topic Re: DCU Personal Loan in Personal Finance

DCU Personal Loan

Cory88 — Wed, 23 Mar 2022 20:05:02 GMT

Does anyone know how long of a term you can do for DCU Personal Loan for $1000? I tried to call and the wait is very long. I was not looking at a Quick Loan just a regular Personal Loan

Re: DCU Personal Loan

Sandman771 — Wed, 23 Mar 2022 17:15:19 GMT

I believe it is 12 months or up to 12 months

Re: DCU Personal Loan

chiefone4u — Wed, 23 Mar 2022 18:31:25 GMT

@Cory88 wrote:
Does anyone know how long of a term you can do for DCU Personal Loan for $1000? I tried to call and the wait is very long.

The loan that almost always has a "accept offer" button on it is a 12 month loan and can be paid off early.

F.Y.I. for anyone interested, just because it says "accept offer" instead of "apply" doesn't mean they will issue the loan. With it showing accept offer there is no HP to try, but they have never asked me for proof of income and never sent a denial letter. When calling to inquire about status I'm told I don't qualify (even though I've been a member with direct deposit for two years).

Re: DCU Personal Loan

Brian_Earl_Spilner — Wed, 23 Mar 2022 19:29:10 GMT

@chiefone4u wrote:
@Cory88 wrote:
Does anyone know how long of a term you can do for DCU Personal Loan for $1000? I tried to call and the wait is very long.
The loan that almost always has a "accept offer" button on it is a 12 month loan and can be paid off early.

F.Y.I. for anyone interested, just because it says "accept offer" instead of "apply" doesn't mean they will issue the loan. With it showing accept offer there is no HP to try, but they have never asked me for proof of income and never sent a denial letter. When calling to inquire about status I'm told I don't qualify (even though I've been a member with direct deposit for two years).

I had to send POI both times I used the quick loan. They actually raised the amount after they saw the stubs

Re: DCU Personal Loan

Cory88 — Wed, 23 Mar 2022 20:02:11 GMT

@Brian_Earl_Spilner wrote:
@chiefone4u wrote:
@Cory88 wrote:
Does anyone know how long of a term you can do for DCU Personal Loan for $1000? I tried to call and the wait is very long.
The loan that almost always has a "accept offer" button on it is a 12 month loan and can be paid off early.

F.Y.I. for anyone interested, just because it says "accept offer" instead of "apply" doesn't mean they will issue the loan. With it showing accept offer there is no HP to try, but they have never asked me for proof of income and never sent a denial letter. When calling to inquire about status I'm told I don't qualify (even though I've been a member with direct deposit for two years).
I had to send POI both times I used the quick loan. They actually raised the amount after they saw the stubs

What was your debit at that time? What was the credit score that was showing? I wounder if that had something to so with it.

Re: DCU Personal Loan

Cory88 — Wed, 23 Mar 2022 20:04:04 GMT

@chiefone4u wrote:
@Cory88 wrote:
Does anyone know how long of a term you can do for DCU Personal Loan for $1000? I tried to call and the wait is very long.
The loan that almost always has a "accept offer" button on it is a 12 month loan and can be paid off early.

F.Y.I. for anyone interested, just because it says "accept offer" instead of "apply" doesn't mean they will issue the loan. With it showing accept offer there is no HP to try, but they have never asked me for proof of income and never sent a denial letter. When calling to inquire about status I'm told I don't qualify (even though I've been a member with direct deposit for two years).

I know you can only have one open at a time and no more then three in a 180 day period.

Re: DCU Personal Loan

chiefone4u — Wed, 23 Mar 2022 20:20:16 GMT

@Cory88 wrote:
@chiefone4u wrote:
@Cory88 wrote:
Does anyone know how long of a term you can do for DCU Personal Loan for $1000? I tried to call and the wait is very long.
The loan that almost always has a "accept offer" button on it is a 12 month loan and can be paid off early.

F.Y.I. for anyone interested, just because it says "accept offer" instead of "apply" doesn't mean they will issue the loan. With it showing accept offer there is no HP to try, but they have never asked me for proof of income and never sent a denial letter. When calling to inquire about status I'm told I don't qualify (even though I've been a member with direct deposit for two years).
I know you can only have one open at a time and no more then three in a 180 day period.

I have tried 3 times over the past two years, all three were never funded. Best DTI and utilization occurred at the same time, 18% utilization with a DTI of 36%. My worst attempt was 30% utilization and 51% DTI. Scores were 660 to 715.

Never asked for more than the "accept offer" of $1,000... fortunately, none of my attempts were needed funds just an attempt to expand on a relationship with DCU.

Re: DCU Personal Loan

Cory88 — Wed, 23 Mar 2022 20:49:58 GMT

Maybe when I did a quick loan it was for $300 and almost no debit and 753 FICO 3. I was looking for the personal loan that had a longer term.

Re: DCU Personal Loan

chiefone4u — Wed, 23 Mar 2022 23:01:50 GMT

@Cory88 wrote:
Maybe when I did a quick loan it was for $300 and almost no debit and 753 FICO 3. I was looking for the personal loan that had a longer term.

They do have a different personal loan that you can take 60 months to pay off... but the length of the loan I believe is based on the amount you borrow.

As I've never completed that loan, I can't confirm how much you'd need to borrow to get a term beyond 12 month's.

Re: DCU Personal Loan

OmarGB9 — Sat, 26 Mar 2022 00:25:43 GMT

@chiefone4u wrote:
@Cory88 wrote:
@chiefone4u wrote:
@Cory88 wrote:
Does anyone know how long of a term you can do for DCU Personal Loan for $1000? I tried to call and the wait is very long.
The loan that almost always has a "accept offer" button on it is a 12 month loan and can be paid off early.

F.Y.I. for anyone interested, just because it says "accept offer" instead of "apply" doesn't mean they will issue the loan. With it showing accept offer there is no HP to try, but they have never asked me for proof of income and never sent a denial letter. When calling to inquire about status I'm told I don't qualify (even though I've been a member with direct deposit for two years).
I know you can only have one open at a time and no more then three in a 180 day period.
I have tried 3 times over the past two years, all three were never funded. Best DTI and utilization occurred at the same time, 18% utilization with a DTI of 36%. My worst attempt was 30% utilization and 51% DTI. Scores were 660 to 715.

Never asked for more than the "accept offer" of $1,000... fortunately, none of my attempts were needed funds just an attempt to expand on a relationship with DCU.

That's strange. I've taken out 2 "quick" loans - one for $1k, one for $2k. Was asked for POI both times I believe. But approved for both.

Re: DCU Personal Loan

Brian_Earl_Spilner — Sat, 26 Mar 2022 00:54:39 GMT

@Cory88 wrote:
@Brian_Earl_Spilner wrote:
@chiefone4u wrote:
@Cory88 wrote:
Does anyone know how long of a term you can do for DCU Personal Loan for $1000? I tried to call and the wait is very long.
The loan that almost always has a "accept offer" button on it is a 12 month loan and can be paid off early.

F.Y.I. for anyone interested, just because it says "accept offer" instead of "apply" doesn't mean they will issue the loan. With it showing accept offer there is no HP to try, but they have never asked me for proof of income and never sent a denial letter. When calling to inquire about status I'm told I don't qualify (even though I've been a member with direct deposit for two years).
I had to send POI both times I used the quick loan. They actually raised the amount after they saw the stubs
What was your debit at that time? What was the credit score that was showing? I wounder if that had something to so with it.

The last one I did my 8 was around 680. Don't remember what mortgage was. Utilization was low double digits. Income was same at 70k

Re: DCU Personal Loan

AverageJoesCredit — Sat, 26 Mar 2022 02:27:43 GMT

Good info in this thread. Much appreciated. Was going to try a quick loan to build some history but seeing what it takes to get one plus the fact the system doest take my app, I think I'll continue looking elsewhere for other CU for my needs.

Re: DCU Personal Loan

Anonymous — Wed, 06 Apr 2022 06:08:21 GMT

@AverageJoesCredit I actually came here to see if you had been approved for any DCU credit products. I haven't been pre-approved for anything ever, and I recently tried to apply and it says "the system is unable to take your application". Could it be because of the location? I had them tell me they don't ship checks to PR when I inquired about the free checks they advertise. But then I was able to order them myself from the DCU site, for a fee of course! It seems like they're not exactly sure how to handle it.