topic Re: DCU - Pre-approved? in Credit Cards

DCU - Pre-approved?

MyLoFICO — Sat, 15 Apr 2017 19:42:04 GMT

When I first joined DCU they showed my score as they calculate it as 610. I apped their Visa back then and got denied. That was back in April 2016. My FICO 8 for EQF is 680 now. On a hunch I logged in and went to their loan application page and they list all sorts of loans. See below. This is the first time I have seen this. I have been in the garden since August and as of 5-1-2016 I only have 1 inquiry between all 3 CRA less than 12 months old. My question is, do these look like guarantees? Like pre-approved? If so, I won't lie, I need this badly right now. I can refi my truck and get a better rate and maybe get a BT card for some of my debt. The rates are static but if I change the loan repayment duration (months to pay back) the rates change.

Re: DCU - Pre-approved?

MyLoFICO — Sat, 15 Apr 2017 19:44:38 GMT

Disregard. I clicked on one of the Details & Disclosures and it shows a rate spread based on credit worthiness and not a static rate. I will let my score come up a bit more before I get into anything like this.

Re: DCU - Pre-approved?

Anonymous — Sat, 15 Apr 2017 20:17:18 GMT

@MyLoFICO wrote:
When I first joined DCU they showed my score as they calculate it as 610. I apped their Visa back then and got denied. That was back in April 2016. My FICO 8 for EQF is 680 now. On a hunch I logged in and went to their loan application page and they list all sorts of loans. See below. This is the first time I have seen this. I have been in the garden since August and as of 5-1-2016 I only have 1 inquiry between all 3 CRA less than 12 months old. My question is, do these look like guarantees? Like pre-approved? If so, I won't lie, I need this badly right now. I can refi my truck and get a better rate and maybe get a BT card for some of my debt. The rates are static but if I change the loan repayment duration (months to pay back) the rates change.

Yes disregard is right! If you ever become pre-approved the green box where it says apply will say preapproved.

Re: DCU - Pre-approved?

MyLoFICO — Sat, 15 Apr 2017 20:18:54 GMT

@Anonymous wrote:
@MyLoFICO wrote:
When I first joined DCU they showed my score as they calculate it as 610. I apped their Visa back then and got denied. That was back in April 2016. My FICO 8 for EQF is 680 now. On a hunch I logged in and went to their loan application page and they list all sorts of loans. See below. This is the first time I have seen this. I have been in the garden since August and as of 5-1-2016 I only have 1 inquiry between all 3 CRA less than 12 months old. My question is, do these look like guarantees? Like pre-approved? If so, I won't lie, I need this badly right now. I can refi my truck and get a better rate and maybe get a BT card for some of my debt. The rates are static but if I change the loan repayment duration (months to pay back) the rates change.

Yes disregard is right! If you ever become pre-approved the green box where it says apply will say preapproved.

That is good to know. I think I will end up at PenFed to be honest but these caught me off guard so I thought I would ask.

Re: DCU - Pre-approved?

Anonymous — Sat, 15 Apr 2017 20:33:28 GMT

@MyLoFICO wrote:
@Anonymous wrote:
@MyLoFICO wrote:
When I first joined DCU they showed my score as they calculate it as 610. I apped their Visa back then and got denied. That was back in April 2016. My FICO 8 for EQF is 680 now. On a hunch I logged in and went to their loan application page and they list all sorts of loans. See below. This is the first time I have seen this. I have been in the garden since August and as of 5-1-2016 I only have 1 inquiry between all 3 CRA less than 12 months old. My question is, do these look like guarantees? Like pre-approved? If so, I won't lie, I need this badly right now. I can refi my truck and get a better rate and maybe get a BT card for some of my debt. The rates are static but if I change the loan repayment duration (months to pay back) the rates change.

Yes disregard is right! If you ever become pre-approved the green box where it says apply will say preapproved.
That is good to know. I think I will end up at PenFed to be honest but these caught me off guard so I thought I would ask.

Well I know this for a fact because I applied for a CLI on my DCU visa 8 months ago thinking i was preapproved and got declined. I was pissed that I had a HP thinking I was preapproved and even more pissed I was declined.

But it was my fault, I should have called and asked. During my mini battle with them over it they actually took the time and emailed me a demo picture showing me what a preapproved offer looked like. They also recoded the HP to a soft pull because they believed me when I raised a small argument that they needed to be more specific.

I like DCU, I have my payroll direct deposited there, I got their lowest auto refinance rate of 1.74% 9 months ago. Plus I was instantly approved for the Platinum with a 10k credit line at their lowest which was 8.75%, but since has gone to 9%. Can complain, really.

Re: DCU - Pre-approved?

MyLoFICO — Sat, 15 Apr 2017 20:35:55 GMT

@Anonymous wrote:
@MyLoFICO wrote:
@Anonymous wrote:
@MyLoFICO wrote:
When I first joined DCU they showed my score as they calculate it as 610. I apped their Visa back then and got denied. That was back in April 2016. My FICO 8 for EQF is 680 now. On a hunch I logged in and went to their loan application page and they list all sorts of loans. See below. This is the first time I have seen this. I have been in the garden since August and as of 5-1-2016 I only have 1 inquiry between all 3 CRA less than 12 months old. My question is, do these look like guarantees? Like pre-approved? If so, I won't lie, I need this badly right now. I can refi my truck and get a better rate and maybe get a BT card for some of my debt. The rates are static but if I change the loan repayment duration (months to pay back) the rates change.

Yes disregard is right! If you ever become pre-approved the green box where it says apply will say preapproved.
That is good to know. I think I will end up at PenFed to be honest but these caught me off guard so I thought I would ask.
Well I know this for a fact because I applied for a CLI on my DCU visa 8 months ago thinking i was preapproved and got declined. I was pissed that I had a HP thinking I was preapproved and even more pissed I was declined.

But it was my fault, I should have called and asked. During my mini battle with them over it they actually took the time and emailed me a demo picture showing me what a preapproved offer looked like. They also recoded the HP to a soft pull because they believed me when I raised a small argument that they needed to be more specific.

I like DCU, I have my payroll direct deposited there, I got their lowest auto refinance rate of 1.74% 9 months ago. Plus I was instantly approved for the Platinum with a 10k credit line at their lowest which was 8.75%, but since has gone to 9%. Can complain, really.

As much as I need the help with the low rates, I don't want a HP for a decline. I haven't learned much here but I do know that HP's and DECLINED are bad. lol So, I wait. I can hold off the wolves until then, I hope.

Re: DCU - Pre-approved?

Anonymous — Sat, 15 Apr 2017 20:45:08 GMT

@MyLoFICO wrote:
@Anonymous wrote:
@MyLoFICO wrote:
@Anonymous wrote:
@MyLoFICO wrote:
When I first joined DCU they showed my score as they calculate it as 610. I apped their Visa back then and got denied. That was back in April 2016. My FICO 8 for EQF is 680 now. On a hunch I logged in and went to their loan application page and they list all sorts of loans. See below. This is the first time I have seen this. I have been in the garden since August and as of 5-1-2016 I only have 1 inquiry between all 3 CRA less than 12 months old. My question is, do these look like guarantees? Like pre-approved? If so, I won't lie, I need this badly right now. I can refi my truck and get a better rate and maybe get a BT card for some of my debt. The rates are static but if I change the loan repayment duration (months to pay back) the rates change.

Yes disregard is right! If you ever become pre-approved the green box where it says apply will say preapproved.
That is good to know. I think I will end up at PenFed to be honest but these caught me off guard so I thought I would ask.
Well I know this for a fact because I applied for a CLI on my DCU visa 8 months ago thinking i was preapproved and got declined. I was pissed that I had a HP thinking I was preapproved and even more pissed I was declined.

But it was my fault, I should have called and asked. During my mini battle with them over it they actually took the time and emailed me a demo picture showing me what a preapproved offer looked like. They also recoded the HP to a soft pull because they believed me when I raised a small argument that they needed to be more specific.

I like DCU, I have my payroll direct deposited there, I got their lowest auto refinance rate of 1.74% 9 months ago. Plus I was instantly approved for the Platinum with a 10k credit line at their lowest which was 8.75%, but since has gone to 9%. Can complain, really.
As much as I need the help with the low rates, I don't want a HP for a decline. I haven't learned much here but I do know that HP's and DECLINED are bad. lol So, I wait. I can hold off the wolves until then, I hope.

Do you know what your current EQ FICO 5 is at?

When I was approved for the auto refinance and the credit card my EQ FICO 5 was 735.

Re: DCU - Pre-approved?

MyLoFICO — Sat, 15 Apr 2017 20:50:04 GMT

@Anonymous wrote:
@MyLoFICO wrote:
@Anonymous wrote:
@MyLoFICO wrote:
@Anonymous wrote:
@MyLoFICO wrote:
When I first joined DCU they showed my score as they calculate it as 610. I apped their Visa back then and got denied. That was back in April 2016. My FICO 8 for EQF is 680 now. On a hunch I logged in and went to their loan application page and they list all sorts of loans. See below. This is the first time I have seen this. I have been in the garden since August and as of 5-1-2016 I only have 1 inquiry between all 3 CRA less than 12 months old. My question is, do these look like guarantees? Like pre-approved? If so, I won't lie, I need this badly right now. I can refi my truck and get a better rate and maybe get a BT card for some of my debt. The rates are static but if I change the loan repayment duration (months to pay back) the rates change.

Yes disregard is right! If you ever become pre-approved the green box where it says apply will say preapproved.
That is good to know. I think I will end up at PenFed to be honest but these caught me off guard so I thought I would ask.
Well I know this for a fact because I applied for a CLI on my DCU visa 8 months ago thinking i was preapproved and got declined. I was pissed that I had a HP thinking I was preapproved and even more pissed I was declined.

But it was my fault, I should have called and asked. During my mini battle with them over it they actually took the time and emailed me a demo picture showing me what a preapproved offer looked like. They also recoded the HP to a soft pull because they believed me when I raised a small argument that they needed to be more specific.

I like DCU, I have my payroll direct deposited there, I got their lowest auto refinance rate of 1.74% 9 months ago. Plus I was instantly approved for the Platinum with a 10k credit line at their lowest which was 8.75%, but since has gone to 9%. Can complain, really.
As much as I need the help with the low rates, I don't want a HP for a decline. I haven't learned much here but I do know that HP's and DECLINED are bad. lol So, I wait. I can hold off the wolves until then, I hope.
Do you know what your current EQ FICO 5 is at?

When I was approved for the auto refinance and the credit card my EQ FICO 5 was 735.

My DCU score is 645 and I think that is a 5 score. Its hard to tell with all the sub text they have under it. My 8 is 680 and that is the highest my EQF has ever been. Ever. It is coming up with all the inquiries falling off and my UTIL coming down but I don't know how else to get a Fico 5.

Re: DCU - Pre-approved?

Anonymous — Sat, 15 Apr 2017 20:52:32 GMT

DCU uses the EQ FICO 5 score. If that is what your getting from DCU, then it's the EQ FICO 5 mortgage score.

Re: DCU - Pre-approved?

MyLoFICO — Sat, 15 Apr 2017 20:52:10 GMT

Actually, that might be my Fico 9. Wells Fargo (my mortgage) shows my FICO 9 at 645 too.

Re: DCU - Pre-approved?

MyLoFICO — Sat, 15 Apr 2017 21:00:06 GMT

@Anonymous wrote:
DCU uses the EQ FICO 5 score. If that is what your getting from DCU, then it's the EQ FICO 5 mortgage score.

So the 5 and 9 must be calculated very similarly. Either way, mine is still low. Of course, last month it was 596 so its headed in the right direction.

Re: DCU - Pre-approved?

SouthJamaica — Sat, 15 Apr 2017 23:34:18 GMT

@MyLoFICO wrote:
When I first joined DCU they showed my score as they calculate it as 610. I apped their Visa back then and got denied. That was back in April 2016. My FICO 8 for EQF is 680 now. On a hunch I logged in and went to their loan application page and they list all sorts of loans. See below. This is the first time I have seen this. I have been in the garden since August and as of 5-1-2016 I only have 1 inquiry between all 3 CRA less than 12 months old. My question is, do these look like guarantees? Like pre-approved? If so, I won't lie, I need this badly right now. I can refi my truck and get a better rate and maybe get a BT card for some of my debt. The rates are static but if I change the loan repayment duration (months to pay back) the rates change.

IMHO DCU's pre-approvals are completely fake.

When I joined, they emailed me that I was preapproved for a Visa card. I applied and was turned down.

Lately I noticed they were emphatically saying all over the website that I was preapproved. Like a fool I rose to the bait. And was turned down again. This time with a DOUBLE PULL.... EQ and EX.

I guess my scores of 782 and 790 (747 in EQ FICO 5) weren't good enough for them.

I decided to pull the plug on this operation and closed my accounts with them.

Re: DCU - Pre-approved?

SouthJamaica — Sat, 15 Apr 2017 23:32:19 GMT

@Anonymous wrote:
@MyLoFICO wrote:
@Anonymous wrote:
@MyLoFICO wrote:
When I first joined DCU they showed my score as they calculate it as 610. I apped their Visa back then and got denied. That was back in April 2016. My FICO 8 for EQF is 680 now. On a hunch I logged in and went to their loan application page and they list all sorts of loans. See below. This is the first time I have seen this. I have been in the garden since August and as of 5-1-2016 I only have 1 inquiry between all 3 CRA less than 12 months old. My question is, do these look like guarantees? Like pre-approved? If so, I won't lie, I need this badly right now. I can refi my truck and get a better rate and maybe get a BT card for some of my debt. The rates are static but if I change the loan repayment duration (months to pay back) the rates change.

Yes disregard is right! If you ever become pre-approved the green box where it says apply will say preapproved.
That is good to know. I think I will end up at PenFed to be honest but these caught me off guard so I thought I would ask.
Well I know this for a fact because I applied for a CLI on my DCU visa 8 months ago thinking i was preapproved and got declined. I was pissed that I had a HP thinking I was preapproved and even more pissed I was declined.

But it was my fault, I should have called and asked. During my mini battle with them over it they actually took the time and emailed me a demo picture showing me what a preapproved offer looked like. They also recoded the HP to a soft pull because they believed me when I raised a small argument that they needed to be more specific.

I like DCU, I have my payroll direct deposited there, I got their lowest auto refinance rate of 1.74% 9 months ago. Plus I was instantly approved for the Platinum with a 10k credit line at their lowest which was 8.75%, but since has gone to 9%. Can complain, really.

Mine specifically said it was preapproved, and looked like it.

But it wasn't. It was fake.

Re: DCU - Pre-approved?

MyLoFICO — Sat, 15 Apr 2017 23:46:22 GMT

DCU is on the chopping block for me too. I closed my Barclays Online Svings and moved all the funds to Chase. DCU is next. I have about $57 in there and my Direct Deposit has been changed over to Chase & Resource 1. Resource 1 is also on the chopping block for my personal account (old account from when I was married. My business account has to stay with R1 because the industry I serve is not well received by credit card processors and banks. R1 just happens to be friendly in that respect so I give them my businesses business. But, my personal stuff will eventually end up at PenFed once my scores are higher. I intend to move my truck and house there as well.

Re: DCU - Pre-approved?

Anonymous — Sat, 15 Apr 2017 23:50:34 GMT

@SouthJamaica wrote:
@MyLoFICO wrote:
When I first joined DCU they showed my score as they calculate it as 610. I apped their Visa back then and got denied. That was back in April 2016. My FICO 8 for EQF is 680 now. On a hunch I logged in and went to their loan application page and they list all sorts of loans. See below. This is the first time I have seen this. I have been in the garden since August and as of 5-1-2016 I only have 1 inquiry between all 3 CRA less than 12 months old. My question is, do these look like guarantees? Like pre-approved? If so, I won't lie, I need this badly right now. I can refi my truck and get a better rate and maybe get a BT card for some of my debt. The rates are static but if I change the loan repayment duration (months to pay back) the rates change.

IMHO DCU's pre-approvals are completely fake.

When I joined, they emailed me that I was preapproved for a Visa card. I applied and was turned down.

Lately I noticed they were emphatically saying all over the website that I was preapproved. Like a fool I rose to the bait. And was turned down again. This time with a DOUBLE PULL.... EQ and EX.

I guess my scores of 782 and 790 (747 in EQ FICO 5) weren't good enough for them.

I decided to pull the plug on this operation and closed my accounts with them.

Quite frankly if they said I was preapproved and did a HP and got declined, I would close every single account I have. Auto loan, DCU Platinum with a zero balance, a 10k CD, checking with direct deposit, savings & a money market account.

Believe me, I KNOW THEY WOULD AND COULD CARELESS IF I DID. There are plenty of fish in the sea. I don't play around with creditors games either.

NFCU or Penfed would love to refinance my auto. I like DCU because I live near two branches, so it's convenient and I can't really complain about them. But I have heard they can be bad.

I still say you should fight it southie. Just do it for the sport of it.