Reply
New Contributor
Posts: 68
Registered: ‎11-07-2010
0

Elan financial visa cli

I can't believe it ! I just received a letter in the mail saying they have increased my credit limit to 10,000 !!!!

 I checked on line and its already there. I didn't even ask for one and i'm so excited !

Transunion Fico 753
Equifax Fico 756
Experian 817 (amex pull)
Senior Contributor
Posts: 3,318
Registered: ‎05-05-2011
0

Re: Elan financial visa cli

Congrats! I tried to get a CC w/them last year when I was rebuilding because my bank offers CCs thru them. They flat-out denied me and wouldn't take my banking relationship into account at all in their decision. I even reconed (before I even knew what that was from here!) to no avail. Of course, if I had known about the forum at the time, I wouldn't have even tried! :smileyhappy:

 

How long have you had your CC? What was the CL before your CLI?

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Senior Contributor
Posts: 4,581
Registered: ‎12-11-2011
0

Re: Elan financial visa cli

I've heard of elan so many times, and the local CU here actually does their CCs through them but I don't know anything about them :smileytongue: 

 

Are they tough? 

;
Senior Contributor
Posts: 3,318
Registered: ‎05-05-2011
0

Re: Elan financial visa cli

IME, yes. I mean, I had a ckg acct at my bank for over 4 yrs and had 2 PIF secured loans that I had opened to rebuild, each showing 1 yr history. I had no other revolvers at the time, but was just looking for a small CL CC to start. Knowing what I know now, I never would have done that. But still, I had 1 yr pos history on 2 TLs and 4+ yrs pos history w/my bank, and flat-out denied.

 

I'd say they're probably in line w/Citi and Amex as far as approvals and what they're looking for. What's unfortunate is that they offer CCs through banks and CUs, but refuse to take that banking relationship into account in underwriting. So, you're really going in cold, like with any of the big bank CCs. Unlike what many have experienced here w/local CUs helping people rebuild or establish credit w/a CC.

 

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Valued Contributor
Posts: 2,505
Registered: ‎11-11-2010
0

Re: Elan financial visa cli

Elan Financial is basically part of US Bank, like how FIA Service is part of BofA.

In My Wallet:
Citi Forward (12/2010) | Citi Dividend (05/2011) | Chase Freedom (11/2011) | GECRB/PayPal (05/2012)
Discover it (07/2012) | AMEX BCP (09/2012) | TD/Target REDCard (10/2012) | Chase Ink Classic (11/2012)
BofA BBR (04/2013) | FNBO/Overstock.com (02/2014) | Barclaycard Arrival (04/2014) | FIA/Fidelity AMEX (04/2014)
Moderator Emeritus
Posts: 7,225
Registered: ‎09-16-2011
0

Re: Elan financial visa cli

I'm glad that you posted this. My husbands bank has been soliciting him for a cc; the fine print said Elan financial. I didn't know much about it but his scores are pretty low so I'm glad he never tried to apply

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge
Established Contributor
Posts: 772
Registered: ‎01-03-2012
0

Re: Elan financial visa cli

I believe they are very conservative, but I have wanted to get in with them because of a relative that has one with a $10,000+ CL.

 

They offer a card through my local bank, and I've tried every time I've gotten a pre-approval letter (maybe 3-4 times over a 10 year period), and I've been declined every time.  This year, I've raised my scores tremendously and tried again last month, and I naturally believed I would get approved and get a nice CL - they pulled TU, and with a 721 I was granted a $3,000 CL - lol!

 

I did get a 0% BT offer for 15 months, so I plan to pay off a small card and see what happens.  Maybe after I demonstrate positive history with them I will also get a CLI.  I'm not holding my breath, though - my credit luck is pretty sketchy.  :smileyindifferent: 


Starting Score: Jan 2012: EQ - 659, TU08 - 670, EX - ???
Current Score:April 2014: EQ - 772, TU08 - 782, EX - 754
Last App:3/21/14

Established Contributor
Posts: 1,837
Registered: ‎08-20-2012
0

Re: Elan financial visa cli

Congrats

New Contributor
Posts: 68
Registered: ‎11-07-2010
0

Re: Elan financial visa cli


bichonmom wrote:

Congrats! I tried to get a CC w/them last year when I was rebuilding because my bank offers CCs thru them. They flat-out denied me and wouldn't take my banking relationship into account at all in their decision. I even reconed (before I even knew what that was from here!) to no avail. Of course, if I had known about the forum at the time, I wouldn't have even tried! :smileyhappy:

 

How long have you had your CC? What was the CL before your CLI?


 

I haven't even had it 6 months and my credit limit was 7000 ! I received a pre-approval in the mail and was approved instantly.

I got the card for a balance transfer and i had a 2800 balance when I got the increase...O APR for 15 monthsand 11.9 after

Transunion Fico 753
Equifax Fico 756
Experian 817 (amex pull)
New Visitor
Posts: 1
Registered: ‎10-22-2012
0

Re: Elan financial visa cli

I got approved for Elan about 8 months back through my bank. I got it because I have horrible credit and trying to rebuild it. It's only for $500, but it's a start. I wonder if I asked for a CLI though if I would get it. My TU is 565.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.