topic Re: USAlliance Membership Sent to "Compliance" in Credit Card Applications

USAlliance Membership Sent to "Compliance"

calisig — Thu, 04 Aug 2022 17:23:45 GMT

I applied for the USAlliance Visa over a week ago, and my application is still in process.

Day 1 - Used the prequal tool, and it said I would be approved. No instant approval. DPs:

They pulled EX8=796 on that day.

New cc accounts: 2/6; 2/12; 4/24

Inquiries: 2/6, 4/12 (two were same day mortgage shopping, so could be counted as one), 7/24

Day 2 - Got an email the next day approving me for $15k - contingent upon POI & DL upload, and docusign agreement, which I did immediately.

Day 3 - Got an email from processor saying they had questions about my POI. I called and explained.

Days 4-5 weekend.

Day 6 - Called to check status, but was 'invited' to "join" the CU, which meant I was required to open a deposit account in order to complete that part of getting the card. I went through the joining / opening a deposit account process, but couldn't be approved to join for a reason they could not disclose to me. They said my file was being sent to the "Compliance Department," where it would be reviewed and they would get back to me.

Day 7 - Called to check on status of the Visa, and was informed that my POI had finally been forwarded to Underwriting on day 6. When I asked why it had not been forwarded on day 3, the processor responded that it had to be researched and confirmed first.

Day 8, no word on my 'membership' application to open a deposit account, nor on my Visa application.

I can't imagine why I wasn't able to immediately become a member and open a deposit account! This has never happened to me before. I did open an account at a local CU in the last month for a solar loan - which replaced my electric bill - I wonder if this could have anything to do with it? I wonder if it is possible that I could ultimately be denied membership, and thus the card, even though I was approved for their credit card ...

Any advice or ideas?

Re: USAlliance Membership Sent to "Compliance"

coldfusion — Thu, 04 Aug 2022 17:50:54 GMT

Any known issues with Chexsystems or a competitor like EWS? Have you opened any other deposit accounts over the last 12 months besides the one you mentioned having done last month?

p.s. their prequalifier isn't terribly solid.

Not specific to USAlliance, but there have been a few times since I've been a member where someone posted on the site that an underwriter had approved them for a credit card but they were denied membership to the credit union, which of course voided the CC approval.

Re: USAlliance Membership Sent to "Compliance"

calisig — Thu, 04 Aug 2022 18:53:11 GMT

No new deposit accounts within the last year, and the cu I got the loan from didn't require a deposit account. Never checked Chexsystems, but I've never had any events that would make me suspect any issues with Chexsystems or similar.

Re: USAlliance Membership Sent to "Compliance"

CreditCuriosity — Thu, 04 Aug 2022 21:03:41 GMT

Only issue that comes to my mind is chex's as well. Hopefully you can get it sorted out if it has been a year since applying for a deposit account and your chexs report is clear from any baddies I think you would be good. Chexs is the wild west though and has caused me many issues in the past with CU's even with a clean one and extremely high ficos etc.

Re: USAlliance Membership Sent to "Compliance"

D10001 — Fri, 05 Aug 2022 13:18:32 GMT

I didn't apply. I partially completed a membership application. An hour later, US Alliance called me. The representative told me they hard pull Experian for membership and are sensitive to "multiple inquiries within 30 days."

Multiple inquires for car loan or mortgage shopping should not reduce a credit score, but will appear on a credit report. It depends on whether the financial institution's AI or human will consider those inquiries as singular.