PLOC App Spree

[Citylights18]

This was a good day. Finally picked up a firm approval.

-I got the news from DOC of the 40k approval with POI. This is a big deal for me beacuse my goal was 50k and I've got 40k here with this approval. Its a enough that I could theoretically "call of the dogs" and live with one new account. I have a full 30 dayd before I have to pick up the PLOC if I want to think about.

-However I want that HELOC and thought that I could triple pull with Signature. I can with the CC and PLOC so I did that and I put a HELOC app with high estimate reflecting a kitchen remodel. I need to really nurse the application with Signature and not sign off on any more credit until I know what they are going to give me which is fine because I have a PLOC with DOC that is in the proverbial bag.

-I need to verify with SECU in branch with the 80k combined PLOC/CC offer. I just don't know if I'm going to take this one on. Where I'm sitting at my FICO score and two dozen HPs I don't really have to worry about the HPs. I do have to worry about the new accounts. Potentially I'm looking at 6 new accounts if I accept everything and if its 5 point hit an account then I'm looking at a 30 point hit.

So if I'm looking at this strategically here is what is on the menu.

SFCU HELOC 60,000 (Approved for 60k before but I did a refi since then. Feel real good about 50k)

SECU Visa Signature 50,000 (I applied for this but they could counter 25k or lower)

DOC PLOC 40,000 (This is completely in the bag)

SECU PLOC 30,000 (They could counter 15k or lower)

SFCU Visa Signature 25,000 (Don't have UW history)

SFCU Visa Signature 25,000 (Don't have UW history)

I could get lowballed on both SECU and SFCU or one or the other. The next step I'm realizing is to do a POI SECU to see what they're going to offer me. If its all small then I might not take any of it because I don't see how a lot of small credit lines is going to help me. Its just going pound my credit score and I'll probably never use it.

[Citylights18]

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@Credit4Growth wrote:

GL2U!...

 I forgot to tell you about Signature.  Today a friend of mine just reminded me about them.  Anyway you already been with them for some time.  With the other FI, based on your searches and post from back in March, I had added PNC to my list & also found out it is not what we are searching for.

When it came to SECU I honestly thought someone else would chime in about them.  I only began to to familiarized myself with them 2 wees ago.  They seem to have decent offering currently and are receiving a lot is apps as of late.  I know there website was shutdown for a day for new member apps (overload)

All of my immediate family and others are members of DOC FCU.  My Parents have been trying to get me to become a member since I was 16 but I did not believe or know of the benefits of a CU until 3 years ago, so I said no... stupid kid, why didn't I listen to them back then.

Question, geographically speaking I would believe you are pretty far away from them, so how did you qualify for membership with them? I am asking because I never really looked into associations or back doors to qualify with them but I do have a friend who asked.

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I own property local to both DOC and SECU so they aren't a problem.

Even able to go in branch within a reasonable drive.

[lhcole77]

@Citylights18  Did NASA give you a reason. I have their PLOC and I love it!!

[snickerpedia]

Congratultions so far on DOC FCU!!!1

---- interested to hear what their membership joining process is like and also what buruea they pulled if you dont mind?

[Citylights18]

Update 8/20:

-I got what I wanted from SECU today, which is to know if they would approve me. They did approve me for a 25k Visa Signature and 5k PLOC. Its not the 80,000 I applied for but $30,000 is not bad at all for a counter offer. The APR is 11.49% with their Visa Signature and 13.74% for the PLOC which are not exactly industry best. But at least I know.

-Signature I haven't heard from yet which is probably a good thing. The APR on their Visa Signature starts at 8.70 and I applied for the 2% everything cash back card. Their PLOC, the Express Money Line of Credit starts at 9.90. It seems like the rates are pretty good and the Visa Signature is a NPLS card for 2% cash back on everything.

-The DOC PLOC offer for 40k at 11.99% is looking pretty good right now, especially compared to SECU's PLOC.

SFCU HELOC 60,000 (Approved for 60k before but I did a refi since then. Feel real good about 50k)

DOC PLOC 40,000 (This is completely in the bag)

SECU Visa Signature 25,000 (Counter offered from 50k)

SFCU Visa Signature 25,000 (Waiting on response)

SFCU PLOC 25,000 (Waiting on response)

SECU PLOC 5,000 (Counter offered from 30k)

My biggest concern at the moment continues to be the amount of products. I might be able to restructure a PLOC at an existing bank from 10k to an amount greater than 25k. I would have to pay off my existing loan but I would be replacing one account with another one that is 2 years old taking less of an AoA hit. Especially if I could grow it to 50,000 since I already have payments to it set up.

[Credit4Growth]

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@lhcole77 wrote:

@Citylights18  Did NASA give you a reason. I have their PLOC and I love it!!

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I too wondered about NASA... It appears you are already a member of this CU.

[Credit4Growth]

And Congrats thus far...Keep doing AZEO before you do apps!

DOC and SECU, although I know you still have heavy decisions to weigh. 

👈 DOC gave you the full 40K 👍Keep updating us and Best of Luck

[Credit4Growth]

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@snickerpedia wrote:

Congratultions so far on DOC FCU!!!1

---- interested to hear what their membership joining process is like and also what buruea they pulled if you dont mind?

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Last time I checked earlier this yeat, it was EQ bureau pulled for membeyear, if you told them you have an interest in any of there product. Also at that time the HP was good for 30 days. 

If no one else responds with recent experience other than CityLights, you could just call in the morning and  they will tell you.

[Anonymous]

SFCU HELOC 60,000 (Approved for 60k before but I did a refi since then. Feel real good about 50k)

DOC PLOC 40,000 (This is completely in the bag)

SECU Visa Signature 25,000 (Counter offered from 50k)

SFCU Visa Signature 25,000 (Waiting on response)

SFCU PLOC 25,000 (Waiting on response)

SECU PLOC 5,000 (Counter offered from 30k)

Lots of good stuff that you got and have on the way : )

The highest SECU approvals I've seen here are 25K on the VS and 15K on the PLOC, while the rates aren't the best, they are on the easier side to get. Though, I'm pretty sure you got the lowest rates available on both the products (it has set tiers on the agreement, like ~8% + prime is the lowest for the VS).

[Credit4Growth]

YES, ^^ with those being the highest limits I heard of being approved at SECU, that is why I suggested DOC PLOC and PSECU CC.  Safely PSECU axed there Signature Line of Credit a while ago but I believe it had a limit of 20K.

I am still curious to here anyone say something about NASA...