Modest success with AOD + LightStream DP - What next?

[OscarsMom]

Was approved for AOD membership after doing the usual submission of many items (DL, SSC, POI, selfie), and they were very nice to deal with. They offered me a small personal loan that was less than I was hoping for and declined my request for a CC. They pulled my EQ 5, which they reported as 721 even though MyFICO says it's 728 (I paid for a one-time mortgage report). I'm self-employed, with a light credit profile. Two previous Chex inq in the last two years: one for my current local bank, one for a failed DCU app where they couldn't verify my identity.  

Before accepting the loan, I decided to see what LightStream could offer, since they reputedly pull EQ. I don't have a TU or EX score because for some reason they cannot see my past credit history when EQ has it going back 30+ years. LightStream pulled TU and declined the loan. I called for a recon, as the sole reason stated was length of credit history, and asked if they'd look at my EQ report. They replied that under no circumstances do they ever use anything but TU now. So SOL there. 

Where to go from here? I'd still like a personal loan and/or CC to cover some expenses and have an emergency buffer. I don't think another CU will like the recent AOD membership, but maybe I'm wrong? Should I try the DCU app again, this time with a manual application? 

Also still looking for CCs that reliably pull EQ, preferably not from a CU with a long membership process. Discover, Chase, and Citi all pull other bureaus for me (in CA). Already have a Cap One and not eligible for another or a CLI for a few more months. Comenity? US Bank? My State Farm agent sent me info on a US Bank promotion with them - not sure who they pull or if it helps to go through the State Farm link. 

[CreditCuriosity]

Penfed pulls EQ for Credit cards and use to for personal loans, but heard they went to Exp or is it TU now(for personal loans, but not CC's) so likely would be a double pull.  Sounds like for some reason you have a "thin" credit profile on two reports.  PenFed as mentioned will certainly use EQ for CC applications and don't even believe they pull chexsys either and overall are generous with CC's for all profiles.  Sure their are tons of other CU's that use EQ as well as you mentioned DCU as they use it, but you mentioned identity issues which i had in past with them, but recently got past that, but have no use for any of their CC's i just park 1k their in savings for their 6.5% return or whatever it is.  Hope this helps a bit sure other members will pipe in with other CU's that use EQ as I have a ton of credit cards and lines of credit, just not up-to-date on whom most of them pull and their constantly changing field of memberships etc.  AOD is an awesome CU esp if you got in back during the open days of 3% visa, but as you likely know that time is gone for new applicants and sounds like they had issues even though they pull EQ approving you with a normal visa for some reason?  Did they give you a reason?  What is your EQ score?  AOD obviously requires POI was that a reason for a smaller than desired loan amount or another reason? 

[OscarsMom]

@CreditCuriosity, thanks for the swift reply. 

My score with AOD was 721 - not terrible and in the range of a lot of DPs on previous AOD threads. I think they were leery about me being self-employed (income low 50s verified with tax returns) and just having one CC with a low limit ($500 with Cap One). My loan officer did say that they tend to be more favorable with both loans and CCs once you have a relationship with them, which is why I took the small loan they did offer ($1K). 

Meanwhile, maybe it makes sense to check out PenFed. I had heard the same as you: they run EQ for membership and CCs but EX for loans. If they're not super Chex sensitive, maybe they won't mind the recent AOD membership. I know some CUs don't like to see to many new accounts within a short amount of time. I don't want to be seen as a desperate "credit seeker," although duh, I am seeking credit like everyone else applying with them. You know the old story, the less you need credit, the more you have available to you and vice versa. 

[OscarsMom]

@CreditCuriosity Meant to add that the reason for my thin profiles with TU and EX is because I lived outside the US between 2010 and 2018. No mortgage, no car loans, no CCs. I kinda dropped off the FICO radar. Somehow, though, Equifax held onto some old data, like an old card from the '90s, which I guess was enough to give me a score.

Hopefully, my Cap One card will start showing up with TU and EX in a few months, although I don't know if that will really help, since my credit history will still look pretty new. 

[CreditCuriosity]

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@OscarsMom wrote:

@CreditCuriosity, thanks for the swift reply. 

My score with AOD was 721 - not terrible and in the range of a lot of DPs on previous AOD threads. I think they were leery about me being self-employed (income low 50s verified with tax returns) and just having one CC with a low limit ($500 with Cap One). My loan officer did say that they tend to be more favorable with both loans and CCs once you have a relationship with them, which is why I took the small loan they did offer ($1K). 

Meanwhile, maybe it makes sense to check out PenFed. I had heard the same as you: they run EQ for membership and CCs but EX for loans. If they're not super Chex sensitive, maybe they won't mind the recent AOD membership. I know some CUs don't like to see to many new accounts within a short amount of time. I don't want to be seen as a desperate "credit seeker," although duh, I am seeking credit like everyone else applying with them. You know the old story, the less you need credit, the more you have available to you and vice versa. 

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As mentioned I don't believe PenFed pull Chexs and never heard of anyone recently last 6+ years being turned down membership it is pretty simple.  They also have a pre-qual for their CC's and believe if you accept it it will allow you to apply for membership at same time, but you can check it out just goto their site and run the pre-qualify and see what it says.  With that said nothing with credit is guaranteed and also their pre-qual system from what I heard can be a bit whacky, but overall I think you would have a decent shot with them.  Ya one CC with a 500 limit along with self employment are both hurting you and lightstream is meant for people with well established credit along with excellent credit which your EQ is good, but just not much credit.  I would advise you start to thicken your profile whether it is with PenFed or another lender, but PenFed as mentioned is pretty easy to get in with and also have a pre-qual.  I would say NFCU, but not sure if you are eligible and they also use TU for CC's.  Can also try Cap1 again as not sure how old your CC with them is?  That is SP as well, but they will pull all 3 CR's, but could be worth it or try Discover pre-qual as well, but not sure whom they pull these days, back when I got it they did EQ, but now I have no idea.  You need to thicken up your credit profile one way or another.  Ideally 3 CC's, an installment loan and sure all of the stuff you have read as appears you have done some research.  A few Chex's pulls won't kill you, but don't go wild thus limit your inquiries to CU/Banks, but one with PenFed wouldn't hurt you if they even pull it although other places are very sensitive to Chex's you just space out in future them to one every 3 months or something like that, but 1 more isn't life ending right now and can get the better CU's/Banks down the line.  I belong to about 10 CU and about 5-6 banks for various lending options/reasons.  Let me know how you go forward and hope my advise has helped a bit.    Getting credit and higher limit CC's/Loans is a marathon and not a sprint, but at same time need more than 1 small credit limit CC as your income supports more than a small 500 limit.

[OscarsMom]

@CreditCuriosity As I understand it, Cap One limits second cards and CLIs to at least six months out from any new card with them. That puts me at September or October before I can apply again. I did the prequal with Discover, thinking they might pull EQ vs another bureau (I've heard they do that with prequals). But nothing was available to me from them. I don't know if it was my profile, my score, or perhaps that they pulled from one of my unscorable bureaus. 

I will give the PenFed prequal a try, I think. The reason I wanted the DCU membership in the first place was they also do a version of that with the pre-approval panel if you get accepted. You can see what they will offer on the same credit pull. They are just more Chex sensitive than PenFed, I believe, but maybe a back door call would give me more information about whether or not to try. 

Thanks so much for all your advice and support. I'm not a spring chicken, so I have to kinda turn that credit marathon into a 1,500 meters lol.