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AOD CLI $5k -> $25k (What an ordeal)

GatorGuy
Valued Contributor

AOD CLI $5k -> $25k (What an ordeal)

Middle of last year my wife applied for the AOD Visa Signature and was declined. The reason given was too high DTI despite having a high income and DTI <6%. Basically they had issues figuring out business income. On appeal they decided to give her a CL of $5k and said they will reevaluate it in 6 months. She was welcome to pay it off however many times she wanted a month. We probably paid it off 2 to 3x a month with a perfect payment history.

 

A month and half ago she applied for a CLI figuring it would be easy with her usage and payment history. She is denied again. Told she doesn't have any income. Despite her providing tax returns they decided her income was -$2k. They told her she can appeal the decision but if she loses they will close the account. After a long detailed explanation of our income situation which is really not that complicated, they deny her appeal.

 

She promptly files a complaint online and recieves a callback from the CEO who said she will take it very seriously and will personally look into it.

 

A few hours later she gets the call back that says she looked at her record and said it was a huge mistake. Their underwriting department needs re-education on handling business income and she is approved for the max $25k. 

 

It was a huge PITA even from the initial app but atleast they made good on it now. 

 

 

Message 1 of 18
17 REPLIES 17
Borealis
Regular Contributor

Re: AOD CLI $5k -> $25k (What an ordeal)

Wow that was a lot of bs they threw at you, glad you were able to wade through to the other side. I don't know if I would have the patience, especially after all the attitude. Congrats!

March 2021- FICO8: EXP 549 / TU 571
May 2023 - FICO8: EXP 789 / TU 792 / EQ BC8 816 / EQ9 850

Disco $4500 3/21 (Graduated 11/21)
Navy cashRewards Visa Signature $10,000 8/21 (Graduated 2/22)
PenFed Gold $6000 2/22
Chase Freedom Flex $7800 5/22
Citi Custom Cash $1500 8/22
SSL: NFCU $10,000/60 mo @2.25%APR 10/21 (91% paid)

Message 2 of 18
gdale6
Moderator Emeritus

Re: AOD CLI $5k -> $25k (What an ordeal)

Filing with the appropriate authority gets results, a big grats to your DW Smiley Happy

Message 3 of 18
ZackAttack
Established Contributor

Re: AOD CLI $5k -> $25k (What an ordeal)

Congratz OP for the challenge.

 

I know the road because DCU screwed me over on their credit card. I applied for the DCU 8.5% APR card on the online banking and was approved just days after getting a $8k loan. When the account showed up, it was the 11.5% APR card, the wrong card. I called in the rep said they will send it to the manager to get it readjusted (close, then open) ... the manager close it but never opened up the other card. -.-  I complained on twitter's DCU and got a manager's phone call that got it to straighten out for me.

MSGCU Rewards | $8kDiscover Cash It | $10kAmex BCP | $15kBest Buy Visa | $20kChase Freedom Flex | $8kDCU Platinum | $8kNFCU Plat | $30kNFCU MoreRewards | $18kAffinity FCU Cash Rewards | $5kAmazon Prime | 12.5kChase Unlimited | 16.4k
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$1,500 Discover Card 10/2/2020 - 8/18/2021
$3,500 Citi DC 10/14/2020 - 12/11/2021
$8,000 DCU Personal Loan 5-year 5.99% 10/2/2020 - 4/30/2021
$8,000 NFCU CashRewards 1/2/2021 - 7/30/2022
$5,000 MSGCU Personal Loan 3-year 7.75% 4/22/2022 - 10/30/2022
Message 4 of 18
Crowhelm
Established Contributor

Re: AOD CLI $5k -> $25k (What an ordeal)


@GatorGuy wrote:

Middle of last year my wife applied for the AOD Visa Signature and was declined. The reason given was too high DTI despite having a high income and DTI <6%. Basically they had issues figuring out business income. On appeal they decided to give her a CL of $5k and said they will reevaluate it in 6 months. She was welcome to pay it off however many times she wanted a month. We probably paid it off 2 to 3x a month with a perfect payment history.

 

A month and half ago she applied for a CLI figuring it would be easy with her usage and payment history. She is denied again. Told she doesn't have any income. Despite her providing tax returns they decided her income was -$2k. They told her she can appeal the decision but if she loses they will close the account. After a long detailed explanation of our income situation which is really not that complicated, they deny her appeal.

 

She promptly files a complaint online and recieves a callback from the CEO who said she will take it very seriously and will personally look into it.

 

A few hours later she gets the call back that says she looked at her record and said it was a huge mistake. Their underwriting department needs re-education on handling business income and she is approved for the max $25k. 

 

It was a huge PITA even from the initial app but atleast they made good on it now. 

 

 


Well, the CEO called her back, that by itself is impressive, and most importantly she made it right. And yes, I had hic-ups with credit unions, from small annoyances to big blunders but in the end, they always made it right and that is all I ask for. Are you listening, Chase? lol







Message 5 of 18
CreditAggie
Community Leader
Super Contributor

Re: AOD CLI $5k -> $25k (What an ordeal)

Congratulations on DW's 5X AOD CLI! That is quite an ordeal and I am glad everything worked out in the end.

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Message 6 of 18
GatorGuy
Valued Contributor

Re: AOD CLI $5k -> $25k (What an ordeal)


@Borealis wrote:

Wow that was a lot of bs they threw at you, glad you were able to wade through to the other side. I don't know if I would have the patience, especially after all the attitude. Congrats!


That was definitely my wife's perseverance and a little irritation.

 

I would have let it go too. 

Message 7 of 18
ZackAttack
Established Contributor

Re: AOD CLI $5k -> $25k (What an ordeal)


@GatorGuy wrote:

@Borealis wrote:

Wow that was a lot of bs they threw at you, glad you were able to wade through to the other side. I don't know if I would have the patience, especially after all the attitude. Congrats!


That was definitely my wife's perseverance and a little irritation.

 

I would have let it go too. 


Forgot to ask, you guys filed the complaint with NCUA just to get a response from AOD's CEO?

MSGCU Rewards | $8kDiscover Cash It | $10kAmex BCP | $15kBest Buy Visa | $20kChase Freedom Flex | $8kDCU Platinum | $8kNFCU Plat | $30kNFCU MoreRewards | $18kAffinity FCU Cash Rewards | $5kAmazon Prime | 12.5kChase Unlimited | 16.4k
Interested/Coming Soon...
USAA Cashback Rewards Plus AmexBOA Business Unlimited Cash RewardsFinance/Lease Car

Loans
Ford Credit Car Loan 2-year 6/7/2021 ($241.96/month)
Closed
Michigan Schools & Gov't CU Titanium 1/4/2019 - 10/2/2020
Ford Credit Car Loan 3-year 7/31/2018-6/6/2021
$1,500 Discover Card 10/2/2020 - 8/18/2021
$3,500 Citi DC 10/14/2020 - 12/11/2021
$8,000 DCU Personal Loan 5-year 5.99% 10/2/2020 - 4/30/2021
$8,000 NFCU CashRewards 1/2/2021 - 7/30/2022
$5,000 MSGCU Personal Loan 3-year 7.75% 4/22/2022 - 10/30/2022
Message 8 of 18
Elpadrino1
Valued Contributor

Re: AOD CLI $5k -> $25k (What an ordeal)

Congratulations on the AOD x5 CLI!!

Message 9 of 18
MasonK
Frequent Contributor

Re: AOD CLI $5k -> $25k (What an ordeal)

Sorry to hear that you had to go through those hoops to get the approval, but glad it worked out finally.

1/1/16 FICO8 Scores: EX: 407, EQ: 403, TU: 455
1/1/23 FICO8 Scores: EX: 832, EQ: 820, TU: 834
FICO9 EX: 818
Total Revolving Limits: $131,800

Message 10 of 18
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