DCU CC

[Anonymous]

I need to garden, but I bite and applied for (in my mind the last inquiry I would have till 2016) CC at DCU since I am going to get a savings there as well (thought they could use the same pull but I was dead wrong on that) and hopefully refinance car in the future.  Anyways they say they pulled equifax however I recieved an inquiry on myfico experian report this morning (applied yesterday).  Spoke with online rep and was told I was denied due to:

-delinquent past or present credit obligations

-excessive number of new accounts

-slow payment history

The online rep stated that my score was great, equifax pulled 692 (highest score I have ever pulled) but the other mitigating factors denied me.  I have couple late payments on my student loans that are 3-5 years old, 5 new CC accounts in the last 60 days (store cards and one cc), but the slow payment history???  I do have high utilization on my cap 1 cards, maybe that is what that meant but I have not missed a car payments in 17 months and Cap one payment since I have had the cards approx. 8 and 9 months. 

Also, she stated she could not use the same pull for the savings account that I would have to burn another one and for me, inquiries are tight since I have a lot (16).  Welp, back to the garden where I should have been in the first place!

[masscredit]

They usually pull EQ04 scores. That 692 should get you their lowest rate if you want to refinance now. The inquiry from the credit card app should be good for the refi and it will save you money. Might be worth looking into. 

[Anonymous]

I just refinanced with Cap one but did not get a good rate.  Would it matter if I refinanced again?  Cap one just paid my Sandanter in full last week and I start paying Cap one 4/14/2015.  Sandanter was 16.5% and Cap one refi'd at 13.5% which is still really high.  If I could get a lower rate with DCU and they can use the same pull on the CC I definitely would.  Any other advise on this matter?  

[chally]

Agree wih masscredit, DCU offers 1.49% on car note with a score of 675 and up.

[Anonymous]

Does it matter that I just refinanced with Cap one?  If I refi'd with DCU, they would just pay Cap one this month and I would start with them next month?  I know this may seem like a simple process but I just want to make sure it would be a smart move since I just refinanced with Cap one last month.  

[masscredit]

Based on the rate that you have with Cap 1, there will be a significant savings. I'd go for it and would confirm that they can use the same pull. Actually, for the money you'd save, it would be worth a HP. 

[Anonymous]

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@masscredit wrote:

They usually pull EQ04 scores. That 692 should get you their lowest rate if you want to refinance now. The inquiry from the credit card app should be good for the refi and it will save you money. Might be worth looking into. 

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Any clue where I can find a EQ04 score?

[masscredit]

It post it in your DCU mail the end of each month. Log into your account online to see it.

[Anonymous]

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@masscredit wrote:
It post it in your DCU mail the end of each month. Log into your account online to see it.

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I am not a DCU member yet....

[lee645]

They said it was 692 on the denial. That is your CURRENT Score. If they re pull for membership it can drop some but still in a good position for best rate.

They will use same HP for auto refinance.

You "can" refinance every month. Just make sure you have no early payoff penalties. Of course you don't want to refinance often as the inq and new accounts hurt your scores. That being said it is definitely worth it in your situation.

Good luck. Keep us posted!