DCU Membership questions

Anonymous · ‎09-16-2015

Good evening,
I just completed my application and sent all proper identification to DCU. I called to confirm they received. I just received an alert from MyFico that they pulled EQ. I did not yet receive an email from DCU. Can anyone tell me when will I know if I got in? I have no derogs or lates. About 46% utilization because some cr's haven't yet reflected much lower balances (12% after everything reports). EQ is my lowest score at 655 (hoping to reach the 670's after utilization reports). I think I shouldn't have a problem but just curious about how long the process takes. Thank you in advance.

Anonymous · ‎09-16-2015

Also I forgot to ask. When my payoffs reflect on my reports and my EQ hopefully hits the 670's, do you think I have a shot at a low Apr CC with them?

ddemari · ‎09-16-2015

DCU will use a fico 05 eq although i want to refer to it as eq fico 04 lol. but, from what I have read, you need a 675ish score to be approved for their best rates.

I was denied visa recently with an eq fico 04 in the low 700s but too much credit and inquiries made them decline me.

they will hard pull you for every application you make with them. its also best to call once you have your membership number. i had apps pending with them for 2 weeks, call and they approve or deny.

FinStar · ‎09-16-2015

@ddemari wrote:
DCU will use a fico 05 eq although i want to refer to it as eq fico 04 lol. but, from what I have read, you need a 675ish score to be approved for their best rates.

I was denied visa recently with an eq fico 04 in the low 700s but too much credit and inquiries made them decline me.

they will hard pull you for every application you make with them. its also best to call once you have your membership number. i had apps pending with them for 2 weeks, call and they approve or deny.

Is DCU like PenFed? Meaning, in your experience, do they HP (EQ) for membership and can use the same one for a CC app or is it a 2nd HP for loan products? I don't mind 2 I suppose but I've seen mixed results. I remember that they can be HP-happy (like NFCU)

ddemari · ‎09-16-2015

@FinStar wrote:
@ddemari wrote:
DCU will use a fico 05 eq although i want to refer to it as eq fico 04 lol. but, from what I have read, you need a 675ish score to be approved for their best rates.

I was denied visa recently with an eq fico 04 in the low 700s but too much credit and inquiries made them decline me.

they will hard pull you for every application you make with them. its also best to call once you have your membership number. i had apps pending with them for 2 weeks, call and they approve or deny.
Is DCU like PenFed? Meaning, in your experience, do they HP (EQ) for membership and can use the same one for a CC app or is it a 2nd HP for loan products? I don't mind 2 I suppose but I've seen mixed results. I remember that they can be HP-happy (like NFCU)

DCU is nothing like PenFed in my experience. PenFed- opening membership same hard pull for 60 or 90 days, apply away.

then after that you can apply for something and use the same hard pull for other products for 30 days.

DCU- membership hard pull, visa hard pull, platinum/ rewards both a pull, checking account hard pull. they are Hard pull heavy. penfed does it better in opinion.

wacdenney · ‎09-16-2015

I got DCU membership and Visa card on the same pull. I don't remember exactly how, but it was a single pull. That was it though... Later when they wrote my auto loan that was a seperate pull and they do NOT do anything at all similar to PanFed's 90 day thing.

I don't remmber my exact score at the tme, but I want to say my EQ04 was in the 660s and the only reason I bothered was because I had recently been Egyption denied by NASA and I was looking for a low APR and high limit. I got neither... It's a 4k limit an a mid range APR and basically a worthless card.

FinStar · ‎09-16-2015

@ddemari wrote:
@FinStar wrote:
@ddemari wrote:
DCU will use a fico 05 eq although i want to refer to it as eq fico 04 lol. but, from what I have read, you need a 675ish score to be approved for their best rates.

I was denied visa recently with an eq fico 04 in the low 700s but too much credit and inquiries made them decline me.

they will hard pull you for every application you make with them. its also best to call once you have your membership number. i had apps pending with them for 2 weeks, call and they approve or deny.
Is DCU like PenFed? Meaning, in your experience, do they HP (EQ) for membership and can use the same one for a CC app or is it a 2nd HP for loan products? I don't mind 2 I suppose but I've seen mixed results. I remember that they can be HP-happy (like NFCU)
DCU is nothing like PenFed in my experience. PenFed- opening membership same hard pull for 60 or 90 days, apply away.

then after that you can apply for something and use the same hard pull for other products for 30 days.

DCU- membership hard pull, visa hard pull, platinum/ rewards both a pull, checking account hard pull. they are Hard pull heavy. penfed does it better in opinion.

Wow, I think I just got a DCU HP for typing this! LOL. Gosh, so heavy handed? I suppose I'll have to chose wisely and limit my apps to the Platinum Rewards. So, I figured it'd be 2 HPs but, oh well since I don't have any big ticket items on the horizon we'll see how giving they're willing to be. This is very helpul ddemari

I have PenFed (joined at the end of April) thanks to baller, Lyythine and Irish PenFed has been fabulous - got approved for their Defender Rewards AmEx so I've been pretty happy with them. I'm considering a PLOC down the road. Otherwise, I'm sure if I try now, they'll make a lovely reference to the pyramids!

ETA: thanks for sharing your DCU experience as well wacdenney!

ddemari · ‎09-16-2015

No problem FinStar, I was kicking myself as usual for a few days after joining dcu.

Anonymous · ‎09-16-2015

Well that's a shame you didn't have a good experience with DCU. I chose them based off the research I did right here on these very forums. Hours spent reading many posts about happy DCU members and the growth potential with them. Anyways, I just got an Emil confirmation from them that my membership is approved. I have a local credit union that currolently owns my car loan that I hope to soon refinance at a lower rate with DCU. At that time I will use the same hard pull to apply for a CC with a low APR rate. I am also awaiting membership approval with BECU.

FinStar · ‎09-17-2015

@ddemari wrote:
No problem FinStar, I was kicking myself as usual for a few days after joining dcu.

I'm going to check and see how many HPs it ended up being. I'm counting at least 2, membership and CC app. So I'll definitely confirm in the next day or so and update.