Having second thought about DCU

[ah32]

So, I decided to sign up for a DCU account based on the fact that I don't qualify for NFCU. I would if my dad would apply, but he's not interested. So, they pull equifax and I'm in the process of getting my documents verified. I'm not sure why I bothered. Equifax is my lowest score and by almost 80 points. Should I continue with the process? My score is a paltry 533 fico 8. I am hoping to get an auto loan and the only loan I had (that was paid off and never late) isn't reporting to Equifax.

[EddieK]

Unless you want another HP, I wouldn't apply for the car loan.  But you might as well keep the membership if it gets approved.  They've most likely already pulled your report and you can start building your relationship with them and when your scores improve, you'll be golden for a great interest rate on your next car.

[ah32]

I think that's what I'll do. I know they won't approve my Equifax score. I'm going to end up with a higher interest rate, but maybe DCU will refinance down the road. My auto enhanced score is 655 on Transunion. I'm looking at a Honda or Toyota. I'll buy my Experian score tomorrow and I expect it to be close to Transunion. Should I go to both dealerships and see who will give me the best offer? If I apply within a short period, they should all be looked at as one inquiry.

[EddieK]

I wouldn't let two different dealerships spray my app out to whoever.  Honda/Acura pulled EX the one time I financed through them, and from what others state on here Toyota uses TU.  I'd be more apt to try Cap1's blank check in your situation before I went to the delaership so that you come in with an approval, which will give you a much better negoatiating position.

[pipeguy]

If I were you I'd keep the DCU account open, even with just $5 parked in a saving account - they are fantastic once you build a relationship with them and the $5 "investment" will be golden in a year or so when you want to do more with them like a CC or car refi. 

I have several credit unions where I have a small amount of money just "parked" (NASA, Congressional FCU) but DCU is my primay go to right now - used to be PenFed where I/we have belonged for 40 years, but a couple of years ago they went kind of out of favor with us even though I still have a second mortgage there (PenFed) I don't use them for much of anything. 

I really don't want to sound like a paid ad for DCU, but they really are that good for credit products like auto loans and their Credit Card.

[Anonymous]

Toyota doesn't always pull transunion, in fact they mostly pull experian but depends by location (west, southeast, etc). Honda/Acura pulls experian but also pulls equifax (midwest, southeast.)