cancel
Showing results for 
Search instead for 
Did you mean: 

Digital Credit Union (DCU) Visa Denial

cem13
Established Contributor

Digital Credit Union (DCU) Visa Denial

Another DP for DCU.  I have been a member of DCU for over 7 years.  I opened an account with them during my 2 year post BK7 rebuild in hopes of getting a future CC from them.  I opened several CU accounts at this time: NFCU, PenFed, Langley, Lake Michigan, DCU, Allient, State Dept, and NASA.  At that time (2013~2014) NFCU, PenFed, NASA and State Dept all gave me a CC.  Lake Michigan denied me in 2014, so I kept Langley, DCU and Allient on the bench for "later" app spree.

 

I had $5 a month tranferring to DCU checking to build a "relationship" (whatever that means).  I lost track of time with these CUs and during my DEC19 App Spree, I decided to apply for the DCU Visa.  I was denied.

 

Reason:  * Too Much Revolving Debt

They used EQ Fico 09 Score (688).

 

I have about $40K out of $240K (17.5% utilization) revolving debt and ~$150K income.  I have $3000 disposable monthly income.  I did not know DCU was that conservative.  During the recent app spree: NFCU gave me a 3rd card @ $8K; Citi DC @ ~$9K; Apple @ ~$5.5K; FNBO Ducks Unlimited @~$3K; and BECU @ ~$3K.

 

Needless to say, I took my DCU money and ran.  They can keep the $5 minimum.  I have too many CU accounts anyway.  I still have Langley and Allient on the bench for another app spree later this year.  IMO most CUs have the same benefits although some have a "trick pony" to entice membership with low load rates, BT offer, bonuses etc.

F'08 DEC19: EQ709, EX697, TU720; Clean since BK7 D/C 6/2011
Message 1 of 10
9 REPLIES 9
Gotham-
Frequent Contributor

Re: Digital Credit Union (DCU) Visa Denial

Thanks for the DPs

DCU has a personality... for Auto loans they have been very competitive and sometimes best rate so term loans I’m there with them new-refi-etc. but revolving lines they are conservative even with equifax 5 mortgage scoring model I was instantly approved for my Auto loan they use same profile for other products for 45 days I was 760 equifax 5 but wouldn’t approve me for CC my DP was I haven’t applied for anything since 2016...

So 4 months (oct 2019)in new auto loan and now pre-approved for CC and term loan products maybe the underwriter’s profile personality and interpretation plays a part
that’s why we got recons right ARGH 😤

You have more years with them so I’m just telling you what you already know!!

🦇💥🥊 Gotham
2018 Dec Starting Score: 700
Current Score: 778
Achieved Goal Score 2020: 800

Take the myFICO Fitness Challenge









Message 2 of 10
credit_endurance
Valued Contributor

Re: Digital Credit Union (DCU) Visa Denial

DCU is known for coming up with excuses not to grant credit. Don't feel bad I have been denied 3 times!! For the Platinum Visa. Even talked to a loan officer about my reports and at that time had many new accounts and some debt reporting, nothing major but I guess too much for their tastes. LO even mentioned if I got my DTI ratio down they would approve. Waited 6 months and got the ratio down. Reapplied, and still denied!       I only keep them around for the free monthly Fico scores and savings account. I have found very few CU that aren't a bit spooked 😲 of much available credit and DTI. 

Starting FICO08 Scores 2016 All in the mid 500’s
Current FICO08 Scores AUG 2021 (TU 770) (EQ 775) (EXP 762)

“The credit is no longer bruised, it has endured the test of time” (formally know as bruisedcredit)

Garden Party Until July 2022….Chase 4/24
Message 3 of 10
CreditCuriosity
Moderator

Re: Digital Credit Union (DCU) Visa Denial

Thanks for DP... 40k in revolving debt with a BK on file still will get some peoples attention as not really a small amount.  Just my humble opinion

 

edit: Langley will most likely deny you a CC as well as they are very DTI sensitive.

Message 4 of 10
AverageJoesCredit
Mega Contributor

Re: Digital Credit Union (DCU) Visa Denial

Yup, i agree, 40k debt though maybe not huge for a 150k earner is still alot by most standards but there are plenty of lenders out there who dont bat an eyeSmiley Wink. Maybe get a pl to help clean up your report. Thanks for sharingSmiley Happy
Message 5 of 10
M_Smart007
Epic Contributor

Re: Digital Credit Union (DCU) Visa Denial

I guess it's like a horse race, one will always come in last.

I think I am at 10-12 CU's.   .. I have one I am not a fan of Smiley Indifferent

Message 6 of 10
AllZero
Mega Contributor

Re: Digital Credit Union (DCU) Visa Denial

If anything, at least make use of that 6.17% APY on savings up to $1,000.

Message 7 of 10
FinStar
Moderator

Re: Digital Credit Union (DCU) Visa Denial


@CreditCuriosity wrote:

Thanks for DP... 40k in revolving debt with a BK on file still will get some peoples attention as not really a small amount.  Just my humble opinion

 

edit: Langley will most likely deny you a CC as well as they are very DTI sensitive.


I would add that Alliant is somewhat conservative as well and would take a similar stance, OP. 

Message 8 of 10
Anonymous
Not applicable

Re: Digital Credit Union (DCU) Visa Denial

Most CUs simply can't afford to take on risky revolving loans. The large ones like NFCU, BECU, and PenFed can but to give a size comparison, DCU's assets aren't even half of BECU's or a tenth of NFCU's and they're the 14th largest CU. 

DCU is also a bit shy about BK. They approved me for their Platinum last February at 13.75% with a $1K limit but even after taking a HP, they declined to give me a CLI. Too much credit seeking combined with my BK for them to give me more. 

Message 9 of 10
Meanmchine
Super Contributor

Re: Digital Credit Union (DCU) Visa Denial


@CreditCuriosity wrote:

Thanks for DP... 40k in revolving debt with a BK on file still will get some peoples attention as not really a small amount.  Just my humble opinion

 

edit: Langley will most likely deny you a CC as well as they are very DTI sensitive.


Bingo


3/2016 EX 644 CK-TU 642 CK-EQ 660 WalMart- 671.
>12/2020 CCT EX 821 TU 826 EQ 840


"Survival kit contents check. In them you'll find:

- One forty-five caliber automatic
- Two boxes of ammunition
- Four days' concentrated emergency rations
- One drug issue containing antibiotics, morphine,
vitamin pills, pep pills, sleeping pills, tranquilizer pills
- One miniature combination Russian phrase book and Bible
- One hundred dollars in rubles
- One hundred dollars in gold
- Nine packs of chewing gum
- One issue of prophylactics
- Three lipsticks
- Three pair of nylon stockings.

Shoot, a fella' could have a pretty good weekend in Vegas with all that stuff."

Major Kong (Slim Pickens) in Dr. Strangelove 1964
Message 10 of 10
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.