topic Re: DCU Denial in Credit Card Applications

DCU Denial

Rogue46 — Sat, 20 Apr 2019 14:46:12 GMT

So iv'e been wanting to get in with DCU for awhile now and finally pulled the trigger yesterday. Was approved for checking and savings after donating $10 to a school charity. Since I used a hp for membership I went ahead and apped for the Visa card which was referred to UW.

Within an hour received an email saying a decision has been reached and to call the 800 number. Rep was really nice but was denied due to too many cards since BK7 which was discharged 12/2014. Honestly I was surprised with that answer since I don't think I have a ton of cards compared to others?

The good news is he said I can use the HP on any other product for 45 Days and tried to offer a car loan which I don't need since i'm leasing a vehicle until next April.

I'd like to apply for a personal loan but i'm not sure it would be approved since the basic CC was denied. Any thoughts on my odds for that?

Re: DCU Denial

pinkandgrey — Sat, 20 Apr 2019 16:36:07 GMT

Sorry about the denial. I have no experience with this credit union, but I have seen people get denied for NFCU/Penfed CCs and then turn around and get huge loans. Good luck with whatever you decide!

Re: DCU Denial

Shooting-For-800 — Sat, 20 Apr 2019 20:27:28 GMT

@Rogue46 wrote:
So iv'e been wanting to get in with DCU for awhile now and finally pulled the trigger yesterday. Was approved for checking and savings after donating $10 to a school charity. Since I used a hp for membership I went ahead and apped for the Visa card which was referred to UW.

Within an hour received an email saying a decision has been reached and to call the 800 number. Rep was really nice but was denied due to too many cards since BK7 which was discharged 12/2014. Honestly I was surprised with that answer since I don't think I have a ton of cards compared to others?
The good news is he said I can use the HP on any other product for 45 Days and tried to offer a car loan which I don't need since i'm leasing a vehicle until next April.

I'd like to apply for a personal loan but i'm not sure it would be approved since the basic CC was denied. Any thoughts on my odds for that?

If you have too many cards, I will never join their cu.

GL!

Re: DCU Denial

Anonymous — Sat, 20 Apr 2019 20:53:37 GMT

I have more cards than you and all but one of my cards in my sig was obtained since 3/2018 and they approved me for $1K @ 13.75% in February.

They definitely lean conservative and their cards aren’t really anything special. You have a relationship with PenFed who shot me down cold back in September for adding a whopping three cards in March (one of which was already closed), I would probably get loans from them unless you are planning to make DCU your primary. They’re known for relationship benefits so the more you do with them, the more they open up to you so doors that are closed now may be opened later.

Keep in mind DCU uses your EQ 5 (mortgage) score for all lending decisions so they are a tough nut to crack for us BKers sometimes.

Re: DCU Denial

Rogue46 — Sat, 20 Apr 2019 22:31:50 GMT

I didn't know they used the mortage score. Good to know. My main purpose getting in with DCU is to bring my banking over and possible getting a loan eventually. Penfed has been good to me but they don't seem to want to extend anything but a CC to me. Maybe time will tell but in the meantime Iv'e read good things about DCU and thought i'd give them a look

Re: DCU Denial

Anonymous — Sat, 20 Apr 2019 22:47:36 GMT

My suggestion is to build the relationship with DCU first. If you bring your banking over, you’ll start getting preapproved offers for their products eventually. DCU is a lot more rewarding to their members that make them their primary than most. I really want to make them my primary but until they get Zelle, which may never happen, I can’t unfortunately.

Re: DCU Denial

MyDataMyChoice — Sun, 21 Apr 2019 03:47:12 GMT

@Anonymous wrote:
My suggestion is to build the relationship with DCU first. If you bring your banking over, you’ll start getting preapproved offers for their products eventually. DCU is a lot more rewarding to their members that make them their primary than most. I really want to make them my primary but until they get Zelle, which may never happen, I can’t unfortunately.

What are you using zelle for? I find Zelle to be wonky

Why not next day ACH.... (DCU Does offer this)

Re: DCU Denial

Anonymous — Sun, 21 Apr 2019 05:07:48 GMT

@MyDataMyChoice wrote:
@Anonymous wrote:
My suggestion is to build the relationship with DCU first. If you bring your banking over, you’ll start getting preapproved offers for their products eventually. DCU is a lot more rewarding to their members that make them their primary than most. I really want to make them my primary but until they get Zelle, which may never happen, I can’t unfortunately.
What are you using zelle for? I find Zelle to be wonky
Why not next day ACH.... (DCU Does offer this)

I use it to pay my roommates for things quickly. I have never had a problem with it except when I did an NFCU transfer to my 1stBank account one time it went into 3 day status but the next time it was instant like anything else.

DCU charges for outbound ACH and Zelle is free. I canceled my debit card with my current bank because I didn’t want to pay $10 a year for something I can use for free from NFCU or DCU, I’m definitely not going to pay $10 a month to pay my rent. I’ll just keep my current 1stBank primary, DCU and NFCU secondary setup. It works.

Re: DCU Denial

DaveInAZ — Sun, 21 Apr 2019 13:47:03 GMT

@Anonymous wrote:
My suggestion is to build the relationship with DCU first. If you bring your banking over, you’ll start getting preapproved offers for their products eventually. DCU is a lot more rewarding to their members that make them their primary than most. I really want to make them my primary but until they get Zelle, which may never happen, I can’t unfortunately.

I like DCU, but I haven't found that to be my case. I opened checking & savings in Oct. 2017 when I got a great rate on a car loan for a 1 year old used car, and moved my payroll direct deposit to them to get 'relationship status' which includes a 1/2% discount on loans. But the only pre-approved offer I've ever had is a personal loan up to $1k at 22%, a big No Thanks. But's that's just fine with me, their CCs are very meh. The best things about DCU are car loans and 6% interest on savings up to $1k, great for a rainy day fund.

But @MyDataMyChoice - One thing DCU is NOT great on are ACH transfers. Outbound Push ACH transfers are a $5 fee for 3 day, $10 for next day. Inbound Pull transfers are free for 3 day, $10 for next day.

Re: DCU Denial

MyDataMyChoice — Sun, 21 Apr 2019 14:39:24 GMT

I use bill pay for my Rent... they send a bank check (or electronic of possible)... money is never taken before the due date... and its free

=

Re: DCU Denial

Anonymous — Sun, 21 Apr 2019 16:56:38 GMT

I thought I read somewhere that DCU no longer does a HP for membership. Maybe I'm thinking of some other CU.

Re: DCU Denial

Rogue46 — Sun, 21 Apr 2019 18:24:13 GMT

A HP hasn’t shown up on my report yet so it’s possible

Re: DCU Denial

Anonymous — Sun, 21 Apr 2019 18:42:48 GMT

DCU doesn’t HP for membership.

Dave have you checked in the app - Acct Mgr > Apply for a loan? That’s where any prescreened offers show up. It’s on the website too but I don’t use that. I am a new member so I don’t have any yet but it has opt our verbiage at the top and bottom of the page and @Gmood1 showed his the other day populated with offers for every type of loan they offer.

Re: DCU Denial

Five6Two — Sun, 21 Apr 2019 19:34:17 GMT

My page is full of offers, as well as the opt out language. I applied for CC and requested 10k because that is what PenFed approved me for the day before. DCU said no - “escalating debt”. Their internal scoring cams back at 778. I was bummed but now that you mention that they use the HP for 45 days, I may call and see if they’ll consider me for a lower SL. Or, for PL so I can pay them interest instead of Marcus or current CC with BT offer at 5.99%.

Re: DCU Denial

DaveInAZ — Sun, 21 Apr 2019 20:53:01 GMT

@Anonymous wrote:
DCU doesn’t HP for membership.

Dave have you checked in the app - Acct Mgr > Apply for a loan? That’s where any prescreened offers show up. It’s on the website too but I don’t use that. I am a new member so I don’t have any yet but it has opt our verbiage at the top and bottom of the page and @Gmood1 showed his the other day populated with offers for every type of loan they offer.

LOL! I thought sure I'd used the DCU mobile app before but it made me have them send me a text code to "register a new device". Yep, it's the same as "Loan Suite" on the website, everything is "Apply" except the for the $1k personal loan at 22% that's yellow instead of green and says Accept. And that's fine, I don't want any credit from them other than my current car loan. Now, if BBVA wants to give me pre-approvals that's a different story. . .

Re: DCU Denial

Anonymous — Sun, 21 Apr 2019 21:36:57 GMT

@DaveInAZ wrote:
@Anonymous wrote:
DCU doesn’t HP for membership.

Dave have you checked in the app - Acct Mgr > Apply for a loan? That’s where any prescreened offers show up. It’s on the website too but I don’t use that. I am a new member so I don’t have any yet but it has opt our verbiage at the top and bottom of the page and @Gmood1 showed his the other day populated with offers for every type of loan they offer.
LOL! I thought sure I'd used the DCU mobile app before but it made me have them send me a text code to "register a new device". Yep, it's the same as "Loan Suite" on the website, everything is "Apply" except the for the $1k personal loan at 22% that's yellow instead of green and says Accept. And that's fine, I don't want any credit from them other than my current car loan. Now, if BBVA wants to give me pre-approvals that's a different story. . .

Hmm, I wonder if they require you to have a credit product first to get them. I have their credit card and I’m opted in to receive my EQ5 every month which I imagine is how they prequal.

Its true though, their cards aren’t anything special, although it’s cool that a DCU credit card can double as no-fee overdraft protection, they have no fees other than late fees and no higher interest on advances, and the entire limit is available for advances too.

Re: DCU Denial

DaveInAZ — Sun, 21 Apr 2019 23:57:03 GMT

@Anonymous wrote:
@DaveInAZ wrote:
@Anonymous wrote:
DCU doesn’t HP for membership.

Dave have you checked in the app - Acct Mgr > Apply for a loan? That’s where any prescreened offers show up. It’s on the website too but I don’t use that. I am a new member so I don’t have any yet but it has opt our verbiage at the top and bottom of the page and @Gmood1 showed his the other day populated with offers for every type of loan they offer.
LOL! I thought sure I'd used the DCU mobile app before but it made me have them send me a text code to "register a new device". Yep, it's the same as "Loan Suite" on the website, everything is "Apply" except the for the $1k personal loan at 22% that's yellow instead of green and says Accept. And that's fine, I don't want any credit from them other than my current car loan. Now, if BBVA wants to give me pre-approvals that's a different story. . .
Hmm, I wonder if they require you to have a credit product first to get them. I have their credit card and I’m opted in to receive my EQ5 every month which I imagine is how they prequal.

Its true though, their cards aren’t anything special, although it’s cool that a DCU credit card can double as no-fee overdraft protection, they have no fees other than late fees and no higher interest on advances, and the entire limit is available for advances too.

I've had a car loan with DCU since Oct. 2017, I get my EQ5 score every month. DCU isn't my primary checking, I give it a part of my payroll direct deposit to maintian 'relationshipo status' and pretty much just use their checking to pay my car loan.

Re: DCU Denial

Anonymous — Mon, 22 Apr 2019 00:15:25 GMT

D’oh! How did I miss the car loan? Lol. My bad!

Re: DCU Denial

Anonymous — Mon, 22 Apr 2019 17:11:38 GMT

@Rogue46 wrote:

I'd like to apply for a personal loan but i'm not sure it would be approved since the basic CC was denied. Any thoughts on my odds for that?

Rogue, how about one of their Shared Secured Loans? I had looked into this as well, and may do it later this year. I had planned on making this a modified version of the old Alliant SSL - meaning, instead of paying it off to 8.9% of the original loan, I'd pay it to 28% and hope there's a score threshold there. They allow shared secured loans to go for 10 years - so paying early would still give me 2 years plus of loan 'experience' on my scores for the HP, and show a mostly-paid balance. Not as great as the now unavailable Alliant SSL plan, but it might benefit my thin file.

Re: DCU Denial

Hockeypnc1 — Mon, 22 Apr 2019 23:58:44 GMT

Surprised at this denial

DCU gave me a card with $3,000 limit, re-financed my car loan AND just gave me a personal loan.

I have scores in the 620s-640s and BK 7 was discharged in 12/16