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Elan Financial Credit Cards issued by credit unions

Swampy99
Valued Contributor

Elan Financial Credit Cards issued by credit unions

Today my wife and I opened a cu account at Deer Valley CU in Phoenix. 

 

Applied for their Visa and found out they are all issued by Elan Financial. My score via Ex is 659, my wifes 667. Credit history started in June, high credit $5000. No derogs on Ex, util 31% on me 28% on wife.

 

The computer did not automatically approve us underwriters have to review app. No one on here mentions Elan.

 

What are they about?  What are your experiences with cu's who use Elan?

Fico Scores 11/14/16: EX 735,EQ 713,TU 690

Citi Costco$15,000/BBVA Am Ex $7000/Am Ex BCE $24,000/Macy's Am Ex $6000/ Macy's $6800,LL Bean Visa$3400/Citi DP $4100/Citi DC $4400/Bloom AmEx$7000, Bloom $7300,TotalRewardsVisa $2000 Blispay $7500,Cabelas Visa $7000/Discover $1800/ Quicksilver $4300/ J Crew $6600/Dillard's $1600/Barney's $24,000/Care Credit $5000/Stash Visa $6000 JCP $2300 Hyatt Visa $10,000, Deer Valley CU Visa $3000 and$1000 Sync Home $6500, Wells comm$4700, Saks2000
Message 1 of 8
7 REPLIES 7
sjt
Senior Contributor

Re: Elan Financial Credit Cards issued by credit unions


@Swampy99 wrote:

Today my wife and I opened a cu account at Deer Valley CU in Phoenix. 

 

Applied for their Visa and found out they are all issued by Elan Financial. My score via Ex is 659, my wifes 667. Credit history started in June, high credit $5000. No derogs on Ex, util 31% on me 28% on wife.

 

The computer did not automatically approve us underwriters have to review app. No one on here mentions Elan.

 

What are they about?  What are your experiences with cu's who use Elan?


Elan Credit Services is owned by US Bank. They provide credit card services for many banks accross the US and recently started enting the Credit Union market. Elan does all the approving for credit cards, but take into consideration the relationship you have with the bank and/or credit union.

American Express: Platinum Charge, Optima, Business Gold, Delta Business Platinum
Barclays: Arrival+ WEMC
Capital One: Savor WEMC, Venture VS
Chase: Freedom U VS, CSR VI
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity VS
Credit Union: Rewards Visa
FICO 08: (3.04.21) EX: 838 / EQ: 850 / TU: 848
Message 2 of 8
Dahlia77
Regular Contributor

Re: Elan Financial Credit Cards issued by credit unions

My credit union uses Elan also (SAG-AFTRA).   I went in recently to get a card through them since i have a long relationship with them but when I asked the bank manager I was told it is issued by Elan and when he checked into it was also told that it only reports to one of the three bureaus.  I don't know if this is the same for you but I would ask if it reports across the board or if it's only Experian as I was told.  Best of luck.

Message 3 of 8
sjt
Senior Contributor

Re: Elan Financial Credit Cards issued by credit unions


@Dahlia77 wrote:

My credit union uses Elan also (SAG-AFTRA).   I went in recently to get a card through them since i have a long relationship with them but when I asked the bank manager I was told it is issued by Elan and when he checked into it was also told that it only reports to one of the three bureaus.  I don't know if this is the same for you but I would ask if it reports across the board or if it's only Experian as I was told.  Best of luck.


Elam Credit Cards reports to all three credit bureaus. They pull credit from one of the three breaus when applying for credit. Maybe the branch manager was confused and got it mixed up.

American Express: Platinum Charge, Optima, Business Gold, Delta Business Platinum
Barclays: Arrival+ WEMC
Capital One: Savor WEMC, Venture VS
Chase: Freedom U VS, CSR VI
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity VS
Credit Union: Rewards Visa
FICO 08: (3.04.21) EX: 838 / EQ: 850 / TU: 848
Message 4 of 8
Skye12329
Valued Contributor

Re: Elan Financial Credit Cards issued by credit unions

I have elan through one of my banks. It was my first card. Personally I like their customer service But their card doesn't get used much for me since the rewards aren't very good. As for an approvals when I applied in my bank it was instant approved. However I was told when my sister wanted to apply they changed to all manual reviews. Credit line increases at least in my case have all been soft pull when requested.
NFCU Flagship: 15K
NFCU Amex: 7.5K
BOA Cash Rewards: 500
Affinity Plus CU Premier: 7.5k
Message 5 of 8
sjt
Senior Contributor

Re: Elan Financial Credit Cards issued by credit unions


@Skye12329 wrote:
I have elan through one of my banks. It was my first card. Personally I like their customer service But their card doesn't get used much for me since the rewards aren't very good. As for an approvals when I applied in my bank it was instant approved. However I was told when my sister wanted to apply they changed to all manual reviews. Credit line increases at least in my case have all been soft pull when requested.

Did you and your sister apply for the secured card.

American Express: Platinum Charge, Optima, Business Gold, Delta Business Platinum
Barclays: Arrival+ WEMC
Capital One: Savor WEMC, Venture VS
Chase: Freedom U VS, CSR VI
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity VS
Credit Union: Rewards Visa
FICO 08: (3.04.21) EX: 838 / EQ: 850 / TU: 848
Message 6 of 8
Skye12329
Valued Contributor

Re: Elan Financial Credit Cards issued by credit unions


@sjt wrote:

@Skye12329 wrote:
I have elan through one of my banks. It was my first card. Personally I like their customer service But their card doesn't get used much for me since the rewards aren't very good. As for an approvals when I applied in my bank it was instant approved. However I was told when my sister wanted to apply they changed to all manual reviews. Credit line increases at least in my case have all been soft pull when requested.

Did you and your sister apply for the secured card.


I didnt know they offered a secured card. For me i didnt even understand credit, honestly i just went to my bank and said i want a CC (i was jealous of my friend at the time XD) and they had me apply for their card. Got Approved 4 years ago for a $500 limit (was huge back then for me)

 

When my sister and i went in to apply for her, they said it would be a handwritten application and manual review now, i said no thanks, and we went with Discover for her. I said no thanks to manual and handwritten because i wanted her to get an instant response. We didnt have time for snail mail applications. 

NFCU Flagship: 15K
NFCU Amex: 7.5K
BOA Cash Rewards: 500
Affinity Plus CU Premier: 7.5k
Message 7 of 8
relentless602
Regular Contributor

Re: Elan Financial Credit Cards issued by credit unions


@Swampy99 wrote:

Today my wife and I opened a cu account at Deer Valley CU in Phoenix. 

 

Applied for their Visa and found out they are all issued by Elan Financial. My score via Ex is 659, my wifes 667. Credit history started in June, high credit $5000. No derogs on Ex, util 31% on me 28% on wife.

 

The computer did not automatically approve us underwriters have to review app. No one on here mentions Elan.

 

What are they about?  What are your experiences with cu's who use Elan?


I know it's an old post but I'll respond to it anyway. So I also do business with DVCU in Phoenix and I also have their Visa Platinum -serviced by Elan -that I've had for quite a while now, even before Elan took over card services for them. I was approved with a solid relationship with DVCU (car loan, paid personal loans, etc.), but I was around the scores you are at. I was given an interest rate of 14.99%, which went to 15.99% when it transferred to Elan. I was not happy about that. But, it is an old line of credit, and they do occasionally bump up my CL so I keep it. I hardly use it now. No decent rewards, but the customer service is reasonable. It is still better than any of the low end cards out there, so go for it if you need a line of credit I say. Assuming you were approved of course. 

Upgrade Visa $10,000 / PayPal Credit $4,000 / Wayfair Card $3,500 / CapitalOne Quicksilver One $2,800 / Ollo Rewards $1,900 / CapitalOne Platinum (Secured) $500

FICO 8 Scores: Experian 647 6/9/20 TransUnion 653 6/9/20 Equifax 666 6/9/20
Message 8 of 8
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