topic Re: CU's that pull EQ in Credit Cards

CU's that pull EQ

Anonymous — Mon, 20 Jul 2009 01:53:03 GMT

I wanted to apply for new credit card and EQ is my best CR. I have Alliant credit card (great card) but wanted one more CU card (major banks too unpredictable). Does anyone know of an exclusive EQ puller by CU? Thanks

Re: CU's that pull EQ

smallfry — Mon, 20 Jul 2009 02:03:02 GMT

Penfed and Navy Federal.

Re: CU's that pull EQ

Anonymous — Mon, 20 Jul 2009 02:07:25 GMT

@smallfry wrote:
Penfed and Navy Federal.

Thanks smallfry, but I don't think I qualify for membership to NFCU. Also, my EQ FICO is 690ish, no derrogs, some inquiries, and from what I've read would probably not qualify for Penfed card

Re: CU's that pull EQ

Anonymous — Mon, 20 Jul 2009 02:14:05 GMT

Do you have new accounts? What is your util? And do you have high CL's/debt already relative to your income?

Most credit unions pull EQ. My local CU pulled all three when a app'ed and booked an auto loan with then two years ago.

Re: CU's that pull EQ

Anonymous — Mon, 20 Jul 2009 02:32:11 GMT

@Anonymous wrote:
Do you have new accounts? What is your util? And do you have high CL's/debt already relative to your income?

Most credit unions pull EQ. My local CU pulled all three when a app'ed and booked an auto loan with then two years ago.

I have 2 new accounts within past year, UTIL 30%, income over $110K, AAoA 3 years, no lates, no baddies, highest CL $11K, average around $3K

Re: CU's that pull EQ

Anonymous — Mon, 20 Jul 2009 03:13:01 GMT

@Anonymous wrote:
@Anonymous wrote:
Do you have new accounts? What is your util? And do you have high CL's/debt already relative to your income?

Most credit unions pull EQ. My local CU pulled all three when a app'ed and booked an auto loan with then two years ago.
I have 2 new accounts within past year, UTIL 30%, income over $110K, AAoA 3 years, no lates, no baddies, highest CL $11K, average around $3K

Total revolving debt, total revolving credit, inq's in last 6 months, new accounts in last 6 months, total revolving accounts, total revolving account with balances, EQ FICO score?

Re: CU's that pull EQ

Anonymous — Mon, 20 Jul 2009 03:23:36 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Do you have new accounts? What is your util? And do you have high CL's/debt already relative to your income?

Most credit unions pull EQ. My local CU pulled all three when a app'ed and booked an auto loan with then two years ago.
I have 2 new accounts within past year, UTIL 30%, income over $110K, AAoA 3 years, no lates, no baddies, highest CL $11K, average around $3K
Total revolving debt, total revolving credit, inq's in last 6 months, new accounts in last 6 months, total revolving accounts, total revolving account with balances, EQ FICO score?

Total debt - $12K

Total CL - $39K

Inq. 6 mos. - 5 (3 for leases; 2 revolving)

New Accounts 6 mos. - 2 leases; 1 credit card

Total Revolving accts - 5

Eq FICO 691

Re: CU's that pull EQ

Anonymous — Mon, 20 Jul 2009 03:27:59 GMT

Crap - I forgot to ask you if that $110K was all your income or if it is HHI. If it is HHI what is your income and would you be app'ing for the card as a joint card or individually.

I assume the new account is Alliant.

Re: CU's that pull EQ

Anonymous — Mon, 20 Jul 2009 04:16:09 GMT

@Anonymous wrote:
Crap - I forgot to ask you if that $110K was all your income or if it is HHI. If it is HHI what is your income and would you be app'ing for the card as a joint card or individually.

I assume the new account is Alliant.

Individual, applying solo

Alliant is 7 months old, new account is US Bank - 2mos.

Re: CU's that pull EQ

Anonymous — Mon, 20 Jul 2009 04:19:53 GMT

I would halt app'ing, wait until anything new is more that six months old, pay your balances down a little and then app PenFed and ask for $20K right out of the box. If you do not get $20K you should get a counteroffer or recon for $10K.

I am perfectly serious.

Re: CU's that pull EQ

Anonymous — Mon, 20 Jul 2009 06:28:43 GMT

@Anonymous wrote:
I would halt app'ing, wait until anything new is more that six months old, pay your balances down a little and then app PenFed and ask for $20K right out of the box. If you do not get $20K you should get a counteroffer or recon for $10K.

I am perfectly serious.

Thanks for the advice. PenFed is quality, which is the most desirable lender to deal with in this "bizarro world" environment

Re: CU's that pull EQ

score_building — Mon, 20 Jul 2009 07:30:11 GMT

illtakecreditforthat wrote:
... PenFed is quality, which is the most desirable lender to deal with in this "bizarro world" environment

yes, they're top notch and you may have a decent shot at approval soon but don't be put off if you don't get in on your first try, many with excellent profiles do not. you can brush up and reapp w/o prejudice if you don't get in at first app or recon, many who reapp successfully report it being worth the wait. GL!

Re: CU's that pull EQ

pattycake — Mon, 20 Jul 2009 15:31:08 GMT

I keep reading about how great PenFed is, and now I'm seriously thinking about opening a savings account to make my way in. My EQ is okay, but I keep wondering about what my EX is.

Re: CU's that pull EQ

score_building — Mon, 20 Jul 2009 15:44:23 GMT

@pattycake wrote:
I keep reading about how great PenFed is, and now I'm seriously thinking about opening a savings account to make my way in. My EQ is okay, but I keep wondering about what my EX is.

not worth the inq for just the savings/share acct. app when you are ready to app for loans too since they will use the one inq (EQ) for the first 60-90 days in most cases. things they don't like-generally speaking:

new accts

EQ inqs

short histories

recent neg info

util over 20-25%

too much available credit compared to income

high DTI ratio

Re: CU's that pull EQ

Anonymous — Mon, 20 Jul 2009 18:44:54 GMT

@score_building wrote:
@pattycake wrote:
I keep reading about how great PenFed is, and now I'm seriously thinking about opening a savings account to make my way in. My EQ is okay, but I keep wondering about what my EX is.
not worth the inq for just the savings/share acct. app when you are ready to app for loans too since they will use the one inq (EQ) for the first 60-90 days in most cases. things they don't like-generally speaking:

new accts
EQ inqs
short histories
recent neg info
util over 20-25%
too much available credit compared to income
high DTI ratio

Yes. Exactly correct. +1

Wait until at least six months have passed on any INQs or new accounts. Also, you have to app PenFed at the correct point in your credit development program. That point is as soon as you can clear the approval bar. If you are well progressed with your credit building and have a lot of available credit relative to your income that can nix the deal. I think this is why you see people with pretty high FICO scores being turned away.

Re: CU's that pull EQ

BungalowMo — Mon, 20 Jul 2009 18:49:32 GMT

Makes you wonder where that "happy" point is for them. Too high available credit to income...nix Too low is a no go as well.

Any idea what that golden % is?

Re: CU's that pull EQ

Anonymous — Mon, 20 Jul 2009 19:03:25 GMT

No. But I will add that once you have been granted unsecured credit by PenFed the rules seem to become somewhat looser. (Which is fair. You then have actual experience with them that they can monitor.) I have a relationship with them and have some funds on deposit there. (Certainly not a great deal. A few thousand.) They have treated my very well in return.