS?

 

These folks are very conservative (think Penfed).

Member

Re: Denied credit at a CU with a 807 FICO score?

I'm doing option #3

 

I'm donating to ALS.