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LendUp Arrow Preferred Visa approval

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sarux3
Frequent Contributor

LendUp Arrow Preferred Visa approval

Continuing my rebuild efforts... today all three bureaus showed both of my new cards reporting (CreditOne $2k SL and Ollo $1300 SL) with modest increases to my FICO 8's (TU is still being a dog at 589 though *shakes fist*).  Did my usual round of pre-qual checks and looked at CK's recommendations list since they served me so well with Ollo a couple weeks ago... saw that Indigo is now showing "pre-selected" 80% odds but I've already got one shark card in my wallet, don't need two.  But both the LendUp Arrow Classic and Preferred cards showed "excellent" chances whereas last week they were merely "fair".  The Classic had $59 AF and 29.9% APR, while the Preferred had $0 AF and 26.9% APR, but the card features appear to be the same between the two, otherwise. I considered whether the UW guidelines would be more strict under the Preferred card and if I should play it safe with the Classic, but I figured "nuts to that!" and apped for the Preferred card.  Instant approval for a $1000 SL!  Gladly accepted, although I'm slightly bummed that it's my lowest limit right now.

 

Judging from people's experiences here and elsewhere online, it looks like I can probably expect the CL to double in 6 months with good payment history, so I'll keep on that and report back.  If that's the case, then this is essentially a stand-in for the Merrick Bank card that I had been wanting to get in with.  The approval notice says 10-14 days to receive the card, sounds a little pokey to me!  

CH7 Filed Dec 31, 2018; DC Apr 9, 2019
FICO 8 at DC (Apr 15, 2019):
FICO 8 current (June 29, 2022):
Total revolving credit limit: $149,150 Utilization: 9% Inquiries:

Who I've burnt: Amex / Discover / Chase / Wells Fargo / CapOne / Barclays / Citi / DSNB / US Bank / NASA FCU / Apple FCU / Synch / Comenity
Who let me back in: CapOne / Citi (Retail) / DSNB / Synchrony / Comenity
Message 1 of 14
13 REPLIES 13
Anonymous
Not applicable

Re: LendUp Arrow Preferred Visa approval

Congrats on your LendUp Arrow Visa approval! You are off to a great start with your credit rebuild! Smiley Happy

Message 2 of 14
gdale6
Moderator Emeritus

Re: LendUp Arrow Preferred Visa approval

Good job on the approval and it will grow if you use it wisely Smiley Happy
Message 3 of 14
M_Smart007
Legendary Contributor

Re: LendUp Arrow Preferred Visa approval

Grats on your rebuild and approval

Message 4 of 14
19eighty5
Senior Contributor

Re: LendUp Arrow Preferred Visa approval

Congratulations on your approval! You're well on your way to a solid rebuild. Time to garden!

FICO 8 (Feb 2018):EX- 519, TU- 530, EQ- 545
FICO 8 (Sept 2022):EX- 706, TU- 685, EQ- 684
What's in my wallet:


Message 5 of 14
Anonymous
Not applicable

Re: LendUp Arrow Preferred Visa approval

Congrats .you got a 2k starting limit with credit one ? Never seen that before
Message 6 of 14
Clockworkz
New Contributor

Re: LendUp Arrow Preferred Visa approval


@Anonymous wrote:
Congrats .you got a 2k starting limit with credit one ? Never seen that before

I got a 2k SL with them when I first appd with them. Was surprised after hearing what others get.



Starting Score: 588
Current Score: 672
Goal Score: 750


Message 7 of 14
sarux3
Frequent Contributor

Re: LendUp Arrow Preferred Visa approval

Just a follow-up:  the day after I applied and was approved, LendUp sent me a message saying that they restricted my account after a secondary manual review turned up some "inconsistent data".  They asked for photos of my DL, SS card, and a recent utility bill with my name and address for further review.  To me that sounded like a typical identity verification, so after I called in to their customer support center to verify the request, I submitted those documents and waited for them to complete the review.  By yesterday, there hadn't been any change to my status, so I wrote in to follow-up and inquire about the status... a couple hours later, I got an update that LendUp completed the review and unrestricted my account.  That's a happy end to a week of uncertainty!  

 

Still waiting to receive the card in the mail, though...

CH7 Filed Dec 31, 2018; DC Apr 9, 2019
FICO 8 at DC (Apr 15, 2019):
FICO 8 current (June 29, 2022):
Total revolving credit limit: $149,150 Utilization: 9% Inquiries:

Who I've burnt: Amex / Discover / Chase / Wells Fargo / CapOne / Barclays / Citi / DSNB / US Bank / NASA FCU / Apple FCU / Synch / Comenity
Who let me back in: CapOne / Citi (Retail) / DSNB / Synchrony / Comenity
Message 8 of 14
Anonymous
Not applicable

Re: LendUp Arrow Preferred Visa approval

Congrats! I think those are all great SL's, I only got $300 with credit one and they haven't given me any cli. My highest right now is Merrick at $700 but will double to $1400 in December.
Message 9 of 14
Anonymous
Not applicable

Re: LendUp Arrow Preferred Visa approval

Grats on your approval!! I wonder how much this card will grow? Is there a limit or anything saying the max credit line allowed?

Message 10 of 14
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