topic Re: DCU to the rescue in Personal Finance

DCU to the rescue

sourpuss29 — Wed, 13 May 2020 12:03:38 GMT

The ridiculousness I encountered two weeks ago with Alliant took a bit of wind out of my sails as it pertains to my rebuild. Up to the point where my loan application was denied, I had been in a good head space regarding the credit moves I had made and felt that I was headed in the right direction; but since I'm not one to wallow, I decided to shake off the anger/disappointment and do something to get myself back on track.

Enter DCU.

I had three CUs on my list that could potentially replace Alliant; and after doing a bit of research/reading reviews, I decided to join this one. Once my membership was approved, I downloaded the app; and much to my surprise, I had prequals for all of their financial products. (When I opted to go with this institution, I didn't realize that they pull Equifax; and since that's my highest score (720), I clearly made the right choice.)

My fingers started itching when I saw the Visa in my offers; but I didn't apply, because I'm only in the market for one more cc, and I REALLY want it to be the Freedom Unlimited. I was tempted to apply for a personal loan; however, after taking into consideration the feedback I received from @Gmood1 and @Anonymous regarding share secured loans, I went that route instead.

Patience is not one of my virtues, but I'm willing to take baby steps in order to not make the same mistake twice and possibly face another setback.

Re: DCU to the rescue

Gmood1 — Wed, 13 May 2020 12:33:35 GMT

The DCU visa is a SP when it's in your offers.

If you want it @sourpuss29 , get it.

It's a good card to have. No frills but they do offer 0 fee six month BTs right after Christmas every year.

I know what you mean about patience. I have almost none! Can you tell?😂😂😂😂

Re: DCU to the rescue

recoveringfrombk7 — Wed, 13 May 2020 15:48:46 GMT

I must have misunderstood where it needed to be located for a SP. Oh well, sorry Equifax let me go update my seedling

Re: DCU to the rescue

Credit_Master — Wed, 13 May 2020 16:12:25 GMT

@Gmood1 wrote:
The DCU visa is a SP when it's in your offers.
If you want it @sourpuss29 , get it.
It's a good card to have. No frills but they do offer 0 fee six month BTs right after Christmas every year.

I know what you mean about patience. I have almost none! Can you tell?😂😂😂😂

Where would one go to see what offers (if any) were available to them?

Thanks!

Re: DCU to the rescue

Gmood1 — Wed, 13 May 2020 17:25:40 GMT

@Credit_Master

If you're signing up for membership. They pop up during the onboarding.

If you're already a member. They show on your dashboard. On the right side "acct manager". Go to apply for loan. The pre-approvals state that "approved" The other offers will say apply.

Re: DCU to the rescue

Credit_Master — Wed, 13 May 2020 18:22:57 GMT

@Gmood1 wrote:
@Credit_Master
If you're signing up for membership. They pop up during the onboarding.

If you're already a member. They show on your dashboard. On the right side "acct manager". Go to apply for loan. The pre-approvals state that "approved" The other offers will say apply.

Thank you!

Re: DCU to the rescue

Anonymous — Wed, 13 May 2020 20:44:22 GMT

@sourpuss29 Super Congrats on your DCU membership approval!

Like you, patience is also not my strong suit. However, I just joined AOD

last month and they approved me for their 3% Visa and a personal loan.

They use EQ5 just like DCU, so I'm gonna let those tradelines season for

a minute before going after DCU membership and their loan products.

Something to think about: the economic impact of the corona virus reminds us

all of two things: 1) Cash is King, and 2) Access to cash is the next best thing.

Chase cards are terrific products. But if/when you app and are approved for

the Freedom Unlimited, the cash advance amount is about 20-30% of the limit.

So if you get a 10k CFU, you'll only be able to pull 2-3k off the card at a much

higher APR than your approval rate. But with a 10k DCU Visa, for example,

the full 10k limit will be available for a cash advance at the same APR.

Someone please correct me if I'm wrong, but it's something to think about.

Congrats again on your DCU membership approval. Thanks for sharing!

Re: DCU to the rescue

AllZero — Thu, 14 May 2020 00:57:48 GMT

Congratulations on your membership!

Re: DCU to the rescue

Revelate — Thu, 14 May 2020 03:24:39 GMT

How do DCU's BT's work?

Check or some other method?

Still thinking refinancing my debt 6 months at a time. 1.7% x 20000 is still like $340 (3.4 / 2 = 1.7 in this case if I pay it off right before the end period and do something else with the cash in the short term.

Actually six months even at around 1.5% totally safe suddenly that's 2.45% maybe a little less in pooling cash so 2.25% which is 450/year.

That doesn't suck at all and worth the hassle if I can do it.

Re: DCU to the rescue

sourpuss29 — Thu, 14 May 2020 11:25:07 GMT

@Gmood1

I am in awe of your siggy! I...could not imagine trying to manage all of those cards.

And while I appreciate the heads up regarding the type of pull DCU does for the Visa, that's not my concern. I didn't app for it because I have a hard rule pertaining to the number of cards I intend to have; therefore, the next one will be my third and final one.

@Anonymous

Thanx for the info regarding cash advances.

*side note*

In light of what I said in the OP about not having patience, your screen name is fitting and brought a smile to my face.