Consumers CU denied with 778 FICO

[Ron1]

Congrats on your approval. I tried 3 times to join. They asked LN question that I didn't know. I called the backdoor. They wanted me to send in the utility bills. The utility bills is not under my name. So I couldn't join. They are pain to deal with.


Ron.

[core]

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@Anonymous wrote:
Yea, what do those damm letters in your business stand for ??? We must know in order to approve your application. What a joke. 😱😱😱

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She said she needed it because the old man in the cave wanted her to "verify employment".  I don't know how knowing what the letters stand for helps anyone verify employment, but oh well.  I mean they didn't even ask for tax returns, even after I offered to send them.  (Yes, I was desperate folks.)  No docs were required for my $5k, just for future viewers of this thread.  I wouldn't count on that though next time.

I should have told her, since we're asking dumb questions, to ask the man in the cave what the heck kind of name is "Consumers Credit Union".   The lack of an apostrophe speaks volumes.

[Anonymous]

Yea. Exactly. I joined SDFCU and I'm really happy with them as a CU, but the rewards don't compare with CCU. But I did get an unbelievable 6.99% APR VISA which is by far lower than any other CC I have. My others offered a low "intro rate", but not came close to 6.99% for their regular APR.

[core]

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@Anonymous wrote:
Yea. Exactly. I joined SDFCU and I'm really happy with them as a CU, but the rewards don't compare with CCU. But I did get an unbelievable 6.99% APR VISA which is by far lower than any other CC I have.

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There are rewards cards, and there are low APR cards, and never the twain shall meet.  CCU would probably balance-chase you the second you put anything substantial on the card anyway.

[core]

** New min limit is $5k as of Feb 1st 2016 **

8 months after my useless card approval... and this is the last chapter in this long saga, I promise:

I called asking to upgrade my card to the 3-2-1 Visa Signature, even though it's been nerfed recently.  Why, you ask?  Well because I was on a mission, that's why.  No other reason.

The loan officer didn't ask for updated references because I asked her to use the ones from my last app and I didn't remember which numbers I made up have them handy.  She did ask me for employment information but she didn't ask what the letters in my company name stood for.  She asked me what limit I wanted, and asked if I wanted it to remain at $5k.  I thought the minimum was $10k?  I mean, I really have spent the last 8 months building up $10k limits just for them.  Also I had started keeping $20-30k in my credit union checking account.  She said no, it used to be $10k min but as of Feb 1st it's $5k.  Yes $5k is fine, I said.   As always, they are very concerned that you're going to spend at least $1k/month on "credit cards", not necessarily their own.

She informed me they were going to need a hard pull.

Me: "Transunion, right?  It's not going to be an issue if I've had _one_ INQ on TU in the past 6 months, is it?"

Loan officer: "Oh no, that won't be a problem at all."

Me: "Well last time it WAS a problem."

LO: "Hrmmm, were you a new member to the CU at the time?"

Me: "I guess, if 5 years is a new member."

Silence.  She said she'd submit the application to the old man in the cave and get back to me in a few hours.  I wondered how they could possibly deny me when I wasn't asking for any additional limit.  If I'm not creditworthy enough to have the 3-2-1 rewards card, then surely they should just close my existing $5k account?

3 hours later, she called back to say I was approved.  I asked if it was going to be a new tradeline and she was under the impression that it would not be.  So I got hit with the HP but not the AAoA hit.  Fair enough, and I'm relatively pleased to have finally conquered CCU.

Hope the info helps someone in the future.  But if you're going to apply for CCU I think you should see a shrink first.

[Gmood1]

Thanks for the update. I was just looking over this CU today.
That rate is terrific! I just don't like the hoops they make you jump thru.

I called Xcel CU this morning and inquired about their hoops.
They only ask for 12 debit transactions and online statements.
The CSR told me they pull only EX.

The rate is 2.01% but you can get that rate up to 50k.
Which makes up some of the difference not going with consumers. Still considering it, but from your experience I'll probably go Xcel and drop 40k in it.

How do you guys do this 12 debit deal on Amazon?

[core]

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@Gmood1 wrote:
How do you guys do this 12 debit deal on Amazon?

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You do one CREDIT transaction on Amazon.  They will put it through as a PIN-less debit, which will not count.  But then you can go into your Amazon payment preferences and select that same card and edit it.  There you will find a checkbox to opt out of the "forced" debit card processing and make them treat it as a credit card purchase which was what you originally requested.  Then do your 12x $0.50 reloads.

[Anonymous]

With the same pull ask for a line of credit to pay off cards so you can close them. Talk to someone higher up.

[Anonymous]

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@core wrote:

8 months after my useless card approval... and this is the last chapter in this long saga, I promise:

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That's too bad, this thread was a good read.

[Anonymous]

@core

I've had root canals and prostate exams they were less painful and evasive then the underwriting at this crazy conservative credit union.

Three personal references to get a credit card? Insane!