DCU instant approval refi

[Anonymous]

After reading positive reviews both here and in my googling I decided to give Digital Credit Union a shot.  I knew I wanted to refinance my BMW as when I purchased it my credit wasn't great as it was before I discovered this forum.  So, I went threw the membership stuff earlier today and made my $10 donation.  I received my confirmation a few minutes ago that my membership was approved and decided to go ahead and apply for the Refi on my car to see what they would come back with.  After entering all the info and letting the little thing spin for about 10 seconds it came back with an instant approval for the full $30,500 I requested at a rate of 2.24% which while it isn't the bottom rate is leaps and bounds above the 9.5% rate that I received from BMW and is lowering my payment almost $80 a month.  As a bonus at the bottom of the approval page it informed me I was pre-approved for one of their low interest credit cards with a $2,300 SL at 11.99% interest.  I opted to accept that as I understand they offer great balance transfers from time to time and that would be very helpful.  I truly appreciate everyone here as in just over a month I've boosted my scores 25 points basically across the board and now lowered my car payment a substancial amount.

[StartingOver10]

Awesome! Congratulations on both approvals!

[elim]

hey that should save a few K... congrats

[Anonymous]

That's great!  How long was your loan for?

Did they HP you? And if so, from where?

[Anonymous]

Congrats! Still waffling on doing the same on DH's car. He needs some more utilization padding, so the fact that they offered you a nice CC as well leads me to lean that way even more. 

[Anonymous]

I believe my existing bmw loan is 72 months and I went down to 65 months and still saved money. I had an alert this morning for a single HP on Equifax but that could of been the necessary one for membership. We will see if I get another alert in the next few days or if I was lucky enough to get in, get my refi, and get the CC on that single pull. I am very impressed with the completely automated system. For the first time ever I had to submit proof of income which I can understand with it being my only dealing with them and I was able to submit it completely online. I will most likely be trying to refinance my personal loan with them and possibly my private student loan as both of those have 10% interest as well

[kenspi67]

awsome .. i was just denied by DCU, but ended up refinancing w another credit union .. I bought my 2015 Jeep April 13th, made two payments at 10.2%, refinanced last week at 5.25% .. Another 12 months I will reapply to DCU

[Anonymous]

Thought I'd post an update and let everyone know that the loan agent called today and informed me that as long as I set up direct deposit for the account I would qualify for the 1.74% rate that is the minimum they advertise. I of course agreed and everything was handled. After all was said and done it came out to 499 and some change monthly, a saving of $70 a month. My credit card was also closed on and the info sent for the card to be issued. Waiting on a phone call about my motorcycle refi as it wasnt an instant approval and depending on that goes I will probably move one of my 2 personal loans to them that I owe about 4K on at a 10% rate

[Anonymous]

Congratulations!!!! Did you ask DCU what your score was to get that rate? 

[Anonymous]

Dumb question time - I've looked into DCU before and I can't seem to figure this out. Everyone says "anyone can join DCU" but what exactly is the "in" that qualifies you? With SDFCU for example, their "in" is joining ACC. So what exactly is the "in" with DCU?

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@Anonymous wrote:

After reading positive reviews both here and in my googling I decided to give Digital Credit Union a shot.  I knew I wanted to refinance my BMW as when I purchased it my credit wasn't great as it was before I discovered this forum.  So, I went threw the membership stuff earlier today and made my $10 donation.  I received my confirmation a few minutes ago that my membership was approved and decided to go ahead and apply for the Refi on my car to see what they would come back with.  After entering all the info and letting the little thing spin for about 10 seconds it came back with an instant approval for the full $30,500 I requested at a rate of 2.24% which while it isn't the bottom rate is leaps and bounds above the 9.5% rate that I received from BMW and is lowering my payment almost $80 a month.  As a bonus at the bottom of the approval page it informed me I was pre-approved for one of their low interest credit cards with a $2,300 SL at 11.99% interest.  I opted to accept that as I understand they offer great balance transfers from time to time and that would be very helpful.  I truly appreciate everyone here as in just over a month I've boosted my scores 25 points basically across the board and now lowered my car payment a substancial amount.

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