DCU Denied :(

[joeydtx]

So I decided to try with DCU for a credit card, been with them for quite some time now and have a good track record with their Quick Loan... only credit product I have gotten.  Scores 639 on Fico 5, bit low but I been itching to try.  Approved!  and I almost fell off my chair, was so happy at that moment even though its no frills its at least a decent card for the low APR.  This would be my new card for all my bills, PIF and prepare for the road for something better.  Sent in my paystub and awaited further contact.

No emails all day, decided to try and call and see if by chance they needed anything, as with my Quick Loans I seem to always need to call for them to be like "oh, we need to send you the agreement to digitally sign" after a few days of applying and no word.  So I finally get thru, after 30 mins, and got a ok but somewhat grumpy sounded person like she was tired but was really trying.  Looked up my app, and was told I was denied!  All my good vibes dropped to my feet, and was like but it said I was approved that morning... to uncaring ears all just said the underwriter decided different at finalization.

So depressed now, I am so ready to drop them and move elsewhere.  Aside from the early DD and the quick loan, my loyalty to em is at a waning point.  Maybe I am just upset about it, but now contemplating on moving my banking again.  I do have BECU now as I set them up as a backup/savings as I send some money their way from my DD as a send it but dont see it, to build emergency funds.

[Anonymous]

I would sit tight for now. How far into your loan are you? If it's under a year, just bode your time with them, show them consistently responsible payments, and give your score time to climb. Some FIs use an internal score metric as well and that climbs with time. CUs are typically more lenient than major banks but they may feel that you're a little low for additional credit. Keep in mind too that CUs often use scores other than straight FICO8s for lending decisions (case in point, PenFed pulled EQ FICO 9 for me a couple weekends ago, and as you saw, DCU used score 5). Some may even pull another type of score for a different product, so the score you're referencing may or may not be the one they use.

Just maintain as you are, show them you pay responsibly, and in a bit they'll likely loosen the purse strings.

[Wavester64]

Very sorry to hear @joeydtx 

Chin up though - one door closes another door opens and I am sure when that other door opens it will be something a lot better thant a credit product from DCU! 

[Shawn19AL]

Ive been banking with them almost 2 years.  Quick loans are the only preapprovals Im eligible for and my FICO 5 is currently 670. I send DD of $100 every week and use the debit card for little things and pay my amazon monthly fee with it.

I dont plan on applying for any credit cards with them as Ive read they are conservative.  I would like to refinance my car with them though. Waiting on my house to close before I call in to apply. 

[Anonymous]

I wouldn't leave DCU completely over the denial honestly. Just park $1K in savings and move the direct deposit to BECU then ask BECU for a card in 6 months. Collect that ~$62 a year from DCU while doing the rest of your business with BECU. 

If you really have to have the savings money out of sight, out of mind, then use the DCU savings for that. 

Most of us have had denials. They sting for sure but life goes on. 

[M_Smart007]

Sorry for your denial OP

Most uf us have had denials, and while it stings/stinks.

Just move on!

I am with @Anonymous on not ditching them completely,

although that is a normal knee jerk reaction. I have been there

[Loquat]

I'm sure we can all relate to such a feeling. It does indeed suck, OP. But like others have mentioned. Just hang in there. Work on getting your score up a bit and when you do, you may find you may no longer want them. You'll get there...don't get discouraged. Slow and steady...

[Anonymous]

I had similar experice with BECU card. 

It seems that the smaller institutions are not relying on auto approvals.

[Anonymous]

Rebuilding is a slow process..but take heart we have all been where you are right now...it does get better. PROMISE. Continue to be faithful in making your loan pmts and keep following this forum. Does DCU offer a secured card that converts? Is this a viable alternative? Time is on your side. I concur with @ Saeren BECU is a solid CU. One step at a time..before you realize it... in just a few months, you'll have multiple credit options available.