AOD CU Credit Card

[credit8502020]

Hi All! 

I am considering joining AOD in July. How long after joining AOD did you apply for the credit card? I'm specifically joining for the 3% Visa Signature CC.

Are thre any best practices that you would suggest? Ex. Deposit a certain amount of funds in acct before applying, Open Checking & Savings, etc. 

Thanks! 

[Rockysocks]

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@credit8502020 wrote:

Hi All! 

I am considering joining AOD in July. How long after joining AOD did you apply for the credit card? I'm specifically joining for the 3% Visa Signature CC.

Are thre any best practices that you would suggest? Ex. Deposit a certain amount of funds in acct before applying, Open Checking & Savings, etc. 

Thanks! 

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You can apply for the card at the time of joining the credit union. The best thing you can do is keep your profile as clean as possible leading up to the application. Limit hard inquiries, high balances, etc.

[ChargedUp]

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@credit8502020 wrote:

Hi All! 

I am considering joining AOD in July. How long after joining AOD did you apply for the credit card? I'm specifically joining for the 3% Visa Signature CC.

Are thre any best practices that you would suggest? Ex. Deposit a certain amount of funds in acct before applying, Open Checking & Savings, etc. 

Thanks! 

---

You can apply for the card and membership at the same time. I don't believe that depositing a certain dollar amount into the shares account makes any difference in underwriting.

Best practices would be making sure your EQ-5 is clean, your DTI is low and you get paid in a normal hourly or salary manner for proof of income purposes.

[credit8502020]

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@Rockysocks wrote:

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@credit8502020 wrote:

Hi All! 

I am considering joining AOD in July. How long after joining AOD did you apply for the credit card? I'm specifically joining for the 3% Visa Signature CC.

Are thre any best practices that you would suggest? Ex. Deposit a certain amount of funds in acct before applying, Open Checking & Savings, etc. 

Thanks! 

---

You can apply for the card at the time of joining the credit union. The best thing you can do is keep your profile clean as best as possible leading up to the application. Limit hard inquiries, high balances, etc.

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@Rockysocks Thank you! 

[MmmarkAz]

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@credit8502020 

Hi, I'm Not with AOD, But I Have Joined a Couple CU's, Just Recently I Joined ICCU, I First Opened a Share Account, With $50. Then Opened a $150. Checking, Then the Next Morning I Applied for a Credit Card and Instantly Approved by Phone.. Card Came in the Mail 7 Days Later.. was a Soft Pull to Join, Then Hard Pull for Card..

A Couple Years Ago I Joined America First Credit Union, Then Bought a Truck and a Year Later Bought a New RV, they Financed Both.. Then Last Week They Sent Me a Email Offer on Credit Card

& I Applied and Instantly Approved After UW.. 

@Wavester64 and @Jna1 Have Experience with AOD CU and Could Probably Give More Info..

I Would Like to Apply in 6-7mos

Good Luck with AOD CU😃

[credit8502020]

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@ChargedUp wrote:

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@credit8502020 wrote:

Hi All! 

I am considering joining AOD in July. How long after joining AOD did you apply for the credit card? I'm specifically joining for the 3% Visa Signature CC.

Are thre any best practices that you would suggest? Ex. Deposit a certain amount of funds in acct before applying, Open Checking & Savings, etc. 

Thanks! 

---

You can apply for the card and membership at the same time. I don't believe that depositing a certain dollar amount into the shares account makes any difference in underwriting.

Best practices would be making sure your EQ-5 is clean, your DTI is low and you get paid in a normal hourly or salary manner for proof of income purposes.

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@ChargedUp Thank you. I'm glad you mentioned income because I thought I saw some were being denied because of it. I may have to skip this one. I'm in real estate and don't get paid on an hourly or salary basis. Do you recall how many months they would want to see? My concern is even if they wanted to see 3 months, if it's $5,000-$10,000 difference in a month, that may be a red flag for them and I don't want to waste an inquiry...although I want the 3% card. I guess I'll see very soon.

[credit8502020]

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@MmmarkAz wrote:

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@credit8502020 

Hi, I'm Not with AOD, But I Have Joined a Couple CU's, Just Recently I Joined ICCU, I First Opened a Share Account, With $50. Then Opened a $150. Checking, Then the Next Morning I Applied for a Credit Card and Instantly Approved by Phone.. Card Came in the Mail 7 Days Later.. was a Soft Pull to Join, Then Hard Pull for Card..

A Couple Years Ago I Joined America First Credit Union, Then Bought a Truck and a Year Later Bought a New RV, they Financed Both.. Then Last Week They Sent Me a Email Offer on Credit Card

& I Applied and Instantly Approved After UW.. 

@Wavester64 and @Jna1 Have Experience with AOD CU and Could Probably Give More Info..

I Would Like to Apply in 6-7mos

Good Luck with AOD CU😃

---

@MmmarkAz Thank you! 

[ChargedUp]

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@credit8502020 wrote:

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@ChargedUp wrote:

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@credit8502020 wrote:

Hi All! 

I am considering joining AOD in July. How long after joining AOD did you apply for the credit card? I'm specifically joining for the 3% Visa Signature CC.

Are thre any best practices that you would suggest? Ex. Deposit a certain amount of funds in acct before applying, Open Checking & Savings, etc. 

Thanks! 

---

You can apply for the card and membership at the same time. I don't believe that depositing a certain dollar amount into the shares account makes any difference in underwriting.

Best practices would be making sure your EQ-5 is clean, your DTI is low and you get paid in a normal hourly or salary manner for proof of income purposes.

---

@ChargedUp Thank you. I'm glad you mentioned income because I thought I saw some were being denied because of it. I may have to skip this one. I'm in real estate and don't get paid on an hourly or salary basis. Do you recall how many months they would want to see? My concern is even if they wanted to see 3 months, if it's $5,000-$10,000 difference in a month, that may be a red flag for them and I don't want to waste an inquiry...although I want the 3% card. I guess I'll see very soon.

---

There have been reports around here of people being denied due to not having the typical hourly/salary pay schedule. They do request paystubs and/or W-2's (I just used 4 paystubs to satisfy this.) I'm not certain how they deal with commission based pay, but it's a common enough income stream that I think they should be able to work with it. (One specific denial I remember was a travel nurse that made a small base salary with a huge, tax-free per-diem per pay period. (My wife worked a similar gig, so I completely understood how it works.) AOD only took the small base salary into consideration for income purposes.) Some have called underwriting and worked out getting their income accepted when it was questioned, so it's really kind of up in the air, but as a real estate agent... I think you'll be fine.

[credit8502020]

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@ChargedUp wrote:

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@credit8502020 wrote:

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@ChargedUp wrote:

---

@credit8502020 wrote:

Hi All! 

I am considering joining AOD in July. How long after joining AOD did you apply for the credit card? I'm specifically joining for the 3% Visa Signature CC.

Are thre any best practices that you would suggest? Ex. Deposit a certain amount of funds in acct before applying, Open Checking & Savings, etc. 

Thanks! 

---

You can apply for the card and membership at the same time. I don't believe that depositing a certain dollar amount into the shares account makes any difference in underwriting.

Best practices would be making sure your EQ-5 is clean, your DTI is low and you get paid in a normal hourly or salary manner for proof of income purposes.

---

@ChargedUp Thank you. I'm glad you mentioned income because I thought I saw some were being denied because of it. I may have to skip this one. I'm in real estate and don't get paid on an hourly or salary basis. Do you recall how many months they would want to see? My concern is even if they wanted to see 3 months, if it's $5,000-$10,000 difference in a month, that may be a red flag for them and I don't want to waste an inquiry...although I want the 3% card. I guess I'll see very soon.

---

There have been reports around here of people being denied due to not having the typical hourly/salary pay schedule. They do request paystubs and/or W-2's (I just used 4 paystubs to satisfy this.) I'm not certain how they deal with commission based pay, but it's a common enough income stream that I think they should be able to work with it. (One specific denial I remember was a travel nurse that made a small base salary with a huge, tax-free per-diem per pay period. (My wife worked a similar gig, so I completely understood how it works.) AOD only took the small base salary into consideration for income purposes.) Some have called underwriting and worked out getting their income accepted when it was questioned, so it's really kind of up in the air, but as a real estate agent... I think you'll be fine.

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@ChargedUp Thank you for sharing those examples. I appreciate it. 

[GatorGuy]

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@credit8502020 wrote:

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@ChargedUp wrote:

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@credit8502020 wrote:

Hi All! 

I am considering joining AOD in July. How long after joining AOD did you apply for the credit card? I'm specifically joining for the 3% Visa Signature CC.

Are thre any best practices that you would suggest? Ex. Deposit a certain amount of funds in acct before applying, Open Checking & Savings, etc. 

Thanks! 

---

You can apply for the card and membership at the same time. I don't believe that depositing a certain dollar amount into the shares account makes any difference in underwriting.

Best practices would be making sure your EQ-5 is clean, your DTI is low and you get paid in a normal hourly or salary manner for proof of income purposes.

---

@ChargedUp Thank you. I'm glad you mentioned income because I thought I saw some were being denied because of it. I may have to skip this one. I'm in real estate and don't get paid on an hourly or salary basis. Do you recall how many months they would want to see? My concern is even if they wanted to see 3 months, if it's $5,000-$10,000 difference in a month, that may be a red flag for them and I don't want to waste an inquiry...although I want the 3% card. I guess I'll see very soon.

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My wife is self employed and they wanted two years tax returns. I don't think they were able to read a tax return very well or they just decided to not count her self employment income because they denied her app for too high DTI. Her F8 was >800 and she has never been denied for a CC. 

After recon, they approved her for $5k which was by far her lowest CL. Most are >$20k. 

Good luck if you do decide to go for it and share back your experience.