topic Re: Digital Credit Union Visa Platinum Credit Card in Credit Card Applications

Digital Credit Union Visa Platinum Credit Card

Anonymous — Fri, 08 Mar 2019 22:36:52 GMT

I live in Orange County CA and I app'd on 2/27/19 - I was denied.

I called their Loan Servicing Department, and I spoke with a supervisor who explained the denial was due to me having too much available credit. She specifically said, "your available credit cannot exceed more than 25% of your income".

I'm a risk to their organization in other words.

I asked what it would take for an approval... I was told to payoff Lending Club and reapply in one year.

DCU pulled my Equifax Credit Report.

My Equifax FICO 9 Score was 732 (per PenFed - I bank with PenFed).

My UTL was 8%.

Income is 65k.

I have a personal loan through Lending Club for 23k.

NuVisionFCU - 1k (opened 8/2012)
CapitalOne Quicksilver Rewards - CL $10,500 (opened 12/2014)
JCPenney Store CC - CL 6k (opened 12/2014)
Disc. IT - CL $13,500 (opened 10/2018)
BofA Cash Rewards - CL 5k (opened 10/2018)
NFCU - CL 25k (opened 10/2018)
PenFed Power Cash Rewards - CL 10k (opened 10/2018)

Feel free to ask me any questions!

Re: Digital Credit Union Visa Platinum Credit Card

Gmood1 — Fri, 08 Mar 2019 23:10:34 GMT

@Anonymous wrote:
I live in Orange County CA and I app'd on 2/27/19 - I was denied.
I called their Loan Servicing Department, and I spoke with a supervisor who explained the denial was due to me having too much available credit. She specifically said, "your available credit cannot exceed more than 25% of your income".
I'm a risk to their organization in other words.
I asked what it would take for an approval... I was told to payoff Lending Club and reapply in one year.

DCU pulled my Equifax Credit Report.
My Equifax FICO 9 Score was 732 (per PenFed - I bank with PenFed).

My UTL was 8%.

Income is 65k.

I have a personal loan through Lending Club for 23k.

NuVisionFCU - 1k (opened 8/2012)
CapitalOne Quicksilver Rewards - CL $10,500 (opened 12/2014)
JCPenney Store CC - CL 6k (opened 12/2014)
Disc. IT - CL $13,500 (opened 10/2018)
BofA Cash Rewards - CL 5k (opened 10/2018)
NFCU - CL 25k (opened 10/2018)
PenFed Power Cash Rewards - CL 10k (opened 10/2018)
Feel free to ask me any questions!

It must have been the Lending club loan. As I was instantly approved for the same card a few months ago.

The supervisor just gave you an excuse really. My available credit limits well exceed my household income by 25%, more like 700%. lol

Sometimes the CU's can be finicky. There are many here with limits well passed 25% of their income.

Re: Digital Credit Union Visa Platinum Credit Card

AverageJoesCredit — Fri, 08 Mar 2019 23:28:26 GMT

Just close your Navy card to appease the digital credit gods.

Re: Digital Credit Union Visa Platinum Credit Card

Anonymous — Fri, 08 Mar 2019 23:28:35 GMT

Yeah, I totally agree with you!

I even agreed to accept any limit due to the hard inquiry.

I closed my savings account and I ended my membership because of the denial.

Re: Digital Credit Union Visa Platinum Credit Card

Anonymous — Fri, 08 Mar 2019 23:36:13 GMT

LOL.

No way... my APR is a variable 11% but the intro APR is a set 1.99% on purchases (thru 12/2019) and balance transfers (thru 3/2020).

Re: Digital Credit Union Visa Platinum Credit Card

Anonymous — Sat, 09 Mar 2019 04:25:50 GMT

Hmm... That wasn’t my experience with DCU at all. They probably didn’t like the personal loans. Those tend to indicate financial problems.

They gave me a $1K SL on my Platinum card because I had 31.7% usage reporting with NFCU on my Platinum I got in December (balance transfer) but they didn’t say anything about my other credit lines which are multiple times my annual income. They required POI in the form of my SSDI award letter for the year and approved me.

Re: Digital Credit Union Visa Platinum Credit Card

Anonymous — Sat, 09 Mar 2019 05:37:32 GMT

@Anonymous wrote:
I live in Orange County CA and I app'd on 2/27/19 - I was denied.
I called their Loan Servicing Department, and I spoke with a supervisor who explained the denial was due to me having too much available credit. She specifically said, "your available credit cannot exceed more than 25% of your income".
I'm a risk to their organization in other words.
I asked what it would take for an approval... I was told to payoff Lending Club and reapply in one year.

Wow. Sorry to hear about the denial. 25% get real. Find yourself a new lender that will be happy to do business with you.

Re: Digital Credit Union Visa Platinum Credit Card

DaveInAZ — Sun, 14 Apr 2019 19:57:19 GMT

"your available credit cannot exceed more than 25% of your income".

- I would have asked "So, DCU is your day job - are you a stand up comedian at night?"

Re: Digital Credit Union Visa Platinum Credit Card

Hockeypnc1 — Sun, 10 Mar 2019 23:46:44 GMT

They gave me their non-rewards card with a 3K limit.

I was showing about 60 percent usage on both of my two main other credit cards and had about a 620 credit score.

Re: Digital Credit Union Visa Platinum Credit Card

Anonymous — Mon, 11 Mar 2019 21:21:04 GMT

I have a $7900 NFCU Plat Visa, a $1000 NFCU CLOC, a $1000 Citi Secured AND a $1500 DCU Platinum Visa on a $18,336 annual income!!! ... for a ratio of 62% ... I call bs

Re: Digital Credit Union Visa Platinum Credit Card

SouthJamaica — Mon, 11 Mar 2019 22:13:41 GMT

@Anonymous wrote:
I live in Orange County CA and I app'd on 2/27/19 - I was denied.
I called their Loan Servicing Department, and I spoke with a supervisor who explained the denial was due to me having too much available credit. She specifically said, "your available credit cannot exceed more than 25% of your income".
I'm a risk to their organization in other words.
I asked what it would take for an approval... I was told to payoff Lending Club and reapply in one year.

DCU pulled my Equifax Credit Report.
My Equifax FICO 9 Score was 732 (per PenFed - I bank with PenFed).

My UTL was 8%.

Income is 65k.

I have a personal loan through Lending Club for 23k.

NuVisionFCU - 1k (opened 8/2012)
CapitalOne Quicksilver Rewards - CL $10,500 (opened 12/2014)
JCPenney Store CC - CL 6k (opened 12/2014)
Disc. IT - CL $13,500 (opened 10/2018)
BofA Cash Rewards - CL 5k (opened 10/2018)
NFCU - CL 25k (opened 10/2018)
PenFed Power Cash Rewards - CL 10k (opened 10/2018)
Feel free to ask me any questions!

The reason they gave you for the denial is crazy. I don't think the person you spoke to knew what she was talking about.

Re: Digital Credit Union Visa Platinum Credit Card

Gonzozap — Sat, 11 May 2019 16:54:06 GMT

@Anonymous wrote:
I live in Orange County CA and I app'd on 2/27/19 - I was denied.
I called their Loan Servicing Department, and I spoke with a supervisor who explained the denial was due to me having too much available credit. She specifically said, "your available credit cannot exceed more than 25% of your income".
I'm a risk to their organization in other words.

______________________________________________
That excuse is utter and complete bullcrap. There are few folks with good credit who don't have limits topping 25% of their income. Never heard a creditor say such nonsense. DCU by itself gave me a limit more than 25% of income. Add in all the other creditors and it gets crazy.

I detest when CSRs (or someone on the phone by any other title), just make up lies on the spot.

I had NFCU tell me something similar. Though they didn't say my limit couldn't exceed 25% of income, they did imply my recent increase was the most I could get based on my income. I knew that caveat was a lie based on the countless posts on this forum.

Re: Digital Credit Union Visa Platinum Credit Card

CreditInspired — Sat, 11 May 2019 20:53:17 GMT

@Gmood1 wrote:
@Anonymous wrote:
I live in Orange County CA and I app'd on 2/27/19 - I was denied.
I called their Loan Servicing Department, and I spoke with a supervisor who explained the denial was due to me having too much available credit. She specifically said, "your available credit cannot exceed more than 25% of your income".
I'm a risk to their organization in other words.
I asked what it would take for an approval... I was told to payoff Lending Club and reapply in one year.

DCU pulled my Equifax Credit Report.
My Equifax FICO 9 Score was 732 (per PenFed - I bank with PenFed).

My UTL was 8%.

Income is 65k.

I have a personal loan through Lending Club for 23k.

NuVisionFCU - 1k (opened 8/2012)
CapitalOne Quicksilver Rewards - CL $10,500 (opened 12/2014)
JCPenney Store CC - CL 6k (opened 12/2014)
Disc. IT - CL $13,500 (opened 10/2018)
BofA Cash Rewards - CL 5k (opened 10/2018)
NFCU - CL 25k (opened 10/2018)
PenFed Power Cash Rewards - CL 10k (opened 10/2018)
Feel free to ask me any questions!
It must have been the Lending club loan. As I was instantly approved for the same card a few months ago.
The supervisor just gave you an excuse really. My available credit limits well exceed my household income by 25%, more like 700%. lol
Sometimes the CU's can be finicky. There are many here with limits well passed 25% of their income.

Ditto.

OP, If lenders went by that anaology, there are a lot of MyFICOers who would have been denied additional credit, especially me. I mean really! My income is $73K and my total CL is $133K, and there are far more people who CLs exceeds mine by a long shot.Take @Gmood1 for instance

Re: Digital Credit Union Visa Platinum Credit Card

CreditInspired — Sat, 11 May 2019 20:56:14 GMT

@AverageJoesCredit wrote:
Just close your Navy card to appease the digital credit gods.

OP, you know @Anonymous is joking, right. Don't you dare close your NFCU card!

Re: Digital Credit Union Visa Platinum Credit Card

CreditInspired — Sat, 11 May 2019 20:58:19 GMT

@DaveInAZ wrote:
"your available credit cannot exceed more than 25% of your income".

- I would have asked "So, DCU is your day job - are you a stand up comedian at night?"

Re: Digital Credit Union Visa Platinum Credit Card

ChargedUp — Sat, 11 May 2019 23:40:10 GMT

Help me remember... Is DCU what OCTFCU (Orange Co. Teachers FCU) became?

That excuse is LMAO! I hoped you laughed uncontrollably into the phone Like I always say, "Go where your business is appreciated!"

Re: Digital Credit Union Visa Platinum Credit Card

howellco2 — Tue, 21 May 2019 23:24:59 GMT

DCU is Digital Credit Union they are based out of Mass i think......

On another note i got a 2k card with them but I just had my cars refinaced at my local credit union with no problem I asked about a CC since they all ready pulled my credit was told that my Avi credit was too much so basicaly the same you got i got 90k avi credit only 4% uti thou and make about 70k a year