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Hello all,
I am new to posting here, and wanted to see if there is a list or any feedback on credit unions who may soft pull at membership and provide offers such as Logix or DCU. I am trying to weigh my credit union options without piling up the inquiries
Applied at Penfed and was instant approved for $25000 personal loan.
Data points:
Exp 783 2 inquiries 2% revolving usage. No mortages, three paid off auto loans. 10 total acocunts on report. No negatives ever.
Transunion 779 1 inquiry 2% revolving usage. No mortages, three paid off auto loans. 9 total acocunts on report. No negatives ever.
Equifax 803 2 inquiries. 2% revolving usage. No mortages, three paid off auto loans. 11 total acocunts on report. No negatives ever.
I am looking for a generous credit union with good customer service, and instant or quick lending decisions, as my credit is excellent, and I'd like to get this done before I head to vacation end of next week.
Thanks to all for any input!
Demetri
Here's a list of hard pull/soft pull Banks and CUs http://www.bankcheckingsavings.com/hard-pull-or-soft-pull-for-opening-a-bank-account/ .
Thanks Gmood1. Great info
Thank you, that list is awesome. I do know that some credit unions check for offers when you apply for membership. Is there any type of list or data points on that?
Thanks again!
@Anonymous wrote:Thank you, that list is awesome. I do know that some credit unions check for offers when you apply for membership. Is there any type of list or data points on that?
Thanks again!
Not that I know of. From experience, I know of several that do give you preapprovals. You have to be careful because some of them call selected to apply preapprovals. I dislike the ones that do that. Alliant is one of them and so is Xcel FCU. Both have some products I like. Their preapprovals aren't one of them.
State Department Federal credit union will send you preapprovals. The nonsecured loans are solid but the CC offers aren't. Navy Federal sometimes pulls this as well with a promotion code. They aren't solid either. Penfed will have them displayed in your account. From the data here, theirs are pretty solid.
Thank you. I have seen some such as RBFCU, DCU and Logix saying you're prequalified for these offers when you apply for membership. Tower Fcu as well. Just trying to minimize my hard inquiries if possible.
Thanks
@Gmood1 wrote:From experience, I know of several that do give you preapprovals. You have to be careful because some of them call selected to apply preapprovals. I dislike the ones that do that. Alliant is one of them and so is Xcel FCU. Both have some products I like. Their preapprovals aren't one of them.
I'm not sure what you mean by "call selected to apply preapprovals" - can you give an example of what that means? I just started a membership with Alliant, and so far I'm pleased with them. I intend to use the SSL to prepare for an auto loan in the coming year. Don't know about cards yet. Should I worry?
What I'm referring to is, the email will state your pre-approved for a card. When in fact you're just pre- selected to apply for the card. I equate pre-approved as a solid offer. Unfortunately some lenders use it as bait for you to apply with no solid offer.
I like Alliant's SSL and bank account set-up. I know from experience their preapprovals are nothing more than pre-selected offers. Similar to those that you receive in the mail. Nothing to worry about. I opted out of their invitations because I was always receiving emails with a fake pre-approval code to apply.
If you want to apply for a card with them. Let it be one of your first apps. They are very conservative.
IMHO there are better cards available from other lenders as well as better auto loan rates.
DCU, PENFED and Bethpage normally beat the other large CUs in the auto loan area from my research.
Ah okay, I see what you mean. Yeah, I've seen this too - my husband's been getting "you're pre-selected" for an "invitation to apply" snail mail regarding the Chase Southwest card. When I read the fine print, there's nothing about pre-approval. Given his current credit numbers and types of offers he's receiving, I doubt he'd qualify for any Chase card yet. I suspect he's getting this mail because he's flown Southwest lately. (So have I, and I've gotten no offers, and I DO have a Chase card, but be that as it may... bah.)
So Alliant - they're very conservative, but still good for an early card??