Experience with DCU?

[ezdriver]

Most lenders would prefer not to deal with 1099s and commissioned folks. I am 100% commissioned against a draw and I have a hard time whenever I apply for any financing. I could have $50k in my commission pipeline for 1st quarter of the year and the lenders don't want to consider that income until it is all paid 6 monts later. What a pain!

[Anonymous]

Was approved for auto loan and credit card in 1 day. I have struggled for years to get my credit on track and hopefully I am there. Thanks to all for mentioning DCU on this board, this is how I found them. DCU is the best!!!

[Anonymous]

DCU flat out denied me because of a 5yo charge off and a 5 year old paid for less than full amount, plus an unpaid tax lein.

Capital One gave me their lowest rate , 1.99 for 72mos, nothing down, no proof of anything.

Looks like you have to be squeaky clean to get a DCU approval.

[Anonymous]

I just refi'ed my auto with DCU and it was instant over the phone pending pay stubs, auto reg, drivers license.

$27,800 at 1.74% as long as i deposit my net pay check to them.

They also instantly approved me for a $5,000 limit DCU Plantium Visa at 8.5%.  I told them i would be interested if it was a $20,000 limit.  They countered at $15,000.  

I'm a happy camper!!!

[BallBounces]

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@Anonymous wrote:

DCU flat out denied me because of a 5yo charge off and a 5 year old paid for less than full amount, plus an unpaid tax lein.

Capital One gave me their lowest rate , 1.99 for 72mos, nothing down, no proof of anything.

Looks like you have to be squeaky clean to get a DCU approval.

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I spoke with a loan officer at DCU.  I do not have a clean record, and have a "low average" score.  My baddies lead to instant denial as well.  The loan office indicated scores reflect more on rate than approval.  I agree that it currently appears they are not approving loans with blemished credit, even if improving and aged.  It appears DCU is a fine option for clean sheets.  

[Anonymous]

I joined late last month. I had a refi to 3.99.

I have a foreclosure and a repo on my file along with a few other baddies. Definitely not squeaky clean.

They also preapproved me for a card but I didn't accept because I didn't want to hurt my AAoA too much right now.

YMMV as always

[Anonymous]

Joined last month and refinanced my BMW from 9.5% to 1.74%.  All I had to send in was proof of income and the refi document.  Also, to quaify for the relationship benefit they say you have to direct deposit your net income but I have learned that as long as $500 a month is direct deposited in the account that it passes the requirement.

[BallBounces]

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@Anonymous wrote:
I joined late last month. I had a refi to 3.99.

I have a foreclosure and a repo on my file along with a few other baddies. Definitely not squeaky clean.

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How old?

[Anonymous]

2013

Everything paid. 70k income. AAoA around 5 years. Oldest account on file ten years. Have some paid as agreed auto loans on my file too

[BallBounces]

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@Anonymous wrote:
2013

Everything paid. 70k income. AAoA around 5 years. Oldest account on file ten years. Have some paid as agreed auto loans on my file too

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Interesting.

I have no repos.  AAoA over 8 years.  Oldest Account 22 years.  3 Paid as agreed prior  auto loans. No foreclosures.  And scores very close to yours.  Higher income (with really low DTI).

I also have a ton of lates and a recent (<2 years)  C/O.  Denied. 

The officer I spoke with said if based on scores and income, I would have been approved.  But the "recent"  baddies were a stark no go.  He also happened to say "You have 3 new CCs in the last 6 months".