topic DCU Counter Offer - Should I Take it? Update: Approved in Credit Card Approvals

DCU Counter Offer - Should I Take it? Update: Approved

WhiteCollar — Fri, 14 Aug 2020 07:58:22 GMT

I've been a member of DCU for several years opening only a savings account. I decided at app for the Visa Platinum card asking for a $6k limit. Well today they countered with a $2k offer. I just got 2 new cards a few weeks ago, an Amex Delta Gold ($1k SL) and Penfed PCR ($10k limit) that have yet to hit my credit reports. DCU pulled EQ, 661 score.

I was rebuilding and currently have 2 cards reporting which are Credit One ($1,600 CL) and Merrick Bank ($2,000). Utilization varies between 1-3% because I PIF monthly. No other debts besides a deferred student loan and car loan with a balance of about $8k. I have been on the straight and narrow for the past 3 years but the past baddies (late payments and charge-offs) due to an unexpected job loss are a thorn in my side.

They did not give me an APR yet but asked me to submit a pay stub which I did. Income is six figures. This a no frills Visa card, no points or cash back. I was hoping to get atleast &5k. Should I accept it?

Thanks in advance for your help.

Mod note: I've updated your subject to reflect your approval; feel free to change/edit if you would like. --UB

Re: DCU Counter Offer - Should I Take it?

Brian_Earl_Spilner — Wed, 12 Aug 2020 13:21:28 GMT

Well, they denied me for a single unpaid charge off and near 700 score, so I probably would have taken it. My last late payment was almost 4 years ago.

Re: DCU Counter Offer - Should I Take it?

Anonymous — Wed, 12 Aug 2020 13:31:29 GMT

I would accept it but just keep in mind that they may keep you in purgatory for awhile. My card has been at $1K since I opened it 2/2019. I had 13.75% APR when it was approved, down to 11.5% after all the prime rate cuts.

Always nice to have a no BT fee or CA fee card around and when they do decide they like you, they'll offer you CLIs with SP.

Re: DCU Counter Offer - Should I Take it?

randomguy1 — Wed, 12 Aug 2020 15:42:08 GMT

I would probably take it given you are in a rebuild.

Re: DCU Counter Offer - Should I Take it?

AverageJoesCredit — Wed, 12 Aug 2020 16:06:20 GMT

you have a Credit One and thinking of not accepting a counter offer for a good card from a good lender? Accept it, better than a denial and it can grow and open up other opportunities with them. If you are rebuilding , these kind of opportunities dont come often

Re: DCU Counter Offer - Should I Take it?

M_Smart007 — Wed, 12 Aug 2020 17:40:48 GMT

@randomguy1 wrote:
I would probably take it given you are in a rebuild.

Re: DCU Counter Offer - Should I Take it?

Anonymous — Wed, 12 Aug 2020 17:48:00 GMT

@WhiteCollar

Heck yeah I would take the offer and be able to dump that Credit One card now. Looks like you are at the point in your rebuild that you no longer need to pay those massive fees. One of the best days I had this year was the day I closed CO. Congrats on the DCU counter offer!!

Re: DCU Counter Offer - Should I Take it?

blindambition — Wed, 12 Aug 2020 17:51:46 GMT

I'd accept it. The SL is in line with your other cards. It's not unreasonable. Also the EQ score was probably a factor.

Re: DCU Counter Offer - Should I Take it?

WhiteCollar — Wed, 12 Aug 2020 18:10:11 GMT

Thanks everybody!! I'm going to take it, use it responsibly and see where it takes me!!

You guys are the absolute best!!!

Re: DCU Counter Offer - Should I Take it?

CYBERSAM — Wed, 12 Aug 2020 18:19:08 GMT

Congrats on your DCU CC 👍👍

Think about dumping CreditOne now 😂

Re: DCU Counter Offer - Should I Take it?

WhiteCollar — Wed, 12 Aug 2020 20:27:59 GMT

Thank you @AverageJoesCredit, point well made!!

Re: DCU Counter Offer - Should I Take it?

WhiteCollar — Wed, 12 Aug 2020 20:29:11 GMT

Thank you, I took your advice.

Re: DCU Counter Offer - Should I Take it?

ocheosa — Wed, 12 Aug 2020 20:50:45 GMT

Congratulations! You've obvioulsy put in the work to bring in a 10k limit. I would also accept the DCU card as it will hopefully grow with you. I would call up Credit One and sing Carol Burnett's I'm So Glad We Had This Time Together , immediately!

Re: DCU Counter Offer - Should I Take it?

cashorcharge — Wed, 12 Aug 2020 21:21:01 GMT

@ocheosa wrote:
Congratulations! You've obvioulsy put in the work to bring in a 10k limit. I would also accept the DCU card as it will hopefully grow with you. I would call up Credit One and sing Carol Burnett's I'm So Glad We Had This Time Together , immediately!

I couldn't resist...

UPDATE...Re: DCU Counter Offer - Should I Take it?

WhiteCollar — Fri, 14 Aug 2020 04:57:07 GMT

Officially accepetd the Visa counter offer with $2k SL with 15.25% APR. (Hopefully I can get it lowered as my score improves) Since I could use the same HP for addtional products, I applied for auto re-fi as well. Received 4.74% for 24 months. I could have gotten 3.74% but I would have had to move all of my (income) deposits over DCU and I don't want to do that. My payment would only have been about $2.00 lower and that was not worth the effort...lol. My old rate was 19.80%...ouch I know, my credit was crap back then. So far I'm please with DCU but thinking about seeing if NFCU can offer a better rate.

Re: UPDATE...Re: DCU Counter Offer - Should I Take it?

M_Smart007 — Fri, 14 Aug 2020 05:00:36 GMT

@WhiteCollar wrote:
Officially accepetd the Visa counter offer with $2k SL with 15.25% APR. (Hopefully I can get it lowered as my score improves) Since I could use the same HP for addtional products, I applied for auto re-fi as well. Received 4.74% for 24 months. I could have gotten 3.74% but I would have had to move all of my (income) deposits over DCU and I don't want to do that. My payment would only have been about $2.00 lower and that was not worth the effort...lol. My old rate was 19.80%...ouch I know, my credit was crap back then. So far I'm please with DCU but thinking about seeing if NFCU can offer a better rate.

Congratulations on your DCU Visa Approval..

Re: UPDATE...Re: DCU Counter Offer - Should I Take it?

AllZero — Fri, 14 Aug 2020 05:17:37 GMT

@WhiteCollar wrote:
Officially accepetd the Visa counter offer with $2k SL with 15.25% APR. (Hopefully I can get it lowered as my score improves) Since I could use the same HP for addtional products, I applied for auto re-fi as well. Received 4.74% for 24 months. I could have gotten 3.74% but I would have had to move all of my (income) deposits over DCU and I don't want to do that. My payment would only have been about $2.00 lower and that was not worth the effort...lol. My old rate was 19.80%...ouch I know, my credit was crap back then. So far I'm please with DCU but thinking about seeing if NFCU can offer a better rate.

Congratulations on your approval!

Re: DCU Counter Offer - Should I Take it? Update: Approved

gdale6 — Fri, 14 Aug 2020 13:38:13 GMT

Grats on your successul app

Re: UPDATE...Re: DCU Counter Offer - Should I Take it?

ocheosa — Fri, 14 Aug 2020 15:06:39 GMT

@WhiteCollar wrote:
Officially accepetd the Visa counter offer with $2k SL with 15.25% APR. (Hopefully I can get it lowered as my score improves) Since I could use the same HP for addtional products, I applied for auto re-fi as well. Received 4.74% for 24 months. I could have gotten 3.74% but I would have had to move all of my (income) deposits over DCU and I don't want to do that. My payment would only have been about $2.00 lower and that was not worth the effort...lol. My old rate was 19.80%...ouch I know, my credit was crap back then. So far I'm please with DCU but thinking about seeing if NFCU can offer a better rate.

Congratulations ! Good decision, the refi alone was a huge savings!

Re: UPDATE...Re: DCU Counter Offer - Should I Take it?

Anonymous — Fri, 14 Aug 2020 16:29:49 GMT

@WhiteCollar

Congrats again on accepting the offer and the great refi rate! Let us know if you get a better rate at Navy but I doubt they will beat DCU. Very happy for your success!! Have a great weekend!