topic Re: Alliant recent CLI experiences in Credit Cards

Alliant recent CLI experiences

visorboy1974 — Tue, 26 Apr 2011 17:53:47 GMT

Has anybody had recent CLI successes with Alliant?

I'm at $500 and 21% APR. They told me when I applied that I'd be eligible for a CLI in 6 months, which is coming up on us quickly. Should I have any expectations? I'm at 5% util and ~700 FICO. I was @ ~650 FICO and about 60% util when I applied for the card last year.

Re: Alliant recent CLI experiences

DI — Wed, 27 Apr 2011 01:32:36 GMT

I never heard of them personally.

Re: Alliant recent CLI experiences

visorboy1974 — Wed, 27 Apr 2011 01:36:16 GMT

@DI wrote:
I never heard of them personally.

It's a pretty popular credit union. I'm sure some members here have credit cards issued by them.

Re: Alliant recent CLI experiences

score_building — Wed, 27 Apr 2011 02:08:18 GMT

Yep one of the more popular major CU referenced at the forums, didn't approach them for CLI until almost 2 yrs as a cardholder, can request after 6 mos but IMO they are more inclined to CLI 12+ mos in.

Applied online, new CL available following morning. Generous, solid CU IME.

@visorboy1974 wrote:

It's a pretty popular credit union. I'm sure some members here have credit cards issued by them.

Re: Alliant recent CLI experiences

DI — Wed, 27 Apr 2011 02:11:11 GMT

Do they offer 5% cashback gas? Maybe I should have went with them instead of PenFed. I've been with PenFed for 1.7 years and haven't received a CLI.

Re: Alliant recent CLI experiences

visorboy1974 — Wed, 27 Apr 2011 02:26:02 GMT

@DI wrote:
Do they offer 5% cashback gas? Maybe I should have went with them instead of PenFed. I've been with PenFed for 1.7 years and haven't received a CLI.

No. They have a CU Rewards Points card.

More widely known for their higher than normal interest rates on savings and checking accounts. I love their ACH service as well. Make a transfer before noon CT and your money transferred by the next morning.

Re: Alliant recent CLI experiences

Anonymous — Wed, 27 Apr 2011 13:07:56 GMT

@visorboy1974 wrote:

@DI wrote:
Do they offer 5% cashback gas? Maybe I should have went with them instead of PenFed. I've been with PenFed for 1.7 years and haven't received a CLI.

No. They have a CU Rewards Points card.

More widely known for their higher than normal interest rates on savings and checking accounts. I love their ACH service as well. Make a transfer before noon CT and your money transferred by the next morning.

And I'd never have learned of Alliant if it wasn't for the credit card threads on these boards a couple of years back.

Re: Alliant recent CLI experiences

Anonymous — Wed, 27 Apr 2011 14:29:26 GMT

I was recently denied for a CLI at the 6 month mark for not enough experience with them. It cost me a hard too.

scores around 640, but they use their own scoring system.

Re: Alliant recent CLI experiences

Anonymous — Wed, 27 Apr 2011 14:35:21 GMT

@Anonymous wrote:
I was recently denied for a CLI at the 6 month mark for not enough experience with them. It cost me a hard too.

scores around 640, but they use their own scoring system.

Hi jaystay,

I knew AmEx used their own scoring system, and I've heard that Citi does as well. I'd never heard that about Alliant until now. Could you elaborate on that?

btw, we're big fans of Alliant. Nice CL. Okay rewards (we garnered a new iPod recently).

Re: Alliant recent CLI experiences

Cranston — Wed, 27 Apr 2011 14:54:20 GMT

I read elsewhere they use the FICO 08 model.

Re: Alliant recent CLI experiences

score_building — Wed, 27 Apr 2011 15:05:14 GMT

As with Amex, it is a proprietary scoring model AFAIK.

Alliant's is used in connection with EQ if am not mistaken, not sure if there is much more info out there about it though.

Re: Alliant recent CLI experiences

Anonymous — Wed, 27 Apr 2011 17:37:14 GMT

@Cranston wrote:
I read elsewhere they use the FICO 08 model.

Alliant does provide their CC holders with updated credit scores quarterly. Until recently they offered the Experian Advanced Risk Score 2.0 - which is a FICO NextGen score.

Recently, unfortunately, they changed and they now provide fako Vantage scores to consumers. Dang it.

There's no indication that they use the same scores they provide to consumers. I've had other cards (my rebuilder Orchard, for example) that would provide scores to me, the consumer, as a paid service. They were fako scores that were not used by lenders and were for consumers only.

Alliant pulled Equifax for the CC approval, and they continue to soft (AR) DH on Equifax. But he gets softed on Experian on the same dates they update the Experian scores.

However, I'm still unclear as to whether they use their own internal scoring - and if so do they apply it to CC apps only and/or to other products i.e. mortgages which they handle somewhat differently.

Re: Alliant recent CLI experiences

Anonymous — Wed, 27 Apr 2011 17:41:01 GMT

@visorboy1974 wrote:
Has anybody had recent CLI successes with Alliant?

@I'm at $500 and 21% APR. They told me when I applied that I'd be eligible for a CLI in 6 months, which is coming up on us quickly. Should I have any expectations? I'm at 5% util and ~700 FICO. I was @ ~650 FICO and about 60% util when I applied for the card last year.

Hey visorboy,

Your utility and your FICO have certainly moved up since you app'd!

Another thing to consider is that APR. When talking to the CSR, you might want to consider asking them to adjust that downwards as they review your account.

Historically, if I remember, all CLI's were hard pulls on Equifax. Might as well make that hard pull work double duty!

Hopefully other folks will chime in on their success with CLI's - and if you decide to go for it, please keep us posted.

Best wishes!

Re: Alliant recent CLI experiences

Anonymous — Wed, 27 Apr 2011 18:04:13 GMT

Their internal score used is actually higher than my FICO so I can't complain about that, but they only gave me a $1k card which makes it one of my smallest. I requested CLI with NFCU at the same time and they bumped me from 7 to 10k so it sucks I couldn't get a dime from Alliant. Oh well, they told me to try again after I reach a year so we'll see.

Re: Alliant recent CLI experiences

Anonymous — Wed, 27 Apr 2011 18:11:46 GMT

@Anonymous wrote:
Their internal score used is actually higher than my FICO so I can't complain about that, but they only gave me a $1k card which makes it one of my smallest. I requested CLI with NFCU at the same time and they bumped me from 7 to 10k so it sucks I couldn't get a dime from Alliant. Oh well, they told me to try again after I reach a year so we'll see.

Wow - so Alliant quoted you their internal score?

That's so dang interesting.

So, with Alliant you have your FICO score, their internal score, plus the FAKO score they now provide??? No wonder folks get confused.

Well, at least you gotta love that it's higher!!! And I'm glad NFCU was great with the CL and the CLI - congratulations!

Re: Alliant recent CLI experiences

visorboy1974 — Wed, 27 Apr 2011 18:17:16 GMT

@Anonymous wrote:
@visorboy1974 wrote:
Has anybody had recent CLI successes with Alliant?

@I'm at $500 and 21% APR. They told me when I applied that I'd be eligible for a CLI in 6 months, which is coming up on us quickly. Should I have any expectations? I'm at 5% util and ~700 FICO. I was @ ~650 FICO and about 60% util when I applied for the card last year.
Hey visorboy,

Your utility and your FICO have certainly moved up since you app'd!
Another thing to consider is that APR. When talking to the CSR, you might want to consider asking them to adjust that downwards as they review your account.
Historically, if I remember, all CLI's were hard pulls on Equifax. Might as well make that hard pull work double duty!

Hopefully other folks will chime in on their success with CLI's - and if you decide to go for it, please keep us posted.

Best wishes!

Thanks! They did note the amount of new accounts and a 4 yr old BK as the reason why they wanted to see 6 more months of history before I could ask for a CLI. That said, the mistake I made (the biggest one of my credit rebuilding life) was that I had gone on a app spree in April 2010. Of the 7 cards I got then, I still have 1 open. Most were with toy limits so that might have influenced the decision to give me the minimum limit. At the time of applying, my highest CL was $3000. Now I have one that's at $19K and anything that was under $1K has been closed (I've closed about 10 accounts in the past 6 months). I'm hoping they see the improvement as well as the current limits and at least allow me to go well into 4 digit territory and come down some with the APR. If I can do that, I'll have 2 main cards to use and any of the other cards I have, I can put periodic charges on them to keep them active and just keep on trying to rebuild.

Re: Alliant recent CLI experiences

veracious — Wed, 27 Apr 2011 18:18:16 GMT

@Anonymous wrote:
@Anonymous wrote:
I was recently denied for a CLI at the 6 month mark for not enough experience with them. It cost me a hard too.

scores around 640, but they use their own scoring system.
Hi jaystay,

I knew AmEx used their own scoring system, and I've heard that Citi does as well. I'd never heard that about Alliant until now. Could you elaborate on that?

btw, we're big fans of Alliant. Nice CL. Okay rewards (we garnered a new iPod recently).

Alliant uses the FICO Pinnacle scoring model.

At least they did when I applied last year. I didn't like the measly credit line they offered, my decline and their 2 hard pulls

left a very bad feeling towards them. I app'ed with them because eveyone said they were great.

At the time my scores were 760 or so, and I app'd them after USAA thank goodness.

Maybe they didn't like the recent USAA app. I applied in person at the CU and they were visibly uncomfortable

by my wife and my presence.

Re: Alliant recent CLI experiences

Anonymous — Wed, 27 Apr 2011 18:41:13 GMT

@Anonymous wrote:
@Anonymous wrote:
Their internal score used is actually higher than my FICO so I can't complain about that, but they only gave me a $1k card which makes it one of my smallest. I requested CLI with NFCU at the same time and they bumped me from 7 to 10k so it sucks I couldn't get a dime from Alliant. Oh well, they told me to try again after I reach a year so we'll see.
Wow - so Alliant quoted you their internal score?
That's so dang interesting.
So, with Alliant you have your FICO score, their internal score, plus the FAKO score they now provide??? No wonder folks get confused.

Well, at least you gotta love that it's higher!!! And I'm glad NFCU was great with the CL and the CLI - congratulations!

Thanks. Yea, when you app you can ask them after they process it (I apped for the CC in person and the CLI over the phone). They said my score was 720

Re: Alliant recent CLI experiences

Anonymous — Thu, 28 Apr 2011 02:38:04 GMT

Why do you think they were uncomfortable? That seems really odd. I've found them to be nice folks.

Re: Alliant recent CLI experiences

Anonymous — Thu, 28 Apr 2011 04:02:08 GMT

@veracious wrote:

Alliant uses the FICO Pinnacle scoring model.

Just a note to others reading this (and I hope folks will correct me if I'm mistaken on the monikers):

Each bureau uses a different name for its score, even if it uses the same FICO algorithm to generate the score. For example:
- Experian uses the term "FICO or FICO II",
- TransUnion uses "Empirica"
- Equifax uses "Beacon"

For NextGen FICO scores, (created by Fair Isaac Corp.) the new names became:
- FICO advanced risk score, used by Experian
- Precision, used by TransUnion
- Pinnacle, used by Equifax

So Pinnacle is the NextGen EQ FICO.

Glad someone is using it!