DCU

[AllZero]

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@Sitori wrote:

Hi 

I know this thread is a little old but I just wanted to ask about the DCU approval for auto.

my EQ mortgage 5 is 576, the others are 640. I don't know why that one is so much worse but I doubt I would get approved for the auto loan with that correct? 

my fico 8 EQ is 633, others are 644 and 636. 

why do they use the mortgage 5 for auto loan? 

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I'm not sure if EQ5 580 is minimum for membership or not. Best to call the csr and ask.

You can also ask what minimum is for auto loan.

https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/DCU-Application/m-p/5782693

[MASTERNC]

Anyone know what the current deal with the direct deposit "relationship" discount is?  When I last had a loan in 2015, it said they required deposit of "net" pay but didn't define what it was.  I set up a $300 direct deposit from my paycheck but found they had bumped my loan rate up because I didn't deposit my entire paycheck.  Now the website no longer says "net pay" but the loan rep yesterday said I needed to deposit "net pay". 

I have to deposit $1,000 in my current checking account to maintain a 1% credit card bonus and $900 in another to pay my mortgage.  I'm hoping they consider what's left (about $600 and change) sufficient "net pay" (and not sure how they'd know unless they thought it was too small relative to stated gross income).

[coldfusion]

By net pay they mean your entire pay. If at some point you've provided them POI then they already have a DP to work from, but if not there are also other ways for them to estimate with pretty good accuracy your likely income range.

I can't speak to how rigidly they enforce their net pay mandate.