100 credit union journey any takers

[cem13]

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@Anonymous wrote:

Saw this thread and remembered about signing up for penfed CU 7/16/14, They gave me a restricted savings account =/ i have had 2500 sitting in the account since then and to be honest, just kind of forgot about it. Gave them a call to see what they could do to help me.  They unrestricted the account for me and while i was on the phone i inquired about credit products available to me. He was able to approve me for a visa rewards platnium signiture card with a 18,500 limit and open the checking portion of the account. They pulled equifax for me. Looks like i have a new card for gas

Thanks myfico :]

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@Anonymous, what are your stats please?

[Anonymous]

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@cem13 wrote:

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@Anonymous wrote:

Saw this thread and remembered about signing up for penfed CU 7/16/14, They gave me a restricted savings account =/ i have had 2500 sitting in the account since then and to be honest, just kind of forgot about it. Gave them a call to see what they could do to help me.  They unrestricted the account for me and while i was on the phone i inquired about credit products available to me. He was able to approve me for a visa rewards platnium signiture card with a 18,500 limit and open the checking portion of the account. They pulled equifax for me. Looks like i have a new card for gas

Thanks myfico :]

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@Anonymous, what are your stats please?

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My fico scores are as follows...
 Transunion 723 experian 721 equifax 659, income 110,000 yearly 49k in available credit, 5% util oldest account 13yrs average 1.6

They pulled equifax, While its my lower of scores i was thinking maybe i was approved because i opened the account middle of last year and had some cash sitting in it.

No clue, but happy none the less.

Ryan

[Chilli]

Langley FCU

i joined and it was a hard pull on EQ just to join...your report is good for 30 days.

I was told since my scores are good, I was told what my apr for a CC was...8.5%...even with my BK. well, my app went to the lending team and the reason for my denial was I have "too much available credit"...even tho my income supports it and my scores are decent. They like to see lower CC limits on your cards...I guess they want to make sure they are number one. They also mentioned that a 25k cl on a cc is very high for unsecured credit.

I also want to mention, it took them almost the entire week to process my membership application because they needed to verify my identity and address😧...I got a call from the manager of the fraud department who told me he's an ex/retired FBI agent.😱...asking a lot of irrelevant questions that could have been verified another way.

Anyway, my membership was approved but only after many phone calls and hours of holding on the phone.

They claim they are bankruptcy friendly and have easy lending criteria as long as your scores are "above 600"...😏

[Anonymous]

Just opened an account with SDFCU 3 day's ago and applied for their Visa requesting a 15k CL. They sent me the "truth in lending" paperwork to sign showing 15K CL at 6.9% APR for both purchases and cash advances. I haven't used much credit the last 7 - 8 year's and have very few accounts showing, none with high CL. They pulled EX. I haven't actually received anything saying I was approved, but I did have to sign that paperwork, send last 2 pay stubs, and copy of DL, so hoping I'm in.

[cem13]

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@Anonymous wrote:
Just opened an account with SDFCU 3 day's ago and applied for their Visa requesting a 15k CL. They sent me the "truth in lending" paperwork to sign showing 15K CL at 6.9% APR for both purchases and cash advances. I haven't used much credit the last 7 - 8 year's and have very few accounts showing, none with high CL. They pulled EX. I haven't actually received anything saying I was approved, but I did have to sign that paperwork, send last 2 pay stubs, and copy of DL, so hoping I'm in.

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SDFCU took 2 weeks to process my "Instant Approval".  I had to "docusign" 2 applications and another week to get the card.  I am at 10K SL is what I asked for.  I should have asked for more.  No documents required from me, just the normal identity questions; all performed on-line without speaking to a CSR.

Overall a nice CU to belong to.  I just hope the CLIs come fast and furious.

[Anonymous]

cem13, thank you. I'm glad you posted. I won't be expecting anything now for awhile. I had absolutely no idea what their process was like. I never received any type of "instant approval". I filled out the app and the following day received the DocUsign papers and sent copies of my pay stubs. The next day they requested a copy of my DL "for their records". I haven't heard anything since. When did you know you were definitely approved ?? I read another post whereby the OP received the DocUsign paperwork, gave them pay stubs and everything else they requested, and than was declined about a week later, with no offers for lower CL or anything. The OP was pissed for wasting so much time. I'm hoping that's not my experience. The DocUsign paperwork and "truth in lending" they sent me showed me a 15K CL at 6.9% APR and my EX FICO score of 790. Was there a webpage or phone number to call to check status ??? Thanks.

[cem13]

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@Anonymous wrote:
cem13, thank you. I'm glad you posted. I won't be expecting anything now for awhile. I had absolutely no idea what their process was like. I never received any type of "instant approval". I filled out the app and the following day received the DocUsign papers and sent copies of my pay stubs. The next day they requested a copy of my DL "for their records". I haven't heard anything since. When did you know you were definitely approved ?? I read another post whereby the OP received the DocUsign paperwork, gave them pay stubs and everything else they requested, and than was declined about a week later, with no offers for lower CL or anything. The OP was pissed for wasting so much time. I'm hoping that's not my experience. The DocUsign paperwork and "truth in lending" they sent me showed me a 15K CL at 6.9% APR and my EX FICO score of 790. Was there a webpage or phone number to call to check status ??? Thanks.

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My "instant approval" was followed up with the docusign paperwork; the SL and APR was listed on the truth-in-lending documents.  I then logged into my account to see the CC listed.  

Did you log into your account yet? 

[Chilli]

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@Chilli wrote:

Langley FCU

i joined and it was a hard pull on EQ just to join...your report is good for 30 days.

I was told since my scores are good, I was told what my apr for a CC was...8.5%...even with my BK. well, my app went to the lending team and the reason for my denial was I have "too much available credit"...even tho my income supports it and my scores are decent. They like to see lower CC limits on your cards...I guess they want to make sure they are number one. They also mentioned that a 25k cl on a cc is very high for unsecured credit.

I also want to mention, it took them almost the entire week to process my membership application because they needed to verify my identity and address😧...I got a call from the manager of the fraud department who told me he's an ex/retired FBI agent.😱...asking a lot of irrelevant questions that could have been verified another way.

Anyway, my membership was approved but only after many phone calls and hours of holding on the phone.

They claim they are bankruptcy friendly and have easy lending criteria as long as your scores are "above 600"...😏

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UPDATE: I received a call from Langley this morning...the credit analyst told me my CC app was approved for 5K...apr 9%...😮 I'm floored...yesterday, I was told it was declined! She said, "no, we don't like to decline our members...we try our best to work with them...." Weird but ok. I was told if I get my scores to 710 they will reduce APR by 2 points.  Ok.

so, they are BK friendly they are just a little strange. Lesson| You need to have a little patience with this one.

[Anonymous]

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@cem13 wrote:

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@Anonymous wrote:
cem13, thank you. I'm glad you posted. I won't be expecting anything now for awhile. I had absolutely no idea what their process was like. I never received any type of "instant approval". I filled out the app and the following day received the DocUsign papers and sent copies of my pay stubs. The next day they requested a copy of my DL "for their records". I haven't heard anything since. When did you know you were definitely approved ?? I read another post whereby the OP received the DocUsign paperwork, gave them pay stubs and everything else they requested, and than was declined about a week later, with no offers for lower CL or anything. The OP was pissed for wasting so much time. I'm hoping that's not my experience. The DocUsign paperwork and "truth in lending" they sent me showed me a 15K CL at 6.9% APR and my EX FICO score of 790. Was there a webpage or phone number to call to check status ??? Thanks.

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My "instant approval" was followed up with the docusign paperwork; the SL and APR was listed on the truth-in-lending documents.  I then logged into my account to see the CC listed.  

Did you log into your account yet? 

Yes I've, logged in numerous times hoping to see the account added to my SAV & CHE, but see nothing. I didn't receive any instant approval either when I initially applied or after signing the DocUsign paperwork. So I have no idea yet whether I was approved or not. I guess I could call um. 

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[woodyman100]

I loved this thread and i'll bring it back to life as the 100th poster.

How have you done with it Baller?