@GApeachy wrote:Hmmmm, I'd find it really hard to "like" them as much as before. That really blows imo but you're attitude is more realistic and better than mine obviously.
I'm glad you put out the Heads Up...hopefully it'll be seen by those contemplating credit while having an open student loan.
agreed, if somebody told me I was pre-approved and then denied me after a HP based on the information they used to pre-approve me, that would be an instant account/membership closure for me
don't student loans report the IDR payment amount as the payment amount anyway?
the whole 'we're considering you to have 3k student loan payments on 200k student loans when they're only paying $300 a month or something is a tad silly'
@hawkins wrote:I have a small credit union some of you might of heard of called Dow. They are extremely friendly and I have never felt like a number there ever. Now I have had an account with them for around 3 years now and they have never offered me anything credit wise. Now to be fair I never really asked just because I really dont need anything. But the rates they have are some of the lowest I have seen in todays inflationary economy. So today I was inquiring about a CD and they metioned that I was preapproved for a credit card. I really dont need another card right now but I said ok so long as its good to go. They told me while nothing is 100% guaranteed it should be fine but that it will be a HP. Like an idioit I went for it they HP TU. Turns out while I have great scores and very low DTI Dow is just like AOD FCU they do not like student loans. As soon as they did the HP they immidiately told while on the phone that my student loans will be a problem with underwrighting. Lovely wasted HP over student loans that do not cost me so much a month to begin with. My income more then covers everything. They did not care it was an immidiate no go for them. So be it. A lesson learned for me. This was the first place that has ever taken issue with it for me and I am a member of 7 other credit unions 5 of which I have cards with. No big deal I still like Dow and will keep them. Aside from the fantastic rates they dont really offer much credit wise anyways. Just a small DP in case anyone ever wants a loan from them and has student loans. I should add in case you are wondering that even though they are small you can join from anywhere in the country by making a donation to some charity they support i forgot which one.
I applied for Dow a few years back. They refused me membership, said there were "significant fraud indicators" and the ridiculously rude and condescending woman on the phone said "Don't bother re-applying, I'll deny you each time."
I was seriously PO'd at that one. Glad you like them at least.
@hawkins wrote:I have a small credit union some of you might of heard of called Dow. They are extremely friendly and I have never felt like a number there ever. Now I have had an account with them for around 3 years now and they have never offered me anything credit wise. Now to be fair I never really asked just because I really dont need anything. But the rates they have are some of the lowest I have seen in todays inflationary economy. So today I was inquiring about a CD and they metioned that I was preapproved for a credit card. I really dont need another card right now but I said ok so long as its good to go. They told me while nothing is 100% guaranteed it should be fine but that it will be a HP. Like an idioit I went for it they HP TU. Turns out while I have great scores and very low DTI Dow is just like AOD FCU they do not like student loans. As soon as they did the HP they immidiately told while on the phone that my student loans will be a problem with underwrighting. Lovely wasted HP over student loans that do not cost me so much a month to begin with. My income more then covers everything. They did not care it was an immidiate no go for them. So be it. A lesson learned for me. This was the first place that has ever taken issue with it for me and I am a member of 7 other credit unions 5 of which I have cards with. No big deal I still like Dow and will keep them. Aside from the fantastic rates they dont really offer much credit wise anyways. Just a small DP in case anyone ever wants a loan from them and has student loans. I should add in case you are wondering that even though they are small you can join from anywhere in the country by making a donation to some charity they support i forgot which one.
I just got turned down by them for a credit card, but in my case they had a legitimate reason -- that my DTI isn't good. But the person who called me, first to ask a couple of questions, then to give me the verdict, was very nice and professional, and I have no complaints. Your experience, however, indicates that they are overly conservative; there was no legitimate reason to deny your application.
