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AOD FCU Denial 685 FICO 5 Thin File Recent Delinq

repetea
Valued Member

AOD FCU Denial 685 FICO 5 Thin File Recent Delinq

Hi all,

 

I had my hopes up for getting the AOD signature with a 685 eq FICO 5 score which is high compared to my other scores. Turned out the underlying reasons for my other scores being lower caused AOD to deny. Has anyone had any recon success with them?

Message 1 of 21
20 REPLIES 20
Hut1
Frequent Contributor

Re: AOD FCU Denial 685 FICO 5 Thin File Recent Delinq

Recon succes has only been for increased credit limits, not for an outright denial. Sorry. 







Message 2 of 21
Eagered2succeed
Frequent Contributor

Re: AOD FCU Denial 685 FICO 5 Thin File Recent Delinq


@repetea wrote:

Hi all,

 

I had my hopes up for getting the AOD signature with a 685 eq FICO 5 score which is high compared to my other scores. Turned out the underlying reasons for my other scores being lower caused AOD to deny. Has anyone had any recon success with them?


Only recon success I saw was to add a co signer. They also were denied do to their dti. I think the recent delinquency scared them especially this late in the app train(been almost a month since they've started getting flooded with apps). Trying to recon doesn't hurt as you've already taken the hard pull. Good luck on whatever you decide to do.

Message 3 of 21
AllThingsInTime
Established Contributor

Re: AOD FCU Denial 685 FICO 5 Thin File Recent Delinq


@repetea wrote:

Hi all,

 

I had my hopes up for getting the AOD signature with a 685 eq FICO 5 score which is high compared to my other scores. Turned out the underlying reasons for my other scores being lower caused AOD to deny. Has anyone had any recon success with them?


@repetea Sorry to hear about your denial.

Keep your chin up, though. Just because

you were denied this time doesn't mean

you can't try again down the road. AOD is

growing, so if you can at least get a checking

and savings account with them and begin to

establish a good relationship, your prospects

for approval should improve over time. 

 

P.S. AOD offers a no AF share secured card that pays

1% on all purchases and 2% on gas/restaurants.

Would suggest trying this avenue and then hopefully

being upgraded to an unsecured cash back card over time:

 

https://www.aodfcu.com/personal/credit-card-visa-platinum-share-secured/

 

Message 4 of 21
EverForward
Established Contributor

Re: AOD FCU Denial 685 FICO 5 Thin File Recent Delinq

@repetea Sorry to hear about your denial... 

 

@AllThingsInTime I have also been thinking about the AOD Share Secured card.  I too have a thin file, additionally I have newer revolvers, 1+ year post Ch7, self employed, so wasn't nearly confident enough to apply for the 3% Signature card.

 

I had not seen any conversations, or other apps for the Shared Secured card it but sure looks like a good foot in the door card to AOD.  They sound like a great CU.

 

I am doing the same with NFCU and my nRewards card, which I anticipate will graduate in 4+ months.  

Message 5 of 21
AllThingsInTime
Established Contributor

Re: AOD FCU Denial 685 FICO 5 Thin File Recent Delinq

@EverForward  The AOD Share Secured Card has another hidden advantage:

the APR is a fixed rate of 7.49%. Take a look at the first page of AOD approvals

and you'll plainly see that you need a mid-700 EQ5 to qualify for the same rate

on an unsecured card. With $300 and a secured card, you get the same result. Smiley Very Happy

 

In addition, the same 7.49% APR is available for purchases, balance transfers

and cash advances. If you've ever had a secured card, you know cash advance

fees and APRs are outrageous. This feature alone sells the secured card. Smiley Very Happy

 

Way back in the day I started with a USAA secured card. It didn't graduate to unsecured,

but what it did do is help me establish credit and open doors down the road. As a result,

AOD just gave me a $5,000 unsecured card and a $5,000 personal loan. The key is not 

to worry about what you can't do; just focus on what you can do. Start from where you are. Smiley Very Happy

 

If you do decide to get the AOD secured card, please take some time to share with us.

You're right: We don't have any data points for the secured card. Folks like you can still

be part of the Anniston Tidal Wave. But you'll start at the base of the wave and eventually

you can work your way up to its peak. Keep your head up!!! Smiley Very Happy

 

Edit: The APR for the AOD secured card is now 7.2%. Thanks @Saeren  for the correction. Smiley Very Happy

Message 6 of 21
EverForward
Established Contributor

Re: AOD FCU Denial 685 FICO 5 Thin File Recent Delinq

Thank you @AllThingsInTime !!!  Even my $300 NFCU nRewards is 18%... I PIF so no harm.  I use my $500 Cap1 more often as it has more capacity to cover my shopping at SamsClub, then I leave $10-20 on the card at statement cut so I'm <3% debt.  

 

I'd kinda like to get one more card to strengthen my revolver profile.  I'll likely wait 4+ months before I ask NFCU for a 2nd card, I'll let my nRewards auto graduate, whenever, but I was thinking maybe a $500 AOD Share Secured card might strenghen my thin profile.

 

My other FI, 1stBank, has a securd card program, not keen on them right now, and pondering on making a switch, maybe BOA.  They have a secured card program too , but havn't betting AOD is a safer bet, not sure.

 

Thank you for the support, I do realize this is a long game, getting closer to making a decision.

Message 7 of 21
Saeren
Mega Contributor

Re: AOD FCU Denial 685 FICO 5 Thin File Recent Delinq


@AllThingsInTime wrote:

@EverForward  The AOD Share Secured Card has another hidden advantage:

the APR is a fixed rate of 7.49%. Take a look at the first page of AOD approvals

and you'll plainly see that you need a mid-700 EQ5 to qualify for the same rate

on an unsecured card. With $300 and a secured card, you get the same result. Smiley Very Happy

 

In addition, the same 7.49% APR is available for purchases, balance transfers

and cash advances. If you've ever had a secured card, you know cash advance

fees and APRs are outrageous. This feature alone sells the secured card. Smiley Very Happy

 

Way back in the day I started with a USAA secured card. It didn't graduate to unsecured,

but what it did do is help me establish credit and open doors down the road. As a result,

AOD just gave me a $5,000 unsecured card and a $5,000 personal loan. The key is not 

to worry about what you can't do; just focus on what you can do. Start from where you are. Smiley Very Happy

 

If you do decide to get the AOD secured card, please take some time to share with us.

You're right: We don't have any data points for the secured card. Folks like you can still

be part of the Anniston Tidal Wave. But you'll start at the base of the wave and eventually

you can work your way up to its peak. Keep your head up!!! Smiley Very Happy


The share secured card is actually even lower at 7.2% fixed. Smiley Wink





Message 8 of 21
EverForward
Established Contributor

Re: AOD FCU Denial 685 FICO 5 Thin File Recent Delinq

@Saeren @AllThingsInTime OK, I spoke with Kim at AOD, very nice lady, such a nice change of pace compared to the last banker I spoke to at 1stBank.  A lot of paperwork, but think I'll give it a try.  I asked about requirements for us self-employed folks and she said they'd let me know.  She said they do have extensive business offerings, which I am pleased, and that I could talk to Tony for more information.  I will probably begin my app later today knowing I'll likely not hear back until Monday.

Message 9 of 21
AllThingsInTime
Established Contributor

Re: AOD FCU Denial 685 FICO 5 Thin File Recent Delinq

@EverForward  Thanks so much for the rapid reply. I'm glad you took action! Smiley Very Happy

 

Once you're approved, please take a moment to post your data points.

The more avenues for AOD success, the larger the Anniston Tidal Wave

will continue to grow. And as I stated earlier, the secured card has almost

all the same features as AOD's unsecured cards. The only difference is the

security deposit, but among the many rewards is a fixed 7.2% APR. 

Thanks again! Smiley Very Happy

Message 10 of 21
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