topic Re: Sdfcu approved now the process in General Credit Topics

Sdfcu approved now the process

Anonymous — Wed, 24 Feb 2016 18:45:58 GMT

I know it's in here if I really search for it but there are so many different post about it.
So I applied for sdfcu. I received my approval today and have set up the 500$ withdraw for funding the account.
I'm trying to get the loan portion done. Can someone break it down for me how I do the rest after the account is set up?
I don't think I really need the secured CC. I'm just wanting the loan to report to all 3 CRA as my CU only reports to 1.
Also I would want to pay it forward to let only a small balance report for the next X amount of years.
Lamin terms please. I'm an idiot. Lol

Re: Sdfcu approved now the process

Anonymous — Thu, 25 Feb 2016 05:19:52 GMT

@Anonymous wrote:
I know it's in here if I really search for it but there are so many different post about it.
So I applied for sdfcu. I received my approval today and have set up the 500$ withdraw for funding the account.
I'm trying to get the loan portion done. Can someone break it down for me how I do the rest after the account is set up?
I don't think I really need the secured CC. I'm just wanting the loan to report to all 3 CRA as my CU only reports to 1.
Also I would want to pay it forward to let only a small balance report for the next X amount of years.
Lamin terms please. I'm an idiot. Lol

Congrats on getting in with SDFCU; they deneid my application to join. ( I was so hoping to join the SDFCU family that 7.24% interest rate is awesome!)

With that being said I've read tons of glowing reviews abotu SDFCU they are great to get in with. Did you consider applying for the non-secured credit card? Someone else can shed some light on their approval guidlines but your scores are pretty high, so maybe you could get the non-secured version?(Don't take my word for it though, ask around alot of people have spent years with SDFCU.)

I hope you find the answers you are looking for warmest Regards.

Re: Sdfcu approved now the process

Anonymous — Thu, 25 Feb 2016 13:02:43 GMT

Thanks! I did the secure shared loan yesterday, just waiting on the application to go through so it can report to all 3. I'll pay it forward so it can sit there for a few years.
I dunno if they'll give me a CC. My CU is very sensitive about the number of accounts I have open. And I don't know how sensitive they are to that. Currently 40+ open 148k UTI is 3%. I was hoping that they may send me an offer in the mail? But if I could get a CC with that interest rate I'd be happy with that LOL. I thought about the secured CC but that would probably be useless as I have no secured CC and probably better off waiting on a prequalified offer for the unsecured.

Re: Sdfcu approved now the process

manyquestions — Thu, 25 Feb 2016 15:43:13 GMT

@Anonymous wrote:
I did the secure shared loan yesterday, just waiting on the application to go through so it can report to all 3. I'll pay it forward so it can sit there for a few years.

Do they let you do the $500 loan for 48 months?

Re: Sdfcu approved now the process

Anonymous — Thu, 25 Feb 2016 16:22:55 GMT

Idk. I filled out the secured shared loan app. It gave a 60mo option so I chose that one. It's still pending. I don't know how long I can do, if they call me and say it's a max of # of months or if they just reject it. I tried searching but there's so many posts on it. I just said the heck with it and filled it out.

Re: Sdfcu approved now the process

Anonymous — Thu, 25 Feb 2016 16:24:04 GMT

I know I was approved for the shared account and it shows my balance of 500 but probably won't know the loan status until later.

Re: Sdfcu approved now the process

Gmood1 — Thu, 25 Feb 2016 16:48:10 GMT

SDFCU is VERY picky about inqs and new accounts. Good luck to you. I have an account with them, but do not use it. Presently there are other CU's offering better products as a whole IMO. MY EX was a 743 with no blemishes when I opened an account 3 months ago and they shot me down on a PLOC or any credit product. They count your available credit as debt even if you're not using it..kind of silly too me. A lot of the small CU's do this though.

Re: Sdfcu approved now the process

Anonymous — Thu, 25 Feb 2016 17:15:10 GMT

Ok just got off the phone with them. They will only do it for 12mo and it's only 12mo increments. They like to keep all loans 1000 and less at 12mo.
Their rates are extremely better than my CU. we discussed rates on loan,cc, auto, and recreational vehicles. I must say am impressed. The shared CU is cool too. The bad is all loan applications must be done online and I really don't think that's to bad and def not a deal breaker.
I asked about the secured credit card vs unsecured as I have an open one at my CU and he said I could just move my balance over with them from that cu and close down that card.
My app was submitted after he redid the application for me. they use the same HP for the secured loan from the one they pulled when I opened the account. and also if I chose to open a CC they would also use the same HP. So 1 HP for three products isn't a bad deal.
So I'm wondering now if I should go ahead and apply for the unsecured CC? What are my chances?
Scores are current in sig
BK 9 years ago
4 CO 4 years ago
Judgement 5 years ago
State tax lien 9 years ago.
AAoA 1.6 years
INQ
EX 13 TU 2 EQ 5
148k 3% UTI
48 open accounts all in good standing paying as agreed

Re: Sdfcu approved now the process

Anonymous — Thu, 25 Feb 2016 17:16:50 GMT

My yearly income is 130k

Re: Sdfcu approved now the process

Anonymous — Thu, 25 Feb 2016 17:38:34 GMT

@Gmood1 wrote:
SDFCU is VERY picky about inqs and new accounts. Good luck to you. I have an account with them, but do not use it. Presently there are other CU's offering better products as a whole IMO. MY EX was a 743 with no blemishes when I opened an account 3 months ago and they shot me down on a PLOC or any credit product. They count your available credit as debt even if you're not using it..kind of silly too me. A lot of the small CU's do this though.

Good to know thanks.

Our CU is bad so. My DW CS are all above 760. Her rates are

14% on her CC, 6% on her car, and when we had the boat it was 8.99% those are their best rates.

She tried to get a mortgage with them and it was 7.5. She ended up going elsewhere and getting a 4.0

we are going to buy another house in 2018 so we spoke with the loan officer about preparing for the loan, saving a big down payment etc. she pretty much told us it would be about 7.5% and we would be better off going somewhere else as that wasn't their specialty. And the fact they only report to 1 CRA. So we think another CU would be better. Problem is she makes most of her $$ in cash, so we need somewhere to deposit it. Lol

Re: Sdfcu approved now the process

Gmood1 — Thu, 25 Feb 2016 18:07:08 GMT

@Anonymous wrote:
@Gmood1 wrote:
SDFCU is VERY picky about inqs and new accounts. Good luck to you. I have an account with them, but do not use it. Presently there are other CU's offering better products as a whole IMO. MY EX was a 743 with no blemishes when I opened an account 3 months ago and they shot me down on a PLOC or any credit product. They count your available credit as debt even if you're not using it..kind of silly too me. A lot of the small CU's do this though.
Good to know thanks.
Our CU is bad so. My DW CS are all above 760. Her rates are
14% on her CC, 6% on her car, and when we had the boat it was 8.99% those are their best rates.
She tried to get a mortgage with them and it was 7.5. She ended up going elsewhere and getting a 4.0
we are going to buy another house in 2018 so we spoke with the loan officer about preparing for the loan, saving a big down payment etc. she pretty much told us it would be about 7.5% and we would be better off going somewhere else as that wasn't their specialty. And the fact they only report to 1 CRA. So we think another CU would be better. Problem is she makes most of her $$ in cash, so we need somewhere to deposit it. Lol

Yeah..sounds like a reall bad CU there. lol

Penfed would be my go to for auto, home loans etc. There just aren't many CU's that can beat or match their rates. Here are two sites that may help you with the parking cash issue.

If you're going to park it. You may as well get paid to do so. lol

Depending on how much you want to park, along with monthly balance as well as what hoops you're willing to jump through. Will determine which CU's or Banks are the best fit.

https://www.depositaccounts.com/checking/reward-checking-accounts.html

http://www.hustlermoneyblog.com/bank-account-checking-savings-soft-pull-or-hard-pull/

Just plug in you average monthly checking balance and the deposit accounts site will do the work for you.

Re: Sdfcu approved now the process

Anonymous — Thu, 25 Feb 2016 18:18:48 GMT

@Gmood1 wrote:
@Anonymous wrote:
@Gmood1 wrote:
SDFCU is VERY picky about inqs and new accounts. Good luck to you. I have an account with them, but do not use it. Presently there are other CU's offering better products as a whole IMO. MY EX was a 743 with no blemishes when I opened an account 3 months ago and they shot me down on a PLOC or any credit product. They count your available credit as debt even if you're not using it..kind of silly too me. A lot of the small CU's do this though.
Good to know thanks.
Our CU is bad so. My DW CS are all above 760. Her rates are
14% on her CC, 6% on her car, and when we had the boat it was 8.99% those are their best rates.
She tried to get a mortgage with them and it was 7.5. She ended up going elsewhere and getting a 4.0
we are going to buy another house in 2018 so we spoke with the loan officer about preparing for the loan, saving a big down payment etc. she pretty much told us it would be about 7.5% and we would be better off going somewhere else as that wasn't their specialty. And the fact they only report to 1 CRA. So we think another CU would be better. Problem is she makes most of her $$ in cash, so we need somewhere to deposit it. Lol
Yeah..sounds like a reall bad CU there. lol
Penfed would be my go to for auto, home loans etc. There just aren't many CU's that can beat or match their rates. Here are two sites that may help you with the parking cash issue.
If you're going to park it. You may as well get paid to do so. lol
Depending on how much you want to park, along with monthly balance as well as what hoops you're willing to jump through. Will determine which CU's or Banks are the best fit.
https://www.tonthiss.com/checking/reward-checking-accounts.html
http://www.hustlermoneyblog.com/bank-account-checking-savings-soft-pull-or-hard-pull/

Just plug in you average monthly checking balance and the deposit accounts site will do the work for you.

Thanks I'll look into those. We're constantly moving cash around 6 different bank accounts at the same CU. we can't do it online as they don't link any accounts. Also to have a CC we both have to have a savings/checking account. So we literally have 6 accounts ( 3 savings, 3 checking ) at this one CU. I had to open up a savings for a truck payment, open up a savings for my cc and then open up a checking. If we go down to 1 checking and 1 savings then one of us lose our loan and CC privelage. Every Friday my DW is in the CU moving money around to cover the auto pays for the CU because I can only DD into 2 accounts.

Im going to look into penfed see what the requirements are. I was declined by navy because of the requirements.

Re: Sdfcu approved now the process

Gmood1 — Thu, 25 Feb 2016 18:31:41 GMT

@Anonymous wrote:
@Gmood1 wrote:
@Anonymous wrote:
@Gmood1 wrote:
SDFCU is VERY picky about inqs and new accounts. Good luck to you. I have an account with them, but do not use it. Presently there are other CU's offering better products as a whole IMO. MY EX was a 743 with no blemishes when I opened an account 3 months ago and they shot me down on a PLOC or any credit product. They count your available credit as debt even if you're not using it..kind of silly too me. A lot of the small CU's do this though.
Good to know thanks.
Our CU is bad so. My DW CS are all above 760. Her rates are
14% on her CC, 6% on her car, and when we had the boat it was 8.99% those are their best rates.
She tried to get a mortgage with them and it was 7.5. She ended up going elsewhere and getting a 4.0
we are going to buy another house in 2018 so we spoke with the loan officer about preparing for the loan, saving a big down payment etc. she pretty much told us it would be about 7.5% and we would be better off going somewhere else as that wasn't their specialty. And the fact they only report to 1 CRA. So we think another CU would be better. Problem is she makes most of her $$ in cash, so we need somewhere to deposit it. Lol
Yeah..sounds like a reall bad CU there. lol
Penfed would be my go to for auto, home loans etc. There just aren't many CU's that can beat or match their rates. Here are two sites that may help you with the parking cash issue.
If you're going to park it. You may as well get paid to do so. lol
Depending on how much you want to park, along with monthly balance as well as what hoops you're willing to jump through. Will determine which CU's or Banks are the best fit.
https://www.tonthiss.com/checking/reward-checking-accounts.html
http://www.hustlermoneyblog.com/bank-account-checking-savings-soft-pull-or-hard-pull/

Just plug in you average monthly checking balance and the deposit accounts site will do the work for you.

Thanks I'll look into those. We're constantly moving cash around 6 different bank accounts at the same CU. we can't do it online as they don't link any accounts. Also to have a CC we both have to have a savings/checking account. So we literally have 6 accounts ( 3 savings, 3 checking ) at this one CU. I had to open up a savings for a truck payment, open up a savings for my cc and then open up a checking. If we go down to 1 checking and 1 savings then one of us lose our loan and CC privelage. Every Friday my DW is in the CU moving money around to cover the auto pays for the CU because I can only DD into 2 accounts.
Im going to look into penfed see what the requirements are. I was declined by navy because of the requirements.

Penfed accepts anyone. No real reqs to meet. Just donate to the fund they have on the site. It will walk you through. Penfed is a EQ puller only. Normally the pull is good for 90 days with all of their products. I wish they offered highr yield checking and savings or I would do even more business with them.

I'd lose my mind banking with your CU!! Sounds like something out of the stone ages. lol Jeeezz that's insane.

Time for ya'll to find a new bank/CU.