topic Re: Gesa Credit Union Diamond Cashback Approval in Credit Card Approvals

Gesa Credit Union Diamond Cashback Approval

Anonymous — Tue, 27 Apr 2021 18:02:27 GMT

Sorry for the long post but I wanted to share my recent experience with Gesa Credit Union.

I used the prequal tool on their website:
https://apply.gesa.com/?_ga=2.38140259.1132333385.1619542462-2064859120.1619030963

I was expecting the usual "sorry we are unable to find any prequalified offers for you" message, but to my surprise it came back with "Congratulations, select your prequalified offer to continue!"

There were 2 choices, prequalified for $14,500 and I could select the Visa Diamond Cashback card w/13.24% APR, or the Platinum card w/10.99% APR. I couldn't believe it! Not only the highest SL I've ever been offered, but also not the highest of the range of possible APRs for these cards! The range for the Diamond Cashback card is 10.24% - 18.24%, my offer was 13.24%. And the range for the Platinum card is 6.99% - 18.99%, my offer was 10.99%! So I say YOLO and pull the trigger for the Platinum card. The next day a rep from the CU calls me to ask some additional questions and says I will hear back in about an hour, I'm ecstatic! Everything seems good to go and I'm planning my next move on cancelling a couple of my toy limit AF starter cards now that I'm feeling like I've finally made it into the big kids world!

Needless to say, I'm a little shocked when just a little over an hour later, I get a denial email from them! Wtheck?! I immediately call the rep from the CU to inquire about the denial. She's in shock too and tells me that she needs to touch base with the UWs and she'll get back to me soon. The next morning she calls to tell me that the reason for the denial was due to my BK being less than 3 years old (apparently one of the UW requirements) and that she has submitted a dispute based on the fact that the prequal tool had me prequalified w/a solid SL and APR (I sent her the screenshots). I have to say, she really went to bat for me, which I'm impressed considering I'm not an existing member with them!

Anyways, the UW came back with a counter, same terms (Platinum card, 10.99% APR) just a lower SL, $5,000. Considering the fact that I wasn't even supposed to be approved at all based on their UW requirements, I'll take it! This is my second highest SL I've ever had, my Disco being my highest @ $6,000 (approved back in January).

While I was waiting to hear back I researched both the Platinum and Diamond cards and decided I would have rather had the Diamond card, it has the same Cashback earnings rate as my NFCU Cashback card (1.5%) and a better SUB, only have to spend $2,000 in the first 90 days to earn a $200 bonus (NFCU was spend $3,000 to earn $150 bonus).

I ask her if it wouldn't be too much trouble to PC to the Diamond Cashback card and she offers an auto refi (just refied back in Jan from Ally bank @ 16.91% to Consumers CU @ 5.99%). She says, what if I can get you 3.49%? I ask, will this be another HP, she says nope so I say go for it. So she is instant messaging with the UW and asks for the PC to the Diamond card and the auto refi, UW say YES and YES!

So, approved for Diamond Cashback card, $5,000 SL, 13.24%, and looking at the card benefits, I think this is a Visa Signature card.

They pulled EQ (not sure which version), they have my score @ 698.

• Earn unlimited 1.50% cash back
• Receive $200 Bonus Cash Back after $2,000 in qualified purchases within the first 90 days after account opening
• 0% APR* intro rate on purchases for 6 months and on balance transfers for 12 months; after that, variable rates of 10.24% - 18.24% APR apply based on creditworthiness
• No annual fee
• No balance transfer fee
• Visa® Signature Concierge

Re: Gesa Credit Union Diamond Cashback Approval

AllZero — Tue, 27 Apr 2021 18:16:26 GMT

Congratulations on your approval and refinance! Excellent job on the reconsideration.

Re: Gesa Credit Union Diamond Cashback Approval

CreditMagic7 — Tue, 27 Apr 2021 18:28:17 GMT

Wow and Wow! Now this is an excellent story and we all thank you for sharing that experience with them and literally snatching a WIN straight out of the jaws of bitter defeat. Your persistence and valid screenshots made a world of difference. As did IMHO that seems at least the one rep she went to the carpet for you and persisted herself to your favor. That even lower auto refi was a bonified blessing.

What's left to say? CONGRATULATIONS!!

Re: Gesa Credit Union Diamond Cashback Approval

CreditAggie — Tue, 27 Apr 2021 18:41:58 GMT

Congratulations on your approval and refinance!

Re: Gesa Credit Union Diamond Cashback Approval

M_Smart007 — Tue, 27 Apr 2021 18:42:18 GMT

Congratulations on your Gesa Credit Union Diamond Cashback approval!

Re: Gesa Credit Union Diamond Cashback Approval

Ficoproblems247 — Tue, 27 Apr 2021 18:45:40 GMT

Yet another reason it pays to be a member of a CU. That's an awesome story and I'm glad it turned out to have such a happy ending! Congrats to you on a great approval and an unexpected refi!

Re: Gesa Credit Union Diamond Cashback Approval

gdale6 — Tue, 27 Apr 2021 19:25:28 GMT

Grats on the Gesa approval

Re: Gesa Credit Union Diamond Cashback Approval

tbque — Tue, 27 Apr 2021 19:45:05 GMT

Congrats on your GESA approval! Way to persist!

Re: Gesa Credit Union Diamond Cashback Approval

MyFault — Tue, 27 Apr 2021 20:09:44 GMT

Congrats!

Re: Gesa Credit Union Diamond Cashback Approval

Credit4Growth — Tue, 27 Apr 2021 21:52:18 GMT

🍻 Congratulations on your Diamond approval and the refinance!

Re: Gesa Credit Union Diamond Cashback Approval

dudefromtx — Tue, 27 Apr 2021 22:15:07 GMT

Wow! That's an awesome story! Congrats to you!

Re: Gesa Credit Union Diamond Cashback Approval

Anonymous — Wed, 28 Apr 2021 01:39:35 GMT

Thanks all!

I'm still working on the refi - turns out my current lender hasn't changed the title to their name yet (refied on January 28!), which is an issue for Gesa. But my LO is going to bat yet again trying to get an exception to be able to fund this refi. I will make a post in the Auto Loans forum and update the progress on the refi over there!

I'm super excited about the CC approval though! The card is already showing up in my online banking! 😁

Re: Gesa Credit Union Diamond Cashback Approval

Total80sKid — Wed, 28 Apr 2021 08:37:07 GMT

Thank you for sharing your story! Congrats on the nice SL and APR! 🥳🎉