SDFCU Premium Cash Back+ Approval

[mrcraft]

Congratulations on your approval!!

[5KRunner]

Congrats on the SDFCU approval and for sharing DPs!

I've been a member of SDFCU for a little while, but need to garden (perhaps prune) before applying for this card, as it's been on my goals list since I joined.

[gregorius]

Congratulations Tanj!

@5KRunnerI've been pondering doing some pruning for a run at SDFCU later this year too - how much do you think you need to cut back to have a shot? I've seen some reports of people with ~$100k in credit getting approved, but total credit limit DPs have been sparse.

[5KRunner]

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@gregorius wrote:

Congratulations Tanj!

@5KRunnerI've been pondering doing some pruning for a run at SDFCU later this year too - how much do you think you need to cut back to have a shot? I've seen some reports of people with ~$100k in credit getting approved, but total credit limit DPs have been sparse.

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Honestly, I don't have any concrete targets in mind, but I'd like to at least lose a few scoreable INQs and new accounts, plus prune some old cards that I've only used for BTs in the past. I'm currently at 161% of my income in total revolving credit lines (even more if PenFed ever comes through with my CLI, which was approved but still hasn't been applied to my account), which I'd bet is way too high for an SDFCU approval.

[Aim_High]

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@5KRunner wrote:

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@gregorius wrote:

@5KRunnerI've been pondering doing some pruning for a run at SDFCU later this year too - how much do you think you need to cut back to have a shot? I've seen some reports of people with ~$100k in credit getting approved, but total credit limit DPs have been sparse.

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Honestly, I don't have any concrete targets in mind, but I'd like to at least lose a few scoreable INQs and new accounts, plus prune some old cards that I've only used for BTs in the past. I'm currently at 161% of my income in total revolving credit lines (even more if PenFed ever comes through with my CLI, which was approved but still hasn't been applied to my account), which I'd bet is way too high for an SDFCU approval.

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@gregorius, I think it's hard to specify a number with lenders that are sensitive to high total credit limits. So much of it is dependent on FICO score and profile, TCL in relation to income as @5KRunner pointed out, and debts. While $100K may be too much for one situation, $500K might go unquestioned in another. I'd suggest pruning what you don't need if you are targeting a card like that but how you handle it would be very personal. 

[nosup4u]

I know this thread is kind of old but I will add if you have over 680 you DO NOT have to provide POI (that's what i've been told my CS).  I've been a member for about 4 years with a secured card that HAS NOT graduated but I am finally over 680 on my Fico 2 Mortgage profile so I will be applying in about 3 days after one last card reports a lower balance. 

[Anonymous]

Congratulations on your approval!!

[Credit4Growth]

@Anonymous 

A late Congratulations on your approval! 

[Demented1]

Congrats @Anonymous on your SDFCU approval…enjoy the card!

[Anonymous]

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@nosup4u wrote:

I know this thread is kind of old but I will add if you have over 680 you DO NOT have to provide POI (that's what i've been told my CS).  I've been a member for about 4 years with a secured card that HAS NOT graduated but I am finally over 680 on my Fico 2 Mortgage profile so I will be applying in about 3 days after one last card reports a lower balance. 

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Its strange that I just noticed this thread and today is when I received an email message from this CU to let me know that my application got approved for the same card. I applied 5 weeks ago for this card and didn't hear from them in last 4 weeks until today. I didn't bother either to check on them as I was very busy. My credit score with EX was 807, and I was asked for POI...I first became a member 6 weeks ago...They did HP for the membership and took one week to approve my membership...and afterwards I immediately applied for this card...then two days later of applying they asked me for POI- two years' tax returns and 2 yrs bank statements....and then 2 days later they sent me two different DocuSign to sign for all kinds of terms and conditions...and since then nothing until today when they sent an email to tell me that my card is in the mail..and the info about the perks on this card...I do not know how much is the limit as of now...So, the CSR was wrong if s/he said that they don't ask POI if your score is over 680.