topic Re: SECU to apply or wait? in Credit Card Applications

SECU to apply or wait?

ktl72455 — Thu, 09 Jul 2020 12:43:07 GMT

I donated, got my membership, set up my online account.

EQ08 is 805 not sure EQ05

I goofed and let NF hit with a blance of 7,200.00 I paid but missed the cut off window by 15 min. ( Ughh)

UTL over all is 29% now

New accounts have not hit yet , just the Inq from Langley

I paid off my self lender, not reported yet but will soon and it will drop my score

Im torn of apply now or just wait. I know my score will drop from new accounts.

Input?

Re: SECU to apply or wait?

Gmood1 — Thu, 09 Jul 2020 13:15:11 GMT

Well, as long as the balance reporting is in line with DTI. You may be just fine.

New accounts normally have more of an affect on credit card apps IME.

This is one of those, you'll know within a few seconds of applying what the outcome is.

You are either pre-approved or you are denied.

LO's will go with whatever the computer spits out.

They'll only call to make sure you were the one who applied and not a fraudster. If you are pre-approved.

They don't seem too concerned with new accounts. I'm the poster boy for those.

I know of only one person that was denied for escalating debt by SECU.

The others were either approved or denied because membership didn't go through.

SECUs loan department reminds me of BECU but so does the fraud department.😂😂😂

Very easy going CU loan department.

Did you get a CC with Langley?

Langley is more likely to deny than SECU is IMHO.

Re: SECU to apply or wait?

ktl72455 — Thu, 09 Jul 2020 13:23:34 GMT

I got one with Langley , 6,800.00 on 7/8/2020 havent got my phone call yet :-)

Re: SECU to apply or wait?

Gmood1 — Thu, 09 Jul 2020 14:29:15 GMT

Yeah, if you got in with Langley. SECU should be a breeze!!😆

I've been denied by Langley at least twice I think.

Re: SECU to apply or wait?

ktl72455 — Thu, 09 Jul 2020 14:32:04 GMT

YOUR APPLICATION HAS BEEN RECEIVED.

Application Date: 7/9/2020
Application ID: 0000734929

If we require further information, we will contact you to review your application in order to finalize your loan request. Otherwise, you can expect to hear from us in about a week, by mail.

In the meantime, if you would like to contact us regarding this application, please feel free to call 800-879-7328 during regular business hours.

Thank you for your application. We look forward to the opportunity to serve you.

SECU Lending

Re: SECU to apply or wait?

Anonymous — Thu, 09 Jul 2020 14:35:06 GMT

@ktl72455 wrote:
YOUR APPLICATION HAS BEEN RECEIVED.
Application Date: 7/9/2020
Application ID: 0000734929
If we require further information, we will contact you to review your application in order to finalize your loan request. Otherwise, you can expect to hear from us in about a week, by mail.
In the meantime, if you would like to contact us regarding this application, please feel free to call 800-879-7328 during regular business hours.
Thank you for your application. We look forward to the opportunity to serve you.
SECU Lending

Pretty sure this is a denial

Try re-applying with a lower SL until it gets approved, it will use the same pull

Re: SECU to apply or wait?

CreditCuriosity — Thu, 09 Jul 2020 16:17:36 GMT

@ktl72455 wrote:
YOUR APPLICATION HAS BEEN RECEIVED.
Application Date: 7/9/2020
Application ID: 0000734929
If we require further information, we will contact you to review your application in order to finalize your loan request. Otherwise, you can expect to hear from us in about a week, by mail.
In the meantime, if you would like to contact us regarding this application, please feel free to call 800-879-7328 during regular business hours.
Thank you for your application. We look forward to the opportunity to serve you.
SECU Lending

Hmm mine was like what @Gmood1 stated instant and not above message. Can call them certainly or possibly what above posted stated although you think they would counter? What is your DTI currently with the card that posted the balance, etc?

Re: SECU to apply or wait?

M_Smart007 — Thu, 09 Jul 2020 17:16:54 GMT

@Gmood1 wrote:
Yeah, if you got in with Langley. SECU should be a breeze!!😆

I've been denied by Langley at least twice I think.

3rd time the charm?

Re: SECU to apply or wait?

Gmood1 — Thu, 09 Jul 2020 17:39:01 GMT

@M_Smart007

I'll close them out this time around. lol

@ktl72455

Lower your asking amount and try again.

Re: SECU to apply or wait?

CreditCuriosity — Thu, 09 Jul 2020 18:06:32 GMT

Shooting for this..

Re: SECU to apply or wait?

ktl72455 — Thu, 09 Jul 2020 18:34:42 GMT

I have tried all the way down to 3,500 same response. I can do 1000 just to get my foot in the door ? lol

Re: SECU to apply or wait?

ktl72455 — Thu, 09 Jul 2020 18:38:24 GMT

My langley card is in the mail :-)

Only thing i can figure is it has to be NFCU hitting.

Re: SECU to apply or wait?

ktl72455 — Fri, 10 Jul 2020 15:59:30 GMT

I am down to a secured card .. anything below 1000.00 on any but the secured shows a red ! ...

This is crazy lol!

My self lender reported as paid off ... score drop, 2 inquiries now, and nfcu reporting a balance. 46% of the limit.

Do I go the secured route to at least make the inquiry worth something?

From EQ805 to EQ753

Edited to add: I put 72,000.00 income ( lower than actual)

no housing cost

8/24/2018	CITI*approved
11/15/2018	MORT*rate checking
2/1/2019	HUGHES
2/1/2019	DISH
7/8/2020	langley**approved
7/9/2020	Secu

nfcu	17800.00	7208.73	40.5%
care credit	12000.00	$5,549.36	46.2%
discover	6000.00	0	0.0%
finger hutt	1350.00	0	0.0%
cr1	1750.00	33.05	1.9%
nfcu	18500.00	11,198.00	60.5%
citi	9700.00	88.24	0.9%
lowes	5450.00	0	0.0%
ppc	4896.00	0	0.0%
cap 1	3500.00	0	0.0%
orchard	400.00	0	0.0%
cr2	1450.00	19.92	1.4%
rk	8000.00	0	0.0%
Langley	6800.00		0.0%
amex	5400.00	0	0.0%
	$102,996.00	24097.3	23.4%

Im sure the 3 high UTL and the self lender falling off is what it biting me in the butt at the moment, but waiting wont help because the new accounts report and it drops even worse affecting age of accounts. Ughh lol!

Re: SECU to apply or wait?

BmoreBull — Fri, 10 Jul 2020 16:30:25 GMT

@ktl72455 wrote:
I am down to a secured card .. anything below 1000.00 on any but the secured shows a red ! ...
This is crazy lol!
My self lender reported as paid off ... score drop, 2 inquiries now, and nfcu reporting a balance. 46% of the limit.

Do I go the secured route to at least make the inquiry worth something?
From EQ805 to EQ753
Edited to add: I put 72,000.00 income ( lower than actual)
no housing cost
8/24/2018 CITI*approved
11/15/2018 MORT*rate checking
2/1/2019 HUGHES
2/1/2019 DISH
7/8/2020 langley**approved
7/9/2020 Secu

nfcu 17800.00 7208.73 40.5%
care credit 12000.00 $5,549.36 46.2%
discover 6000.00 0 0.0%
finger hutt 1350.00 0 0.0%
cr1 1750.00 33.05 1.9%
nfcu 18500.00
11,198.00
60.5%
citi 9700.00 88.24 0.9%
lowes 5450.00 0 0.0%
ppc 4896.00 0 0.0%
cap 1 3500.00 0 0.0%
orchard 400.00 0 0.0%
cr2 1450.00 19.92 1.4%
rk 8000.00 0 0.0%
Langley 6800.00 0.0%
amex 5400.00 0 0.0%
$102,996.00 24097.3 23.4%

Im sure the 3 high UTL and the self lender falling off is what it biting me in the butt at the moment, but waiting wont help because the new accounts report and it drops even worse affecting age of accounts. Ughh lol!

The high utilization on the three cards may definitely be a factor. But also the number of cards that you have showing a balance. Even though the balances on the other cards are small, I believe this may be looked at as negative. I believe someone made a post about having more than 4 cards reporting a balance and their scores being affected negatively by FICO.

Re: SECU to apply or wait?

CreditCuriosity — Fri, 10 Jul 2020 17:00:09 GMT

guessing the 24k balance on CC might of caught their attention? Decent amount of CC debt for income level despite no house payment, etc.. Only a guess as they arent account or inquiry sensitive as have 600k+ in credit and 20+ inquiries on EQ and 24+ new accounts in the last two years and instant approval, but only 1800 on a CC and income is in 6 figures. 800ish score

Re: SECU to apply or wait?

ktl72455 — Fri, 10 Jul 2020 18:50:11 GMT

I called in to see if the secured card eventually unsecures and front line didnt know and transfered me to LO and I was on hold for 15 min and gave up.

any insight on the secured card?

Re: SECU to apply or wait?

ktl72455 — Fri, 10 Jul 2020 19:34:15 GMT

Update:

I called again: secured card does not unsecure.

She went over my credit report and put in for the starter visa ( only one i hadnt tried) and it was sent to underwiter.

She said I had a great score so wasnt sure why none went but while we were talking , my UTL went from 63% to 43% and she didnt see any new changes but what ever it was, the application went.

Put 1000.00 so now wait and see.

Re: SECU to apply or wait?

ocheosa — Fri, 10 Jul 2020 20:37:16 GMT

NVM, didn't see the update before posting. GL on the recon !

Re: SECU to apply or wait?

Gmood1 — Fri, 10 Jul 2020 21:42:20 GMT

@ktl72455

I think @CreditCuriosity may have nailed the initial denial.

I didn't know you had $24k reporting on CCs. That alone is most likely what the automated system picked up on.

From what you told us earlier. You should have gotten this one easily.

Fingers crossed, the $24k doesn't scare the UW.

I personally would rather deal with the automated system.😆

Re: SECU to apply or wait?

ktl72455 — Sat, 11 Jul 2020 02:29:22 GMT

Wow!!! Boom!! Yeah!!! Never give up!

I called and they are now closed... ha.. another weekend!

MYFICO ROCKS!