topic Re: AOD FCU Denial 685 FICO 5 Thin File Recent Delinq in Credit Card Applications

AOD FCU Denial 685 FICO 5 Thin File Recent Delinq

Anonymous — Fri, 24 Apr 2020 08:38:45 GMT

Hi all,

I had my hopes up for getting the AOD signature with a 685 eq FICO 5 score which is high compared to my other scores. Turned out the underlying reasons for my other scores being lower caused AOD to deny. Has anyone had any recon success with them?

Re: AOD FCU Denial 685 FICO 5 Thin File Recent Delinq

Hut1 — Fri, 24 Apr 2020 08:55:08 GMT

Recon succes has only been for increased credit limits, not for an outright denial. Sorry.

Re: AOD FCU Denial 685 FICO 5 Thin File Recent Delinq

Eagered2succeed — Fri, 24 Apr 2020 08:55:59 GMT

@Anonymous wrote:
Hi all,

I had my hopes up for getting the AOD signature with a 685 eq FICO 5 score which is high compared to my other scores. Turned out the underlying reasons for my other scores being lower caused AOD to deny. Has anyone had any recon success with them?

Only recon success I saw was to add a co signer. They also were denied do to their dti. I think the recent delinquency scared them especially this late in the app train(been almost a month since they've started getting flooded with apps). Trying to recon doesn't hurt as you've already taken the hard pull. Good luck on whatever you decide to do.

Re: AOD FCU Denial 685 FICO 5 Thin File Recent Delinq

Anonymous — Fri, 24 Apr 2020 11:45:20 GMT

@Anonymous wrote:
Hi all,

I had my hopes up for getting the AOD signature with a 685 eq FICO 5 score which is high compared to my other scores. Turned out the underlying reasons for my other scores being lower caused AOD to deny. Has anyone had any recon success with them?

@Anonymous Sorry to hear about your denial.

Keep your chin up, though. Just because

you were denied this time doesn't mean

you can't try again down the road. AOD is

growing, so if you can at least get a checking

and savings account with them and begin to

establish a good relationship, your prospects

for approval should improve over time.

P.S. AOD offers a no AF share secured card that pays

1% on all purchases and 2% on gas/restaurants.

Would suggest trying this avenue and then hopefully

being upgraded to an unsecured cash back card over time:

https://www.aodfcu.com/personal/credit-card-visa-platinum-share-secured/

Re: AOD FCU Denial 685 FICO 5 Thin File Recent Delinq

EverForward — Fri, 24 Apr 2020 14:58:42 GMT

@Anonymous Sorry to hear about your denial...

@Anonymous I have also been thinking about the AOD Share Secured card. I too have a thin file, additionally I have newer revolvers, 1+ year post Ch7, self employed, so wasn't nearly confident enough to apply for the 3% Signature card.

I had not seen any conversations, or other apps for the Shared Secured card it but sure looks like a good foot in the door card to AOD. They sound like a great CU.

I am doing the same with NFCU and my nRewards card, which I anticipate will graduate in 4+ months.

Re: AOD FCU Denial 685 FICO 5 Thin File Recent Delinq

Anonymous — Fri, 24 Apr 2020 21:45:54 GMT

@EverForward The AOD Share Secured Card has another hidden advantage:

the APR is a fixed rate of 7.49%. Take a look at the first page of AOD approvals

and you'll plainly see that you need a mid-700 EQ5 to qualify for the same rate

on an unsecured card. With $300 and a secured card, you get the same result.

In addition, the same 7.49% APR is available for purchases, balance transfers

and cash advances. If you've ever had a secured card, you know cash advance

fees and APRs are outrageous. This feature alone sells the secured card.

Way back in the day I started with a USAA secured card. It didn't graduate to unsecured,

but what it did do is help me establish credit and open doors down the road. As a result,

AOD just gave me a $5,000 unsecured card and a $5,000 personal loan. The key is not

to worry about what you can't do; just focus on what you can do. Start from where you are.

If you do decide to get the AOD secured card, please take some time to share with us.

You're right: We don't have any data points for the secured card. Folks like you can still

be part of the Anniston Tidal Wave. But you'll start at the base of the wave and eventually

you can work your way up to its peak. Keep your head up!!!

Edit: The APR for the AOD secured card is now 7.2%. Thanks @Anonymous for the correction.

Re: AOD FCU Denial 685 FICO 5 Thin File Recent Delinq

EverForward — Fri, 24 Apr 2020 15:58:58 GMT

Thank you @Anonymous !!! Even my $300 NFCU nRewards is 18%... I PIF so no harm. I use my $500 Cap1 more often as it has more capacity to cover my shopping at SamsClub, then I leave $10-20 on the card at statement cut so I'm <3% debt.

I'd kinda like to get one more card to strengthen my revolver profile. I'll likely wait 4+ months before I ask NFCU for a 2nd card, I'll let my nRewards auto graduate, whenever, but I was thinking maybe a $500 AOD Share Secured card might strenghen my thin profile.

My other FI, 1stBank, has a securd card program, not keen on them right now, and pondering on making a switch, maybe BOA. They have a secured card program too , but havn't betting AOD is a safer bet, not sure.

Thank you for the support, I do realize this is a long game, getting closer to making a decision.

Re: AOD FCU Denial 685 FICO 5 Thin File Recent Delinq

Anonymous — Fri, 24 Apr 2020 17:52:49 GMT

@Anonymous wrote:
@EverForward The AOD Share Secured Card has another hidden advantage:
the APR is a fixed rate of 7.49%. Take a look at the first page of AOD approvals
and you'll plainly see that you need a mid-700 EQ5 to qualify for the same rate
on an unsecured card. With $300 and a secured card, you get the same result.

In addition, the same 7.49% APR is available for purchases, balance transfers
and cash advances. If you've ever had a secured card, you know cash advance
fees and APRs are outrageous. This feature alone sells the secured card.

Way back in the day I started with a USAA secured card. It didn't graduate to unsecured,
but what it did do is help me establish credit and open doors down the road. As a result,
AOD just gave me a $5,000 unsecured card and a $5,000 personal loan. The key is not
to worry about what you can't do; just focus on what you can do. Start from where you are.

If you do decide to get the AOD secured card, please take some time to share with us.
You're right: We don't have any data points for the secured card. Folks like you can still
be part of the Anniston Tidal Wave. But you'll start at the base of the wave and eventually
you can work your way up to its peak. Keep your head up!!!

The share secured card is actually even lower at 7.2% fixed.

Re: AOD FCU Denial 685 FICO 5 Thin File Recent Delinq

EverForward — Fri, 24 Apr 2020 18:43:11 GMT

@Anonymous @Anonymous OK, I spoke with Kim at AOD, very nice lady, such a nice change of pace compared to the last banker I spoke to at 1stBank. A lot of paperwork, but think I'll give it a try. I asked about requirements for us self-employed folks and she said they'd let me know. She said they do have extensive business offerings, which I am pleased, and that I could talk to Tony for more information. I will probably begin my app later today knowing I'll likely not hear back until Monday.

Re: AOD FCU Denial 685 FICO 5 Thin File Recent Delinq

Anonymous — Fri, 24 Apr 2020 21:16:50 GMT

@EverForward Thanks so much for the rapid reply. I'm glad you took action!

Once you're approved, please take a moment to post your data points.

The more avenues for AOD success, the larger the Anniston Tidal Wave

will continue to grow. And as I stated earlier, the secured card has almost

all the same features as AOD's unsecured cards. The only difference is the

security deposit, but among the many rewards is a fixed 7.2% APR.

Thanks again!

Re: AOD FCU Denial 685 FICO 5 Thin File Recent Delinq

Anonymous — Fri, 24 Apr 2020 21:19:10 GMT

@Anonymous Thanks for the correction. You're right.

The secured card is 7.2% fixed. That's a great deal.

https://www.aodfcu.com/credit-cards/

Re: AOD FCU Denial 685 FICO 5 Thin File Recent Delinq

Anonymous — Fri, 24 Apr 2020 21:21:36 GMT

@Anonymous wrote:
@Anonymous Thanks for the correction. You're right.
The secured card is 7.2% fixed. That's a great deal.

https://www.aodfcu.com/credit-cards/

Yeah that's among the best I've ever seen. We have a CU here in CO that has 4.9% fixed on their secured card but their geofence limits the card only to people who live in CO. The AOD one is likely the best one I've seen that anyone can find a path to eligibility for.

Re: AOD FCU Denial 685 FICO 5 Thin File Recent Delinq

M_Smart007 — Fri, 24 Apr 2020 21:27:41 GMT

Sorry for your AOD denial

Re: AOD FCU Denial 685 FICO 5 Thin File Recent Delinq

Meanmchine — Fri, 24 Apr 2020 21:35:25 GMT

Sorry for your denial

Re: AOD FCU Denial 685 FICO 5 Thin File Recent Delinq

EverForward — Fri, 24 Apr 2020 21:55:22 GMT

@Anonymous Is that 4.9% secured card at Arapahoe CU? They seem like they only have a few branches but I've driven by them before.

Re: AOD FCU Denial 685 FICO 5 Thin File Recent Delinq

Anonymous — Fri, 24 Apr 2020 22:00:12 GMT

@EverForward wrote:
@Anonymous Is that 4.9% secured card at Arapahoe CU? They seem like they only have a few branches but I've driven by them before.

Yep, it's Arapahoe. They seem like they have decent offerings but their website really puts me off. If their regular card was 4.9% fixed I would be all over it (although 9.9% and 12.9% fixed rates aren't terrible either) but I don't want to deal with outdated tech unless I'm getting something unique from it. The addition of AOD now means I have two sub-9.99% cards.

Re: AOD FCU Denial 685 FICO 5 Thin File Recent Delinq

Eagered2succeed — Fri, 24 Apr 2020 22:11:00 GMT

@EverForward wrote:
Thank you @Anonymous !!! Even my $300 NFCU nRewards is 18%... I PIF so no harm. I use my $500 Cap1 more often as it has more capacity to cover my shopping at SamsClub, then I leave $10-20 on the card at statement cut so I'm <3% debt.

I'd kinda like to get one more card to strengthen my revolver profile. I'll likely wait 4+ months before I ask NFCU for a 2nd card, I'll let my nRewards auto graduate, whenever, but I was thinking maybe a $500 AOD Share Secured card might strenghen my thin profile.

My other FI, 1stBank, has a securd card program, not keen on them right now, and pondering on making a switch, maybe BOA. They have a secured card program too , but havn't betting AOD is a safer bet, not sure.

Thank you for the support, I do realize this is a long game, getting closer to making a decision.

If you don't decide to go with AOD I highly recommend the BOA secured card. You can get it in the rewards form and possibly get it partially secured. I started with a secured card from NFCU and BOA 5 years ago and that same secured trade-line is now at 60K(sure it can be higher but dont want to poke the bear as that is more than enough). Also there are Bankamerica deals on the card that can get you even more rewards.

Re: AOD FCU Denial 685 FICO 5 Thin File Recent Delinq

Anonymous — Fri, 24 Apr 2020 23:20:10 GMT

@Eagered2succeed

Thanks so much for the BofA secured card tip.

The partial secured card that you're talking about

is the 99/500 card ($99 deposit for a $500 SL).

It's a terrific card if you can get it, and typically it

graduates within 12 months. When I applied for it

back in the day, I got turned down. So I got the USAA

secured card (no longer offered) instead. Thanks again

for sharing. Let's hope things work out for @EverForward

Re: AOD FCU Denial 685 FICO 5 Thin File Recent Delinq

AllZero — Fri, 24 Apr 2020 23:22:55 GMT

That's unfortunate about your denial. I hope you get better luck next time.

Re: AOD FCU Denial 685 FICO 5 Thin File Recent Delinq

Anonymous — Sat, 25 Apr 2020 02:54:34 GMT

Thanks all! I went for the recon today and couldn't really help my case. She essentially said try again when the charge off I have from 2013 falls of in a few months.