Adding an installment loan -- the Share Secure technique

[Total80sKid]

I keep trying to open a savings account and everytime I get to the end it says this:

you qualify for an Alliant checking account

With Alliant Checking the free benefits really add up.
Pay bills online, and get access to over 80,000 surcharge free ATMs with an Alliant Debit Card. There is no monthly service fee, no minimum balance requirement, no maximum balance limit, no point-of-sale fees and no check writing fees.

Plus, with our High-Rate Checking option, you will earn high interest and there is no minimum balance required to earn it. You must meet two simple requirements monthly to qualify.
If you don’t fulfill each requirement monthly, you won’t earn high-yield checking interest for that month.
1. eStatements: Opt in to receive free eStatements rather than paper statements.
2. One Monthly Electronic Deposit: Have at least one monthly electronic deposit to your Alliant High-Rate Checking Account. Direct deposits, payroll deposits, ATM deposits, mobile deposits and transfers from another financial institution all count.

Would you like to open an Alliant Checking account?

Yes No

-------------------------------------------------------------------------------------------

Does this mean I cannot get a savings acct for a SSL?

My TU/EQ are above 700 and my EX is 686.

I'm confused.

[Total80sKid]

So I just called and they said I am a member now, but have to wait 7-10 days before a packet arrives? Did I miss this in the first post?? I am so impatient lol. So I can't just go and set up a savings account? Seems like a lengthy process. Had the funds ready to do the SSL, but cant until I get my membership info?

[Total80sKid]

Update:

The first CSR i spoke with had no idea what she was talking about.

Called a different # and the CSR laughed and walked me through everything.

Now I have to wait for a small amount to hit my bank account like $0.70 then I can link my accounts and open the SSL and fund it.

Sound about right?

[Anonymous]

Hello T80!  Sorry I cannot be more help, but it has been a long time since I first joined Alliant and set up my savings.

My memory is that I joined and set up the savings account all in about 40 minutes online.  (It did take a couple business days to fund the account after that.)  I reflected my own experience in the guidance, but also made sure that it was typical for most people.

Can other folks comment?  People who have joined Alliant in the last four months and/or who are familiar with the last four months of posts on this thread?  I know that occasionally people seem to have their membership put on hold for a day or two... and I do seem to remember maybe 1-2 people who got delayed until they received a welcome packet.  In general, people seem to fall into these categories:

(1)  Membership and savings account created in < 1 hour.

(2)  Membership and savings account get delayed for one business day, but this may owe (in some cases) due to the time of the application being on a weekend, on a bank holiday, or after 3 pm Eastern time.

(3)  Delay of 2-3 business days.

(4)  Unable to open savings account until welcome packet arrives.

My tentative guess is that the four categories break down like this:

(1)  75% of people

(2)  20% of people

(3)  4% of people

(4)  1% of people

But other folks here may be following this more closely.  Happy to hear if someone can summarize this better.

As far as practical advice for our OP, here are some thoughts:

(1)  Bear in mind that "7 to 10 business days" is a preposterous mantra that all reps of all companies repeat.  As we all know, it doesn't really take the US post 7-10 business days to get something to you.  2-3 BDs is typical.  So you may find that you have received the welcome packet by Tues evening.

(2)  Try to assess where your impatience is coming from.  You may have a concrete urgent need to see a 30 point score boost by Aug 15.  For example, you have got to buy a car by Aug 15 at the latest.  If you genuinely have that sort of urgency, then try giving them a call again on Monday.  Don't mention the SSL technique, but just tell them that you really wanted to set up your savings account and get it funded in the next few days, and that waiting another week isn't ideal for you.  Maybe you'll get a rep who can shortcut the process. 

If after reflection you realize you don't actually have an urgent need (desire does not equal need), then I'd just do your best to relax and wait for the packet.  Maybe it will arrive Tues or Wed.  If it doesn't, you have all of August to get the SSL set up.

[Anonymous]

It looks like I wrote all that while Total8 was on the phone with the second CSR.  In the future I'll give folks a couple days to sort things out themselves before offering advice.

Best of luck....

[Anonymous]

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@Anonymous wrote:

Hello T80!  Sorry I cannot be more help, but it has been a long time since I first joined Alliant and set up my savings.

My memory is that I joined and set up the savings account all in about 40 minutes online.  (It did take a couple business days to fund the account after that.)  I reflected my own experience in the guidance, but also made sure that it was typical for most people.

Can other folks comment?  People who have joined Alliant in the last four months and/or who are familiar with the last four months of posts on this thread?  I know that occasionally people seem to have their membership put on hold for a day or two... and I do seem to remember maybe 1-2 people who got delayed until they received a welcome packet.  In general, people seem to fall into these categories:

(1)  Membership and savings account created in < 1 hour.

(2)  Membership and savings account get delayed for one business day, but this may owe (in some cases) due to the time of the application being on a weekend, on a bank holiday, or after 3 pm Eastern time.

(3)  Delay of 2-3 business days.

(4)  Unable to open savings account until welcome packet arrives.

My tentative guess is that the four categories break down like this:

(1)  75% of people

(2)  20% of people

(3)  4% of people

(4)  1% of people

But other folks here may be following this more closely.  Happy to hear if someone can summarize this better. ...

---

When it comes to getting an Alliant account up and running, there are only two categories that matter here: Instant approval, which results in immediate online access, and delayed approval, which requires either a call to customer service to get your account/member number or a several-day wait until the welcome packet arrives. Even if the delayed approval happens just 30 minutes later, the delayed-approval welcome emails don't include the account/member number, which is required for online access and funding the account.

[Total80sKid]

@CreditGuyInDixie

Thank you for your quick reply and answers.

Please feel free to comment as soon as you see someone having issues or questions.

I promise you that your write ups are much appreciated and used.

The CSR did give me my membership # and I was able to create an online account.

[Asilomar]

Total80sKid,

If you'd read just one post above yours you'd see that I'm in the initial stages myself and went through nearly the same thing that you did.  I've been finding it incredibly helpful to read through the threads as many of my own questions have been asked by others.  

[Asilomar]

UPDATE:  

I began the verification process on the 20th and Alliant made the deposit on the 24th.  Now that that's all done I just need to wait for the funds to become available. 

Also, CreditGuyInDixie, in his initial instructions, said that a few days after opening the savings account a CSR would call.  Looks like they now make that contact via email as I got one today welcoming me and pimping other services.

[Asilomar]

UPDATE:

That was fast.  The funds became available in a little less than 24 hours.

The loan application was easy, just as described.  Now I just need to wait for either a phone call or an email from the LO.