Alliant CU

[Anonymous]

I'm planning to join Alliant CU. At first, I plan to just open a savings account, with plans to open high rate checking and (hopefully) a credit card when a good offer comes along.

I am currently paying down my revolving debt significantly and expect a 20-50 point jump in the next few months. Does it make sense to hold off on applying for membership until I see the changes reflected on my credit reports? I've read that they give you pre-qualified offers upon being accepted for membership. I just want to maximize my chances of getting the $50-80 checking bonus and the 30,000-50,000 cash back bonus on the card.

Would applying for membership now jeopardize my chances at a good credit card offer?

Thanks!

[Anonymous]

It is a SP for checking and savings. I recently joined and have no prequalified offers. I'm assuming perhaps next quarter. Hopefully someone with more experience can chime in. I'd say you're good to join now, though. 

[CreditMagic7]

Don't piddle around too very long pondering this and that but measure your credit profile carefully as well as conduct a forum SEARCH on data results and you might just find a very nice surprise after you join.

They are top level in my book bar none and customer service is solid too.

Don't worry about the preapprovals either. They will issue them appropriately on their own schedule if not up front first.

[Anonymous]

Thanks for the replies. I guess I'll bite the bullet later today and go for it.

[CreditMagic7]

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@Anonymous wrote:

Thanks for the replies. I guess I'll bite the bullet later today and go for it.

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Whoaa! Is that your current utilizations? I completely missed that OP.

Is that 60% AUGUST a goal? Or do you mean JULY?

You might FIRST want to drop that UTILITY percentage down a bit.

I have no idea how they might view HIGH Utility and wouldn't want to see you disappointed.

[Anonymous]

Well that's sort of the point. I'm not applying for credit. I was wondering if I should hold off on joining the CU at all until I am in a better position to apply for credit. Or if this would have no effect at all.

My reports show 95% right now. When my next statements cut it will show 60%. I'm hoping to be around 50% by the time I actually apply for something (within 6 months?) -- a balance transfer offer would help quite a bit.

[CreditMagic7]

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@Anonymous wrote:

Well that's sort of the point. I'm not applying for credit. I was wondering if I should hold off on joining the CU at all until I am in a better position to apply for credit. Or if this would have no effect at all.

My reports show 95% right now. When my next statements cut it will show 60%. I'm hoping to be around 50% by the time I actually apply for something (within 6 months?) -- a balance transfer offer would help quite a bit.

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I see.

At the very least it's in your best interest to hold off until 50-60% is reached before joining because most institutions will see maxed high utility as a sign of immediate potential default and is much easier for them to avoid offering decent terms if any at all.

Like i said i have no idea how they view that high of utility however once you're cut it drastically Alliant CU offers IMHO the best of BT Terms as in no BT Fee + 0% APR for a period of time which is something that you're looking to in order to help balance your profile out better.

[RonM21]

If you hold off, I don't think that would be a bad move. But I also think if you tried to get in now, that you really might now have much of a problem, being that you aren't applying for credit. YMMV though.

[gingerflower]

Who does Alliant Fcu pull for credit report?

[Gmood1]

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@gingerflower wrote:
Who does Alliant Fcu pull for credit report?

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They pull Equifax.