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GE Credit Union "The Classic" VS Approval (UPDATED)

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cmm89
Frequent Contributor

GE Credit Union "The Classic" VS Approval (UPDATED)

Update at the end.

 

Hi all-

 

I was looking for a card that started off with a 0% introductory APR and a solid variable APR based on the Prime Rate.  I qualify for this Credit Union (General Electric Credit Union) as a former employee of GE and as an Ohio resident.  I saw that APR's ranged from 7.24% - 13.24% after the introductory 12 months (0% APR) and figured I'd pull the trigger after checking out all the CU's in my area.

 

I have tons of new accounts & inquiries and was hesitant to even try, but they approved me for $15,000 SL (WOOO!) with an APR of 9.49% after the introductory period of 12 months (definitely the lowest APR I've ever received).  I thought it would stay a Visa Classic no matter what but given that line, it said I was approved for the Visa Signature.  Not interested in rewards at all for this one...

 

I am going to be BT'ing the remaining CC debt I have ($15,000) to this in chunks (while keeping util on the card below 30%) and paying it off aggressively.  Woohoo!

 

DP below, though I'd imagine this CU is pretty restrictive to the entire forum...

Scores are updated as of today.

INQ: A LOT, LOT, LOT in the past week.  Been on a little spree.

New accounts: Again, a LOT in the past week.

Highest limit: $50,000 (Bank of America Cash Rewards VS)

No notifications from MyFICO or any of the bureaus as to what they've pulled yet.

Income of $82,000 at age 31

Outside of a SERIOUS DEROGATORY for defaulting on my student loans in 2015, I've got nothing bad on my credit report.

Overall CL util:  7%

 

UPDATE 5/7/21:

 

Some awesome news.  Not ONLY did they approve me with a $15k SL, the relationship manager reached out and requested paystubs.  Of course I obliged and sent over other "net worth stuff" and they approved me with the lowest APR--7.24%.

- They pulled EQ for the card.  Once I get the notice in the mail, I'll let you know which score.

 

Hope this helps some folks who are associated with General Electric (GE) or live in Ohio!

What I use (& strongly recommend): Chase Sapphire Reserve | BofA/ML (Premium Rewards VS, Cash Rewards VS, Merrill+ VS) | AmEx (Amazon Prime Business)

What I have: NFCU | PenFed | General Electric CU | Wright Patt CU | Discover | BBVA | Apple Card (GS)

Total CL with Bank of America = $100,000 (Platinum Honors Merrill Client). I am a CERTIFIED FINANCIAL PLANNER™ practitioner, so feel free to message me if you have any planning/credit questions.

EQ 759, EX 765, TU 771 (06/10/2022)

I started with scores in the 400s in 2016. This forum is a Godsend--focus on the journey, be patient, and you'll definitely get there no matter the circumstances!

Message 1 of 15
14 REPLIES 14
Anonymous
Not applicable

Re: GE Credit Union "The Classic" VS Approval

That's a really nice approval -- Congratulations! Smiley Happy

 

It would be useful for posterity if you posted the FICO  score they used. Smiley Wink

Message 2 of 15
blindambition
Senior Contributor

Re: GE Credit Union "The Classic" VS Approval

Congrats on the approval!!! Glad it worked in your favor!! Enjoy!

Smiley Happy

Message 3 of 15
Anonymous
Not applicable

Re: GE Credit Union "The Classic" VS Approval

Congrats on your huge approval!

Message 4 of 15
cmm89
Frequent Contributor

Re: GE Credit Union "The Classic" VS Approval


@Anonymous wrote:

That's a really nice approval -- Congratulations! Smiley Happy

 

It would be useful for posterity if you posted the FICO  score they used. Smiley Wink


I'll absolutely provide that when I find out.  Like I said, no alerts from MyFico (I'm a subscriber--I'd assume quite a few of us are) or any of the bureaus yet.

What I use (& strongly recommend): Chase Sapphire Reserve | BofA/ML (Premium Rewards VS, Cash Rewards VS, Merrill+ VS) | AmEx (Amazon Prime Business)

What I have: NFCU | PenFed | General Electric CU | Wright Patt CU | Discover | BBVA | Apple Card (GS)

Total CL with Bank of America = $100,000 (Platinum Honors Merrill Client). I am a CERTIFIED FINANCIAL PLANNER™ practitioner, so feel free to message me if you have any planning/credit questions.

EQ 759, EX 765, TU 771 (06/10/2022)

I started with scores in the 400s in 2016. This forum is a Godsend--focus on the journey, be patient, and you'll definitely get there no matter the circumstances!

Message 5 of 15
Anonymous
Not applicable

Re: GE Credit Union "The Classic" VS Approval


@cmm89 wrote:

@Anonymous wrote:

That's a really nice approval -- Congratulations! Smiley Happy

 

It would be useful for posterity if you posted the FICO  score they used. Smiley Wink


I'll absolutely provide that when I find out.  Like I said, no alerts from MyFico (I'm a subscriber--I'd assume quite a few of us are) or any of the bureaus yet.


I missed that sentence earlier -- my bad.Smiley Embarassed Carry on.

Message 6 of 15
M_Smart007
Legendary Contributor

Re: GE Credit Union "The Classic" VS Approval

Congratulations on your approval!

Message 7 of 15
AllZero
Mega Contributor

Re: GE Credit Union "The Classic" VS Approval

Congratulations on your approval!
Message 8 of 15
CreditMagic7
Mega Contributor

Re: GE Credit Union "The Classic" VS Approval

Fabulous! Glad you went ahead with the try. Congratulations to you!!! Smiley Wink

Message 9 of 15
CreditAggie
Community Leader
Super Contributor

Re: GE Credit Union "The Classic" VS Approval

Congratulations on your GECU approval!

Current Cards (in order of approval):

         
Current FICO 8 | 9 (February 2024):  
Credit Age:  
Inquiries (6/12/24):  
Banks & CUs:

Message 10 of 15
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