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Regular Contributor
Posts: 117
Registered: ‎03-19-2014
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DCU Membership Application

[ Edited ]

Hello---I applied for a membership at DCU with Savings and Checking account. I plan to add direct deposit for the .5 percent rate reduction on my upcoming auto loan planned.

My application has been pending for a couple weeks now as they have requested additional documents. It's really not a big deal to me---much less painful then my recent mortgage. The most recent snag has to do with my Equifax credit report having a security freeze. Now I mentioned it to them and then they said that was the reason along with some more documents needed.

The friendly rep told me I need to undo the security freeze on Equifax so they could do a 'soft pull' credit check. I'm confused as I thought they would be able to do a soft pull regardless of the freeze.

Does anyone know if DCU does a hard pull or a soft pull credit check for membership, savings and checking account? I know they will need to do a hard pull when I apply for the auto loan but I'd like to avoid two hard pulls if it's possible to get both done with the same pull.

Anyone with DCU experience I thank you in advanced.

Valued Contributor
Posts: 1,616
Registered: ‎12-16-2014
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Re: DCU Membership Application

They did an HP for my membership and savings account.  I know this because I got the HP and was denied because my scores were so bad early in my rebuild, when I reapplyed months later they did another HP and my membership was accepted.  If for some reason DCU denies you or if you get tired with them Penfed has excellent rates and great customer service.

Gardening till 2018, Goal of 700's by the end of 2017
MyFico Scores Aug 2017: EQ 675 TU 695 EXP 698
Established Contributor
Posts: 547
Registered: ‎01-24-2014
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Re: DCU Membership Application

It will be a HP for membership, then another HP for any loan product.


Starting Scores: EQ04: 652 1/19/14 TU98: 664 1/28/14 EX08: 644 2/12/14
Current Scores: EQ08: 735 12/24/16 TU08: 816 12/17/16 EX08: 727 9/5/17
Regular Contributor
Posts: 117
Registered: ‎03-19-2014
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Re: DCU Membership Application

That's what I figured, that it was going to be a HP for membership since they weren't able to complete it with my reports frozen. I wonder why the two reps i specifically asked said it would be a SP only for membership. Maybe they just don't know or are told to state it's a SP even know they know it will be a HP??

 

I'm a little bit bummed out that the interest rates on auto loans just went from 1.74 to 1.99 today March 31st. My application has been pending for two weeks now. I should have got the better rate. Still it's better then my credit union through work which is 2.99 and better then Pennfed for the length of loan I'm interested in (60 months). 

 

Just a little bit taken back by the bad information and all the requested documents so far from these guys. I hope things get better from here.

Thanks for the information.

Regular Contributor
Posts: 160
Registered: ‎02-13-2016
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Re: DCU Membership Application

I am currently applying for their memebership via checking and savings, NOT credit, and it was only an EQ SOFT pull. 

Ps. They're are nuts with all the add on doc requests. 

Regular Contributor
Posts: 117
Registered: ‎03-19-2014

Re: DCU Membership Application

Thanks for the input. I finally got membership approved. The ironic part was that while my membership was pending I went ahead and applied for the auto loan to much sure it wasn't all for nothing. The app was over the phone and took about five minutes from start to approved for 35,000 at 1.99 All I need to do is upload the purchase agreement. Super super fast and easy. Polar opposite of the membership hurdles.

I'm going to the dealership in the morning with financing in hand, credit reports frozen and the vehicle already picked out. I'm going the Tru-Car route with NO add ones whatsoever. I don't like to haggle and I don't have patience for dealer reindeer games.

Haha I will post in the thread for Done Deals with details tomorrow if all goes as planned.
Contributor
Posts: 96
Registered: ‎08-27-2016
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Re: DCU Membership Application


CS850 wrote:

I am currently applying for their memebership via checking and savings, NOT credit, and it was only an EQ SOFT pull. 

Ps. They're are nuts with all the add on doc requests. 


I agree.  The silly requests just won't stop.  And no one is smart enough to ask for ALL that they need at one time.  Instead, it's a bunch of back and forth nonsense.

Contributor
Posts: 96
Registered: ‎08-27-2016
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Re: DCU Membership Application

Well, the membership application piece was a pain in the arse, but I applied for an auto loan and credit card and it was the easiest thing I've done since I used the bathroom.  Totally quick and painless.  About 5 minutes.  Done.  One EQ pull.  Not even asked to verify income.  Approved for $15k limit. My largest ever by far.  NFCU hates me.  Found a CU that will give me a better chance right out of the gate.  Will be DCU all the way from now on.

Frequent Contributor
Posts: 309
Registered: ‎01-01-2016
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Re: DCU Membership Application

[ Edited ]

I became a member last month. Same as you,  waited for at least 2 weeks and had to upload id documents . The rep told me that they use the same membership hp for 45 days for all their credit products. Their credit cards are average so i havent applied for them . I opened a savings account to earn 5.12 % on the first 1000$

QS 7K | Disc11.5k | Amex Evday 6.9K | AmexBluCsh 20K| NFCUcshrewrds15.5K | NFCU more rewards amex 9700K|Penfed cshrewrds 5K | Penfed travel Amex 5K|Consumers Cu Visa signature Cash rebate 6.5K | Blispay 2K| Citi Sim 7K|Citi Double cash 7.1k|
Chase Aarp 4.2K| Chase prime vis sig 3.5K | Paypal 2% Cash back 300| Walmart MC 10K |2nd Disc 3.5K| Amz Store CC 5K | Care credit 5.5K |Marvel MC 5.5K |Good yearCC 2.4k - Over 145k CL all together

FICO SCORES- TU 737, EQ 710, EX729 , AAOA 1 year. Inquiries TONS.
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Valued Contributor
Posts: 1,867
Registered: ‎09-28-2014
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Re: DCU Membership Application

[ Edited ]

I applied for membership today, I thought it was pretty painless. I had my EQ file locked with my EQ Complete Premier service, so I unlocked it just prior to app'ing for DCU membership. They pulled it OK as they asked me 3 security screening questions, all 3 were easy, and I re-locked EQ once I got passed that. At the end all it asked for was a scan of my driver's license - they wanted a utility bill or other proof if address if my DL didn't have my current address, I own my home and have lived here for 12+ years, so no problem.

 

Their car loan rates are great, for refi they're offering as low as 2.24% for up to 65 months. I bought a low mileage 1 car owner 2016 Mazda CX-3 Sept.1 and Vantage West (Tucson AZ area) CU gave me 3.45% for 60 months which I thought was pretty good, but if I can get that DCU rate I'll save over 1/3rd of the interest over the term of the loan. MY EQ Fico is over 720, so that shouldn't be a problem.

 

But yeah, DCU CCs look pretty mediocre, I'll pass.

 

EDIT: I just updated my EQ report through my Equifax Complete Premier service* and see that it was a SP from DCU.

(*EQ Complete Premier is no longer available, EQ is no longer offering any pay services, just their free TrustedID service. But they've continued my Pemier service for free after the data breach)


Fico 08: 720/721/719 TU/EX/EQ

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