Consumers CU denied with 778 FICO

[core]

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@mitchblue wrote:

I guess I don't understand why it's bad they look at available credit? Seems responsible..

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Sure, but they didn't say I had too much available credit.  Their complaint was I wasn't using hardly any of it.  That's different.  Also let's not forget the first reason they stated: That INQ from another credit union.  Apparently they don't want folks to have credit union share accounts anywhere else.  This is smart on their part, because when the consumer doesn't have options he is easier to screw over.

[mitchblue]

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@core wrote:

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@mitchblue wrote:

I guess I don't understand why it's bad they look at available credit? Seems responsible..

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Sure, but they didn't say I had too much available credit.  Their complaint was I wasn't using hardly any of it.  That's different.  Also let's not forget the first reason they stated: That INQ from another credit union.  Apparently they don't want folks to have credit union share accounts anywhere else.  This is smart on their part, because when the consumer doesn't have options he is easier to screw over.

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Okay I guess I misread.

[sillykitty1]

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@core wrote:

I have been a Consumers CU member for about 3 years and keep 3-5k in my account at all times.  I applied for the CCU Signature Visa to have a 3% grocery card.  I used the klunky web application and asked for $5k.

TU FICO '08 was 778, 3 INQs on TU (1 on the last 6 months), and only 1 new account in the past 6 months, which was Penfed.  Yes Penfed, the CU that has probably denied the Pope a card at some point.  But Penfed had no problem approving me.

A day after the app I get an email saying I was denied and I'd get a letter.  The day after that I get an email from a different person asking for a phone number so we can proceed with the app.  (Ummm, ok, that's weird?)  So finally a couple days later she calls me back.

She said they are unable to approve me for any card for any limit.  I asked why.  "Well we saw the inquiry yesterday from Fort Knox.  Also you have a lot of credit cards but don't have high balances".  Sheesh.  ONE inquiry from another credit union and they are all pissy.  And I guess they like people who max out cards.

I am speechless.  And I thought Penfed was bad.  If this is the way CCU treats existing members I'd sure hate to apply cold.

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I'm surprised ... I was approved for a Consumer CU cc in October .  My scores were slightly lower, had a few TU inq, and and over 100K in credit.  They granted me a $20K CL, which was the highest line visible on my TU.  I wonder what they saw in your profile they didn't like vs. mine?

[core]

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@sillykitty1 wrote:
I'm surprised ... I was approved for a Consumer CU cc in October .  My scores were slightly lower, had a few TU inq, and and over 100K in credit.  They granted me a $20K CL, which was the highest line visible on my TU.

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What kind of balances were you showing on TU at the time?  For me, unfortunately I only had one card showing a balance of like $40.  And were you applying for the 3% cash back card, or another card that was going to be profitable for them no matter how you used it?

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@sillykitty1 wrote:
I wonder what they saw in your profile they didn't like vs. mine?

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If their statements are taken at face value, the Egyptian Magician excuse, pyramiding debt. And the fact that it's obvious from my report that I have many credit union accounts and had just applied for another one a couple days before I applied here. No loyalty from me. They are a jealous girlfriend. I still find it odd that they mentioned that one inquiry specifically by name. When she said "Fort Knox" I thought she was going to choke on her own tongue trying to get the words out.But other possibilities: 1) With all the other cash back cards I have, and the fact that I only requested a 5k limit, it should have been obvious to them that I was only going to use their card in the 3% category. They would have lost money on me. 2) They didn't like the fact that they're paying me 3.09% interest on my checking balance but I hardly ever use that checking account.If either of the alternate explanations is the reality though, then why lie to me?

[sillykitty1]

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@core wrote:

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@sillykitty1 wrote:
I'm surprised ... I was approved for a Consumer CU cc in October .  My scores were slightly lower, had a few TU inq, and and over 100K in credit.  They granted me a $20K CL, which was the highest line visible on my TU.

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What kind of balances were you showing on TU at the time?  For me, unfortunately I only had one card showing a balance of like $40.  And were you applying for the 3% cash back card, or another card that was going to be profitable for them no matter how you used it?

I was probably showing $4K-$6K on TU.  I don't micromanaged my util, so I generally just let my balances post, unless it's close to a CL.  Yes, it was the Rewards Cashback card, to pair with the checking account for the 5.09% APY.  

I agree that it might be they want to see use/profit on their cards.  The only question I was asked was what my average monthly use is on my cc's.  My use is high for my income because of reimburseable travel.  Little did they know I would only use the card for 3% and the checking APY.

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@sillykitty1 wrote:
I wonder what they saw in your profile they didn't like vs. mine?

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If their statements are taken at face value, the Egyptian Magician excuse, pyramiding debt. And the fact that it's obvious from my report that I have many credit union accounts and had just applied for another one a couple days before I applied here. No loyalty from me. They are a jealous girlfriend. I still find it odd that they mentioned that one inquiry specifically by name. When she said "Fort Knox" I thought she was going to choke on her own tongue trying to get the words out.

The only other CU I had showing on TU was OCCU, so yeah they may want to be your only or almost only CU.

But other possibilities: 1) With all the other cash back cards I have, and the fact that I only requested a 5k limit, it should have been obvious to them that I was only going to use their card in the 3% category. They would have lost money on me. 2) They didn't like the fact that they're paying me 3.09% interest on my checking balance but I hardly ever use that checking account.If either of the alternate explanations is the reality though, then why lie to me?

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[B335is]

Core,

I've tried the approach of using more of my available credit. They just turn around and use that as another reason to deny. These CU's seem to want customers with low debt and available credit. Logix even threw in my 13 month old car loan as having too high of a balance. They either like you or don't.

[jaeproc]

Hey kitty if I may ask, was your credit approval instant? Or they manually review applications?  Thanks!

[core]

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@jaeproc wrote:

Hey kitty if I may ask, was your credit approval instant? Or they manually review applications?  Thanks!

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While you're waiting for kitty to respond...

There's no longer any way that it can be instant, but it might have been in the past.  Unless, perhaps, if you do it over the phone with a human.  On the site they use this archaic WebLoan system which just forwards your data to a person.  In fact, there's not even any way to say which Visa card you want to app for.  I had to put it in the comments section.  Instant approval would be impossible I would think, without even having a card type.

[Anonymous]

You guys are scaring me off of CU CC's..

[Anonymous]

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@core wrote:

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@jaeproc wrote:

Hey kitty if I may ask, was your credit approval instant? Or they manually review applications?  Thanks!

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While you're waiting for kitty to respond...

There's no longer any way that it can be instant, but it might have been in the past.  Unless, perhaps, if you do it over the phone with a human.  On the site they use this archaic WebLoan system which just forwards your data to a person.  In fact, there's not even any way to say which Visa card you want to app for.  I had to put it in the comments section.  Instant approval would be impossible I would think, without even having a card type.

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What was the appeal of this CU again?