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Digital Credit Union Visa Platinum Credit Card

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Established Member

Digital Credit Union Visa Platinum Credit Card

I live in Orange County CA and I app'd on 2/27/19 - I was denied. 

I called their Loan Servicing Department, and I spoke with a supervisor who explained the denial was due to me having too much available credit. She specifically said, "your available credit cannot exceed more than 25% of your income".

I'm a risk to their organization in other words.

I asked what it would take for an approval... I was told to payoff Lending Club and reapply in one year.

DCU pulled my Equifax Credit Report.

My Equifax FICO 9 Score was 732 (per PenFed - I bank with PenFed).


My UTL was 8%.

Income is 65k.

I have a personal loan through Lending Club for 23k.

 

  • NuVisionFCU - 1k (opened 8/2012) 
  • CapitalOne Quicksilver Rewards - CL $10,500 (opened 12/2014)
  • JCPenney Store CC - CL 6k (opened 12/2014)
  • Disc. IT - CL $13,500 (opened 10/2018)
  • BofA Cash Rewards - CL 5k (opened 10/2018)
  • NFCU - CL 25k (opened 10/2018)
  • PenFed Power Cash Rewards - CL 10k (opened 10/2018)

Feel free to ask me any questions!

9ninne
16 REPLIES 16
Community Leader
Super Contributor

Re: Digital Credit Union Visa Platinum Credit Card


@9ninne wrote:

I live in Orange County CA and I app'd on 2/27/19 - I was denied. 

I called their Loan Servicing Department, and I spoke with a supervisor who explained the denial was due to me having too much available credit. She specifically said, "your available credit cannot exceed more than 25% of your income".

I'm a risk to their organization in other words.

I asked what it would take for an approval... I was told to payoff Lending Club and reapply in one year.

DCU pulled my Equifax Credit Report.

My Equifax FICO 9 Score was 732 (per PenFed - I bank with PenFed).


My UTL was 8%.

Income is 65k.

I have a personal loan through Lending Club for 23k.

 

  • NuVisionFCU - 1k (opened 8/2012) 
  • CapitalOne Quicksilver Rewards - CL $10,500 (opened 12/2014)
  • JCPenney Store CC - CL 6k (opened 12/2014)
  • Disc. IT - CL $13,500 (opened 10/2018)
  • BofA Cash Rewards - CL 5k (opened 10/2018)
  • NFCU - CL 25k (opened 10/2018)
  • PenFed Power Cash Rewards - CL 10k (opened 10/2018)

Feel free to ask me any questions!


It must have been the Lending club loan. As I was instantly approved for the same card a few months ago.

The supervisor just gave you an excuse really. My available credit limits well exceed my household income by 25%, more like 700%. lol

Sometimes the CU's can be finicky. There are many here with limits well passed 25% of their income.

 

Message 2 of 17
Community Leader
Super Contributor

Re: Digital Credit Union Visa Platinum Credit Card

Just close your Navy card to appease the digital credit godsSmiley Wink.
Message 3 of 17
Established Member

Re: Digital Credit Union Visa Platinum Credit Card

Yeah, I totally agree with you!

 

I even agreed to accept any limit due to the hard inquiry.

 

I closed my savings account and I ended my membership because of the denial.

9ninne
Message 4 of 17
Established Member

Re: Digital Credit Union Visa Platinum Credit Card

LOL.

 

No way... my APR is a variable 11% but the intro APR is a set 1.99% on purchases (thru 12/2019) and balance transfers (thru 3/2020).

9ninne
Message 5 of 17
Senior Contributor

Re: Digital Credit Union Visa Platinum Credit Card

Hmm... That wasn’t my experience with DCU at all. They probably didn’t like the personal loans. Those tend to indicate financial problems. 

 

They gave me a $1K SL on my Platinum card because I had 31.7% usage reporting with NFCU on my Platinum I got in December (balance transfer) but they didn’t say anything about my other credit lines which are multiple times my annual income. They required POI in the form of my SSDI award letter for the year and approved me. 


Scores 1/2019:
Scores 8/2019:

Hover over my cards to see my limits!
Goal cards:
Message 6 of 17
Established Contributor

Re: Digital Credit Union Visa Platinum Credit Card


@9ninne wrote:

I live in Orange County CA and I app'd on 2/27/19 - I was denied. 

I called their Loan Servicing Department, and I spoke with a supervisor who explained the denial was due to me having too much available credit. She specifically said, "your available credit cannot exceed more than 25% of your income".

I'm a risk to their organization in other words.

I asked what it would take for an approval... I was told to payoff Lending Club and reapply in one year.

 


Wow.  Sorry to hear about the denial.  25% get real.  Find yourself a new lender that will be happy to do business with you.

 FICO 8
Message 7 of 17
Senior Contributor

Re: Digital Credit Union Visa Platinum Credit Card

"your available credit cannot exceed more than 25% of your income".

 

- I would have asked "So, DCU is your day job - are you a stand up comedian at night?"


Fico 08: 720/721/719 TU/EX/EQ
Message 8 of 17
Frequent Contributor

Re: Digital Credit Union Visa Platinum Credit Card

They gave me their non-rewards card with a 3K limit.

I was showing about 60 percent usage on both of my two main other credit cards and had about a 620 credit score. 

Message 9 of 17
Established Member

Re: Digital Credit Union Visa Platinum Credit Card

I have a $7900 NFCU Plat Visa, a $1000 NFCU CLOC, a $1000 Citi Secured AND a $1500 DCU Platinum Visa on a $18,336 annual income!!! ... for a ratio of 62% ... I call bs Smiley Very Happy

Message 10 of 17
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