topic Re: First Tech Denial in Credit Card Applications

First Tech Denial

Anonymous — Mon, 01 Jan 2018 07:57:59 GMT

instead of making a new post i figured i'd post here to share my brief moment with First Tech. I was interested in just a credit card and later an auto loan. So i hung out in the garden so i'd have no new accounts or new inquiries over the past 12 months. Uti is around 20%.. Experian around 780. I did open a new CC to use for a BT before applying. That card is most important right now. Initially an approval with First Tech but i got a call with 100 questions. Then the denial email for membership and the card. Wonder why i got denied for membership

Mod note: I've moved your post to a new thread to get your issue more exposure. UncleB, myFICO Mod

Re: First Tech Denial

heyryan — Mon, 01 Jan 2018 18:53:18 GMT

Did you have a lot of Chex INQs recently? Or any negatives on Chex? I think they're sensitive to both.

For the card denial, they're also sensitive to # of new accounts as well as the amount of open/available credit you have. On your BT, what was your utilization?

Re: First Tech Denial

RicHowe — Mon, 01 Jan 2018 20:10:58 GMT

So you have to be a member to get a card with them? Do you have to open a share account?

Re: First Tech Denial

heyryan — Mon, 01 Jan 2018 20:58:07 GMT

@RicHowe wrote:
So you have to be a member to get a card with them? Do you have to open a share account?

Yes, all credit unions will require you to open a share account to get a loan, credit card, checking, etc. with them. Since they're a cooperative, your share account is also your share in the credit union.