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State Department Federal Credit Union Credit Card question?

Contributor

State Department Federal Credit Union Credit Card question?

I applied for the SDFCU credit card and was denied.  I do have one collection, was late on a loan around december last year and have a bunch on credit inquiries this last couple of months.  Should I recon?  Anybody has been successfully getting the card after being denied?  I was just approved for a $13,000.00 car loan with a 5.4 apr.  Thoughts?


Message 1 of 6
5 REPLIES
Established Contributor

Re: State Department Federal Credit Union Credit Card question?

Never any harm in trying to recon, but beware some places pull again for recon.

 

You could always get their secured cc to start to build history with SDFCU.

 

Otherwise, I'd wait 6 months/no inqs to try again.  In the meantime, pfd that collection and try to goodwill that late.

 

 

Message 2 of 6
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Senior Contributor

Re: State Department Federal Credit Union Credit Card question?

I'd wait until your lates were at least two years old before tangling with SDFCU again.
Out of all the CUs. You picked one of the most conservative when it comes to CCs.
Stick with the larger banks and CUs for now. Big banks seem less adverse to a dirty file verses small CUs. I know all too well. I've been denied by several of the smaller ones over the years. That's with a clean file.😉




Message 3 of 6
Valued Contributor

Re: State Department Federal Credit Union Credit Card question?


@Gmood1 wrote:
I'd wait until your lates were at least two years old before tangling with SDFCU again.
Out of all the CUs. You picked one of the most conservative when it comes to CCs.
Stick with the larger banks and CUs for now. Big banks seem less adverse to a dirty file verses small CUs. I know all too well. I've been denied by several of the smaller ones over the years. That's with a clean file.😉

That being said, I did get a Visa from Apple FCU (Northern VA) last year with a BK on the reports, but then Apple is well-known for being BK-friendly for its relatively small size.


Ch 7 BK discharged 11/28/14, credit rebuild well advanced. FICO 8/10/18:TU 664 FICO 8 or 687 FICO 9/EX 697 FICO 8/EQ 685 FICO 8 or 682 FICO 9 (Penfed 6/12), VS 3.0 8/6/18: TU 708/EX 701/EQ 705. $81,100 revolving credit as of 7/11/18; $4.8k Discover It, $5k Walmart Store Card, $5.5k Discover It #2 (new 3/12/18), $6k Paypal 2% CB MC, $6k Amazon Prime Store Card, $7k Apple FCU Platinum Visa, $7k Penfed Power Cash Rewards Visa, $8.8k Overstock Store Card, $15K Care Credit, $16K Cap One QS Rewards Visa Signature, $10k PenFed used car loan, $5k Navient student loan, $12.7k Lending Club loan. Gardening (except CLI's) from 7/3/18 to at least 1/3/18. 21 HP inqs total as of 7/30/18: 9 TU, 8 EQ, 4 EX (about half over 1 year old).
Message 4 of 6
Regular Contributor

Re: State Department Federal Credit Union Credit Card question?

I have been with the State department for going on 2 years. I've tried twice to get one and was denied...recon'ed after the second one and they pulled me again and denied. They finally sent me an offer for their card, so I app'ed and got denied...so I'm done with their card.

What I know from working with them is they,  A. don't like new accounts, and B. Don't like inq's

So I found there are plenty of really good cards out there and to pick ones that want your business. 

EQ - 717 TU-724 EX -725>
Message 5 of 6
Regular Contributor

Re: State Department Federal Credit Union Credit Card question?

While there are not as many threads on SDFCU, what is discussed is consistent:

 

  1. Banking with SDFCU is a long-term strategy and churners need not apply 😂
  2. Preferred profiles: High incomes, high scores, no recent derogs (minimum of 36-48 months), and low DTI (and sometimes available credit)
  3. POI is often required
  4. You are better offer waiting for pre-approved offers if you don't hit all of the criteria highlighted in #1

 

Some may get around #1 by living/working in SDFCUs service area so you can visit a branch and work with a bank rep to push an app or recon through. 

Credit status: Resetting CC holdings + PIF + 0% float strategy
Financial independence (FI): maxed retirement accts + increasing non-retirement savings
Message 6 of 6