Update: PSECU (Approved) $20,000.00

[Anonymous]

Hello All,

I applied for a savings account with PSECU, however I have yet to hear from them.  I wanted to get some opinions regarding qualifying for "lets say" a Personal line of credit and a regular visa card.  My current Experian score is 712 and my Debt Profile is as follows:  Do I have a chance?

Your Debt Profile

Revolving Credit to Debt Ratio

Real Estate/Other

$0

Installment Debt:

$0

Revolving Debt:

$517

Credit Available:

$3,258

% of Credit Available*:

87%

Total Credit Limit:

$3,696

Total Debt:

$517

Total Monthly Payment:

$119

Oldest Account Age The age of your oldest account tells lenders how long you have
been using and managing credit.

2.2 Years

Average Account Age The older the average age of your accounts, the more favorable
you are in the eyes of lenders.

1.0 Years

[wajj]

In my experience, PSECU is very generous with giving credit.  My profile was very similar to yours (AAoA was >5 years though) when I applied for their Visa and LOC (I did them 2 weeks apart unfortunately -- cost was 3 hards rather than 2).  I was approved for a 10K Visa and a 10K LOC tied to the Visa and to checking -- both were auto approved within a couple of minutes. 

PSECU's "auto" approval is a little different than most -- I applied, got an "under consideration" page and then, after a couple of minutes the approval showed up on my messages page.  That happened for both the Visa and the LOC.  My understanding is that $20K is the maximum exposure they will go for but, when you link your Visa and LOC, you get 2 tradelines reporting for $20K each.

[haiti222]

They do take their time processing the paperwork by mail. I think you will get the credit card. With your AAOA, I am not sure about the LOC right away.....The credit card is score driven. All other loans are looked at by a loan officer, I believe.

[Anonymous]

Hello,

Thanks alot!  Okay, so if I applied for the savings account - they are going to pull experian right off the back?  am i correct? 

and if I apply for the visa, that's another pull right? 

Thx!

[Anonymous]

One more ? what were your score? 

[Brianinpa18330grh]

I opened an account 2 weeks ago and on a whim apped their visa, I asked for 15k and was approved instantly at 9.9%. My scores are around 700 but when I got my experian score from them this week is was 658!!!! I dont get it! It does take a little while to get back your membership #. AAA in my book!

[wajj]

---

@Anonymous wrote:

One more ? what were your score? 

---

One EX pull for memebership, another for the Visa.

No idea what my actual FICO scores were -- low 700's based upon what PSECU are currently reporting.

[haiti222]

They do 1 EX pull for membership. If you don't apply for a credit card, they will usually send you a pre-approval letter inviting you to apply for a credit card if you qualify a few weeks after your deposit accounts are open. If you accept, they then do a second pull. Others have just gone ahead and applied.

[Anonymous]

One more very important question:  Do they pull Chexsystems?  I'm in Chex for 100.00 (paid)

[Anonymous]

I answered my last question by calling the new accounts dept.  I was told they only run Experian report.