@butterpecan wrote:
@M_Smart007 wrote:
@KnowledgeSeekr wrote:
@Remedios wrote:
@KnowledgeSeekr wrote:
@Remedios wrote:Just about all CUs can and will ask for POI. There is no way to tell if they will ask you or not.
Sure all can but there are for sure some that more likely not to ask for POI like Navy, Landley, NIH biz, etc. Isn't that the point of both posting data points and asking for dp's to figure out what a creditor is "typically" looking for to get approved?
I don't understand what is it that you're trying to say
NFCU asks for POI sometimes.Langley asks sometimes. You asked for DPs and I answered you with what I know for certain, all CUs will ask some members for POI.
That's a DP and you're free to ignore it since it isn't what you wanted to hear
My friend, has nothing to do with wanting to hear anything. My point is that there are credit unions that rarely ask for POI and some that are more likely to ask for POI with 750+ scores. As mentioned above Dover tends to lean on the more likely side and Navy would lean on the less likely side. Trying to find more that lean on the less likely side. Obviously nothing is guaranteed but the purpose of gathering datapoints is to figure out the best odds for success. Appreciate your input.
So to be quite honest, I have had a 80/20% success rate ..
Not sure if I am the King of credit unions ??..but have been called that.👑
The only way you are really going to find out, is to apply with four leaf clover in one hand
and
1) COPY OF TWO MOST RECENT PAY STUBS in the other hand.
While one person might report Affinity FCU asking for POI, another might not.
The terms YEMV & YMMV might really apply here, more than anywhere else.
I am sure you are aware, most CU's pull ChexSystems for membership,
so you will only get so far in a short period of time.
@M_Smart007HI again, I am lurking and learning so I found this post. I have a question if you had a minute: What do you mean when you say the CU pull ChexSystems and you'll only get so far in a short period of time? Does that mean it shows your income or does that mean you can only have so.many inquiries? TIA
Hi @butterpecan ,
I believe the other forum members have answered this.
So in applying for CU's (in general) most will pull ChexSystems .
Sometimes by just applying for a "savings membership" account, you can skirt the ChexSystems pull.
Most IME, pull ChexSystems for checking acct's. and some will pull only for savings.
It is best to call the CU you are going to apply for and ask questions in advance.
Many will "SP" your credit reports, to verify your Idenity and pre-qualify you for credit related products.
There are only a few that "HP" just for membership without applying for any credit products.
IE: **DEPARTMENT OF THE INTERIOR FCU = HP on Equifax for Membership
If you apply for a CU and they "HP" you for membership,
that "HP" is usually good for 30days and can be used to apply for credit products without incurring another "HP".
You probably seen this link to ->> [Credit Union's that pull ChexSystems for Membership ]
It is not a complete list of over 4800 credit union's in the U.S.
As SouthJamaica had stated upthread, usually 3 months in-between is a good rule of thumb.
I just go on membership spree's.
and let the chips fall were they land.
If denied, after 6 months I will revisit the ones I was denied for too many ChexSystem's Inquiries.
There are only a couple that I have found,
out of the many I have applied for ..that do not want to see any ChexSystems Inquiries for one year!
Also a few that do not want to see any for six months. (these are rare cases)
When applying for CU membership, make sure to have all your credit bureaus unlocked. 99% of the time they will "SP" them.
If you are denied membership for too many ChexSystems Inquiries, it will refer you to ChexSystems on the AA letter.
Most CU's will ask to upload DL and SS card for I.D. verification for membership. (sometimes a current Utility bill with address)
Most will ask for proof of income (POI) when applying for credit products, in the form of last (2) current pay stubs.
(if self employed, they will usually ask for last two years of Tax returns)
Also keep in mind, some of the credit unions will "SP" your credit report on a quarterly basis,
and give you "You are already approved offers" ..these can vary between being "SP" and "HP" for a new CC.
I have received a few "SP" approvals for new cards and CLI's
GL2U on your CU journey.
@M_Smart007 Wow this is a great breakdown of informative experiences you've shared. Thank you.
I have opened a checking/savings acct at NFCU about 1 month ago and a few days ago I also did DCU. I did receive a SP for DCU on my Equifax alerts. No SP for NFCU. I did apply for a CC at DCU and was denied and sort of wondered why they didn't counter offer me the secured card being they did a HP for the CC app.
I am bookmarking the link above for reference in the future as far as ChexSystems.
Being you are the CU guru by the looks of this post I was wondering have you read any info on here you can point me toward for NIHFCU? NIH= National Institutes of Health. I have not really found all that much on it here. I am a nurse and flyers come with it when I renew my nurse license. TIA and again for the above thread you chimed in on. Great solid info. 👌
