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Alliant Credit Union TIPS - APP & FICO Survey Results

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Itsmeagain
Established Contributor

Re: FICO Survey for Alliant Credit Union

Edited to comply with Hauling's request.

 

EQ: 743, no baddies, no collections. oldest acct. 10 yrs.

 

No offers yet. Approval pending verification of address.

Message Edited by Itsmeagain on 03-26-2009 07:24 AM
Message Edited by Itsmeagain on 03-26-2009 07:24 AM

Starting Score: TU 737 EQ 721
Current Score: TU 741 EQ 741
Goal Score: TU 765 EQ 760


Take the FICO Fitness Challenge
Message 21 of 279
Anonymous
Not applicable

Re: FICO Survey for Alliant Credit Union

From what I am gathering, you EQ credit file "current address" needs to match your application address.  If you application info does not match your EQ info, then chances are you will NOT be preapproved for an instant online offer.

 

So, before app'ing, make sure your EQ file is unlocked, personal info is accurate and that you match your application to EQ or vice versa.

 

If they had to "verify" your address, chances are that your app address was not matching the EQ record of current/most recent address.

Message 22 of 279
Anonymous
Not applicable

Re: Alliant Credit Union - FICO Survey Results

 

1.  what your EQ FICO score at time of app 

On 3/14 it was 681 according to MyFico.

 

2.  any EQ derogs at time of app

1 unpaid collection for $46 from 2004.

 

3.  what instant offers you received online

Auto loan and Signature Visa Reward card.

 

4.  what instant Credit Limit & APR didyou get

$20,000/$7,500. I only accepted the card, which is 12.5% APR.

 

I wanted to make sure my next card was a biggie, so this worked perfectly. I am currently building credit and only got my first card in 10/2008. It was a BoA secured. In 12/2008 I got a pre-approved offer for a Discover More card at $4,100. I still can't believe I have any cards!

 

Oh, and I acutally already belonged to our local PTA because my son is in grade school and we join every year.

Message 23 of 279
Anonymous
Not applicable

Re: Alliant Credit Union - FICO Survey Results

Congrats sakura! 

 

For some of you, if there is any chance you may want to get an auto loan, but are not totally sure, if they offer the auto loan, you may want to ACCEPT the offer.  You are not obligated to close the loan, and if you accept it on the online offer with card, then you won't get an additional inquiry.  Also, you may consider "refinancing" a current loan.  Alliant has been offereing 4.69 - 5.24% most recently, which for many people is a big reduction!

Message 24 of 279
Itsmeagain
Established Contributor

Re: FICO Survey for Alliant Credit Union

Txjohn, My EQ address did match the application however, according to Angelica (Alliant Credit Analyst), Chexsystems showed my address to be a motel, which it is.  However, it's also an extended stay HOTEL and I have been there for 5 3/4 years.  I'm still waiting to hear if this is acceptable to their standards but it has been for the likes of Discover, Chase, Amex and others.

Starting Score: TU 737 EQ 721
Current Score: TU 741 EQ 741
Goal Score: TU 765 EQ 760


Take the FICO Fitness Challenge
Message 25 of 279
Anonymous
Not applicable

Re: FICO Survey for Alliant Credit Union

Itsmeagain -

 

Thanks for the info - so Alliant does "address type verification" which is way to determine "stability" of the borrower.   Just as "owning" a home is considered more stable than renting, an extended stay motel will most likely not rate as high as renting, which usually involves some type of lease or agreement with minimum lease terms and probably some type of credit or tenancy check.  An extended stay motel does not, and so does not represent as "stable" as others.

 

Hopefully you will be able to discuss with a loan officer and explain that you do so because the rent is much less expensive, provides furnishings, maid service etc.  Make sure you explain "WHY" you are there, that it is choice and preference and not because you couldn't get something esle or were forced by circumstance.

 

If you tell me, hey the rent is $550 per month (example) and I get all utilities, furnishings, phone, rent, cable tv, internet and maid service once per week.....and that this makes more financial sense than paying extra for all of those things.  Then I will say, "Gee, I never thought of that....you are a bright person!"  (Hopefully they will, but this is the value of being able to speak with and reason with a real live loan officer with authority rather than being a numerical score in a computer and only able to speak to a script reading CSR)! Smiley Very Happy

Message 26 of 279
Itsmeagain
Established Contributor

Re: FICO Survey for Alliant Credit Union

Well, today I gave up on Alliant.  After providing them with a letter from my landlord, stating my residence for 5 3/4 years, they had the audacity to demand that I solicit one of my family members to write them a letter, stating that they knew me and I lived in a hotel/motel.  That this was required by Homeland Security.  BULLCRAP!!  The letter from the manager of the hotel/motel was sufficient to establish that I am not a terrorist.

 

So, that was the straw that broke the camels back. I cancelled my application.

 

I'll just have to get along without them . . . . somehow . . . . Smiley Very Happy


Starting Score: TU 737 EQ 721
Current Score: TU 741 EQ 741
Goal Score: TU 765 EQ 760


Take the FICO Fitness Challenge
Message 27 of 279
Anonymous
Not applicable

Re: FICO Survey for Alliant Credit Union

Well, I guess my logic didn't live up to its claim....Smiley Mad

 

But, although I understand your annoyance, if they would have approved your application by having a "family member" write a solicited statement, I probably would have swallowed my annoyed pride and followed through just to call their hand.  But hey....then again, my line of logic didn't hold up before, so it might not here either.  I just figure once you take the inquiry hit, I would play the poker game till they folded, or at least played one more hand before I folded.

 

Sorry to hear it didn't work out.  But, do have a relaxing weekend and get some r&r!  Smiley Wink

Message Edited by txjohn on 03-27-2009 12:20 PM
Message 28 of 279
Anonymous
Not applicable

Re: Alliant Credit Union - FICO Survey Results

Approved: $2500 Credit Card, $10,000 Auto Loan

 

 

EQ: 757

INQ: 3

Util: 4%

 

Limit sucks though wonder if I can get a higher limit if I call in, plus my brower crash when about to print signature card so I guess I have to call them in now anyway.

Message 29 of 279
Schoolbuskid
Valued Contributor

Re: Alliant Credit Union - FICO Survey Results

Now i wonder why the gave you such a low limit, you have a high score just like others do, do you  have any negative items listed on your credit report?
Rebuilding and Reducing Debt, is my game plan.
Message 30 of 279
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