@ptatohed wrote:
@CreditCobra wrote:
@Crowhelm wrote:
@CreditCobra wrote:Update #1 - I've been approved to join AODFCO! Your goals can come true, I'm living proof.
Still haven't been contacted about funding the account, but it was late in the day when I got approved, so likely tomorrow.
Still waiting on the Signature Visa, but even if I don't wind up getting that right now, I can always try again down the road. Either way, this is progress.
Awesome, congrats. One down, one to go. From what I read here I decided to app for the card late next year. Age some of the recent new accounts. But I hope one advantage I have is that we only keep money with credit unions and I can offer references so to speak. If they want it. But even if they don't care about that they should feel good that my wife and I are credit union people. And I could be totally out to lunch on that one as well, lol. I just know credit unions network together and it is easy to make regular transactions at a different credit union if you are either out of town or like in our case, moved away. So as far as funding your account, that could probably be done at a local credit union that is part of the CU network.I was able to fund the AOD Savings account with my Navy Fed debit card. Only put $25 into it to fund it, but since then I was able to get set up with the AOD online banking and figure out the account numbers for my new AOD Gold Checking (as I'm over 50) and Savings accounts. I've since transferred some additional funds from Navy Fed to them as well. Still haven't heard back yet about the AOD Signature Visa, but fingers crossed it gets approved. Worse case scenario is I wait six months or a year and re-apply. Still hopeful and I'll post here when I know their decision. I think the only thing that could likely mess this up is that I have too many recently opened accounts.
Congrats! Exciting! Step by step, you're getting there. I too funded my AOD savings with a credit card. My citi DC. I was flustered during the phone call and didn't give it much thought so I only did $25 but later it hit me. This is basically a free cash advance! I wish I had funded more, get my 2% CB with citi, and have the cash sitting in my account. Oh well, still just happy to have the AOD!
Mine was marked as a cash advance which too be honest it is, however I paid it off immediatly. The goal was to get the cashback, which I got on $500 and no interest charge.
@Remedios wrote:
@ptatohed wrote:I wish this forum wasn't so quick to lock threads. I would have liked to keep adding and updating my original AOD thread. Now I have to tack my input onto other's threads. I am a moderator on a car forum and I rarely lock threads. I find value in keeping them open.
Anyway, something weird happened. I got a 100% duplicate AOD card in my name a few days ago. And, we have not received my wife's. So, I am assuming there was an error and, instead of sending my wife's card (authorized user), they sent me a duplicate?
Application threads are not journaling threads past the approval stage (if it happens).
Once someone is approved, they are encouraged to start an approval thread where they can share DPs, ask additional questions, etc.
If a problem arises later, that's what Credit Cards and General Credit forums are for depending on a nature of your problem.
You chose to share details of your application prior to the approval, but you also chose not to start your own approval, effectively limitting your options to continue discussuing your approval/issues related to your approval.
Perhaps a better approach would be to start new thread and ask your questions, there is only so much piggybacking one can do before it's considered thread bombing.
You're free to moderate car forum as you see fit but this is not car forum. In the future, if you have a question on how/why forum is moderated, you're welcome to utilize three dots in the right upper hand corner and ask your question, give suggestions, request clarification.
Jumping in other threads to air grievances on that particular topic is covered HERE
Ok
]
;
;
;
;
;
;
;
Well, today was the day, and not the news I was hoping for. The Visa Signature has been denied.
Here's some data points:
They pulled Equifax FICO 5 which was 780. For reference, my Equifax FICO Bankcard Score 8 was 807 and my Equifax FICO Score 9 was 816 at the time.
Also at the time of this application, for inquiries (on Equifax), I was 0/6, 1/12, 2/18, and 4/24. New accounts were 1/6, 4/12, 5/18, and 8/24.
The official reasons stated for the denial were:
- Number of recent inquiries on credit bureau report
- Time since most recent account opening is too short
- Length of time accounts have been established
- Too many accounts recently opened
I do have a Chapter 13 in my past, but it's no longer on my credit reports. Although that was disclosed in the application process, they never made mention of it.
So, yeah... not was I was hoping for, but I have established accounts at AOD, and set up some automated transfers, so at least that hurdle is overcome. I've also left a bicycle association (NEABA), but I'm thankful that they could get me in the door. Time to set a reminder for at least six months to a year and apply again. Back to the garden.
Hope this information is helpful to someone.
@CreditCobra wrote:Well, today was the day, and not the news I was hoping for. The Visa Signature has been denied.
Here's some data points:
They pulled Equifax FICO 5 which was 780. For reference, my Equifax FICO Bankcard Score 8 was 807 and my Equifax FICO Score 9 was 816 at the time.
Also at the time of this application, for inquiries (on Equifax), I was 0/6, 1/12, 2/18, and 4/24. New accounts were 1/6, 4/12, 5/18, and 8/24.
The official reasons stated for the denial were:
- Number of recent inquiries on credit bureau report
- Time since most recent account opening is too short
- Length of time accounts have been established
- Too many accounts recently opened
I do have a Chapter 13 in my past, but it's no longer on my credit reports. Although that was disclosed in the application process, they never made mention of it.
So, yeah... not was I was hoping for, but I have established accounts at AOD, and set up some automated transfers, so at least that hurdle is overcome. I've also left a bicycle association (NEABA), but I'm thankful that they could get me in the door. Time to set a reminder for at least six months to a year and apply again. Back to the garden.
Hope this information is helpful to someone.
Sorry about your denial. I have a theory about AOD. They really are trying to serve the people that bank with them first and foremost so that is why I opened savings and checking and will wait at least until all new accounts are one year old. Also why I opted for a one year membership wirh the cyling club so it doesn't look I am only doing it to gain membership. Obviously I am talking about my situation and others might have immediate or no success at all. But longer positive relationships are always a plus no matter what.
@CreditCobra wrote: Well, today was the day, and not the news I was hoping for. The Visa Signature has been denied. Here's some data points. They pulled Equifax FICO 5 which was 780. For reference, my Equifax FICO Bankcard Score 8 was 807 and my Equifax FICO Score 9 was 816 at the time. Also at the time of this application, for inquiries (on Equifax), I was 0/6, 1/12, 2/18, and 4/24. New accounts were 1/6, 4/12, 5/18, and 8/24.
The official reasons stated for the denial were:
- Number of recent inquiries on credit bureau report
- Time since most recent account opening is too short
- Length of time accounts have been established
- Too many accounts recently opened
Ouch, @CreditCobra! 
Sorry for the denial but thanks very much for passing your data points back to the community. Yes, it definitely sounds like they have become much more picky than they were during the 2020 rush, @FinStar pointed out. But I also agree that with some gardening, you have a great chance of passing their hurdles in another six months or a year.
@CreditCobra wrote:Well, today was the day, and not the news I was hoping for. The Visa Signature has been denied.
Here's some data points:
They pulled Equifax FICO 5 which was 780. For reference, my Equifax FICO Bankcard Score 8 was 807 and my Equifax FICO Score 9 was 816 at the time.
Also at the time of this application, for inquiries (on Equifax), I was 0/6, 1/12, 2/18, and 4/24. New accounts were 1/6, 4/12, 5/18, and 8/24.
The official reasons stated for the denial were:
- Number of recent inquiries on credit bureau report
- Time since most recent account opening is too short
- Length of time accounts have been established
- Too many accounts recently opened
I do have a Chapter 13 in my past, but it's no longer on my credit reports. Although that was disclosed in the application process, they never made mention of it.
So, yeah... not was I was hoping for, but I have established accounts at AOD, and set up some automated transfers, so at least that hurdle is overcome. I've also left a bicycle association (NEABA), but I'm thankful that they could get me in the door. Time to set a reminder for at least six months to a year and apply again. Back to the garden.
Hope this information is helpful to someone.
Hey I think you win on the list of denials compared to when I tried (maybe around Oct 2020). I didn't even get a counteroffer.
I haven't tried on taking another stab at AOD.
@CreditCobra wrote: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.
I was just looking at your cards and saw that you got the Active Cash and Navy Federal More Rewards Card just last month. I'll bet that was the reason for AOD saying no at this time. Probably along with your relatively low income as well. I will be at least 0/6 for new accounts before I apply because others seem to indicate that this is important to AOD, along with sufficient income and low DTI.
@Crowhelm wrote:
@CreditCobra wrote: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.
I was just looking at your cards and saw that you got the Active Cash and Navy Federal More Rewards Card just last month. I'll bet that was the reason for AOD saying no at this time. Probably along with your relatively low income as well. I will be at least 0/6 for new accounts before I apply because others seem to indicate that this is important to AOD, along with sufficient income and low DTI.
The Active Cash is on the EQ credit report, but the Navy Fed More Rewards hasn't reported yet, so they didn't even see that as the hard pull was on TransUnion. Also, I don't think that income was the issue, as they didn't mention it, and my DTI is very low. It was likely just the ew accounts and inquiries. I'll try again in a year, I'm good for now.
Also, I'd like to thank everyone that commented and kudo'd I've really enjoyed this board and all the discussions here.