First time posting, so please forgive any breaches of etiquette.
On 11/20/2021 I applied to AOCFCU for a savings account and Signature Visa. Since I'm out of area, I also joined the Northeast Alabama Bicycle Association about five minutes before applying to AOC. I only requested a $6,000 credit line as I saw no point in asking for more. Per Credit Karma, AOD did a hard inquiry on Equifax that same day.
On 11/23/2021 I received the email via DocuSign and returned back all the information requested (including the selfie) that same day. Ever since then, I've been waiting (impatiently).
Submitted Applications:
- Membership (Regular Savings Account) - Under Review
- AOD Visa Credit Cards with a credit limit of $6,000 at 7.490% - Pending Follow-up
Some data:
At the time of the application, my new accounts were 1/6, 4/12, 7/18, and 9/24. My inquiries (on Equifax) were 0/6, 1/12, 2/18, and 5/24. I know they tend to look at an Equifax FICO 5, but since I don't have that one handy, my FICO Bankcard Score 8 was 801, and FICO Score 9 was 816. Vantage Score 3.0 was 771 (not like that one matters). I'm retired on Social Security Disibility and have an anual income of just north of $33,000. I did have a bankruptsy (chapter 13) years ago now. It doesn't show up on my credit report any longer, but I did disclose that to AOD in the application.
I know that it's been a holiday week when most of this happened, but I was wondering what others thought my chances would be. Additionally, I'm wondering what might be good next steps if an approval isn't in the cards.
Welcome to My Fico Forums, @CreditCobra. 
First, this is a tiny credit union and they manually process applications. So yes, you can bet that the holiday weekend is probably the reason you were left hanging. Be patient and I imagine they will be in touch soon.
As for your odds, I think you have a decent chance of approval, but keep in mind that if you don't get approved for the $5K minimum, you might get the regular Visa card which doesn't earn the 3% cash back rewards. It's always good to be prepared for that possibility. Your FICO scores seem high enough for the Visa Signature approval. The income of $33K is probably just fine as long as your debts are low or none. (They have seemed sensitive to debt with some applicants.) The BK probably won't spook them if it's already fallen off your credit report. I'm probably most concerned about the credit-seeking aspect, and that could inhibit your starting limit if not prevent approval. Early-on (April 2020), they weren't quite as strict as they became later in the approval process for the 3% card. With your being 4/12 and 9/24, that may be too much for them right now. If you're denied, just continue using the banking products and apply again in 6 to 12 months. It's a great card and worth working for it!
Keep us informed about how it turns out!
@Aim_High wrote:Welcome to My Fico Forums, @CreditCobra.
First, this is a tiny credit union and they manually process applications. So yes, you can bet that the holiday weekend is probably the reason you were left hanging. Be patient and I imagine they will be in touch soon.
As for your odds, I think you have a decent chance of approval, but keep in mind that if you don't get approved for the $5K minimum, you might get the regular Visa card which doesn't earn the 3% cash back rewards. It's always good to be prepared for that possibility. Your FICO scores seem high enough for the Visa Signature approval. The income of $33K is probably just fine as long as your debts are low or none. (They have seemed sensitive to debt with some applicants.) The BK probably won't spook them if it's already fallen off your credit report. I'm probably most concerned about the credit-seeking aspect, and that could inhibit your starting limit if not prevent approval. Early-on (April 2020), they weren't quite as strict as they became later in the approval process for the 3% card. With your being 4/12 and 9/24, that may be too much for them right now. If you're denied, just continue using the banking products and apply again in 6 to 12 months. It's a great card and worth working for it!
Keep us informed about how it turns out!
Thanks @Aim_High,
I'll post whatever happens, and I really appreciate the feedback. If I can't get the Visa Signature, I'd be willing to take the Platinum card (or even none at all) and try and build a relationship with them and give it another shot in a year.
Left out my DTI, it's low. I own my home outright, so it's just whatever taxes and insurance, but I do have a car payment, $500 a month.
Good luck!
When I talked to the rep on the phone to fund my savings account a few weeks ago, she said she would submit for approval and I can expect the card in 7 - 10 days. Well, yesterday I received a letter stating I was approved and my card ending in #### is now active and that my card should arrive within two weeks. I started this whole process 3 - 4 weeks ago. It's a slow process!
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@ptatohed wrote:When I talked to the rep on the phone to fund my savings account a few weeks ago, she said she would submit for approval and I can expect the card in 7 - 10 days. Well, yesterday I received a letter stating I was approved and my card ending in #### is now active and that my card should arrive within two weeks. I started this whole process 3 - 4 weeks ago. It's a slow process!
Thanks, I sent them an email just checking in. Don't want to be a pest, but I thought a week was a suffiueient wait to simply check in. Seems liike this card is well worth the wait.
Many times I felt like reaching out to them but I fought back the urge. It's possible the rep you were assigned to took all of last week off. Hang in there. I was approved for membership within days, the credit card took longer. Then I realized, either they didn't have an authorized user option on the application or I somehow missed it. So, after card approval, things were delayed again while my wife submiited her requested items.
Yes, definitey worth the wait. If I knew before I had a snowball's chance of getting this card, I would have applied much sooner!
@ptatohed wrote:Many times I felt like reaching out to them but I fought back the urge. It's possible the rep you were assigned to took all of last week off. Hang in there. I was approved for membership within days, the credit card took longer. Then I realized, either they didn't have an authorized user option on the application or I somehow missed it. So, after card approval, things were delayed again while my wife submiited her requested items.
Yes, definitey worth the wait. If I knew before I had a snowball's chance of getting this card, I would have applied much sooner!
Does an AU get their own card and number, just share the same credit line? Sorry, I don't know how an authorized user works. Appreciate your feedback on this.
@CreditCobra wrote:
@ptatohed wrote:Many times I felt like reaching out to them but I fought back the urge. It's possible the rep you were assigned to took all of last week off. Hang in there. I was approved for membership within days, the credit card took longer. Then I realized, either they didn't have an authorized user option on the application or I somehow missed it. So, after card approval, things were delayed again while my wife submiited her requested items.
Yes, definitey worth the wait. If I knew before I had a snowball's chance of getting this card, I would have applied much sooner!
Does an AU get their own card and number, just share the same credit line? Sorry, I don't know how an authorized user works. Appreciate your feedback on this.
No prob. My wife and I have almost every credit card together (she has a hotel card or two I have no interest in). Usually I am the applicant and she is the authorized user. In almost all circumstances, we share the same number and always the same credit line. I think once we had different numbers but I forget which card that was.
Do you know if we can cancel the bicycle association after we get our cards? I assume AOD doesn't ask for regular membership proof?
@ptatohed wrote:Do you know if we can cancel the bicycle association after we get our cards? I assume AOD doesn't ask for regular membership proof?
To the best of my knowledge (from reading a TON of posts on AOD), once you're in, you're in for life. So yeah, you can leave the bicycle association. Same would be true if you joined a CU that required you to live in a specific area, and then moved away. You'd still be a member if you chose to remain one.