Goodbye to Logix Federal Credit Union

[Nyrell]

I opened up a new checking and saving account with Logix and was invited to meet with a personal banker to discuss loan products. 

I was told I could apply for the Logix Mastercard which is 0% interest for 15 months and doubles as a source of overdraft for the checking account.  

The banker said she could use my checking account application Experian FICO score of 774 to submit the application to Burbank where they give a 5-minute decision in 5 minutes or less.

The decision was NO.  Apparently the fact that I opened a new cc account with Chase and a loan with Lending Club within 6 months is a bad thing.  Also, they did a hp w/Experian.

There was no discussion that I have a substantial income with no baddies ever and a 3% utilization.  No discussion of my brokerage or savings accounts or other assets I hold.  No questions of anything.  Just NO.  So much for the customer-focused experienced.

For a Credit Union that brags to be so people-oriented it's just another bunch of marketing crap.  I was in the branch and the banker was not real discreet while others were in earshot.  I left feeling humiliated but I closed my accounts.  They stink!

[AverageJoesCredit]

Unreal. That kind of treatment is ridiculous and i would of done the same. Just find a CU that works for you and youll be in a better point

[Anonymous]

Don't feel bad...I have banked with PNC for 5 years, app'd for one of their cards recently, the banker I was sitting with in the branch said he'd let me know either way.  He never called.  10 days I later I called them, turns it it was declined the same day I applied and the branch manager either didn't want to give me bad news or just couldn't be bothered to respond.  

I didn't pull my checking & savings...more trouble than it's worth.  If they don't want my CC business, everybody else does, so no hard feelings.

[heyryan]

I tried to get in with Logix a few years ago and had a similar experience. They seemed unpleasant to deal with from the start which should have been a red flag, but I continued on anyway. In the end I told them to just withdraw everything and went happily elsewhere. 

If you're in SoCal, try Premier America FCU or Burbank City - both seem pretty decent, and have interesting credit products.