topic Re: DCU Platinum in Credit Card Approvals

DCU Platinum

Anonymous — Mon, 18 Aug 2014 19:03:54 GMT

Approved for (only) 1k along with the pull for my 20k auto loan. I'll take it for now! How is DCU with CLI? I hope they're good.

Re: DCU Platinum

s_haliz — Mon, 18 Aug 2014 19:19:05 GMT

Congrats!!!!

Re: DCU Platinum

alvon123 — Mon, 18 Aug 2014 20:34:54 GMT

congrats

Re: DCU Platinum

-Wade- — Mon, 18 Aug 2014 21:27:38 GMT

@Anonymous wrote:
Approved for (only) 1k along with the pull for my 20k auto loan. I'll take it for now! How is DCU with CLI? I hope they're good.

Congrats on your approval

Re: DCU Platinum

coldnmn — Mon, 18 Aug 2014 22:08:35 GMT

Congrats! Thanks for sharing.

Re: DCU Platinum

Anonymous — Mon, 18 Aug 2014 23:09:52 GMT

Congrats on your dual success!

Re: DCU Platinum

CreditMagic7 — Mon, 18 Aug 2014 23:10:51 GMT

Congrats! Thanks for sharing

Re: DCU Platinum

Grover627 — Tue, 19 Aug 2014 00:58:50 GMT

I just posted this in its own thread, but it certainly applies here as well, so I will repost. Congrats!

A bit of background about me:

* To escape a bad marriage and my ex-wife's reckless spending, I declared ch. 7 bk, which discharged on 4/2012. At the time of my bk7, my FICO scores were in the 530 range.

* Since bk7, I have no lates, and have built my current FICO scores up to the upper 600's.

* My other cards are Cap. One QS $4500, Cap. One QS One $1500, Barclay Rewards $4800, Logix CU $5000, Merrick $900, Lowes $5000, Cap One Jordans $10000, Cap. One Kohls $400, Loft Store card $550, Solutions store card $550

* My utilization is a bit high right now, at around 40%. This is mainly from moving expenses, and will be paid down in the fall.

* I have about 15 total INQ, 12 of which are in the past 12 months.

* I was approved for a mortgage 2 years to the day of my bk7, and closed on a great house on May 29h.

So in June, 2013, I opened a checking account with DCU with the intention of refinancing my auto loan with them. While I was getting approved for a 3.99% auto loan rate, the DCU banker asked if I wanted a DCU credit card. At the time, they could only approve me for a limit oof $500. I accepted it as it was a low-interest rate card (non-rewards), and I figured it would grow.

I returned to DCU in January, 2014, to see about lowering my auto rate again (which they did lower to 1.99%. Since they had to pull my credit again for that, I asked if they could give me a CLI. They gave me a new limit of $1000... beter than nothing, but not what I was hoping to see since I did all my banking with them. The lady I spoke with said that DCU liked to see a solid year of responsible use before considering a bigger increase.

So I called DCU last Thursday, about 14 months after I opened my account, to inquire about their policy in regard to CLIs. I was told that all their CLIs were customer-initiated. I asked for an increase, and when they said how much, I asked for $10000, figuring they would counter much lower. I almost fell over when they came back with an APPROVAL for the entire amount!!

So good, responsible card use, and a good deal of patience has resulted in my DCU credit card limit being raised 20X it's original limit in just 14 months! How awesome is that!!

I know DCU can be tough occasionally in their membership process. However, once in, they treat you like GOLD!

Re: DCU Platinum

wacdenney — Tue, 19 Aug 2014 01:08:39 GMT

@Grover627 wrote:
I just posted this in its own thread, but it certainly applies here as well, so I will repost. Congrats!

A bit of background about me:
* To escape a bad marriage and my ex-wife's reckless spending, I declared ch. 7 bk, which discharged on 4/2012. At the time of my bk7, my FICO scores were in the 530 range.
* Since bk7, I have no lates, and have built my current FICO scores up to the upper 600's.
* My other cards are Cap. One QS $4500, Cap. One QS One $1500, Barclay Rewards $4800, Logix CU $5000, Merrick $900, Lowes $5000, Cap One Jordans $10000, Cap. One Kohls $400, Loft Store card $550, Solutions store card $550
* My utilization is a bit high right now, at around 40%. This is mainly from moving expenses, and will be paid down in the fall.
* I have about 15 total INQ, 12 of which are in the past 12 months.
* I was approved for a mortgage 2 years to the day of my bk7, and closed on a great house on May 29h.

So in June, 2013, I opened a checking account with DCU with the intention of refinancing my auto loan with them. While I was getting approved for a 3.99% auto loan rate, the DCU banker asked if I wanted a DCU credit card. At the time, they could only approve me for a limit oof $500. I accepted it as it was a low-interest rate card (non-rewards), and I figured it would grow.

I returned to DCU in January, 2014, to see about lowering my auto rate again (which they did lower to 1.99%. Since they had to pull my credit again for that, I asked if they could give me a CLI. They gave me a new limit of $1000... beter than nothing, but not what I was hoping to see since I did all my banking with them. The lady I spoke with said that DCU liked to see a solid year of responsible use before considering a bigger increase.

So I called DCU last Thursday, about 14 months after I opened my account, to inquire about their policy in regard to CLIs. I was told that all their CLIs were customer-initiated. I asked for an increase, and when they said how much, I asked for $10000, figuring they would counter much lower. I almost fell over when they came back with an APPROVAL for the entire amount!!

So good, responsible card use, and a good deal of patience has resulted in my DCU credit card limit being raised 20X it's original limit in just 14 months! How awesome is that!!

I know DCU can be tough occasionally in their membership process. However, once in, they treat you like GOLD!

How much usage did you run through the card during those 14 months? I just got approved for the Platinum Visa with a 4k starting limit basically because I wanted the monthly EQ FICO score. With no rewards, I have no idea what I'm going to end up using it for, but if it takes heavier usage to see those 5 figure CLs, I will find something!

Re: DCU Platinum

Anonymous — Tue, 19 Aug 2014 01:48:06 GMT

Congrats!!!

Re: DCU Platinum

Grover627 — Tue, 19 Aug 2014 13:45:27 GMT

With such a low limit, I couldn't run too much through it. I always would run a few hundred dollars each month on the card, and paid in full about half the time. One important thing to note about the DCU card- you are able to transfer $ from your card to your checking fee free to pay other cards... so in essence it is like a fee free BT- very useful!

Re: DCU Platinum

wacdenney — Tue, 19 Aug 2014 14:50:51 GMT

@Grover627 wrote:
With such a low limit, I couldn't run too much through it. I always would run a few hundred dollars each month on the card, and paid in full about half the time. One important thing to note about the DCU card- you are able to transfer $ from your card to your checking fee free to pay other cards... so in essence it is like a fee free BT- very useful!

Sweet! Thank you for your reply. Mine is on its way. I've been stalking the mailman every day...

Re: DCU Platinum

MissMoni223 — Tue, 19 Aug 2014 17:06:38 GMT

CONGRATS!!!

Re: DCU Platinum

Tony275 — Wed, 20 Aug 2014 09:19:06 GMT

Congrats!!

Mine's getting heavy usage, plus they're running a little added benefit with 1% cash back on every purchase through September I believe! That's nice, reward goes straight to the checking account I have with them!

From what I've read on these forums, DCU lets you ask for a CLI with a HP after 12 months! But they're VERY generous!

Re: DCU Platinum

wacdenney — Wed, 20 Aug 2014 15:43:34 GMT

The wierd thing to me is having to wait for the snail mail before you can access your account online. I don't understand why they couldn't include the member number in my approval email or at least via secure message. When I asked they said I had to wait.

Re: DCU Platinum

Kevin5974 — Thu, 21 Aug 2014 07:32:15 GMT

@Grover627 wrote:
With such a low limit, I couldn't run too much through it. I always would run a few hundred dollars each month on the card, and paid in full about half the time. One important thing to note about the DCU card- you are able to transfer $ from your card to your checking fee free to pay other cards... so in essence it is like a fee free BT- very useful!

Seems extremely risky when considering your limit now, huh?