Approved:677 DCU App

Anonymous · ‎02-01-2016

If i do the auto loan app, do i have to have a specific car in mind? Can I just app and figure out the new/used portion later?

I intend on trading in my car as well. Do they need that info now since i have no clue how much i'll be getting on my car vs what i owe?

677, approved for 33.2k.

2.74/65 months 3.74/65 both with DD ofcourse(guess I'll be using billpay alot)

EddieK · ‎02-01-2016

You don't have to have a specific car in mind, but you do want to know a good estimate of what amount you want to borrow. They will ask if you are trading in a vehicle, and that's to figure out how much you're borrowing and DTI. You can also do the app over the phone(that's the way I applied.)

Starting Scores:
1/19/14:
1/28/14:
2/12/14:
Current Scores:
7/10/19:
12/17/16:
9/05/17:

Anonymous · ‎02-01-2016

OK I'll probably call it in now then. My eq 5 is 677 which would get me "good" tier. Any idea if I should wait until the end of the month for 12 inq to age off? The downside is my uti would be around 12 at that time I think

EddieK · ‎02-01-2016

@Anonymous wrote:
OK I'll probably call it in now then. My eq 5 is 677 which would get me "good" tier. Any idea if I should wait until the end of the month for 12 inq to age off? The downside is my uti would be around 12 at that time I think

I'd only wait if you think your score will go up due to INQs falling off, but UTIL going up. 675+ is good for their best rates when I got my loan in October of last year so you're right above it right now, you'd be taking a chance your score would go below that at the end of the month.

Starting Scores:
1/19/14:
1/28/14:
2/12/14:
Current Scores:
7/10/19:
12/17/16:
9/05/17:

Anonymous · ‎02-01-2016

Edit: I apped shortly after posting. I wish it was their best rate now. 730+ is their best rate now, 729-700 next, then 675-699 according to the reps I spoke withe the other day.

Yeah I don't really know if they'll go up =( inq vs payment. Uti's low as it'll ever be. The inquires..I dunno how much they affect it. I'm thinking atleast 25 points(roughly the gap between tu and eq fico 8

cartwrna · ‎02-02-2016

They must have changed the guidelines. I got a 1.49% rate on both of my vehicles with them on 3/2015, with a score of 676! They're my primary bank now as well, checking/savings/DD etc.

Don’t take your credit for granted, use it with care! These days, catch me in the bankruptcy forum!?

cartwrna · ‎02-02-2016

Kuma, are you sure they didn't quote you their best rates for credit card APRs? Those scores seem to coincide with where they told me APR would be lowered on my DCU Visa. Have you called the bank directly to ask, or did you get their "loan processing center"? Those people don't know much about anything, I got stuck dealing with them once in March and ended up talking directly to the bank itself afterwards.

Don’t take your credit for granted, use it with care! These days, catch me in the bankruptcy forum!?

Anonymous · ‎02-02-2016

Well I called in total 4 separate times and they gave me the same answer each time , whether I phrased it as, what rate does this score get me, and what score is required for the third tier. Hey if their wrong I'll be over the moon and back. Definitely hope they are,(and that they approve me)
I'll be calling them in maybe an hour

Anonymous · ‎02-02-2016

Welp. Approved for 33k.(using 25 at most) for 2.74 over 65 months or 3.74 over 75 months. Score pulled 677. It sucks that they scores required changed so drastically, but it makes sense. This is more on the sensible side.
55+ point upshift in requirement sucks for me, but glad you guys got it. You live n you learn. =)