Hello, everyone. I have been learning awful a lot from this board. I recently entered into 700 club. I have a big dilemma and am looking for your sound advise.
I applied for a DCU membership as I wanted to open their high interest rate savings account and got approved. While I was applying for the account, it preapproved me for their Platinum Visa for 5K. So I applied, thinking they would most likely pull EQ. This morning I received an alert from EX that DCU was blocked from pulling my CR. I had unlocked EQ and TU but not EX. On my EX CR, I show 10 inquiries of which 7 are within last 12 months (3 are from my recent auto loan that I was approved for last month).
My scores are:
FICO 8: EQ 721, TU 704, EX 712
My question is should I risk another HP and proceed with my DCU visa app hoping for an approval for my $5k visa? My highest cl is $2250 with First National and $2000 Apple Card. I do have 10K cl on Neiman Marcus but that's a dept store card. Would I be better off gardening some more and reapply down the road?
I have high income (six figure) and the cards utility ratio is under 9%. I do not have mortgage debt and show closed auto loans. Only baddie is one 30 day late in Dec 2020 on a Saks card which was totally my dumb mistake.
any advise is truly appreciated.
There's no dilemma. If you want the card, you must be willing to take a HP for it.
Your scores seem fine. There's no guarantee either way.
Sometimes you have to jump out there and see what happens.
If you were pre-approved. It was most likely a SP.
Always unfreeze the big three before applying for credit or bank accounts.
I so appreciate your advise. I unlocked all of the three CBs. It is a waiting game now. I will let you know what happens. Thank you again.
You're most welcome. Please do.
Sounds like you'll be fine, with the pre-approval.
I'm rooting for you!
Good Luck OP
DCU UW called me today asking to provide the following:
2 years of tax returns;
copy of my social security card;
proof of my residence (such as utility bill or bank stmt).
They gave me a secure link to upload the docs. So I sent the requested documents this morning.
With the economy where it is and heading, I suppose the lenders are tightening up their credit underwriting. I have not seen any other members having to submit two years of tax returns (for 5K limit Visa card), and the other docs to prove who I am.
I will be officially entering gardening after this at least until the end of the year.
I will update everyone.
Good luck. May the odds be ever in your favor!
@bigbearmomma wrote:DCU UW called me today asking to provide the following:
2 years of tax returns;
copy of my social security card;
proof of my residence (such as utility bill or bank stmt).
They gave me a secure link to upload the docs. So I sent the requested documents this morning.
With the economy where it is and heading, I suppose the lenders are tightening up their credit underwriting. I have not seen any other members having to submit two years of tax returns (for 5K limit Visa card), and the other docs to prove who I am.
I will be officially entering gardening after this at least until the end of the year.
I will update everyone.
Ok good luck!
You'll be fine. If they wanted to deny you, they could have done it already.
Personally, I'm not sending any bank or CU tax returns for a credit card.
I find that ridiculous.
JMHO
I'll be looking for your approval in the approval forum.😃
Yes, I am self employed.
It is reasonable that the bank wants my returns to prove my income which I have no problems with.