BCU approval train

[Jnbmom]

I also found their income screen rather odd. I have never put in my hourly rate lol which varies as I work 2 jobs and one has several shift differentials was harder to estimate lol .

[CreditCuriosity]

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@Jnbmom wrote:

I also found their income screen rather odd. I have never put in my hourly rate lol which varies as I work 2 jobs and one has several shift differentials was harder to estimate lol .

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Why i choose to do application over the phone as personal touch with all very professional people.  Just said what I wanted and submitted instant approval although was conditional and then eventually after poi went through was more than I asked for which was a nice touch and maybe a peace offering for me getting it right to them and not complaining about it as had to upload it twice as they are able to tell if the pdf was a print as pdf which wasnt accepted as did that at first as that can be tampered with vs a normal straight download pdf once i did that about hour and half later is when got approval higher than asked.  maybe an olive branch lol for extra hoops i had to jump through.

[Jnbmom]

I hate talking on the phone not as bad as hubby 😂, but I do when I have to but prefer to do things online .

Just thought their income screen was strange lol 

[user979797]

Wow what a terrific increase Congrats to you  

[TheFIGuy]

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@CreditCuriosity wrote:

I speculate alot more people are going to be if not already asked for POI as I am into the 800's on FICO's and 790 on their V4 I guess although thought was in 800's as well, but apparently not.  Ya they have been burnt before and guy is extremely nice I am working with he made it clear that UW isn't about to go through blatant fraud again.  As mentioned very nice, but keeping some stuff close to his chest as this new program to them exposes them to a lot more bad risks, etc.  I specuate some already approved will be hit with POI requests and certainly the new people that are applying today/tomorrow etc will certainly be hit with them if they are eligible through this program my person said other methods they don't care he eluded to, but this program they have a hawks eye on right now in a nutshell.

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I believe I figured out why they're so risk-averse regarding fraud more than most credit unions (CU) we have seen on myFICO forums. Target CU, better known as BCU, had a Target Department Store Credit Card Fraud Scheme in and around 2018 that led to some heavy prosecutions.  IIRC Target CU is/was the issuer of Target REDcards, which were used in the scheme.

I could do more digging as that's what I'm good at <wink>, but I think this might be the reason they're so sensitive, and rightfully so!

That's my 2 cents, and I 100% could be wrong!

@Jnbmom 

[Brian_Earl_Spilner]

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@TheFIGuy wrote:

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@CreditCuriosity wrote:

I speculate alot more people are going to be if not already asked for POI as I am into the 800's on FICO's and 790 on their V4 I guess although thought was in 800's as well, but apparently not.  Ya they have been burnt before and guy is extremely nice I am working with he made it clear that UW isn't about to go through blatant fraud again.  As mentioned very nice, but keeping some stuff close to his chest as this new program to them exposes them to a lot more bad risks, etc.  I specuate some already approved will be hit with POI requests and certainly the new people that are applying today/tomorrow etc will certainly be hit with them if they are eligible through this program my person said other methods they don't care he eluded to, but this program they have a hawks eye on right now in a nutshell.

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I believe I figured out why they're so risk-averse regarding fraud more than most credit unions (CU) we have seen on myFICO forums. Target CU, better known as BCU, had a Target Department Store Credit Card Fraud Scheme in and around 2018 that led to some heavy prosecutions.  IIRC Target CU is/was the issuer of Target REDcards, which were used in the scheme.

I could do more digging as that's what I'm good at <wink>, but I think this might be the reason they're so sensitive, and rightfully so!

That's my 2 cents, and I 100% could be wrong!

@Jnbmom 

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TD Bank is and was the issuer forr Target cards. BCU is just the credit union Target uses for their employees as a benefit. 

[TheFIGuy]

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I believe I figured out why they're so risk-averse regarding fraud more than most credit unions (CU) we have seen on myFICO forums. Target CU, better known as BCU, had a Target Department Store Credit Card Fraud Scheme in and around 2018 that led to some heavy prosecutions.  IIRC Target CU is/was the issuer of Target REDcards, which were used in the scheme.

I could do more digging as that's what I'm good at <wink>, but I think this might be the reason they're so sensitive, and rightfully so!

That's my 2 cents, and I 100% could be wrong!

@Jnbmom 

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TD Bank is and was the issuer forr Target cards. BCU is just the credit union Target uses for their employees as a benefit. 

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I stand rightfully corrected! Thanks for the fact-check!

[Beefy1212]

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@TheFIGuy wrote:

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@bigpoppa09 wrote:

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@CreditCuriosity wrote:

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@bigpoppa09 wrote:

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@CreditCuriosity wrote:

Congrats.. Pulled the trigger asked for 25k on phone rep. as he wrote me today and said memberhsip was cleared up as validated.  He did warn me before pulling the might request DL, SS, and POI.  I said that is fine.  Just got a call they want DL, SSN and most recent paystub..  Will get that to them tonight or tomorrow I suppose.  I am first to get hit with POI it appears

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Congrats on your soon to be approval its weird they asked you for POI.

I have a question if any one can answer it do they use Fico for lending decisions? The score in your account is Vantage AKA FAKO.

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Nope I asked as 791 came back and believe he said vantage 4... Strange places using that other than Sync esp such a big CU

BTW mine was instant approval based on that verification/uw came back with which was DL, SS card and Last Paycheck which I just sent them

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Surprised like u mentioned there using Vantage instead of Fico.🤔

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RBFCU uses EX Vantage, so I'm not too surprised, honestly. IIRC, they receive historical information (UTIL%) from certain Vantage scores, which might be more helpful to them. It could also just be a cheaper solution, idk.

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I think with F10T and VS4 taking over the mortgage scoring you are going to see a trickle and then a flood of lenders deciding to just switch everything over at the same time.

[everest]

Many congrats on yours and DH's BCU approvals! 🎉

[Janneman]

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@CreditCuriosity wrote:

Congrats.. Pulled the trigger asked for 25k on phone rep. as he wrote me today and said memberhsip was cleared up as validated.  He did warn me before pulling the might request DL, SS, and POI.  I said that is fine.  Just got a call they want DL, SSN and most recent paystub..  Will get that to them tonight or tomorrow I suppose.  I am first to get hit with POI it appears

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Yeah, it does seem like it that you are the first to get hit with POI...dont know if its profile specific or CL higher than $10k or we will not asked if we put the application thru the loan officer over the phone compared to by our own online....dont know...not enough datapoint so far...You said that you filed application for the card over the phone with the rep, right? Do you think it would make any difference to apply for the card over the phone vs doing it our own online?

I applied for membership and CC in December of last year online...got approved for $25k...but my credit card, all savings and checking account and membership got shut it down in Februrary of this year as account went for review itself after 3 months later. They demanded explanation and documentation on how I was eligible for the membership. I explained them truthfully which was that they mistakenly thought that I worked for Target to be eligible for their membership but I never said that I worked for Target, rather I mentioned that Target is one of our business partners...

Moving forward, now when the membership is open to everyone then end of May...last month I signed up Life..money...that to be eligible and joined them, but didnt apply for their credit card as I have been in garden until this morning...So, I have been talking today with representative assigned to me but she doesnt seem to offer me anything as she is saying that I need to apply for the card to see if I get approved or not, and for how much...and that they would do HP from TU...The only reason I was talking with them today because a few memebers reported getting the card thru SP and without POI while dealing with an assigned rep...but my rep doesnt seem to be helpful...Might apply tomorrow by my own online if she wouldn't help...