Oppinions on qualification for DCU?

Anonymous · ‎10-08-2015

I was recently approved via hard pull for DCU Membership. My Equifax Fico 08 score is 669, and the 04 version is 670. I am currently waiting on Macys to report my credit limit increase of $14000 which will help lower my overall utilization down to less than 10%. I am hoping when it reports I will get at least a 5 point increase(keeping fingers crossed) so that I will have the minimum 675 needed to apply for their lowest auto finance rate of 1.49%. I would also like a credit card from them for their low APR rate. Do you fellow Ficoers think I stand a chance once my Fico 04 score hits 675?

History:

I have recently opened new accounts due to student loan, and car loan. Total of 4 new accounts in 6 months (2 of them are credit cards 5 months ago).

My utilization will be about 10% when I apply.

AAOA is 15 months, although I have installment loans that date back to 2005.

I have NO baddies or any late payments. My payment history is perfect.

I have 12 inquiries over 2 years(I know I know), 2 of them are from DCU themselves, lol.

My current APR for my $8,000 car loan is 5.99% and I want DCU's 1.49% plus their 8.49% credit card.

Do you think I stand a chance with all the inquires and short AAOA?

Thanks in advance for your input.

Anonymous · ‎10-08-2015

I'd think you're good re: the car loan. I don't know what they look for re: CC. I've found pretty good people on the phone with them before we got DH's car loan with them, answering questions about this and that requirement. I'd call and ask. You may get 'We can't say until we see you're big picture' or you may get someone who will speak in general terms. Worth a try.

So far I'm happy with them. I opened a savings account. DH got a car loan in July, and in conjunction we did checking and savings with him primary. I'm starting to switch over to them for more of my banking. I've had $500 sitting in my savings for a couple months (my account) and I got an offer for the CC. I got the $10k that the pre-approved offer said I was 'approved up to', but I still don't know my rate. (Approved yesterday).

Simply827 · ‎10-08-2015

To get the 8.49% you need a 730 score. At a 675 your APR would be 11.5%.

From 144k CL to BK7- 7.19.24

Anonymous · ‎10-08-2015

@Simply827 wrote:
To get the 8.49% you need a 730 score. At a 675 your APR would be 11.5%.

Good to know. THAT's the kind of info I got them to give me on the phone re: car loans. IIRC on the site there was a dial and it had subjective categories and gave different rates for car loans and I got them to tell me the cut points for each.