topic Re: SDFCU Premium CashBack+ in Credit Cards

SDFCU Premium CashBack+

Anonymous — Sun, 06 May 2018 00:50:16 GMT

Got an advertisement in the mail yesterday promoting this card. Said 2 % cash back on all purchases, $200 bonus on $3k spend, credit limit from $5k to $100k, and interest rate starting at 10.74%; also no foreign transaction fee or annual fee. Not looking for any additional credit myself, but didn't know if it would be of interest to anyone else.

https://www.sdfcu.org/cashback/"

Re: SDFCU Premium CashBack+

AverageJoesCredit — Sun, 06 May 2018 00:46:41 GMT

KAYKAY's back in the house

We missed ya, I'll take the 100k please

Re: SDFCU Premium CashBack+

Anonymous — Sun, 06 May 2018 00:51:41 GMT

Missed everyone too AJC.

Plan to be back on forum more often from now on.

Re: SDFCU Premium CashBack+

Loquat — Sun, 06 May 2018 00:59:19 GMT

Got this one in the mail as well. Caught my attention because I rarely get anything from SDFCU other than the preapproved check they tend to send our yearly around Christmas. If I didn't already have several 2% CB cards maybe I would entertain.

Re: SDFCU Premium CashBack+

FinStar — Sun, 06 May 2018 01:02:42 GMT

@Anonymous wrote:
Got an advertisement in the mail yesterday promoting this card. Said 2 % cash back on all purchases, $200 bonus on $3k spend, credit limit from $5k to $100k, and interest rate starting at 10.74%; also no foreign transaction fee or annual fee. Not looking for any additional credit myself, but didn't know if it would be of interest to anyone else.
https://www.sdfcu.org/cashback/"

Nice to see they're trying to keep up with all the other 2% CB players Wondering what their CU membership requirements are these days? I recall a long while back, way before this product came along, it was a pretty drawn-out manual process. Maybe it changed?

Re: SDFCU Premium CashBack+

Anonymous — Sun, 06 May 2018 01:03:53 GMT

@Loquat wrote:
Got this one in the mail as well. Caught my attention because I rarely get anything from SDFCU other than the preapproved check they tend to send our yearly around Christmas. If I didn't already have several 2% CB cards maybe I would entertain.

I hadn't gotten anything from them in a while and was considering closing out that account since I have ones with both PenFed and NFCU. Guess I'll hang on to the account a while longer. Like the interest rate and starting limit. Might be something to shoot for in the future.

Re: SDFCU Premium CashBack+

UpperNwGuy — Sun, 06 May 2018 01:41:16 GMT

A couple of members of this forum applied for this card two months ago when it was first issued. They were denied because they "already had a large number of credit cards". That scared me away from applying, and that's sad, because this is the perfect credit card for me:

-- 2% cash back on everything

-- no annual fee

-- no foreign transaction fee

-- the ability to set up the chip with PIN priority (very important to me with my frequent European travels)

Re: SDFCU Premium CashBack+

FinStar — Sun, 06 May 2018 02:20:18 GMT

@UpperNwGuy wrote:
A couple of members of this forum applied for this card two months ago when it was first issued. They were denied because they "already had a large number of credit cards". That scared me away from applying, and that's sad, because this is the perfect credit card for me:
-- 2% cash back on everything
-- no annual fee
-- no foreign transaction fee
-- the ability to set up the chip with PIN priority (very important to me with my frequent European travels)

Well, that pretty much takes me out of the horse race LOL. The chip with PIN priority would've been a nice feature like my current Diners Club and UNFCU Elite. Thanks for posting this @UpperNwGuy.

Re: SDFCU Premium CashBack+

Gmood1 — Sun, 06 May 2018 02:54:12 GMT

SDFCU is a cool little credit union, just way too conservative for those of use with more than 3 or 4 credit cards. They'll deny you a CC but offer a SP personal loan a week later. lol
I was denied by them over two years ago for a CC. At least twice a year I get offered a live preapproved check to cash. Doesn't make much sense to me.🤔
Oh and I received an offer for that 2% card not long ago, but I dare not waste the time applying. They send those fake pre-approved CC offers as well. lol

Re: SDFCU Premium CashBack+

NRB525 — Sun, 06 May 2018 03:22:33 GMT

I got the mailer as well.
Has anyone recently, or from this mailer prompt, apped SDFCU 2% ?

Re: SDFCU Premium CashBack+

Anonymous — Sun, 06 May 2018 09:19:00 GMT

@FinStar

Wondering what their CU membership requirements are these days? I recall a long while back, way before this product came along, it was a pretty drawn-out manual process. Maybe it changed?

Not pretty to say the least. SDFCU is manual everything. takes upto two weeks to process anything, their best customers reside pretty much around DC & Virginia, anyone outside of their DC/VA area and you have to forget inquiring about the status of anything (membership/cc/loans/auto) without going thru being transferred over & over again until you get tired of being transferred.

Re: SDFCU Premium CashBack+

Guyatthebeach — Sun, 06 May 2018 13:00:19 GMT

Welcome back kaykay65!

I have to say SDFCU is a fantastic CU that has always treated me well. I thought about applying for their 2% card, but I didn’t when I started hearing people getting declined for having too much credit.

I have over $230k in credit lines spread over 20 cards. I doubt I be approved despite having a card and their preapproved loan with them.

Guyatthebeach

Re: SDFCU Premium CashBack+

digitek — Sun, 06 May 2018 14:17:07 GMT

I really want to snag this card, hoping it will be my last. Going to close some cards, Citi DC and Amex BCP. Two cards I have are business and won't show on personal report. I don't really request CLI sine I PiF so I don't have a huge total credit limit, it's about half my income.

Going to wait a few months until reports look lovely and inqs fall off.

I'm a member of American Consumer Council and hoping to get CU membership that way. Anyone know if I can join the CU without applying for the CC?

Re: SDFCU Premium CashBack+

Anonymous — Sun, 06 May 2018 14:35:48 GMT

@Gmood1 wrote:
SDFCU is a cool little credit union, just way too conservative for those of use with more than 3 or 4 credit cards. They'll deny you a CC but offer a SP personal loan a week later. lol
I was denied by them over two years ago for a CC. At least twice a year I get offered a live preapproved check to cash. Doesn't make much sense to me.🤔
Oh and I received an offer for that 2% card not long ago, but I dare not waste the time applying. They send those fake pre-approved CC offers as well. lol

Yes, I also got that offer. Didn't bite. Too hard a nut to crack, however, like Gmood1 I also get those loan checks yearly. Go figure. Oh, on my account for the first time are two credit card offers, just not that one. Just not going there.

Re: SDFCU Premium CashBack+

Namaste7 — Sun, 06 May 2018 14:45:41 GMT

@Guyatthebeach wrote:
Welcome back kaykay65!

I have to say SDFCU is a fantastic CU that has always treated me well. I thought about applying for their 2% card, but I didn’t when I started hearing people getting declined for having too much credit.

I have over $230k in credit lines spread over 20 cards. I doubt I be approved despite having a card and their preapproved loan with them.

Guyatthebeach

Those with an existing AND active relationship with the CU and has strong, verifiable income, may be able to slide through the backdoor (recon).

Re: SDFCU Premium CashBack+

SBR249 — Sun, 06 May 2018 15:08:03 GMT

@Namaste7
Those with an existing AND active relationship with the CU and has strong, verifiable income, may be able to slide through the backdoor (recon).

Yeah that "strong, verifiable income" thing is a total non-starter unless you are in a vanilla job with regular pay and you can show a regular paystub and you live in a nice house with a white picket fence with a golden retriever and 2.2 kids. Even a single toe out of line, and you'll be denied faster than you can say "credit".

Re: SDFCU Premium CashBack+

Guyatthebeach — Sun, 06 May 2018 19:10:28 GMT

I’m not biting on this one yet. If SDFCU sends me another preapproved check later this year, I will apply for the card then. I will recon it if it’s denied. I have only had to send them proof of income once in the four years I’ve been a member.

Guyatthebeach

Re: SDFCU Premium CashBack+

Namaste7 — Sun, 06 May 2018 23:08:02 GMT

@SBR249 wrote:
@Namaste7
Those with an existing AND active relationship with the CU and has strong, verifiable income, may be able to slide through the backdoor (recon).

Yeah that "strong, verifiable income" thing is a total non-starter unless you are in a vanilla job with regular pay and you can show a regular paystub and you live in a nice house with a white picket fence with a golden retriever and 2.2 kids. Even a single toe out of line, and you'll be denied faster than you can say "credit".

I would agree that SDFCU is not the bank for credit junkies and churners 😂. I find SDFCU to be more conservative than the almighty CU that deems everyone an Egyptian 😋.

I understand why SDFCU is shunned here but I do think their is value for certain people (low interest rates, no fee cards and high CLs with supportable income and low DTI)...For anyone who wants to develop a long-term relationship with a CU and may hit one or more of their unstated preferred membership criteria (lives/works in region, federal employee, high-income/stable career), the slow app process and HPs may be worth it.

I hate I missed the fixed interest rates on their initial credit card.

Re: SDFCU Premium CashBack+

Guyatthebeach — Sun, 06 May 2018 23:47:33 GMT

Namaste7,

You bring up some very valid points. Having declared bankruptcy in 2011 and it discharged in 2012, SDFCU has been great to me.

They are the lowest APR Visa I have and one of the higher credit lines. I did have to recon my first application. I only had to provide proof of income once and their never had for proof of income again. I have been offered the preapproved checks every year for the last three years. I've been very impressed with the service SDFCU has given me over the years.

I think SDFCU is an excellent credit union for those that need to rebuild after a bankrutpcy or other financial disaster. I don't have a bad thing to say about them. I also think they are great for people with average credit and those with perfect credit.

Guyatthebeach

Re: SDFCU Premium CashBack+

Datx — Sun, 13 May 2018 06:23:59 GMT

Hi guys. I haven't posted in a very long time. But I wanted to share info with the community. I have been reading the credit forums just recently because I wanted to find out if anyone was talking about this card. I also received a mailer regarding this card recently, almost the same date this thread was started. With the mailer in my hand, I logged onto my account to see if there was some sort of pre-approval messge of some sort (wishful thinking) but there was none. Next thing I know, I was applying for the card. After I applied I felt kinda bad, because I knew my CRs haven't yet reported $0 balances on credit cards that I recently paid off. Then I started to feel like I pulled the trigger too early, and started to feel like I wasted a HP for nothing. I checked the status of my application hours later and it says REFERRED. Which to me, is another bad sign because I have seen this mesage before when I first applied for a credit card with them last year and was later denied. When reviewing my already submitted application on the website, the website allows you to write a message and upload documents (pay stubs) etc. And so....I wrote them a message. I was honest, I told them that I may have pulled the trigger too early and stated I recently paid down cards that may not yet been reported on my CRs. I even stated that I am hoping to be approved for even a low limit to start off with. I even uploaded my two most recent pay stubs without them asking for it, just hoping that they will see I have the income to support my credit application.

I applied for the card Saturday mid monring on 5/5. Thinking the loan dept will just later deny my request by the afternoon. Saturday goes by, and I had a feeling I won't get a reponse until Monday on 5/6. Monday I am checking my app status and it still shows REFERRED. Then by mid monday morning, I get a secured email message (DocuSign) with a credit card agreement, credit score disclosure, risk based pricing notice, etc. I admit, I was a bit suprised/shocked/confused. Was this just a new procedure they do now? They didn't do this last year when I was denied. I keep checking status every few hours like a mad man, lol. Still nothing. Tuesday rolls by, and I am checking status when I can during work. Then I get another email. I was shocked....I was approved for $5K. APR is high at 18%. I later found out that $5K is the minimum for this card. Max runs up to $100K. Just a few quick stats. I filed for CH7 back on December of 2015. Discharged around April 2016. They pulled EX and the credit score disclosure had me at 626 out of a score range of 320 - 844. This is now my highest limit card since BK. I have been in rebuild mode, and have opened about 10 different cards that have been low limits. The highest CL I have open is a Walmart card with $3500. The last few months I have been paying off balances and closing the low limit cards with fees. I really think the message I sent, and including my two recent paystubs helped in getting approved. I have applied for CCs with other CUs that I am a member of, and everyone has turned me down. Only SDFCU is giving me a chance. I hope this info helps anyone interested in the card.