topic Re: DCU: EXPERT LEVEL NEEDED STAT in Credit Card Applications

DCU: EXPERT LEVEL NEEDED STAT

bourgogne — Sat, 13 Jul 2019 00:00:58 GMT

Thanks to south jamica on another thread I found that one can pair a checking account and use it for overdraft for no fees and interest that should hover around 10.75. this is exactly what I want. when I went through checking app it must have done an inline sp because it offered me a card for $5K. not to come off as jaded but that strikes me on the low side as most of my limits are 30+. my question is should I just ignore it and cold app and will I have a better shot or will 5 be the max and just do a grab? are cli hp's? I want it for overdraft and $5K is a heck of a lot better than the $ 500 that nfcu is offering me. any comments most welcome and thank you.

funny thread https://ficoforums.myfico.com/t5/Personal-Finance/NFCU-CLOC-500-REALLY/td-p/5676869

Re: DCU: EXPERT LEVEL NEEDED STAT

Anonymous — Sat, 13 Jul 2019 00:07:17 GMT

DCU is conservative so I doubt they will give you more than the $5K. They review accounts every quarter though and you can get a SP CLI if it shows in the loan center. They don’t hike the APR on their cards for cash advances so it’s a much cheaper advance line than a CLOC or PLOC tend to be and they don’t have a cap on how much you can use for cash, you can pull the entire card if need be. There is a form you can have them email you that will let you use the VISA as your overdraft protection as well.

Re: DCU: EXPERT LEVEL NEEDED STAT

jaxstraw — Sat, 13 Jul 2019 01:09:13 GMT

@bourgogne wrote:
Thanks to south jamica on another thread I found that one can pair a checking account and use it for overdraft for no fees and interest that should hover around 10.75. this is exactly what I want. when I went through checking app it must have done an inline sp because it offered me a card for $5K. not to come off as jaded but that strikes me on the low side as most of my limits are 30+. my question is should I just ignore it and cold app and will I have a better shot or will 5 be the max and just do a grab? are cli hp's? I want it for overdraft and $5K is a heck of a lot better than the $ 500 that nfcu is offering me. any comments most welcome and thank you.

funny thread https://ficoforums.myfico.com/t5/Personal-Finance/NFCU-CLOC-500-REALLY/td-p/5676869

Like SJ said they tend to be conservative with their CC's as compared to some other lenders.

That being said I'd call in tomorrow and explain the situation and see if you could get the SCL bumped to at least 10k.

While I rarely, if ever, have seen any SCL in the 20-30k range I have seen a fair amount at 10k.

Who knows ? Maybe you can get more.....you always have the 5k in your back pocket if it doesn't work.

Re: DCU: EXPERT LEVEL NEEDED STAT

bourgogne — Sat, 13 Jul 2019 03:33:29 GMT

thank you for both of your comments. I just wrote to nfcu so I will see if they step up but i am not holding my breath. re dcu, I am not sure what you mean, take the $5K and then call and try and get a larger starting limit? kind of hard to believe but I have never done this, I have always gotten the limit I wanted. $10-20k would be great, 5 is a little on the short end just thinking re utilization. fill me in! thank you!!

Re: DCU: EXPERT LEVEL NEEDED STAT

jaxstraw — Sat, 13 Jul 2019 04:06:17 GMT

@bourgogne wrote:
thank you for both of your comments. I just wrote to nfcu so I will see if they step up but i am not holding my breath. re dcu, I am not sure what you mean, take the $5K and then call and try and get a larger starting limit? kind of hard to believe but I have never done this, I have always gotten the limit I wanted. $10-20k would be great, 5 is a little on the short end just thinking re utilization. fill me in! thank you!!

Call first before accepting it.

Give yourself a chance to talk to UW to see if it can be increased.

While the HP you took to open a checking account is good for 30 days for all credit products.... I'm not sure that if you accept it now and then call for an increase that would fall under that blanket.

Maybe it does but why take the chance when a simple phone call answers all questions ?

Re: DCU: EXPERT LEVEL NEEDED STAT

FinStar — Sat, 13 Jul 2019 04:09:57 GMT

@bourgogne wrote:
thank you for both of your comments. I just wrote to nfcu so I will see if they step up but i am not holding my breath. re dcu, I am not sure what you mean, take the $5K and then call and try and get a larger starting limit? kind of hard to believe but I have never done this, I have always gotten the limit I wanted. $10-20k would be great, 5 is a little on the short end just thinking re utilization. fill me in! thank you!!

True, but it doesn't always work out that way for every lender. Fingers crossed with NFCU [CLOC], but I would temper your expectations. DCU is somewhat conservative, so $5K may not be a bad start, but it might be a challenge to persuade them to reconsider to $20K.

Re: DCU: EXPERT LEVEL NEEDED STAT

bourgogne — Sat, 13 Jul 2019 04:11:26 GMT

@jaxstraw wrote:
@bourgogne wrote:
thank you for both of your comments. I just wrote to nfcu so I will see if they step up but i am not holding my breath. re dcu, I am not sure what you mean, take the $5K and then call and try and get a larger starting limit? kind of hard to believe but I have never done this, I have always gotten the limit I wanted. $10-20k would be great, 5 is a little on the short end just thinking re utilization. fill me in! thank you!!
Call first before accepting it.
Give yourself a chance to talk to UW to see if it can be increased.
While the HP you took to open a checking account is good for 30 days for all credit products.... I'm not sure that if you accept it now and then call for an increase that would fall under that blanket.
Maybe it does but why take the chance when a simple phone call answers all questions ?

understood, the process allows to save the app, I dont think the checking is done yet + I read nothing about a hardpull. measure 2x cut 1x, I like your way of thinking, thank you. they seem to at least have their portal act part of things together which is nice

Re: DCU: EXPERT LEVEL NEEDED STAT

bourgogne — Sat, 13 Jul 2019 04:20:28 GMT

@FinStar wrote:
@bourgogne wrote:
thank you for both of your comments. I just wrote to nfcu so I will see if they step up but i am not holding my breath. re dcu, I am not sure what you mean, take the $5K and then call and try and get a larger starting limit? kind of hard to believe but I have never done this, I have always gotten the limit I wanted. $10-20k would be great, 5 is a little on the short end just thinking re utilization. fill me in! thank you!!
True, but it doesn't always work out that way for every lender. Fingers crossed with NFCU [CLOC], but I would temper your expectations. DCU is somewhat conservative, so $5K may not be a bad start, but it might be a challenge to persuade them to reconsider to $20K.

I have 0 expectations that nfcu will step up. I told them to add a 0 for starters or give me $10k which would make me happy or to cancel the app and make it a sp so I can forget it ever happened. maybe a touch snarky but its sent so there is no turning back lol. I can see their position but to get $65.6K more from pnc a week ago on a sp it really makes me wonder about nfcu world. I actually really like the dsu package and I worked for dec in the late 70s before ibm so its got a vibe for me. if I got a dsu @ 10 I would walk away happy from it all, seems like if I use it a bit they might increase it over time. I am really out of pratice with this stuff + chase and amex have ruined me for high limits. even nfcu was an instant @ 25k 3 years ago. live and learn..

Re: DCU: EXPERT LEVEL NEEDED STAT

Anonymous — Sat, 13 Jul 2019 05:15:41 GMT

DCU doesn’t HP for membership. They use Chex and an EQ SP.

Re: DCU: EXPERT LEVEL NEEDED STAT

bourgogne — Sat, 13 Jul 2019 05:24:43 GMT

@Anonymous wrote:
DCU doesn’t HP for membership. They use Chex and an EQ SP.

yeah, I just read about that. you know the language on the card offer is interesting, says approved up to 5k but does that really mean it tops out @5? if nfcu bombs out which I think it will i am tempted to just app and recon for a higher limit after. I like that they actually advertise the overdraft feature that i am looking for, on most cards it hidden. like the interest. just like it. almost hope nfcu does not work out. thank you for your comments on the topic, helpful

Re: DCU: EXPERT LEVEL NEEDED STAT

AverageJoesCredit — Sat, 13 Jul 2019 12:20:24 GMT

I cant help but keep seeing your " i got 66k from x lender so why dont they do the same" . You've been 8n the game long enough to know every lender is different and just because one lender gives you x amount that it doesnt mean another lender has to or will match. Sorry, imo, if someone was putting that in my face then coming at my lending institution as if we are wack for not doing the same id be put off. Please remember when sm'ing them or corresponding with them, i would keep your statement respectful and conscise. Some people csn actually read sarcasm or anger and a csr or uw are human after all. Just my 2 cents , worthless though it may be

Re: DCU: EXPERT LEVEL NEEDED STAT

bellrock190 — Sat, 13 Jul 2019 12:47:47 GMT

My experience with DCU in January of this year:
I applied online with a thin file but high score ( have lived abroad for several years so the old TLs were contributing to the score).
I was told that I was approved, but that I would need to verify my identity. On the phone, the CSR to me that my CL was 10K.
Figuring to myself "I have nothing to lose", I asked her if I could get the other cc, the Rewards, with the same pull. She put me on hold for a few minutes and came back with " approved, also for 10k".
So my advice is to call and speak with them and try to raise the limits on the card.
In the last 6 months they have been very easy to work with, imo.

Re: DCU: EXPERT LEVEL NEEDED STAT

bourgogne — Sat, 13 Jul 2019 13:48:17 GMT

@AverageJoesCredit wrote:
I cant help but keep seeing your " i got 66k from x lender so why dont they do the same" . You've been 8n the game long enough to know every lender is different and just because one lender gives you x amount that it doesnt mean another lender has to or will match. Sorry, imo, if someone was putting that in my face then coming at my lending institution as if we are wack for not doing the same id be put off. Please remember when sm'ing them or corresponding with them, i would keep your statement respectful and conscise. Some people csn actually read sarcasm or anger and a csr or uw are human after all. Just my 2 cents , worthless though it may be

I hear what you are saying. its not if this lender gave me this than so should you, but what lacks for me is the parity between them. if I have been with nfcu your years, I have a card and checking and nothing pos or neg has happened, I pop up on the grid and I get a wrist slam vs here you go, come on aboard, that is what i have difficulty with vs doing a checking accounting online with dcu and midway through a dialoge comes up saying, hey, we dont know you but here is $5K if you want it. even though 5k is low in my orbit I feel more positive about them and the experience. honestly even if nfcu offered me 5 or 10 at this point I would pass just because I dont think they get it or me and I have a more positive impression of dcu. I want to be around people that get me even if I am just a #. dont even attempt logic in any of this, just woke up and 0 coffee lol

Re: DCU: EXPERT LEVEL NEEDED STAT

bourgogne — Sat, 13 Jul 2019 13:51:17 GMT

@bellrock190 wrote:
My experience with DCU in January of this year:
I applied online with a thin file but high score ( have lived abroad for several years so the old TLs were contributing to the score).
I was told that I was approved, but that I would need to verify my identity. On the phone, the CSR to me that my CL was 10K.
Figuring to myself "I have nothing to lose", I asked her if I could get the other cc, the Rewards, with the same pull. She put me on hold for a few minutes and came back with " approved, also for 10k".
So my advice is to call and speak with them and try to raise the limits on the card.
In the last 6 months they have been very easy to work with, imo.

good advice, thank you. I will do this vary thing after I finish up the app. will prob wait for monday at this point

Re: DCU: EXPERT LEVEL NEEDED STAT

CreditInspired — Sat, 13 Jul 2019 15:30:55 GMT

@AverageJoesCredit wrote:
I cant help but keep seeing your " i got 66k from x lender so why dont they do the same" . You've been 8n the game long enough to know every lender is different and just because one lender gives you x amount that it doesnt mean another lender has to or will match. Sorry, imo, if someone was putting that in my face then coming at my lending institution as if we are wack for not doing the same id be put off. Please remember when sm'ing them or corresponding with them, i would keep your statement respectful and conscise. Some people csn actually read sarcasm or anger and a csr or uw are human after all. Just my 2 cents , worthless though it may be

+1. Exactly my thoughts.

Re: DCU: EXPERT LEVEL NEEDED STAT

KLEXH25 — Sat, 13 Jul 2019 17:19:53 GMT

DCU has been great. When I was looking for an Auto Loan last year, they were one of the few to approve me. My scores were fine (767), but my credit history was thin and young. In one day, I got approved for checking, savings, an auto loan for up to $25k, and a $5k credit card (when I only had 2 other cards with $300 & $500 limits). That was in October. On July 1st, I logged into my account and was preapproved for a SP CLI to $10k on my card, among 7 other various preapprovals up to $50k in my loan suite. I'll be taking them up on the refinance offer, which will save me over $1k.

I also want to add that I recently overdrafted because a bill that I thought had been changed over to my Visa, was still withdrawing from my checking. DCU automatically drafted from my savings and the fee was only $5. Wells Fargo probably would have charged me at least $30. Needless to say, I'll be changing my accounts over full-time.

Re: DCU: EXPERT LEVEL NEEDED STAT

bellrock190 — Sun, 14 Jul 2019 18:52:50 GMT

Sure thing.
Looking forward to seeing how they respond. Keep us posted.

totally serious, is dcu just winging it?

bourgogne — Sat, 20 Jul 2019 22:46:15 GMT

no intention of beating a dead horse here or flaming the cu as I like what I see, i am just curious for my own edification. I got membership that I am sure is being cancelled as I type this. during the membership process there was an inline lookup done and based on this query I was pre-approved or offered in my lingo a $5K card, no strings attached in writing that I took to mean an unconditional offer. somehow in my mind, misguided as it might be, this offer based on it being within another app process carried more weight than a chase or amex pre-approval app one might get via a browser.

long story short I completed the app via phone, was told about a hard pull but at no time was the requirement of returns mentioned. I now firmly believe that is one is self-employed with dcu they want 2 years of returns. I know there are exceptions to the rule but in general this is what I believe, the cu is return happy. they should put this in bold faced neon imo, we are not in Europe where credit is done by in large based on employment and banking, we still base much of our credit on scores and returns are for mortgages. imo.

I sent them a well crafted document both uploaded via their portal on 7/15 before I was a member and via email on 7/15 directly to dcu-loan@dcu.org post-membership covering the topic and requesting the $5K they offered me. never heard back except for an email 6 hours after my email to them which is below.

my question is simple; how can one be approved for something based on a condition such as returns? nfcu was crystal clear that same day with me via sm, `conditional' - I knew exactly where I stood. I know I am being obtuse and this is a semantics deal but really, how can one be approved based on a condition, it makes zero sense to me. what make perfect sense, however, is for them to cancel my membership and turn the hp into a sp and unring the bell like it never happened. on many levels it seems like they are a neat little outfit and I just hit a snag with the returns and my interpretation of their dialogue with me. guess I just take offers at face value, this feels like some sort of bait and switch which i know its not. again, big picture this is no big deal but big enough that I feel better writing about it so thank you

mods, move this where it should go, I never get this right lol

EDIT, not that it matters but the approval is for $20k with returns. I want the $5K unconditional offer that popped up during the app.

Re: totally serious, is dcu just winging it?

Anonymous — Sat, 20 Jul 2019 21:38:33 GMT

so, they countered with $500 down from $5000?

Most CU's are DTI sensitive and require docs for approvals. In most cases if you're W2 then it's a paystub but, SE means you cough up your 1040's.

If it's an issue then just don't reply and they'll cancel the app. The HP sticks because you hit submit though.

If you submit the 1040's though as you said you get a $20K CC from them.

Re: totally serious, is dcu just winging it?

wasCB14 — Sat, 20 Jul 2019 21:39:52 GMT

Using your credit reports and stated income, they can make a decision as to the CL and APR. The returns are simply to verify the information before the credit becomes available.

Many CUs require some sort of proof of income.