topic Re: Shot down for Patelco CU in Credit Card Applications

Shot down for Patelco CU

CreditMagic7 — Sat, 01 May 2021 02:11:07 GMT

I sorted suspected it was merely a chance but applied to them after being membership approved and opened both a Money Market Account plus Regular Savings. Good part is that it seemed enough for at least a small approval and offered some hope since they they pull experien which is fairly good so far.

Nothing doing. and yet another wasted INQ for nothing, Heck i would been satisfied with a $1000 and work up from there over the course of time.

Credit Unions seem to hate me except PenFed but that's my fate currently and i have to accept it.

Over 10 years perfect on time payments and not once late ever or otherwise with ALL my lenders.

Months on end from 2020 with 1% utilization as well.

Re: Shot down for Patelco CU

AllZero — Sat, 01 May 2021 01:53:55 GMT

That is unfortunate on your denial.

Re: Shot down for Patelco CU

CreditMagic7 — Sat, 01 May 2021 01:59:41 GMT

Thanks @AllZero

Its disgusting to say the least but their risk is 0.

I'm done with wasting time and ruining my INQ's with CU's aside from Navy, Alliant and PenFed all whom give you a chance.

Re: Shot down for Patelco CU

AllZero — Sat, 01 May 2021 02:08:17 GMT

@CreditMagic7 wrote:
Thanks @AllZero

Its disgusting to say the least but their risk is 0.
I'm done with wasting time and ruining my INQ's with CU's aside from Navy, Alliant and PenFed all whom give you a chance.

The bigger CUs may be in a position to be a little looser. The other CUs, maybe not so much.

One the plus side, Patelco appears to have decent APY on their accounts.

Re: Shot down for Patelco CU

FinStar — Sat, 01 May 2021 02:20:25 GMT

@CreditMagic7 wrote:
I sorted suspected it was merely a chance but applied to them after being membership approved and opened both a Money Market Account plus Regular Savings. Good part is that it seemed enough for at least a small approval and offered some hope since they they pull experien which is fairly good so far.

Nothing doing. and yet another wasted INQ for nothing, Heck i would been satisfied with a $1000 and work up from there over the course of time.

Credit Unions seem to hate me excect PenFed but that's my fate currently and i have to accept it.

Over 10 years perfect on time payments and not once late ever or otherwise with ALL my lenders.

Months on end from 2020 with 1% utilization as well.

While it's great that you're a new member with such a great CU, Credit Unions (or banks for that matter) do not "hate" you (or anyone really). You've achieved some decent approvals (and CLIs) since the BK7 was discharged, and as you're aware, that particular factor along with the number of new accounts + inquiries in the past ~15 months, is bound to make some potential lenders a bit nervous, especially in today's lending environment.

It's obviously your decision on which approach drives your rebuilding strategy, but in the short horizon, you're going to experience a lot more frustration if the denials keep piling up. I would definitely nurture the CU banking relationships as you've been doing, but hold off on CC products for a while.

Re: Shot down for Patelco CU

AverageJoesCredit — Sat, 01 May 2021 02:26:25 GMT

@CreditMagic7 wrote:
I sorted suspected it was merely a chance but applied to them after being membership approved and opened both a Money Market Account plus Regular Savings. Good part is that it seemed enough for at least a small approval and offered some hope since they they pull experien which is fairly good so far.

Nothing doing. and yet another wasted INQ for nothing, Heck i would been satisfied with a $1000 and work up from there over the course of time.

Credit Unions seem to hate me excect PenFed but that's my fate currently and i have to accept it.

Over 10 years perfect on time payments and not once late ever or otherwise with ALL my lenders.

Months on end from 2020 with 1% utilization as well.

Was going to save last post for if Navy approved my recent cli request but chances of that are about the same as me winning lottery lol.

CM7, i feel ya on wasted hps for nothing , im the king of those. Dont feel too bad at being rejected. This is only my opinion and experience, but i feel credit scores are meaningless. Most every application i ever do and get rejected for sights income and debt so those are more important to most lenders. A perfect payment history is nice and all, but once you throw in a bk or a late or a derog that gets tossed out the window imho.

Ive been rejected for a couple CU recently, Affinity says im too poor and too much debt lol. Joined AFFCU but they couldnt pull Eq for a cc app. Approved membership but what good will it do if they cant access my Eq. Stupid as always threw another app at PF to see if my Eq was working . ..hp ! Yes....denied again . I just cant win with them lol. 4 + years 2 pl, perfect paymebt history blah blah they dont care. All they see is low income and debt. I get it understand it but dont agree with their assessment of my profile.

Just have to realize i need to give up the game until i can get a handle on my debt , inqs, etc. Funny thing is my score is going up as my debt goes down little by little. Finally hit 757 Tu and Ex as of today. Lenders dont care.

I guess my big thing for you , and me too, is give our business to those lenders who seem to " treat" our profiles with what we consider good tlc. Lets not stress those who dont. Time is too short to stress on these " failures" lol . Stay well buddy, i know you will come out stronger on your comeback journey. I just hope to make it back to the trail. ✌

Re: Shot down for Patelco CU

Curious_George2 — Sat, 01 May 2021 03:28:24 GMT

@FinStar wrote:
@CreditMagic7 wrote:
I sorted suspected it was merely a chance but applied to them after being membership approved and opened both a Money Market Account plus Regular Savings. Good part is that it seemed enough for at least a small approval and offered some hope since they they pull experien which is fairly good so far.

Nothing doing. and yet another wasted INQ for nothing, Heck i would been satisfied with a $1000 and work up from there over the course of time.

Credit Unions seem to hate me excect PenFed but that's my fate currently and i have to accept it.

Over 10 years perfect on time payments and not once late ever or otherwise with ALL my lenders.

Months on end from 2020 with 1% utilization as well.

While it's great that you're a new member with such a great CU, Credit Unions (or banks for that matter) do not "hate" you (or anyone really). You've achieved some decent approvals (and CLIs) since the BK7 was discharged, and as you're aware, that particular factor along with the number of new accounts + inquiries in the past ~15 months, is bound to make some potential lenders a bit nervous, especially in today's lending environment.

It's obviously your decision on which approach drives your rebuilding strategy, but in the short horizon, you're going to experience a lot more frustration if the denials keep piling up. I would definitely nurture the CU banking relationships as you've been doing, but hold off on CC products for a while.

Sincere question: what do you, or others, like about this CU?

Re: Shot down for Patelco CU

AllZero — Sat, 01 May 2021 04:58:41 GMT

@Curious_George2 wrote:
Sincere question: what do you, or others, like about this CU?

The money market APY looks decent. 2% APY up to $2000. They offer blended rates too.

Re: Shot down for Patelco CU

CreditMagic7 — Sat, 01 May 2021 13:51:24 GMT

@AllZero wrote:
@Curious_George2 wrote:
Sincere question: what do you, or others, like about this CU?
The money market APY looks decent. 2% APY up to $2000. They offer blended rates too.

Is one of my interests when i signed on to Patelco and their online layout is very neat and navigation friendly.

The card app was for their Pure Mastercard.

@AverageJoesCredit- I certainly relate to your own trials and strenuous efforts that come to nought and leave you with that gnawing despair of having valuable INQ's go up in smoke. Yes they may be unscorable in 12 months but they still lay on our reports 2 years and nobody can tell me they can't count against a manual review later. And geez afterall, our lifespan isn't exactly 100 or 200 years but machines with their entries (data) can and do live on to the next set of centuries. Living breathing people do not.

Wouldn't it be nice to take the sting out of things that a HP denial could simply be transferred over to the SP column. After all the denying Lender will still have record of reason for it anyway. It's the FICO game of chance points system that really lays down the hammer and can set a profile back years on INQ's alone. Because frankly most U/W's for the most part nit pic and look more at negatives than positives.

At any rate, so much for another encouraging try that didn't meet up to standard whatever that is.

Re: Shot down for Patelco CU

M_Smart007 — Sat, 01 May 2021 15:56:15 GMT

@CreditMagic7, Sorry for your denial

Re: Shot down for Patelco CU

CreditMagic7 — Sat, 01 May 2021 16:18:12 GMT

@M_Smart007 wrote:
@CreditMagic7, Sorry for your denial

Thank You @M_Smart007 It was on the heels of your own good fortunes recently you posted and shared about that i selected them for a try and honestly i still don't regret the effort. They pull EX and that was a far better option currently than TU which is been hammered and piled up on by everyone else.

I'm gonna just stay tight with those who feel me worthy and not afraid to give me a chance and maybe look at them again sometime farther in the future. It was still worth a shot. Thanks!

Re: Shot down for Patelco CU

M_Smart007 — Sat, 01 May 2021 16:56:40 GMT

@CreditMagic7 wrote:
@M_Smart007 wrote:
@CreditMagic7, Sorry for your denial
Thank You @M_Smart007 It was on the heels of your own good fortunes recently you posted and shared about that i selected them for a try and honestly i still don't regret the effort. They pull EX and that was a far better option currently than TU which is been hammered and piled up on by everyone else.

I'm gonna just stay tight with those who feel me worthy and not afraid to give me a chance and maybe look at them again sometime farther in the future. It was still worth a shot. Thanks!

At least you tried.

I feel the same about DCU .. will take another shot in 6 months!

Re: Shot down for Patelco CU

dragontears — Sat, 01 May 2021 17:03:48 GMT

Sorry for your denial.

My experience with them was after having the money market account for ~6 month I got a car loan through them. About 6 months after that they started sending me preapprovals for cards. I ended up getting their low interest rate card and they send BT offers on it once or twice a year.

Re: Shot down for Patelco CU

CreditMagic7 — Sat, 01 May 2021 17:25:27 GMT

@dragontears wrote:
Sorry for your denial.
My experience with them was after having the money market account for ~6 month I got a car loan through them. About 6 months after that they started sending me preapprovals for cards. I ended up getting their low interest rate card and they send BT offers on it once or twice a year.

Thanks @dragontears for that note of confidence and your own good experience.

That's what i'm going to have to do which is just eat their first time app negativity and focus on building the deposits end of things and see if that undertaking bares any fruit later or not. As i mentioned in another different post i do really like the online customer friendly layout and my first contact directly with their phone staff was very uplifting and helpful in spite it being brief. It sounded really busy in the background.

Re: Shot down for Patelco CU

spiritcraft1 — Sat, 01 May 2021 17:56:39 GMT

Sorry for your denial. That surely blows.

Ever thought of joining the PA Parks and Recreation Society (or whatever they call it)? PSECU

Re: Shot down for Patelco CU

CreditMagic7 — Sat, 01 May 2021 18:33:28 GMT

@spiritcraft1 wrote:
Sorry for your denial. That surely blows.
Ever thought of joining the PA Parks and Recreation Society (or whatever they call it)? PSECU

Im already a member at PSECU. That also went down in flames.

Fact on that one is i filled out a credit app but never pressed SUBMIT and got hit with a INQ anyway. I called them to retract that app since i didnt genuinely send it via SUBMIT button, but their system automatically submitted it anyway. Received a letter a few days letter with the bad news.

Another poster in the forums experienced that EXACT same anomaly where they also got a instant HP simply while still filling in an application.

Re: Shot down for Patelco CU

spiritcraft1 — Sat, 01 May 2021 18:12:06 GMT

@CreditMagic7 wrote:
@spiritcraft1 wrote:
Sorry for your denial. That surely blows.
Ever thought of joining the PA Parks and Recreation Society (or whatever they call it)? PSECU
Im already a member at PSECU. That also went down in flames.

Fact on that one is i filled out a credit app but never pressed SUBMIT and got hit with a INQ anyway. I called them to retract that app since i didnt genuinely send it via SUBMIT button, but their system automatically submitted it anyway. Anyway received a letter a few days letter with the bad news.

Another poster in the forums experienced that EXACT same anomaly where they also got a instant HP simply while still filling in an application.

Ahh, I remember that. I posted that about my DW's approval. They hit her TU before I could unlock EX... way before I hit submit..

Re: Shot down for Patelco CU

CreditMagic7 — Sat, 01 May 2021 18:17:09 GMT

@spiritcraft1 wrote:
@CreditMagic7 wrote:
@spiritcraft1 wrote:
Sorry for your denial. That surely blows.
Ever thought of joining the PA Parks and Recreation Society (or whatever they call it)? PSECU
Im already a member at PSECU. That also went down in flames.

Fact on that one is i filled out a credit app but never pressed SUBMIT and got hit with a INQ anyway. I called them to retract that app since i didnt genuinely send it via SUBMIT button, but their system automatically submitted it anyway. Anyway received a letter a few days letter with the bad news.

Another poster in the forums experienced that EXACT same anomaly where they also got a instant HP simply while still filling in an application.

Ahh, I remember that. I posted that about my DW's approval. They hit her TU before I could unlock EX... way before I hit submit..

Yep. Happened to me alright as well. Long before you even get to the SUBMIT BUTTON which i wasn't ready to do anyway since i was still in the process of funding deposit accounts which had yet to post.

Re: Shot down for Patelco CU

designated_knitter — Sat, 01 May 2021 20:58:58 GMT

@CreditMagic7 Personal question and you obviously don't have to answer but how much credit have you scored since your discharge?

Sorry about your denial! Hang in there.

Re: Shot down for Patelco CU

CreditMagic7 — Sat, 01 May 2021 21:19:45 GMT

@designated_knitter wrote:
@CreditMagic7 Personal question and you obviously don't have to answer but how much credit have you scored since your discharge?

Sorry about your denial! Hang in there.

I already know what your driving at. And until i feel comfortable plastering that all over a wide open forum to be picked over, please ask me that in another year and will be more than happy to obliged. I think that i have had all the negativity that i can stomach for this recent go round. Not referring to you per say but when your down taking it on the chin, that's when the negative gremlins like to bounce out of the shadows and make excuses to this and that, furthering the salt in the wounds.

Hope you understand. If it's any consolation and of that importance my approvals are on record and posted easily found via forum SEARCH BOX if you care to look. Thanks