cancel
Showing results for 
Search instead for 
Did you mean: 

MSGCU Rewards Visa Approval

5KRunner
Frequent Contributor

MSGCU Rewards Visa Approval

My oldest son was recently approved for SSI benefits, so I paid a visit to our local credit union (Michigan Schools & Gov't CU) to set up an account for him. While there, I asked about their requirements for credit card approvals. The branch manager pulled up my account and said that I was eligible for instant approval (that is, without having to consult with an underwriter). I was approved for their 1% rewards Visa with an SL of $10K and their lowest APR (currently 9.25%). They pulled Experian and reported a score of 740, which must be something other than FICO 8 (Experian refreshed my report today and they report a FICO 8 of 778). Perhaps they pulled one of the mortgage scores instead?

 

According to the branch manager, they routinely offer 5% bonus rewards in categories that change each month (which makes it similar to the Langley cash back card). But I can't log into the rewards site until tomorrow to register for whatever they're currently offering.

 

It's a pretty lackluster card overall, but I'm only planning to use it for my son's recurring expenses, which will make it easier to generate a spending report if SSA ever decides to look into how I'm spending his benefits.

 

Anyways, here are the DPs: annual income $134K, DTI is roughly 20%, 23 INQs in the last 24 months (I knew it was a lot, but, like, whoa), util is just below 2%, and total CLs across all accounts now stands at $176,250.

Message 1 of 25
24 REPLIES 24
M_Smart007
Epic Contributor

Re: MSGCU Rewards Visa Approval

Congratulations on your approval! ...

Message 2 of 25
5KRunner
Frequent Contributor

Re: MSGCU Rewards Visa Approval

Thanks, @M_Smart007 !

 

Stay tuned... I have another one in the pipeline and expect an approval any day now...

Message 3 of 25
M_Smart007
Epic Contributor

Re: MSGCU Rewards Visa Approval


@5KRunner wrote:

Thanks, @M_Smart007 !

 

Stay tuned... I have another one in the pipeline and expect an approval any day now...


my-fingers-are-crossed-smiley-emoticon.gif

Message 4 of 25
gdale6
Moderator

Re: MSGCU Rewards Visa Approval

Very nice CU approval, enjoy!

Message 5 of 25
James_A
Senior Contributor

Re: MSGCU Rewards Visa Approval


@5KRunner wrote:

... I was approved for their 1% rewards Visa with an SL of $10K and their lowest APR (currently 9.25%) ...


Very nice approval -- Congrats! & thanks for the extensive DPs.Smiley Happy

Starting Score: (5/24/2018) -- FICO 08 EXP: 643; FICO 08 TU: 642; FICO 08 EQ: 677
Current Score (3/12/2021): FICO 08 EXP: 748; TU: 755; EQ: 773
2020 Goal Score: 760 across the board


Take the myFICO Fitness Challenge
Message 6 of 25
5KRunner
Frequent Contributor

Re: MSGCU Rewards Visa Approval

Thanks, @gdale6 and @James_A !

Message 7 of 25
AllThingsInTime
Established Contributor

Re: MSGCU Rewards Visa Approval

@5KRunner  Super Congrats on your MSGCU $10,000 approval!!! Smiley Very Happy

Message 8 of 25
AllZero
Super Contributor

Re: MSGCU Rewards Visa Approval

Congratulations on your approval!
Message 9 of 25
ClassicMan
Valued Contributor

Re: MSGCU Rewards Visa Approval

Congrats on your approval!

12/18/19




05/27/20





Cards

Authorized User
Message 10 of 25
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.