Datapoint needed for BCU

[FireMedic1]

All the approvals 20k+ before us drained the safe.  So $5000 CL I guess is the norm for now. Thats what I got today. Need it more because none of my cards have any BT offers. So I'm fine with it. 0% for 12 months will work just fine.

[Janneman]

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@Janneman wrote:

One of my friends applied for their credit card online even though she has dedicated representative on her account...But she got approved only for $5k...and now she is very upset...She has not applied for any credit in 14 months...her score on TU is 812...No new account and no new inquiry in 14 months...Income is over $150k...utilization is less than 1%...as she owes only $500 ...She has total 27 revolving accounts and total available credit is $800k...She couldn't figure it out why she got this much CL...This is her lowest CL in 20 years...The length of her employment history is the only thing she is thinking went to decide this low CL...because she got this new job only 3 yrs ago and application did ask about it.

She did contact the dedicated representative on her account to forward her request to underwriter/loan officer for review for a higher CL, and two hours later she heard from DR that loan officer said that $5k is the maximum they could offer her at this time...but no reason given why....She has made an appointment to speak with a loan officer after 10 days because she can not talk over the phone during the day while she works because of the nature of her work...So, during July 4th week she is off. She is very upset with this kind CL especially when she is very selected to which credit card she should get.

As for me then I have not applied for any credit card from them yet nor I have any plan in this year unless I change my mind. I joined this CU in the end of May...last month...I did have a credit card from them last December with SL of $25k...but no more...But I definitely wouldn't wish to get this low CL... But seeing that some people are getting lower CL, I am hesitant to apply. Besides, right now I already got 2 cards and I need to respond to 2-3 more pre-approved offers....So, doesnt seem any room for this card...

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My friend has decided to keep the card until she gets SUB since she already wasted a HP, but after SUB she said that she is definitely going to cancel it because she doesnt need such a low limit card and this card offers no special benefit. She applied for the sake of getting larger CL seen what I got before but now she is very much disappointed. She said that she would close down it after getting the SUB and then might try again a year or so later....the same card or another one...

[CreditCuriosity]

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@Janneman wrote:

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@Janneman wrote:

One of my friends applied for their credit card online even though she has dedicated representative on her account...But she got approved only for $5k...and now she is very upset...She has not applied for any credit in 14 months...her score on TU is 812...No new account and no new inquiry in 14 months...Income is over $150k...utilization is less than 1%...as she owes only $500 ...She has total 27 revolving accounts and total available credit is $800k...She couldn't figure it out why she got this much CL...This is her lowest CL in 20 years...The length of her employment history is the only thing she is thinking went to decide this low CL...because she got this new job only 3 yrs ago and application did ask about it.

She did contact the dedicated representative on her account to forward her request to underwriter/loan officer for review for a higher CL, and two hours later she heard from DR that loan officer said that $5k is the maximum they could offer her at this time...but no reason given why....She has made an appointment to speak with a loan officer after 10 days because she can not talk over the phone during the day while she works because of the nature of her work...So, during July 4th week she is off. She is very upset with this kind CL especially when she is very selected to which credit card she should get.

As for me then I have not applied for any credit card from them yet nor I have any plan in this year unless I change my mind. I joined this CU in the end of May...last month...I did have a credit card from them last December with SL of $25k...but no more...But I definitely wouldn't wish to get this low CL... But seeing that some people are getting lower CL, I am hesitant to apply. Besides, right now I already got 2 cards and I need to respond to 2-3 more pre-approved offers....So, doesnt seem any room for this card...

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My friend has decided to keep the card until she gets SUB since she already wasted a HP, but after HP she said that she is definitely going to cancel it because she doesnt need such a low limit card and this card offers no special benefit. She applied for the sake of getting larger CL seen what I got before but now she is very much disappointed. She said that she would close down it after getting the SUB and then might try again a year or so later....the same card or another one...

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They are a still a great CU despite the CC limit.. Auto loans and other loans a very competitive and great customer service which is hard to find these days so if I was here I wouldn't competply write them off.  Basically they are taking a play from AOD play book it appears as big limits for people like me then lowered to 5k to eventually finding reasons to deny ppl for to much available credit then cut off to new applications

[Janneman]

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@CreditCuriosity wrote:

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@Janneman wrote:

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@Janneman wrote:

One of my friends applied for their credit card online even though she has dedicated representative on her account...But she got approved only for $5k...and now she is very upset...She has not applied for any credit in 14 months...her score on TU is 812...No new account and no new inquiry in 14 months...Income is over $150k...utilization is less than 1%...as she owes only $500 ...She has total 27 revolving accounts and total available credit is $800k...She couldn't figure it out why she got this much CL...This is her lowest CL in 20 years...The length of her employment history is the only thing she is thinking went to decide this low CL...because she got this new job only 3 yrs ago and application did ask about it.

She did contact the dedicated representative on her account to forward her request to underwriter/loan officer for review for a higher CL, and two hours later she heard from DR that loan officer said that $5k is the maximum they could offer her at this time...but no reason given why....She has made an appointment to speak with a loan officer after 10 days because she can not talk over the phone during the day while she works because of the nature of her work...So, during July 4th week she is off. She is very upset with this kind CL especially when she is very selected to which credit card she should get.

As for me then I have not applied for any credit card from them yet nor I have any plan in this year unless I change my mind. I joined this CU in the end of May...last month...I did have a credit card from them last December with SL of $25k...but no more...But I definitely wouldn't wish to get this low CL... But seeing that some people are getting lower CL, I am hesitant to apply. Besides, right now I already got 2 cards and I need to respond to 2-3 more pre-approved offers....So, doesnt seem any room for this card...

---

My friend has decided to keep the card until she gets SUB since she already wasted a HP, but after SUB she said that she is definitely going to cancel it because she doesnt need such a low limit card and this card offers no special benefit. She applied for the sake of getting larger CL seen what I got before but now she is very much disappointed. She said that she would close down it after getting the SUB and then might try again a year or so later....the same card or another one...

---

They are a still a great CU despite the CC limit.. Auto loans and other loans a very competitive and great customer service which is hard to find these days so if I was here I wouldn't competply write them off.  Basically they are taking a play from AOD play book it appears as big limits for people like me then lowered to 5k to eventually finding reasons to deny ppl for to much available credit then cut off to new applications

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I personally dont think its a good credit union except giving away BIG SL ever since which not has changed in the wake of surge. There are so many good CUs which are much better than this CUs...whether its about APR, BT fees other benefits...I guess, its all our own perspective......in the eyes of beholder kinda rationale.

[Jeffster1]

Everybody has different expectations. As for me, I'm good with my 8K approval and here's why:

- My 13 is still on my reports until March 2024 (barring any EE).

- I have decent scores (in signature below),  but not yet where I want to be or plan to be.

- I am coming off a VERY productive 12 months where I have received numerous approvals for prime cards. 
- I am right now inquiry-heavy and new account-heavy.

- They approved me for $5K and immediately bumped it to $8K without my asking. 

- I can always grow with the card.

- Good APR, and great BT offer (though I have no balances to transfer).

- BCU has been very welcoming and communicative. 


I am speaking only for myself and my own situation, of course. I make over $200K a year but given the fact that I still have the 13 reporting, I don't have a problem with SL. 

[Catbird_Seat]

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@Janneman wrote:

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My friend has decided to keep the card until she gets SUB since she already wasted a HP, but after SUB she said that she is definitely going to cancel it because she doesnt need such a low limit card and this card offers no special benefit. She applied for the sake of getting larger CL seen what I got before but now she is very much disappointed. She said that she would close down it after getting the SUB and then might try again a year or so later....the same card or another one...

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Tell your friend to be careful, creditors have been known to claw back SUBs if someone cancels a card right away after getting the SUB & opening the card. 

[CreditCuriosity]

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@Janneman wrote:

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@CreditCuriosity wrote:

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@Janneman wrote:

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@Janneman wrote:

One of my friends applied for their credit card online even though she has dedicated representative on her account...But she got approved only for $5k...and now she is very upset...She has not applied for any credit in 14 months...her score on TU is 812...No new account and no new inquiry in 14 months...Income is over $150k...utilization is less than 1%...as she owes only $500 ...She has total 27 revolving accounts and total available credit is $800k...She couldn't figure it out why she got this much CL...This is her lowest CL in 20 years...The length of her employment history is the only thing she is thinking went to decide this low CL...because she got this new job only 3 yrs ago and application did ask about it.

She did contact the dedicated representative on her account to forward her request to underwriter/loan officer for review for a higher CL, and two hours later she heard from DR that loan officer said that $5k is the maximum they could offer her at this time...but no reason given why....She has made an appointment to speak with a loan officer after 10 days because she can not talk over the phone during the day while she works because of the nature of her work...So, during July 4th week she is off. She is very upset with this kind CL especially when she is very selected to which credit card she should get.

As for me then I have not applied for any credit card from them yet nor I have any plan in this year unless I change my mind. I joined this CU in the end of May...last month...I did have a credit card from them last December with SL of $25k...but no more...But I definitely wouldn't wish to get this low CL... But seeing that some people are getting lower CL, I am hesitant to apply. Besides, right now I already got 2 cards and I need to respond to 2-3 more pre-approved offers....So, doesnt seem any room for this card...

---

My friend has decided to keep the card until she gets SUB since she already wasted a HP, but after SUB she said that she is definitely going to cancel it because she doesnt need such a low limit card and this card offers no special benefit. She applied for the sake of getting larger CL seen what I got before but now she is very much disappointed. She said that she would close down it after getting the SUB and then might try again a year or so later....the same card or another one...

---

They are a still a great CU despite the CC limit.. Auto loans and other loans a very competitive and great customer service which is hard to find these days so if I was here I wouldn't competply write them off.  Basically they are taking a play from AOD play book it appears as big limits for people like me then lowered to 5k to eventually finding reasons to deny ppl for to much available credit then cut off to new applications

---

I personally dont think its a good credit union except giving away BIG SL ever since which not has changed in the wake of surge. There are so many good CUs which are much better than this CUs...whether its about APR, BT fees other benefits...I guess, its all our own perspective......in the eyes of beholder kinda rationale.

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All in the eye of the beholder I suspect.  my best friend life long has a 100k CC with then although only 1.5%.  Has a 300k+ lamborgini financed with them and another 300k+ ferrari financed with them and they don't bat an eye.  Does he make a million plus a year, yes.  So for his needs they offer great rates and know him and hence a great CU what he uses them for.  Most of his spend 400k+ in cc alone goes on AMEX platinum just for simplicity for him and he wants the centurian eventually.  different boats for different folks I suppose.  I say I hate WF, because I can't get approved for their CC, but I get it I have 800kish in personal credit and they know they won't make a dime off of me.   So I wrote them off, but does that make them a bad CC issuer?  Most people swear by them and get good approvals, yet not me a higher earner with high scores.  Just like other CU/Bank certain people will find useful/not useful depending.  They certainly serve a purpose just like most FI's have a niche/purpose.  Just cause average CL is say 30k on someone doesn't mean all lenders are willing to give the to me or anyone else as they rather give it to someone that can use the credit.  Just my 2 cents on FI's in general

[Janneman]

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@Catbird_Seat wrote:

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@Janneman wrote:

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My friend has decided to keep the card until she gets SUB since she already wasted a HP, but after SUB she said that she is definitely going to cancel it because she doesnt need such a low limit card and this card offers no special benefit. She applied for the sake of getting larger CL seen what I got before but now she is very much disappointed. She said that she would close down it after getting the SUB and then might try again a year or so later....the same card or another one...

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Tell your friend to be careful, creditors have been known to claw back SUBs if someone cancels a card right away after getting the SUB & opening the card. 

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Yes, there are a few creditors who are known to claw back SUBs...and Amex is out of them only known so far...but no bank/CU can claw back just they want to...otherwise people would take them in court...If something is stipulated in their terms and conditions, then by all means they can claw back like Amex makes very clear in its terms and conditions that if account is canceled within 12 months then they may claw back....However, I do not see any such condition with BCU though...for my friend to be worried about....But appreciate your point of caution... 

[Janneman]

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@CreditCuriosity wrote:

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@Janneman wrote:

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@CreditCuriosity wrote:

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@Janneman wrote:

---

@Janneman wrote:

One of my friends applied for their credit card online even though she has dedicated representative on her account...But she got approved only for $5k...and now she is very upset...She has not applied for any credit in 14 months...her score on TU is 812...No new account and no new inquiry in 14 months...Income is over $150k...utilization is less than 1%...as she owes only $500 ...She has total 27 revolving accounts and total available credit is $800k...She couldn't figure it out why she got this much CL...This is her lowest CL in 20 years...The length of her employment history is the only thing she is thinking went to decide this low CL...because she got this new job only 3 yrs ago and application did ask about it.

She did contact the dedicated representative on her account to forward her request to underwriter/loan officer for review for a higher CL, and two hours later she heard from DR that loan officer said that $5k is the maximum they could offer her at this time...but no reason given why....She has made an appointment to speak with a loan officer after 10 days because she can not talk over the phone during the day while she works because of the nature of her work...So, during July 4th week she is off. She is very upset with this kind CL especially when she is very selected to which credit card she should get.

As for me then I have not applied for any credit card from them yet nor I have any plan in this year unless I change my mind. I joined this CU in the end of May...last month...I did have a credit card from them last December with SL of $25k...but no more...But I definitely wouldn't wish to get this low CL... But seeing that some people are getting lower CL, I am hesitant to apply. Besides, right now I already got 2 cards and I need to respond to 2-3 more pre-approved offers....So, doesnt seem any room for this card...

---

My friend has decided to keep the card until she gets SUB since she already wasted a HP, but after SUB she said that she is definitely going to cancel it because she doesnt need such a low limit card and this card offers no special benefit. She applied for the sake of getting larger CL seen what I got before but now she is very much disappointed. She said that she would close down it after getting the SUB and then might try again a year or so later....the same card or another one...

---

They are a still a great CU despite the CC limit.. Auto loans and other loans a very competitive and great customer service which is hard to find these days so if I was here I wouldn't competply write them off.  Basically they are taking a play from AOD play book it appears as big limits for people like me then lowered to 5k to eventually finding reasons to deny ppl for to much available credit then cut off to new applications

---

I personally dont think its a good credit union except giving away BIG SL ever since which not has changed in the wake of surge. There are so many good CUs which are much better than this CUs...whether its about APR, BT fees other benefits...I guess, its all our own perspective......in the eyes of beholder kinda rationale.

---

All in the eye of the beholder I suspect.  my best friend life long has a 100k CC with then although only 1.5%.  Has a 300k+ lamborgini financed with them and another 300k+ ferrari financed with them and they don't bat an eye.  Does he make a million plus a year, yes.  So for his needs they offer great rates and know him and hence a great CU what he uses them for.  Most of his spend 400k+ in cc alone goes on AMEX platinum just for simplicity for him and he wants the centurian eventually.  different boats for different folks I suppose.  I say I hate WF, because I can't get approved for their CC, but I get it I have 800kish in personal credit and they know they won't make a dime off of me.   So I wrote them off, but does that make them a bad CC issuer?  Most people swear by them and get good approvals, yet not me a higher earner with high scores.  Just like other CU/Bank certain people will find useful/not useful depending.  They certainly serve a purpose just like most FI's have a niche/purpose.  Just cause average CL is say 30k on someone doesn't mean all lenders are willing to give the to me or anyone else as they rather give it to someone that can use the credit.  Just my 2 cents on FI's in general

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First off, your friend's situation is certainly NOT a norm. He is an exceptional. Secondly, given his income and spending, almost every bank would give him whole nine yard or red carpet treatment...So, BCU is no different if he has received a big line of credit. Thirdly, I am not a big income earner nor I have a thick profile...so does my friend...but other banks and credit unions have treated us so well...She has two cards from NFCU, one is $50k limit and other is $30k limit ...and all within one and half year. She has two credit cards with WF and total limit on those cards $93k...She has accounts with almost most major banks and many CUs...and has very good CL..none less than $15k but this CU approved her only for $5k...I personally wouldn't touch this BCU if it wasn't for higher limit but now they are different, I am not interested because nothing about them makes me to get their cards as of now...Again, different strokes for different people...It might work for some, but not for others...

[northway]

I think we've really lost the plot here.

Whether or not BCU is good for your individual needs is subjective. They're willing to issue large limits and have flexible underwriting standards if your income and credit profile supports it. They are also not sensitive to inquiries or new accounts at all. They pull a VantageScore 4.0 via TransUnion (standard) or Experian (upon request). I currently have 90K+ in open credit lines with them and a 75K auto loan @ 2%.

This is NOT an NFCU "I make $40 a week and am paid bonuses in chewing gum: here's a $48K SL" situation.

They are NOT the gold standard for credit unions, and their service can leave a lot to be desired at times, especially if you need something that can't be handled right away since nearly every department is siloed from the call center. Appointment scheduling for callbacks are frequent. Their Account Protection team can be overbearing if you happen to get on their wrong side, but once you're cleared it's smooth sailing. They do NOT have shared branching, and they do NOT have many open branches for the public. Most of their branches are restricted access for employee partners.

Their lending products are not the gold standard either. 1.5% Cashback is standard in the industry, and the Travel Rewards 2X points can only be redeemed on travel purchases. 0% FTF is offered, but ONLY on Visa Signature products. High cash advance and balance transfer fees apply, and outside of an initial 12 month 0% BT period, I've never been offered another BT promo on either of my cards.

One of my other credit unions offers a 2% cashback card with 0% FTF, no CA or BT fees and gave me a $30K limit just like BCU. Plus their checking account gives unlimited ATM fee refunds, free wires, free checks, etc, with no direct deposit gimmicks. It's an easier solution than BCU.

So don't get lost in the hype. Does BCU work for some of my needs? Yes. But would I go out of my way to stick with them given my alternatives? Probably not.

I'm not going to close my accounts any time soon having said that.