Questions on DCU.....

[reereetx]

I just applied to join DCU as a member and was accepted.  I thought I had read that they pulled a credit report just to apply for membership.  Is that true?  I was honestly thinking after I read that, that I would be declined.  Due to a tragedy in our family a few months ago, I was not in a good frame of mind and missed some credit card payments so I know my score is not very good.  Also, if I were to apply for an auto loan with DCU with far less than superb credit....but had a co-signer with good credit...any chance I'd be approved with a decent rate? 

[reereetx]

Thought of another question to add....if my auto payment history is good....what score do they use and will my chances be better at getting approved?  I'm just not sure what they look at and I have no idea what my actual scores are just yet.  I've read they pull EQ04...but what does that mean?  Is that an auto enhanced score?

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@reereetx wrote:

I just applied to join DCU as a member and was accepted.  I thought I had read that they pulled a credit report just to apply for membership.  Is that true?  I was honestly thinking after I read that, that I would be declined.  Due to a tragedy in our family a few months ago, I was not in a good frame of mind and missed some credit card payments so I know my score is not very good.  Also, if I were to apply for an auto loan with DCU with far less than superb credit....but had a co-signer with good credit...any chance I'd be approved with a decent rate? 

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[Atonswife]

Hi...
DCU checks EQ Fico 5 aka EQ04...it's the score mostly used for mortgages. For memberships , I believe they are mainly concerned about any negative items on chexsystems. If that's clear then you're good for membership. For loan/credit products they check the actual credit report-EQ04. To get the best rate for an auto loan you have to have a min of 675. For a personal loan 730. I'm not sure about the actual credit cards but I was approved for their regular Visa card @ 11.50% when I did my auto refinance with a EQ04 score of 688. I just did this in May so my info is pretty much recent.

[reereetx]

Thanks for the info.  So the score they check is not an "auto enhanced" I take it.  I actually applied on my own and was declined.  Of course I have to wait for the letter as to why.  Are there any lenders out there that are known to pull the "auto enhanced" score?  I know that I won't be approved with my regular score without a good co-signer....but I'm trying to get approved on my own.  My auto enhanced I would think would be higher as those payments are always on time.