Showing results for 
Search instead for 
Did you mean: 

RBFCU Loan approval in error

New Member

RBFCU Loan approval in error



I recently applied for RBFCU Line of Credit, I know I have a low score of 500's so i was not surprise when I got a decline response online a week later I received the actual denial letter in mail stating that my application was denied BUT they will offer me a counter offer of xx,xxx amount and to call before 11/2016 so I call that day. I talk to a CSR and he told me that my application is denied and he doesn't see a counter offer so he ask me to email a photo of the letter to verify with his supervisor. He called me back after an hour and told me that his manager said it was an Error approval. My question is is't really possible? Did anyone experience this? Thank you.

Message 1 of 2
Senior Contributor

Re: RBFCU Loan approval in error

I don't know who RBFCU is, but yes, it's possible.

Earlier this year, we had an experience with our local credit union.  We "accepted" a pre-approved cc.  Received the "we will get back to you."  Then a request for the last two pay stubs as proof of income.  We sent that in.  Then we were told we were declined because they could not verify income or employment and a few other things.  We reached out to the cc dept.  They said the decision was final.


We went to the local branch and talked to a manager.  She looked up our accounts and said that not only had we been pre-approved for the offer, but the cc dept had no right to ask for pay stubs.  DH has worked for the same employer since 1973.  We have excellent credit.  No debt at that time.  We were coded in their system as one of their top ranked clients.  


Further investigation explained what had happened...someone had started working on the online acceptance we had done for the cc (remember, we were pre-approved).  That person stopped after looking at the online stuff and walked away.  Someone new came in, mistook it for their file, and asked for additional information, like pay stubs.  We sent those in electronically.  Someone eventually looked at them, decided they were too old (one was 30 days old) and declined the cc.  When we reconned, we got the automatic decline, instead of the counter offer.  (Our credit union usually offers something else if they decline you, but it didn't happen this time.)


It was like the comedy of errors.  Yes, it can happen.  Mistakes happen.  If you can, go into the branch with the counter offer and ask for something.  A chance.  


Our happy ending was getting top management involved.  Several mistakes had happened along the way, but in the end, we did receive the pre-approved credit card and a profuse apology.

Message 2 of 2
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.