topic Re: Alliant Credit Card Application in Credit Card Applications

Alliant Credit Card Application

Anonymous — Sun, 01 Jan 2017 19:18:07 GMT

Hello All,

I decided to apply for an Alliant CU CC today. So far, it has went unlike any other app ever. I have scoured the forums for some answers, although there are many Alliant threads, none that I found go in to detail about the process much.

I entered all of my information and at the end I hit submit, I got a screen saying "we have received your application" lol that's it? No 3-5 no 7-10 no 30? Nothing? Lol.

Anyone who has apples for a card with Alliant please share your experience with me. For some reason I was just expecting this to go differently and I am now confused. Any help as always is greatly appreciated.

Re: Alliant Credit Card Application

Anonymous — Sun, 01 Jan 2017 19:54:04 GMT

@Anonymous wrote:
Hello All,

I decided to apply for an Alliant CU CC today. So far, it has went unlike any other app ever. I have scoured the forums for some answers, although there are many Alliant threads, none that I found go in to detail about the process much.

I entered all of my information and at the end I hit submit, I got a screen saying "we have received your application" lol that's it? No 3-5 no 7-10 no 30? Nothing? Lol.

Anyone who has apples for a card with Alliant please share your experience with me. For some reason I was just expecting this to go differently and I am now confused. Any help as always is greatly appreciated.

Just guessing. Most likely needs a manual review and that dept is closed today?

Re: Alliant Credit Card Application

Anonymous — Sun, 01 Jan 2017 19:57:39 GMT

you are probably right, I expected the manual review and I know it's a holiday and Sunday to boot. I guess I was just hoping for a little more information than "yep, we got it" lol

Re: Alliant Credit Card Application

Anonymous — Sun, 01 Jan 2017 20:08:46 GMT

Be prepared to provide POI.

Re: Alliant Credit Card Application

Anonymous — Sun, 01 Jan 2017 20:14:21 GMT

Hmmmmm.,. Haven't given that any thought rockbeater. What do they want? Tax returns? Pay stubs? It hasn't gotten to that point yet..... but excellent advice. 👍

Re: Alliant Credit Card Application

Anonymous — Sun, 01 Jan 2017 20:15:11 GMT

Good news is I always put my real income on everything. But to date, no lender has ever asked me to prove it! Lol

Re: Alliant Credit Card Application

gdale6 — Sun, 01 Jan 2017 20:20:20 GMT

CUs operate differently from banks a lot of them want POI when you join and app for credit. Paystubs are what they normally request.

Re: Alliant Credit Card Application

Anonymous — Sun, 01 Jan 2017 20:24:16 GMT

Thanks for the heads up, I will be prepared for that should they require it. There card isn't that great on rewards, but interest rate and limits are attractive. I am hoping they give it to me to go with my checking and savings accounts. I am impresssed with the banking. 👍

Re: Alliant Credit Card Application

Anonymous — Sun, 01 Jan 2017 20:36:15 GMT

Good luck with your Alliant application! My Visa Platinum card approval was instant in July, so I can't speak to the specific message you received, but it would help to know how much you requested for SL.

The Alliant application requires you to list a specific amount for SL and they are very conservative in general with SL. If the amount you requested is higher than they feel comfortable granting, in my experience they turn it down outright rather than countering. (I applied when I first became a member early in 2016 and was denied then; re-applied in July and requested a lower CL for the card and was approved instantly.) Your mileage may vary, of course.

Alliant also uses a Pinnacle scoring system which is different than any other lender I've experienced. Pinnacle scores can be as much as 20-50 points lower than FICO scores.

Overall, I like Alliant very much and hope it goes well for you. Their customer service is outstanding and their checking and savings products are great. Also, they gave me 0% for purchases for 18 months on my Visa Platinum, which I appreciate but is negated a bit by a low SL on the card itself.

I also have an unsecured loan with Alliant and I have prepaid it through May - they have a wonderful feature where they allow you to pay months in advance and I won't have another payment due until May! I took out the unsecured loan primarily to develop the relationship with them further, and also to maximize the HP from the credit card.

Alliant was able to use the same HP for both the credit card and the unsecured personal loan. If you wish to combine two products into one HP, you will need to call in for the second product within 30 days and specifically request them to use the original HP.

They are a very conservative credit union so if you really want a product with them, nurture the relationship and don't give up. I hope it all works out!

Re: Alliant Credit Card Application

Anonymous — Sun, 01 Jan 2017 20:38:16 GMT

Thank for your insight hum, I requested a $7,500 SL. As usual, I got all of my pre application information from here! Lol 5K 7.5k and 10k were all very popular starting lines in the thread I was reading. I chose $7.5 because at the moment I only have one TL higher than that, it's at $8,000. For some reason I just didn't see them extending more than my current high limit. Although I think my income supports more, my credit probably doesn't right now. Lol

Re: Alliant Credit Card Application

Anonymous — Sun, 01 Jan 2017 20:39:46 GMT

Probably will get denied, I don't know what my pinnacle is at, but if it's 30-40 points lower than FICO 08 I am screwed. My current Fico 08 is 698

Re: Alliant Credit Card Application

Anonymous — Sun, 01 Jan 2017 21:31:56 GMT

@Anonymous wrote:
Probably will get denied, I don't know what my pinnacle is at, but if it's 30-40 points lower than FICO 08 I am screwed. My current Fico 08 is 698

Think positive and don't assume a denial. It well may be a manual review. Notice I said YMMV and Pinnacle is often 20 or more points below a FICO score, but not always. There is individual variation within scoring systems, certainly.

Hope for the best, and I wish you the best!

Re: Alliant Credit Card Application

Anonymous — Sun, 01 Jan 2017 20:52:19 GMT

Indeed, thanks!! I am hoping, I guess it could have been worse than "we got it" could have been instantly denied. Will post the results when I hear from them!

Re: Alliant Credit Card Application

Anonymous — Mon, 02 Jan 2017 00:59:18 GMT

Alliant sometimes just requires a lot of patience, you will be ok! A number of people have been reporting SL's of 2k-4k more recently, although YMMV. Inquiries and new accounts can certainly be a factor as well, as Alliant can be sensitive to both.

Alliant specifically told me that they consider 3 or more inquiries in a 12 month period to be a lot. That doesn't mean they will not accept you, but it's something to keep in mind as you wish to submit the strongest profile in applying.

If they turn down your application, perhaps wait 6 months, ensure you have no other recent inquiries or recent new accounts, and try again by requesting a lower SL when you apply.

These cards can grow and some members have it at 10k or 12k now, but a number of the SL's seem much lower at 2k-4k.

I'm not thrilled with their intiial lower starting limits either , as all of my cards have much higher limits, but trying to keep my patience and eventually it will grow.

Credit unions are often more conservative than banks, and remember that Alliant does not often open the purse strings wide as does Navy Federal (wish they did!). Good luck!

Re: Alliant Credit Card Application

JoeLuvsHisCredit — Mon, 02 Jan 2017 00:59:29 GMT

I wish you luck with Alliant!!!!!!!!

Let us know the outcome

Re: Alliant Credit Card Application

CreditDunce — Mon, 02 Jan 2017 07:05:45 GMT

Pinnacle is another name for NextGen. I don't think you can get it from MF, but it should be the same score Penfed provides (assuming Alliant is pulling EQ). Your NextGen score can be higher or lower than your EQ-08. For example, last quarter my EQ NextGen score was 49 points higher than my EQ-08 score. This quarter my NextGen score is only 17 points higher or about the same score as my EQ-08 BE score. NextGen doesn't behave like other FICO models. The score range is 150-950.

Re: Alliant Credit Card Application

Anonymous — Mon, 02 Jan 2017 16:14:28 GMT

The challenging thing with Alliant is that they use Pinnacle 2.0 for decisions, yet they never provide you with that score at all. The score provided to the member is a Vantage 3.0 score. Neither of these is commonly used by lenders, and both often tend to be quite a bit lower than regular FICO scores. I recall Creditaddict saying that his Vantage score was 60 points below his regular FICO score. Mine are always quite a bit lower than FICO as well. YMMV, of course.

Re: Alliant Credit Card Application

Anonymous — Wed, 04 Jan 2017 03:08:57 GMT

Yes, my vantage score is 70 points lower than Fico08 and I pulled Equifax just to see their score it was 673 and my fico08 is 698. I will be surprised if my application results in a card account with them. I can only hope. As of now I ha e not heard a peep out of them about it. I submitted Sunday morning, figured I would hear something today. Guess they are really busy! Lol

Re: Alliant Credit Card Application

Anonymous — Wed, 04 Jan 2017 05:04:09 GMT

Good luck! Keep us posted! I want an Alliant CC as well especially if it has the $400 bonus!

Re: Alliant Credit Card Application

Revelate — Wed, 04 Jan 2017 09:55:05 GMT

@Anonymous wrote:
The challenging thing with Alliant is that they use Pinnacle 2.0 for decisions, yet they never provide you with that score at all. The score provided to the member is a Vantage 3.0 score. Neither of these is commonly used by lenders, and both often tend to be quite a bit lower than regular FICO scores. I recall Creditaddict saying that his Vantage score was 60 points below his regular FICO score. Mine are always quite a bit lower than FICO as well. YMMV, of course.

For most consumers with credit problems I would suggest Vantage is actually higher. My VS 3 scores are around 780-790 depending on particular state for EQ/EX, TU is the outlier which is currently 670ish as I get absolutely hammered on my profile (with the one additional late there from 10/15) when I take an inquiry. Interestingly I've had a high score for years there, and my FICO scores aren't anywhere close to that in my siggy, even when my last tax lien came off EX with my old lates there. People who app more than normal, probably get slapped harder too.

Definitely YMMV.

Nextgen sucks though, and for most people on this forum NG probably hates them (retail tradelines are broken out instead of what's seen in FICO 04/8/9).