topic Re: Half approved to SDFCU ?! in Rebuilding Your Credit

Half approved to SDFCU ?!

Anonymous — Tue, 07 Jul 2020 21:01:58 GMT

So,

I followed the advices here and appplied for the The secured credit card , BUT, you have to apply for an account first with them , so I applied for a savings account.

a week goes by and they asked for ID and proof of address ( I live in another state that doesn't have SDFCU ) I sent those and they approved my savings account application but the secured credit card still pending , o called them and they told me to speak to member services which were closed at the time but she asked me if the funds are in the account if the funds for the card aren't in the account they wouldn't approved the secured credit card , I know it makes sense , but was this the case for you guys who applied ?
let me know ! I'm going to out $2000 on this card , calling back tomorrow morning .

Re: Half approved to SDFCU ?!

Red1Blue — Tue, 07 Jul 2020 21:03:12 GMT

Yes.

Re: Half approved to SDFCU ?!

Anonymous — Tue, 07 Jul 2020 21:13:15 GMT

How do you make a deposit if you don't live where there is a SDFCU?

@Red1Blue wrote:
Yes.

Re: Half approved to SDFCU ?!

gdale6 — Tue, 07 Jul 2020 22:29:34 GMT

@Anonymous wrote:
How do you make a deposit if you don't live where there is a SDFCU?
@Red1Blue wrote:
Yes.

You have to set up ACH transfers between your existing bank accounts and them or mail them a check for deposit to your savings

Re: Half approved to SDFCU ?!

Red1Blue — Tue, 07 Jul 2020 22:44:34 GMT

@gdale6 wrote:
@Anonymous wrote:
How do you make a deposit if you don't live where there is a SDFCU?
@Red1Blue wrote:
Yes.

You have to set up ACH transfers between your existing bank accounts and them or mail them a check for deposit to your savings

Or another option is all Credit Unions use some thing called Share Branch Banking. You can go to any of your local credit unions in your neighbourhood and ask them you want to deposit into your SDFCU Savings account. They will be glad to do the deposit into your savings account in SDFCU. If you do cash deposit then the funds are available immeadietly in your SDFCU account. After that call the SDFCU and ask CSR to requst the secured card or secured card CLI. I have done it so many times. Keep in mind SDFCU secured card might graduate in 12 months. Also they do not charge foreign transction fees. That is reason I choose that card. All the best.

Another thing. Recently SDFCU started accepting funds transfer using the Zelle. If your bank supports Zelle you can setup Zelle transfer to SDFCU account. ACH they will put a 7 day hold. But Zelle the funds are available immeadietly.

Re: Half approved to SDFCU ?!

Anonymous — Tue, 07 Jul 2020 22:44:41 GMT

I was thinking about depositing a check on the mobile app. But the idea of going into my actual credit union and asking them to deposit is better

Re: Half approved to SDFCU ?!

Red1Blue — Tue, 07 Jul 2020 22:46:12 GMT

@Anonymous wrote:
I was thinking about depositing a check on the mobile app. But the idea of going into my actual credit union and asking them to deposit is better

You can also do Zelle transfer. SDFCU is part of Zelle network. Either way the funds are available immeadietly.

Re: Half approved to SDFCU ?!

Anonymous — Tue, 07 Jul 2020 22:50:27 GMT

Gonna try it

Re: Half approved to SDFCU ?!

Red1Blue — Tue, 07 Jul 2020 22:56:16 GMT

@Anonymous wrote:
Gonna try it

Good Luck. Credit Unions are conservative. SDFCU does not like asking frequently for CLI by adding funds to your account. They prefer 2-3 times a year. So make sure you put enough money that you need to use your card comfortably into your savings and ask them for the Card. Merrick and OpenSky I could send CLI deposit every other week and they did not mind. SDFCU almost chopped off my head when I asked them third time for secured CLI. I guess it is the CU culture. It is a good card to get it. All the best.

Re: Half approved to SDFCU ?!

Anonymous — Tue, 07 Jul 2020 22:59:54 GMT

I don't plan to ask for any cli until the card graduates , I'm going to put $2000 on the card and forget about cli.

Re: Half approved to SDFCU ?!

Red1Blue — Tue, 07 Jul 2020 23:06:05 GMT

@Anonymous wrote:
I don't plan to ask for any cli until the card graduates , I'm going to put $2000 on the card and forget about cli.

That is good. My card is at $2500 and I was hoping to boost it to $10,000 limit as I used to travel internatinally before covid and this card would be useful with out FT fees. Once they barked for CLI, I stopped at $2500 and gave up. I am going to let card graduate and then decide. Also with large secured card it might be tough to graduate. They claim we can have upto $100,000 in secured card limit. That is the only CU/Bank said that to me. All others cap at $5000 CL. It is a good card and good CU. You'll like it. Another thing to keep in mind. if you make payment using the ACH to your credit card they will hold the funds for 7 days after the funds cleared your bank. Keep that in mind when you are using the card. I believe after 12 months they will remove that restriction.

Re: Half approved to SDFCU ?!

Anonymous — Tue, 07 Jul 2020 23:14:35 GMT

That's good info ! I plan to leave money in the savings account so when the dude date comes I can hopefully simply transfer money from one account the other

Re: Half approved to SDFCU ?!

Red1Blue — Tue, 07 Jul 2020 23:19:31 GMT

@Anonymous wrote:
That's good info ! I plan to leave money in the savings account so when the dude date comes I can hopefully simply transfer money from one account the other

I tried that. They still put hold my account even though funds transferred from same bank. I would go with Zelle. Or just ask them and see what they suggest you to do if you want your funds available sooner. I gave up. I started spending about $400 a month and then sock drawer the card for the rest of the month. You can also ask them for credit life insurance. They normally recommened it. Which is good to have, incase of unexpected tough times like now. If you pay the balance in full before the statement cuts that insurance wont get charged.

Re: Half approved to SDFCU ?!

Papa_Bear — Tue, 07 Jul 2020 23:53:38 GMT

DW and I used Zelle for our deposits and our cards should arrive in 7-10 days.

Re: Half approved to SDFCU ?!

Red1Blue — Tue, 07 Jul 2020 23:55:38 GMT

@Papa_Bear wrote:
DW and I used Zelle for our deposits and our cards should arrive in 7-10 days.

How do you like your card so far ?

Re: Half approved to SDFCU ?!

Anonymous — Wed, 08 Jul 2020 00:03:59 GMT

You can use zele to deposit right into the credit card ? Or you need to put in the account first then transfer to the cc?