topic Re: GreenState Credit Union Approved Me A 10K Card Based On A Soft Pull in Credit Card Approvals

GreenState Credit Union Approved Me A 10K Card Based On A Soft Pull

HeavyResist — Fri, 11 Feb 2022 04:52:29 GMT

I am new to forums and I am posting this because it was such a unique approval. I have never heard of a soft pull credit offer without even applying for it first. It was the strangest credit encounter I have ever had. So I figured I would let others know and add a data point for others who may be able to take advantage as I didn’t see the place mentioned in the Forums.

I only started leaning about being more strategic with credit in the last 18 months. GreenState Credit Union (formerly University of Iowa Credit Union), HQ in Iowa City, Iowa, was one of several credit unions I joined to apply for credit products after establishing a relationship.

After joining online on a Saturday, I received a phone call the following Monday from their credit department. The man who called me thanked me for joining and confirmed my information. He then explained that I was approved for $10K credit line and that I could pick between three cards if I was interested.

First I asked if this was a joke. Then I asked if there was a hard pull involved. He said no, and explained to me that part of the approval process for opening an account uses a soft pull of TransUnion using Fico 8 to verify information (my TU8 score was 722 at the time).

The credit department then uses that soft pull to offer lines of credit to new members who meet their criteria. Apparently this is something they do often to add more members to their credit products.

After asking more questions I found out the following about the CU and their credit products. (a recent phone call I made to their loan department confirmed the details)

The cards are all MC, ~~one had a yearly fee~~. (I choose the no fee Platinum Rewards)
Soft Pull TransUnion w/Fico 8 scoring for account opening. Hard pulls for direct applications for products.
CLI’s are not automatic
CLI’s requires a new Hard Pull.
Any HP is good for 30 Days for other credit products such as Auto and Personal Loans in any combination. I was advised after the first pull online to call in to be evaluated for other products.
Membership requires someone to live or work in Iowa, or a county in Illinois, Wisconsin, Nebraska or South Dakota that borders Iowa.

I have now had this card for 10 months and haven’t had any issues. Customer service is easy to work with. The interface for the card is the same as my accounts, and doing a simple transfer takes care of the bill. I have used it, but plan to sock draw it as the rewards from other cards are better and there is no advantage to me having besides have the increased credit line.

Quick details about my credit picture at the time:

CH7 BK August 2012 (Divorce)

Fico 8 Scores March 2021

Home Mortgage: M&T Bank - (09/2020) 95K

Personal income: 95K/year (work + rental income)

Not pretty, but its hard to argue with 10K credit line

Re: GreenState Credit Union Approved Me A 10K Card Based On A Soft Pull

Anonymous — Thu, 10 Feb 2022 05:10:42 GMT

Congratulations! It's hard to argue with a no HP approval. Unfortunately I don't live near Iowa, so not an option for me. Cool to know though.

Re: GreenState Credit Union Approved Me A 10K Card Based On A Soft Pull

cashorcharge — Thu, 10 Feb 2022 05:13:05 GMT

That's terrific!! Congratulations on your Greenstate Approval!! 🎉🥂👏

Re: GreenState Credit Union Approved Me A 10K Card Based On A Soft Pull

Elpadrino1 — Thu, 10 Feb 2022 05:16:48 GMT

Congratulations on your approval!!

Re: GreenState Credit Union Approved Me A 10K Card Based On A Soft Pull

CreditAggie — Thu, 10 Feb 2022 06:40:08 GMT

Congratulations on your GreenState CU approval!

Re: GreenState Credit Union Approved Me A 10K Card Based On A Soft Pull

dmFICO8 — Thu, 10 Feb 2022 06:47:20 GMT

Congratulations on your approval!

Checking their CC page, they offer 3 credit cards, they are all no-annual-fee cards.

Checking their join page for membership eligibility, it shows 4 options:

Anyone living or working in Iowa, or nearby counties in Illinois, Wisconsin, Nebraska or South Dakota.
University of Iowa students, staff, and alumni.
Direct relatives of current GreenState Credit Union members.
Members of the Iowa Consumer Council/American Consumer Council.

I test ran the online application, option 4 is not on the selection list, if someone is interested, one has to call to inquire about option 4, American Consumer Council can be joined by anyone at no cost, making you eligible for membership.

Re: GreenState Credit Union Approved Me A 10K Card Based On A Soft Pull

gdale6 — Thu, 10 Feb 2022 15:40:59 GMT

Sweet, grats on the 5 figure approval

Re: GreenState Credit Union Approved Me A 10K Card Based On A Soft Pull

Anonymous — Thu, 10 Feb 2022 16:12:14 GMT

Congratulations @HeavyResist on your excellent approval. Thank you for the detailed accounting of your process. Very helpful.

Re: GreenState Credit Union Approved Me A 10K Card Based On A Soft Pull

HeavyResist — Thu, 10 Feb 2022 16:42:04 GMT

@dmFICO8 wrote:
Congratulations on your approval!

Checking their CC page, they offer 3 credit cards, they are all no-annual-fee cards.
Checking their join page for membership eligibility, it shows 4 options:
Anyone living or working in Iowa, or nearby counties in Illinois, Wisconsin, Nebraska or South Dakota.
University of Iowa students, staff, and alumni.
Direct relatives of current GreenState Credit Union members.
Members of the Iowa Consumer Council/American Consumer Council.
I test ran the online application, option 4 is not on the selection list, if someone is interested, one has to call to inquire about option 4, American Consumer Council can be joined by anyone at no cost, making you eligible for membership.

Thanks for adding what I missed. I think the product line might have changed if they no longer have a fee card. I'll edit that part. I imagine if anyone can join it may be extremely helpful to other rebuilders. I'm wondering if I should do I full review if my experience with the card. Any advice?

Re: GreenState Credit Union Approved Me A 10K Card Based On A Soft Pull

NoMoreE46 — Fri, 11 Feb 2022 18:34:18 GMT

Excellent write up and welcome to My Fico @HeavyResist .

Re: GreenState Credit Union Approved Me A 10K Card Based On A Soft Pull

mrshardy3022 — Sun, 24 Jul 2022 13:06:38 GMT

Yes I agree I just opened an account also got approve for they MasterCard rewards can't beat the 3x points on gas 2x points on groceries.. I also applied for they platinum credit card as well both was approved for 10k a piece.. I also upgraded my check account to the rewards account sense I do use my credit card for everything. They are an awesome credit union besides Dupaco ( which I also love)

Re: GreenState Credit Union Approved Me A 10K Card Based On A Soft Pull

babygirl1256 — Sun, 24 Jul 2022 15:16:21 GMT

Congrats on your GreenState Credit Union approval . . . great DPs . . . thanks for posting!!!

Re: GreenState Credit Union Approved Me A 10K Card Based On A Soft Pull

mfinsmi1 — Sun, 24 Jul 2022 15:39:18 GMT

@mrshardy3022 was it a HP for joining / membership ?

Re: GreenState Credit Union Approved Me A 10K Card Based On A Soft Pull

mrshardy3022 — Sun, 24 Jul 2022 15:41:54 GMT

It's was a soft pull to join they only had me preapprove for a 1000 so they had to do a hard pull.. on Transunion

Re: GreenState Credit Union Approved Me A 10K Card Based On A Soft Pull

MCM1 — Tue, 26 Jul 2022 03:51:48 GMT

Are you sure the credit is a soft pull? I was checking out and got to that page and it said the inquiry would impact your credit.

Re: GreenState Credit Union Approved Me A 10K Card Based On A Soft Pull

mfinsmi1 — Tue, 26 Jul 2022 05:07:13 GMT

@MCM1 i just did it this morning, got the checking acct and credit card all w/out a hard pull