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Elan Max Cash Preferred Visa Approved

4sallypat
Valued Contributor

Re: Elan Max Cash Preferred Visa Approved


@Curious_George2 wrote:

@4sallypat wrote:

How do you get "membership" thru another CU ?


The relationship between Elan and the banks, credit unions and other organizations it issues cards for is one that I struggle to explain clearly. 

What I mean, and what I did, is that I found a CU that uses Elan to issue its credit cards, then I joined that CU in the usual way, deposited a little cash, waited several months to let it all age a bit, and eventually clicked the Credit Cards link on the CU's website. That prompted a warning that I was going to a third party's site -- Elan. From there, the application and everything else was Elan's. The only vestige of a connection to the CU was their logo at the top of some pages on the Elan site. 

It's not clear that being a member of such a CU has any bearing whatsoever on the chances of getting a card approved, or the terms of the approval. This has been discussed at some length in @Aim_High's master thread, with no clear conclusions.Plenty of posters have received MCP cards bearing logos of FIs they have zero connection to. I chose to proceed in a more conventional way, partly because having an account at the "partner" FI is necessary for receiving the rewards as a deposit straight into a bank account. 

I hope that answers your question. If I missed the point of it, please let me know. 😁


Yes, thank you for the explanation along with @Aim_High - I had no idea some banks and CU did this - guess I am still a credit newbie...

 

 

Message 11 of 24
M_Smart007
Legendary Contributor

Re: Elan Max Cash Preferred Visa Approved

@Curious_George2, Elan Max Cash Preferred is a nice CC  .. Congratulations!!

 

May I ask what Credit Union?  

Message 12 of 24
Curious_George2
Valued Contributor

Re: Elan Max Cash Preferred Visa Approved


@M_Smart007 wrote:

@Curious_George2, Elan Max Cash Preferred is a nice CC  .. Congratulations!!

 

May I ask what Credit Union?  


Thanks Smarty!

 

I prefer not to name the CU. Their geographic footprint is approximately the size and location of my kitchen. 😂


Message 13 of 24
cashorcharge
Senior Contributor

Re: Elan Max Cash Preferred Visa Approved


@M_Smart007 wrote:

@Curious_George2, Elan Max Cash Preferred is a nice CC  .. Congratulations!!

 

May I ask what Credit Union?  


LOL!  I see you @M_Smart007 .....HAHAHA....needing another?

 

That's terrific @Curious_George2 !! Congratulations on your ELAN Approval!! 🥂🎉👏🏻

Message 14 of 24
Anonymous
Not applicable

Re: Elan Max Cash Preferred Visa Approved

Congrats!

Message 15 of 24
KingRue8500
Valued Contributor

Re: Elan Max Cash Preferred Visa Approved

Congrats on your Elan Max Cash Preferred approval




Message 16 of 24
Curious_George2
Valued Contributor

Re: Elan Max Cash Preferred Visa Approved


@Aim_High wrote:

Congrats on a great Max Cash Preferred approval, @Curious_George2

Data points are also appreciated! 

I note that Elan tends to give a little higher SLs for many of our members and you got $20K versus $10K on C+.   Smiley Very Happy  

I'm glad my MCP thread has been so helpful to the community. 

What's your plan for using this one along with your Cash Plus? 

 

Snoopy_Charlie_Brown_Happy_Dance.jpg


Thanks! I don't have a detailed plan for how I will use the new card. I share your fondness for lender diversification and I have come to value flexible cash rewards with no categories or fixed categories that I use. This card and Cash+ both check those boxes. 

Every time I think I have The Plan worked out, something changes and I need (ok, want) to revise it. The emergence of Citi's Custom Cash was one such disruption, albeit a positive one. Another was my recent experience with Amex. In a mood to cut costs, I downgraded my Gold to Green. But then... (plot twist!) they dangled a generous 40k MR upgrade bonus just a few weeks later and now I'm back to the Gold.

I figured getting another two selectable 5% categories, on a no-AF card from a new-to-me lender will be helpful in any setup I choose. So, welcome to my wallet, MCP!


Message 17 of 24
ChargedUp
Senior Contributor

Re: Elan Max Cash Preferred Visa Approved


@Curious_George2 wrote:

I applied for Elan's Max Cash Preferred Visa, through a small, local credit union I joined a few months ago with a token amount on deposit. I answered the question about how much I have on deposit "here" with just that small amount. Received instant approval for $20k at their lowest advertised APR of 11.99%.

 

They pulled TU, which surprised me a little. All prior MCP apps I had seen from my state, California, resulted in an EX pull. Perhaps I should have expected TU, since that's what US Bank pulled for my Cash+ app six months ago. TU8 was 792. Util is 1%. New cards were 1/6, 1/12, 4/24. TU inquiries were 1/6, 1/12 and 3/24.

 

One thing about the application process surprised me. After the wheel of death spun for several seconds, up popped a screen that showed the SL and APR they were offering, and it gave me the choice of accepting or declining. I happily accepted. It wasn't apparent whether declining would have prevented the HP. 


(Edited to correct new card numbers. I was 4/24, not 2/24.)


First off, Congrats on the new Max Cash card!

 

Second, Elan has always been a solid TU user for me in Southern CA as well. I don't recall hearing of them using EX around here.

Message 18 of 24
LP007
Frequent Contributor

Re: Elan Max Cash Preferred Visa Approved


@Curious_George2 wrote:

@4sallypat wrote:

How do you get "membership" thru another CU ?


The relationship between Elan and the banks, credit unions and other organizations it issues cards for is one that I struggle to explain clearly. 

What I mean, and what I did, is that I found a CU that uses Elan to issue its credit cards, then I joined that CU in the usual way, deposited a little cash, waited several months to let it all age a bit, and eventually clicked the Credit Cards link on the CU's website. That prompted a warning that I was going to a third party's site -- Elan. From there, the application and everything else was Elan's. The only vestige of a connection to the CU was their logo at the top of some pages on the Elan site. 

It's not clear that being a member of such a CU has any bearing whatsoever on the chances of getting a card approved, or the terms of the approval. This has been discussed at some length in @Aim_High's master thread, with no clear conclusions.Plenty of posters have received MCP cards bearing logos of FIs they have zero connection to. I chose to proceed in a more conventional way, partly because having an account at the "partner" FI is necessary for receiving the rewards as a deposit straight into a bank account. 

I hope that answers your question. If I missed the point of it, please let me know. 😁


Hear hear. I too am contemplating Elan. Talking with the reps, they say it doesn't matter to them if you have an account. On the apps you can leave the 'relationship' box with a $0 and go finish the app.

 

I called the rep because I noticed that Elan was the 3rd party backing these beauties:

 

Connexus FCU Intro 0% APR on buys & BTs for 20 mos.

Spectra FCU...same.

Mechanic's Bank...same.

Busey Bank...same.

Bremer Bank...same.

 

I told her I was going to punch 3 at once and...would it flag me? She said it shouldn't because they'd be from 3 different institutions.

 

DYOR!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

 

Mission Control, get ready for launch. T minus...





Message 19 of 24
Curious_George2
Valued Contributor

Re: Elan Max Cash Preferred Visa Approved


@ChargedUp wrote:


First off, Congrats on the new Max Cash card!

 

Second, Elan has always been a solid TU user for me in Southern CA as well. I don't recall hearing of them using EX around here.


Oh. Maybe I got it twisted. It says EX on @credit_is_crack's Which Report Will They Pull? table. I'll post your info and mine over there. Thanks!


Message 20 of 24
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