topic Re: DCU %#//!^ in Credit Card Applications

DCU %#//!^

Anonymous — Fri, 15 May 2015 15:48:18 GMT

Ok I know DCU has some excellent rates and a lot of people have had excellent experiences with them. That being said, I was just denied a second time with 700+ scores across the board, on the basis of too many new accounts. There are a lot of new accounts, but with util under 8%, I'd expect them to want to compete for my business, not shoo me away from their door. A pox on them, I say! Just kidding, but I'm done with them. Not wasting any more HPs and if you have a bunch of relatively new accounts you might want to consider yourself made aware.

Re: DCU %#//!^

Anonymous — Fri, 15 May 2015 16:16:21 GMT

not sure why you're upset. lenders consider more than one aspect of your reports. Score and utilization are just a couple. "lot of new accounts" is also another factor to be considered. they are, at the end of the day, lending, and so they must access the risk how they see fit. just relax for 6 months and try again

Re: DCU %#//!^

tonyjones — Fri, 15 May 2015 16:25:23 GMT

@Anonymous wrote:
Ok I know DCU has some excellent rates and a lot of people have had excellent experiences with them. That being said, I was just denied a second time with 700+ scores across the board, on the basis of too many new accounts. There are a lot of new accounts, but with util under 8%, I'd expect them to want to compete for my business, not shoo me away from their door. A pox on them, I say! Just kidding, but I'm done with them. Not wasting any more HPs and if you have a bunch of relatively new accounts you might want to consider yourself made aware.

That's odd they denied you, it is interesting in the credit game how they approve some and not others.

My score was 676 and I got approved earlier this week. I have 4 new accounts also (within the last month) and they still approved me for 11% APR, SL: $7500.

I'm wondering if they are looking at other things........

Re: DCU %#//!^

Anomalous — Fri, 15 May 2015 16:47:52 GMT

@Anonymous wrote:
Ok I know DCU has some excellent rates and a lot of people have had excellent experiences with them. That being said, I was just denied a second time with 700+ scores across the board, on the basis of too many new accounts. There are a lot of new accounts, but with util under 8%, I'd expect them to want to compete for my business, not shoo me away from their door. A pox on them, I say! Just kidding, but I'm done with them. Not wasting any more HPs and if you have a bunch of relatively new accounts you might want to consider yourself made aware.

Ha! You say that as I'm watching Salem on the DVR

Sorry about the denial.

Re: DCU %#//!^

Anonymous — Fri, 15 May 2015 18:15:14 GMT

Sorry to hear about the DCU denial. I'm also interested in apping with them by Sep/Oct. Would you mind sharing how many new accounts and how old are these accounts? I appreciate your help!

Re: DCU %#//!^

tonyjones — Fri, 15 May 2015 18:51:39 GMT

@Anonymous wrote:
Sorry to hear about the DCU denial. I'm also interested in apping with them by Sep/Oct. Would you mind sharing how many new accounts and how old are these accounts? I appreciate your help!

Well for me, I had four new accounts (one month old), and six accounts (older than two years).

I was really surprised they approved me, I had six derogs still reporting too!

Re: DCU %#//!^

Anonymous — Fri, 15 May 2015 19:03:52 GMT

I don't think "upset" is an accurate description of my feelings. Disappointed would be closer to the mark, I think.

As to new accounts, I've got a bunch. Something like 15 over the past year. No derogs, no lates, and util<8%. Bottom line for me is that I can't be bothered with wasting more HP's on them.

I'm not complaining. I'm aware they have many happy customers, which is entirely why I apped. I just thought others with a lot of new accounts might want to take my experience into consideration before apping them. Or not. YMMV.

Re: DCU %#//!^

tonyjones — Fri, 15 May 2015 19:56:49 GMT

@Anonymous wrote:
I don't think "upset" is an accurate description of my feelings. Disappointed would be closer to the mark, I think.

As to new accounts, I've got a bunch. Something like 15 over the past year. No derogs, no lates, and util<8%. Bottom line for me is that I can't be bothered with wasting more HP's on them.

I'm not complaining. I'm aware they have many happy customers, which is entirely why I apped. I just thought others with a lot of new accounts might want to take my experience into consideration before apping them. Or not. YMMV.

I have a feeling that the 15 new accounts over the past year (within one year) scared them...

Re: DCU %#//!^

stagefoursurvivor — Fri, 15 May 2015 23:32:34 GMT

ALL the lenders have varying widths of pie sections on their approval/denial "Wheel of Decisioning". After being a member for a year, getting denied twice for a car refi & a CC despite their score of 680, then 701 and clean CRs, I threw in the towel and closed my account. Too many new accounts, it was ONLY about 12 or 14

Worked out pretty well anyway, traded that car, got 2 new car loans at 1.99 & 2.24% AND CCs in the 5 figure range from other CUs. Their CCs offer nothing special

Re: DCU %#//!^

taxi818 — Fri, 15 May 2015 23:00:27 GMT

@tonyjones wrote:
@Anonymous wrote:
Ok I know DCU has some excellent rates and a lot of people have had excellent experiences with them. That being said, I was just denied a second time with 700+ scores across the board, on the basis of too many new accounts. There are a lot of new accounts, but with util under 8%, I'd expect them to want to compete for my business, not shoo me away from their door. A pox on them, I say! Just kidding, but I'm done with them. Not wasting any more HPs and if you have a bunch of relatively new accounts you might want to consider yourself made aware.
That's odd they denied you, it is interesting in the credit game how they approve some and not others.

My score was 676 and I got approved earlier this week. I have 4 new accounts also (within the last month) and they still approved me for 11% APR, SL: $7500.

I'm wondering if they are looking at other things........

4 new accounts is not a lot. we dont know how many new accounts op has. so you can't compare. hehehe. im sure in the las tyear. i have maybe 10. in last 2 years. maybe 21.

so it depends on the criteria that they are looking at. score is just 1 factor in the decision making. even with your lower score your risk profile may look better. and accounts within the last month. are more than likely not even on your credit report. the average time to report is six to eight weeks.

Re: DCU %#//!^

CreditDunce — Sat, 16 May 2015 02:32:10 GMT

Last month, Designated_Knitter posted what a CSR said the requirements for a CC were:

http://ficoforums.myfico.com/t5/Credit-Card-Applications/Wondering-if-you-qualify-for-a-DCU-Unsecured-credit-card/m-p/3925150/highlight/true#M51300

Also, when I joined DCU last year, they said I had a pre-qual offer for their credit card. At the time, I had 5 new accounts within 6 months. Then the quarter after that (Jan), I received a pre-approval notice when I log in under "Accept Loan Preapproval". I also received the same pre-approval this quarter (good April 1 through June 30th). At the time of the last pre-approval, I think I had 13 new TL's in the last year (8 in the last 6 months, most of which were from Jan/Dec). Although, that is counting a total of 4 Amex's with a 21 year MSD.

I do not know if the pre-approval's are any good. The wording in the pre-approval says "Accept and Verify" for the DCU Platinum Visa with a limit "up to" 10k. No firm interest rate is shown. I have no intention of applying for a DCU CC, however.

Re: DCU %#//!^

Anonymous — Sat, 16 May 2015 02:45:17 GMT

NYSuperdoodle wrote:
I don't think "upset" is an accurate description of my feelings. Disappointed would be closer to the mark, I think.

As to new accounts, I've got a bunch. Something like 15 over the past year. No derogs, no lates, and util<8%. Bottom line for me is that I can't be bothered with wasting more HP's on them.

I'm not complaining. I'm aware they have many happy customers, which is entirely why I apped. I just thought others with a lot of new accounts might want to take my experience into consideration before apping them. Or not. YMMV.

I totally understand. I thought about it after I had posted that "upset" probably wasnt the tone in your post. thanks for sharing with all of us so we don't misstep in the future.

Re: DCU %#//!^

Cali_Credit — Sat, 16 May 2015 07:01:07 GMT

I've had DCU for a few years and I've tried to get an increase from 10k and I've been denied twice even tho I have DD with them and a auto loan. I gave up and canceled my checking with them. I still have my auto loan but there credit limits are very limited. I've also had 2-3% UTL but they claim I have to much exposed credit lol! There not for me.

Re: DCU %#//!^

tonyjones — Sat, 16 May 2015 14:00:58 GMT

@Cali_Credit wrote:
I've had DCU for a few years and I've tried to get an increase from 10k and I've been denied twice even tho I have DD with them and a auto loan. I gave up and canceled my checking with them. I still have my auto loan but there credit limits are very limited. I've also had 2-3% UTL but they claim I have to much exposed credit lol! There not for me.

damn....... I'm hoping after a year of usage they can increase my CC from $10K to $20K

Re: DCU %#//!^

Anonymous — Sat, 16 May 2015 23:18:04 GMT

Well I was just alerted by my credit monitoring that they pulled multiple CRA reports (all over 700) before denying me. Obviously all of my accounts are reported to all CRA's, so the decision to not give me credit was made after one pull. The other hard pulls seem completely unnecessary. I'm so done with DCU.