topic Re: Need info on DCU personal loans in Personal Finance

Need info on DCU personal loans

Anonymous — Fri, 19 Jan 2018 16:24:49 GMT

I hope this is the right forum for posting this. I may apply for a DCU personal loan. Would like to hear from people who have applied and their data points. I currently have a $10,000 credit card with them, PIF every month. Fico scores are high 600 range. 19% utilization . I am sitting on the fence.

Re: Need info on DCU personal loans

Anonymous — Fri, 19 Jan 2018 21:01:06 GMT

@Anonymous wrote:
I hope this is the right forum for posting this. I may apply for a DCU personal loan. Would like to hear from people who have applied and their data points. I currently have a $10,000 credit card with them, PIF every month. Fico scores are high 600 range. 19% utilization . I am sitting on the fence.

DCU uses FICO 5 EQ Mortgage Scores, do you know what your score is on that version? Anything below 680, you won't get a personal loan with them.

They will tell you to take a cash advance on your DCU credit card...lol....no kidding either.

Re: Need info on DCU personal loans

Anonymous — Fri, 19 Jan 2018 21:38:21 GMT

I just looked I am 748 on EQ, 670 on TU and 680 on Ex. I think they pull EQ. I have TU frozen. Not sure if its worth the hard pull. If the interest isn't below 12.5 % I might as well just use the credit card.

Re: Need info on DCU personal loans

DaveInAZ — Fri, 19 Jan 2018 23:25:52 GMT

@Anonymous wrote:
I just looked I am 748 on EQ, 670 on TU and 680 on Ex. I think they pull EQ. I have TU frozen. Not sure if its worth the hard pull. If the interest isn't below 12.5 % I might as well just use the credit card.

What kind of scores are those? Fico 08? Kinda hard to believe you are 748 on EQ and only 670 on TU.

Since you have a DCU CC I assume you are already a member of DCU? They give you your score monthly, EQ Fico 05, it shows up as a message in your Inbox, in Account Manager. My highest Fico 08 score is 713 on TU, but my DCU EQ Fico5 score is only 692. Also if you click "Loan Suite" they will show any pre-approved credit products. They're showing me pre-approved for a Personal Loan, but I don't need/want a loan. If the offered a Line of Credit I'd bite, no interest until I actually used it. Also I notice ad banners on their site that they're offering 0% interest on CC balance transfers until July. Not very long, but 6-7 months 0% might be better than app'ing for personal loan.

Re: Need info on DCU personal loans

Anonymous — Sat, 20 Jan 2018 00:42:55 GMT

My fico score on DCU end of December was 725. I looked today at Myfico and my fico5 mortgage is 748 for EQ. I have a big score difference because Transunion is not taking off badies I disputed. I don't have any pre-approved offers in the DCU loan suite. It says " apply"