My Credit Union is kinda disappointing. (Golden 1)

[Steveo777]

So I have banked with Golden 1 for 6 years and have maintained a checking account in good standing for that entire time. They recently began offering a credit score, visible when I log into my mobile app. Granted, I do have a BK7 which was discharged in August 2021. That has not stopped me from getting everything I have apped for so far, except their card. The day after my discharge I asked my other credit union to increase the limit on the Visa card I reaffirmed with them and they gave me a CLI of $1000. Next Cap One said I was pre-approved and they gave me a QS1 with a $3k SL. Upgrade Visa card gave me $10k, Navy FCU $600 secured card and finally Mercury gave me a $3k SL.

When Golden 1 CU flashed that 731 TU Vantage 3.0 score at me, I thought well heck, I might as well get a card with my own CU. Nope! They turned me down with a quickness and I reconned, they turned me down again. They told me my score is 655 and their minimum to qualify is 660. Fine! The problem I have with it is that they tell me I have a 731 TU Vantage, then they go and pull an Experian Vantage 2.0

If I had seen the score they actually used, I would have refrained from that app and not wasted the hard pull. Grrrrrr!

I know I sound like I'm grumbling, but I'm pretty happy with my progress so far, overall. lol

[Anonymous]

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@Steveo777 wrote:

So I have banked with Golden 1 for 6 years and have maintained a checking account in good standing for that entire time. They recently began offering a credit score, visible when I log into my mobile app. Granted, I do have a BK7 which was discharged in August 2021. That has not stopped me from getting everything I have apped for so far, except their card. The day after my discharge I asked my other credit union to increase the limit on the Visa card I reaffirmed with them and they gave me a CLI of $1000. Next Cap One said I was pre-approved and they gave me a QS1 with a $3k SL. Upgrade Visa card gave me $10k, Navy FCU $600 secured card and finally Mercury gave me a $3k SL.

When Golden 1 CU flashed that 731 TU Vantage 3.0 score at me, I thought well heck, I might as well get a card with my own CU. Nope! They turned me down with a quickness and I reconned, they turned me down again. They told me my score is 655 and their minimum to qualify is 660. Fine! The problem I have with it is that they tell me I have a 731 TU Vantage, then they go and pull an Experian Vantage 2.0

If I had seen the score they actually used, I would have refrained from that app and not wasted the hard pull. Grrrrrr!

I know I sound like I'm grumbling, but I'm pretty happy with my progress so far, overall. lol

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Are you sure about this? I know you can reaffirm a car loan, a mortgage but a credit card? from what I read in the past, credit cards are shut down once you file a BK. I had no idea that a CC could survive a BK.

Live and learn.

Thanks

Mark

[Steveo777]

@Anonymous, Absolutely. I did this post 341 meeting. I simply asked my attorney to help me do it and he had me contact the credit union and get the ground rules for the reaffirmation, ie., that they would leave my account intact and not close it, or reduce the credit line if I reaffirmed. This was an account I had for a decade and been a member there for 30 years +. So, then next they granted the CLI I asked for. I had not ever been late with them, ever. The balance I reaffirmed was not large, so it made sense. Most major banks will shut down credit cards, but some credit unions are more lenient. I had used my card throughout the whole process, for essentials like gas and groceries and just kept charging and paying, never missing a beat.

[Andy77]

I have a Visa with Golden 1 5k limit and bk dishcarged May 2020. When I applied for CLI's in the past the denial letters I got all referenced them using Fico Score 2. I was told by an underwriter that that score needs to be a 680 to get approved for their card.

I don't have any reason to believe that Golden 1 uses anything but Fico score 2 to approve and deny based on what the underwriter told me on the telephone.

Hope this helps

[Steveo777]

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@Andy77 wrote:

I have a Visa with Golden 1 5k limit and bk dishcarged May 2020. When I applied for CLI's in the past the denial letters I got all referenced them using Fico Score 2. I was told by an underwriter that that score needs to be a 680 to get approved for their card.

I don't have any reason to believe that Golden 1 uses anything but Fico score 2 to approve and deny based on what the underwriter told me on the telephone.

Hope this helps

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I have had a meeting with a lady at Golden 1 to open a CD. She told me I was declined because I fell under 670 (655 was my actual) Their scoring model was a Vantage 2.0 Experian. Also said I would qualify for a car loan, but I don't need a car right now.