DCU credit card?

[Anonymous]

Hi!

I recentely moved to the US and my credit file is no longer than 1 year, I started with a boa secured card and I've been opening new accounts (capital one, best buy , pay pal and discover). I have a FICO of 631 (according to Discover) which I think is EQ.

I'm a DCU member for almost 10 months and I have a secure loan with them ($200)  which I'll ve paying off next month, I did it mainly for credit building purposes, I'm thinking on applying to their credit card as fees seem to be pretty good and I heard some ppl are getting preety good CL's.

My score is not that high due to recent inquiries and mid utilization (about 55%) other than that I have 100% on time payments, has anyone apply in similar circumstances? I'm hesitating and I don't know if  I should wait for my score to go up. This friday I will get my FICO update (from DCU) actually , my uytilization % has gone down so I'm expecting a better score but I'm not aiming to high.

What do you guys think ? Should I apply?

Thanks!

[myjourney]

Welcome to the forum 

Sorry you didn't get help so let's see can we get some DCU answers 

Good luck 

Bump for help

[dave024]

I was denied a DCU visa earlier this month, which surprised me as I thought they were relatively easy to get. My credit score was 735. I think the reasons were high utilization and high unsecured debt to income. Both of those were around 50%.

[1GaDawg85]

i got approved recently for a DCU Visa with a nice CL but it was mainly due to very low utilization. My current scores are in my sig so I don't see why you wouldn't be approved

[Anonymous]

Thank you, for the warm welcoming! I recentely registered but been reading the forum for a few months now,  it is really helpful!

Well, Dave has a much higher score  than I do and about the same utilization, so I think maybe I should wait a month or two to apply, I think I'll get my utilization down to 20-30% next month so I might have a better chance.

Thank you guys!

[1GaDawg85]

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@Anonymous wrote:

Thank you, for the warm welcoming! I recentely registered but been reading the forum for a few months now,  it is really helpful!

Well, Dave has a much higher score  than I do and about the same utilization, so I think maybe I should wait a month or two to apply, I think I'll get my utilization down to 20-30% next month so I might have a better chance.

Thank you guys!

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You should be approved now....

[dave024]

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@1GaDawg85 wrote:

You should be approved now....

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That seems a little optimistic considering my score was 100 points higher with the same % utilization and I got denied. Income and overall unsecured debt to income could be another big factor. If you can bring down the utilization by waiting a month and you don't need the card for any other reason it may be a good idea to wait a little while.

[Anonymous]

Thank you both, I agree I think I'll wait  that might help to get a better rate / CL.

Thanks!

[09Lexie]

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@Anonymous wrote:

Hi!

I recentely moved to the US and my credit file is no longer than 1 year, I started with a boa secured card and I've been opening new accounts (capital one, best buy , pay pal and discover). I have a FICO of 631 (according to Discover) which I think is EQ.

I'm a DCU member for almost 10 months and I have a secure loan with them ($200)  which I'll ve paying off next month, I did it mainly for credit building purposes, I'm thinking on applying to their credit card as fees seem to be pretty good and I heard some ppl are getting preety good CL's.

My score is not that high due to recent inquiries and mid utilization (about 55%) other than that I have 100% on time payments, has anyone apply in similar circumstances? I'm hesitating and I don't know if  I should wait for my score to go up. This friday I will get my FICO update (from DCU) actually , my uytilization % has gone down so I'm expecting a better score but I'm not aiming to high.

What do you guys think ? Should I apply?

Thanks!

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Welcome to the forum. DCU can be generous but they will be looking at your high util, thin credit file and recent inq's. I would suggest waiting until your util is much lower and app once your most recent cc has been reporting for at least 6 mos 

[Ragelog]

I agree wait it out. I was approved for their best auto refinance rate and still was denied for a credit card due to high number of inquiries and recent new accounts. Fortunately my utilization was low like 10-15% but that wasn't enough. The lady on the phone though in about 6 months I would be able to get approved.