Any recent DPs on LMCU?

[Ficoproblems247]

I'm a member of Lake Michigan Credit Union. They are a larger local credit union that services the lower peninsula of MI, as well as FL. (Guess they have a thing for peninsulas) Older posts suggest they pull TU FICO 9 for their apps but these posts are from years back and I cannot find anything recent. I was thinking about going for the Prime Platinum VISA when my scores are higher in a couple of months. When I load up the app it states the data will be obtained from EX. Just wondering if anyone around here had any recent experience with apping a card from them, or any of their other products for that matter. I've been a member since '12, I have checking, savings, and a paid off mortgage through them. 

[Curious_George2]

I don't have any experience with LMCU, but it looks like the best thing about that card is its low APR of Prime + 3.0%. If you're looking for a low APR card from a CU, you might want to check out Dow Chemical Employees CU. (Coincidentally also based in Michigan, but not geo-fenced.) They have a pair of interesting cards.

I got their Low Rate Visa, which has a 6.9% fixed APR. For the SL, they asked over the phone how much I wanted. I was surprised by the question so I said "um... uh... $10k?" and that's what I got. I think legendary APR hound @galahad15 found that they were sensitive to new accounts. I had all my reports frozen at the time of the app and I planned to unfreeze the one they needed. I think they told me the would pull TU, so I unfroze that one but maybe the timing was off because they never actually HP'ed it, or any others.

DCECU also offers a Rebate Eligible Visa that has an 8.9% fixed APR, but participates in the CU's intriguing interest rebate program. That seems like a throwback to a bygone era, and I would say the whole credit union has a charming time-capsule quality to it. It's small, conservative, and member-focused. I have been impressed by the customer service so far. Good luck!

[Ficoproblems247]

Thanks for the good advice and references! All of my cards are rewards focused and I PIF on all of them so interest is of no concern. I want to add a low interest card to my mix in case I need to make a purchase that requires carrying a balance for a period of time and do not have quick access to any 0% APR promos/BT offers on any other cards. I targeted this card because I am already a member there and have been nothing but pleased with them as a FI so far, and would love to give them the business. 

[Curious_George2]

Makes sense. I'm in total agreement about the wisdom of having a low-APR card in one's portfolio. 

I just noticed that @Anonymous mentioned the LMCU cards over in the Ugly Cards thread in Smorgasboard. Maybe that user has info about the one you are considering.

[Anonymous]

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@Curious_George2 wrote:

Makes sense. I'm in total agreement about the wisdom of having a low-APR card in one's portfolio. 

I just noticed that @Anonymous mentioned the LMCU cards over in the Ugly Cards thread in Smorgasboard. Maybe that user has info about the one you are considering.

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@Curious_George2   I knew they had what I considered ugly cards.  About 2 years ago I was browsing through their cards.  The DPs from this forum suggest they are extremely conservative.  I remember reading about someone saying just applying for a credit card was like a mortgage application.  That was a major turn off so I never applied.  I don't remember seeing an approval in a very long time from anyone.  Unfortunately I can't offer any help with personal experience other than things I've read.

[Ficoproblems247]

LOL, they absolutely are ugly cards. 😂 l only have the debit card. Their website is transparent in the sense that it literally lists that you need a "credit score of 760" to qualify for best rates. This leads me to believe that if you meet the scoring criteria that underwriting could work with you on how they approve the SL and other things. I used them for my mortgage and was thrilled with how they handled the process. Maybe I'll shoot my original LO an email and just ask him if he has the inside scoop. He was a nice enough guy, don't think he would mind taking a few minutes to fill me in. I just want to know WHICH score I need to get above 760 because that could certainly make quite a difference. I'll make sure I share all my DPs with the group should I decide to go for it. Thanks, guys!