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Senior Contributor
txjohn
Posts: 4,214
Registered: ‎09-12-2008
0

Re: Experience with UFCU in TX?


pattycake wrote:
If you rest your mouse above the explanations, it will give a description.  When I called, the CSR told me that 740 or above is excellent credit, 680+ is good credit, and anything below 680 falls into the other ranges.  They refi'd my 17.5% car loan to 11.5% a few years ago, then dropped me to 4.95% in 2008. 

 

Super Congrats, Patty!

 

So, for the benefit of all:

 

1.  How many recent inquires did you have prior to app?

2.  How many new accounts did you have prior to app?

3.  What if any derogs?

4.  What is your utilization?

5.  What was your highest CL (reported) prior to app?

 

I ask, because you obtained the lowest fixed rate with scores less than 740.  So obviously other factors relate to the APR.

 

:smileyhappy:

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
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09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Established Contributor
pattycake
Posts: 760
Registered: ‎04-30-2007
0

Re: Experience with UFCU in TX?


 

So, for the benefit of all:

 

1.  How many recent inquires did you have prior to app? 1 - EQ

2.  How many new accounts did you have prior to app? none showing on CB yet, but PenFed is only acct less than 6 mo

3.  What if any derogs? old baddies from late 2004, early 2005

4.  What is your utilization? less than 7% (paid off Lowe's)

5.  What was your highest CL (reported) prior to app? $10.6k - Citi

 

I ask, because you obtained the lowest fixed rate with scores less than 740.  So obviously other factors relate to the APR.

 

I have actually always qualified for the lowest fixed rate there for my car loans, likely because I am an existing customer and have always paid on time.  Be prepared to show proof of income.  

pattycake's FICOs: 6/2/10 - TU: 708; EX: ???; EQ: 749
Senior Contributor
txjohn
Posts: 4,214
Registered: ‎09-12-2008
0

Re: Experience with UFCU in TX?

INCOME???!!!!!????   You need income???!!!!????   That's just downright unreasonable!

 

 :smileywink: 

 

 

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
Frequently Requested Threads * FICO High Achievers  *  FICO Score Estimator


09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Established Contributor
pattycake
Posts: 760
Registered: ‎04-30-2007
0

Re: Experience with UFCU in TX?


txjohn wrote:

INCOME???!!!!!????   You need income???!!!!????   That's just downright unreasonable!

 

 :smileywink: 

 

 


 

What's interesting to me is that PenFed never asked for it, but UFCU did.  Hmmm.
pattycake's FICOs: 6/2/10 - TU: 708; EX: ???; EQ: 749
Senior Contributor
txjohn
Posts: 4,214
Registered: ‎09-12-2008
0

Re: Experience with UFCU in TX?

[ Edited ]

How was the CL determined?  Did they ask you what your desired limit was, or do you apply and they auto assign one? 

 

The only accounts that did not ask for income verification for me was PSECU, Discover, CapOne.

 

Alliant initially pre-approved me, but their system glitched and it took an LO to get my CC right and he asked me to "fax paystubs for the file"

 

Of course, with PenFed I asked for $25k, so asking for pay stubs is probably to be expected.

 

 

Message Edited by txjohn on 08-01-2009 08:30 AM

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
Frequently Requested Threads * FICO High Achievers  *  FICO Score Estimator


09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Established Contributor
pattycake
Posts: 760
Registered: ‎04-30-2007
0

Re: Experience with UFCU in TX?


txjohn wrote:

How was the CL determined?  Did they ask you what your desired limit was, or do you apply and they auto assign one? 

 

The only accounts that did not ask for income verification for me was PSECU, Discover, CapOne.

 

Alliant initially pre-approved me, but their system glitched and it took an LO to get my CC right and he asked me to "fax paystubs for the file"

 

Of course, with PenFed I asked for $25k, so asking for pay stubs is probably to be expected.

 

 

Message Edited by txjohn on 08-01-2009 08:30 AM

 

The first thing they asked was my desired limit.  I hate that question, but the CSR told me that they counter if the limit is too high.  I asked for the $10K outright, so maybe I'll get $20K in a few years.  This is now my lowest APR card, second to BofA (7.24%). 
pattycake's FICOs: 6/2/10 - TU: 708; EX: ???; EQ: 749
Regular Contributor
FocusOnFICO
Posts: 180
Registered: ‎05-01-2009
0

Re: Experience with UFCU in TX?

Congratulations on the new card!  I have listed the CU on my task list for down the road, since I've already added four CUs lately.  Great tip.

Starting Score: TU 766 EQ 788
Current Score: TU 788 EQ 811
Goal Score: TU 800 EQ 800


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Frequent Contributor
CreditCard101
Posts: 401
Registered: ‎02-23-2009
0

Re: Experience with UFCU in TX?

When I applied for the CC my score was in the 600s something.  I requested for $3K initially, and they approved. They were really nice and friendly. The only thing I dislike is everytime you want to increase your CL they always do a hard pulled on your credit report. They always pulled mine from Equifax, so always a ding ding..

BTW, I have the Mastercard Great Rates with the UT tower image...

 

 

Established Contributor
pattycake
Posts: 760
Registered: ‎04-30-2007
0

Re: Experience with UFCU in TX?

Yeah, that's the one I want, too.  They didn't ask me which one, but maybe because I still have to submit my payment receipts to them.  It's a hassle being self-employed, especially as a consultant, because contracts are confidential.  
pattycake's FICOs: 6/2/10 - TU: 708; EX: ???; EQ: 749
Frequent Contributor
CreditCard101
Posts: 401
Registered: ‎02-23-2009
0

Re: Experience with UFCU in TX?

You'll be okay. They are all nice ppl are UFCU..


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