ELFCU - Rebuilder Friendly Credit Union Master Thread

[RedandBlack]

I got approved for $2000

 

Awesome! Was it an instant decision? Are you a prime credit candidate or rebuilding?

[gravity357]

LOL I'm sorry. I had to email my contact person at ELFCU. It appears that everyone is under manual review. My EQ score is 697. Just to give everyone an idea of what this place has done for me.

 

Refinanced auto loan $28,000 @ 2.99% for 61 months. The original loan was opened in December with Ally $28,000 @ 12.99% for 72 months

$5000.00 LOC

now a shiny new $2000.00 credit limit.

 

Hooters and Rewardzone Mastercard are probably about to get dirt napped...

Edited May 21, 2012 by gravity357

[RedandBlack]

LOL I'm sorry. I had to email my contact person at ELFCU. It appears that everyone is under manual review. My EQ score is 697

 

So they will review and decision via email and not the phone.. Odd. I'm thinking it has more to do with your 697 score versus my 605....Congrats on your approval! Now let us in on your "contact persons" email address so we can flood their inbox!

[T77125]

LOL I'm sorry. I had to email my contact person at ELFCU. It appears that everyone is under manual review. My EQ score is 697. Just to give everyone an idea of what this place has done for me.

 

Refinanced auto loan $28,000 @ 2.99% for 61 months. The original loan was opened in December with Ally $28,000 @ 12.99% for 72 months

$5000.00 LOC

now a shiny new $2000.00 credit limit.

 

Hooters and Rewardzone Mastercard are probably about to get dirt napped...

 

What do your reports look like? How are your other credit lines?

[road2freedom]

I had to see what the offer is... so I got my call and applied. I'll let you all know how it goes.

[gravity357]

Here is what I got.

 

NFCU Platinum $12,500.00 $5476.00 of debt on it. Opened 3 months ago

Barclays Apple Finance $5700 0 debt Opened Sept 2011

American Express Zync $500.00 opened 3 months ago.

Best Buy Rewardzone $1500.00 opened Aug 2011

NFCU Navchek $5000.00

Amazon Store card $1000.00 opened last year

Hooters Card $1900.00 $192.00 of debt Opened August 2008

 

Closed Conn's account with 30 day lates in July 2010, Oct. 2008 and a 60 day late in Nov 2008. Account closed since last year

Foreclosure in Feb 2007

Edited May 21, 2012 by gravity357

[RedandBlack]

Here is what I got.

 

NFCU Platinum $12,500.00 $5476.00 of debt on it. Opened 3 months ago

Barclays Apple Finance $5700 0 debt Opened Sept 2011

American Express Zync $500.00 opened 3 months ago.

Best Buy Rewardzone $1500.00 opened Aug 2011

NFCU Navchek $5000.00

Amazon Store card $1000.00 opened last year

Hooters Card $1900.00 $192.00 of debt Opened August 2008

 

Closed Conn's account with 30 day lates in July 2010, Oct. 2008 and a 60 day late in Nov 2008. Account closed since last year

Foreclosure in Feb 2007

[lilyflower]

Interesting, called Elfcu just now to follow up on app, was told they aren't allowed to give a decision verbally over the phone! Either you get a card in the mail or a rejection letter with the usual info on it. I called due to the Equifax notification of a new inquiry today from them.

 

Like others said, I think they're doing a manual review/approvals. I just applied and got the 30 day message. Hmm...

 

 

Good Luck. Let us know.

 

 

Ron.

 

 

EQ is right now my cleanest and highest score I need to pull to see what the actual number is but I think I might've finally broken 600 on EQ.

[jthedges]

I applied last night around 10:30 pm, and got the 30 day message followed by a 7-10 day email.

 

I emailed Jamie just now, and she replied and said I was approved for $5,000.

 

My EQ FICO is like 730, not sure what score they have though.

 

I also already have a $10,000 EZloan LOC with them, $1,000 in checking, and $5 in savings.

 

Edit to add: $5k is a pretty low limit for me, my highest is $24k, with my mid-range falling around $9k to $10k. Only 2 other cards with limits lower than $5k, besides store cards.

Edited May 21, 2012 by jthedges

[road2freedom]

Not bad. What are your other lines like? I wonder if your LOC influenced the limit.

[jthedges]

Not bad. What are your other lines like? I wonder if your LOC influenced the limit.

 

I have like 30 open cards.

 

NFCU is highest at $24000

Several Chase cards $5000, $7500, $10600, $5000, $3500

Citi $8200, $5900, $11000

Amex $10700, $3000

Barclays $7500, $9500

Discover $5000

Lowes $10000

And a bunch of others, lol.

Edited May 21, 2012 by jthedges

[RedandBlack]

My gut is telling me I wasted a hard pull here and they aren't quite as rebuilder friendly as anticipated. A 697 EQ with a couple of solid lines of credit was given a $2000.00 line... Doubt my 605 is going to get me much more than a "thanks for applying but at this time yadda yadda yadda" letter in the mail.

[lilyflower]

Congrats to all the approvals. I guess I'm going to be the litmus test if they'll throw a bone to someone rebuilding who's showing old baddies on EQ. I'm not feeling hopeful at the moment.

[jthedges]

My gut is telling me I wasted a hard pull here and they aren't quite as rebuilder friendly as anticipated. A 697 EQ with a couple of solid lines of credit was given a $2000.00 line... Doubt my 605 is going to get me much more than a "thanks for applying but at this time yadda yadda yadda" letter in the mail.

 

Well luckily its only EQ

[lilyflower]

My gut is telling me I wasted a hard pull here and they aren't quite as rebuilder friendly as anticipated. A 697 EQ with a couple of solid lines of credit was given a $2000.00 line... Doubt my 605 is going to get me much more than a "thanks for applying but at this time yadda yadda yadda" letter in the mail.

 

I'll probably get the same but I'm hoping the credit builder loan that I've been paying on for a few months is going to be what pushes me into actually getting approved but it's likely going to be a toy limit. They've said they look favorably at good history with them so we'll see what happens...

[TXDatN]

Im about to drop this CU like its hawt.

[rslifkin]

Im about to drop this CU like its hawt.

 

 

Why would you want to get out of this CU? Do you not like it?

[RedandBlack]

Jaime was fantastic and emailed me right back! I was declined due to ELFCUs credit policies. Understanding I earned my low credit score I shouldn't be surprised but with that said between NFCU, USAA and my local credit Union I will settle down and keep gardening my car loan and the more than fair card limit from NFCU. I advised her I will be closing my accounts but let her know her customer service was second to none, it's a shame I need a little more than that from a CU!

[rslifkin]

Jaime was fantastic and emailed me right back! I was declined due to ELFCUs credit policies. Understanding I earned my low credit score I shouldn't be surprised but with that said between NFCU, USAA and my local credit Union I will settle down and keep gardening my car loan and the more than fair card limit from NFCU. I advised her I will be closing my accounts but let her know her customer service was second to none, it's a shame I need a little more than that from a CU!

 

I wanted to tell you that Jamie also has been top-notch and I too was denied for what I applied for.. I know ive joked about it several times but the underwriters and I have an unofficial plan going forward for a nice little Christmas present (as for me. I was denied for a credit produce too. Jamie had me full of a blaze of bravado.) But all that did is give me even MORE resolve going forward to do the right thing. I am contacting her now for the address to mail a check deposit to, either that or the Android app.

 

I am sure they were sorry to see you go.

[Gaby10]

Im about to drop this CU like its hawt.

 

I'm actually seriously considering all my main banking to this CU. They have pretty much every feature I need.

[RedandBlack]

If this helps anyone else in a similar position as mine Jaime replied to my email letting me know they like to see a BK simmer for at least a year before they will consider you as well as utilization under 30% on current credit. Any judgements or liens must be off of your report, even if they were part of your BK. Again, not sure if it is relevant but it's what I have experienced. All of the above I can be told closer to home! God Bless NFCU.

[lilyflower]

If this helps anyone else in a similar position as mine Jaime replied to my email letting me know they like to see a BK simmer for at least a year before they will consider you as well as utilization under 30% on current credit. Any judgements or liens must be off of your report, even if they were part of your BK. Again, not sure if it is relevant but it's what I have experienced. All of the above I can be told closer to home! God Bless NFCU.

 

Ooh, thanks. I actually have a prayer of approval then. All my judgments on EQ are gone, never had a BK (should've gone that route in 2008 but too late now), definitely WAY under 30% utilization (I'm under 10% usually). Can someone post or PM me with Jaime's contact info, I can't seem to find it.

[jthedges]

If this helps anyone else in a similar position as mine Jaime replied to my email letting me know they like to see a BK simmer for at least a year before they will consider you as well as utilization under 30% on current credit. Any judgements or liens must be off of your report, even if they were part of your BK. Again, not sure if it is relevant but it's what I have experienced. All of the above I can be told closer to home! God Bless NFCU.

 

Ooh, thanks. I actually have a prayer of approval then. All my judgments on EQ are gone, never had a BK (should've gone that route in 2008 but too late now), definitely WAY under 30% utilization (I'm under 10% usually). Can someone post or PM me with Jaime's contact info, I can't seem to find it.

 

I PMed you her email address.

[gravity357]

Im about to drop this CU like its hawt.

 

I'm actually seriously considering all my main banking to this CU. They have pretty much every feature I need.

 

Same here. They have been awesome to deal with. I am pretty sure that this will be a place that will grow with you as well.

Edited May 21, 2012 by gravity357

[lilyflower]

If this helps anyone else in a similar position as mine Jaime replied to my email letting me know they like to see a BK simmer for at least a year before they will consider you as well as utilization under 30% on current credit. Any judgements or liens must be off of your report, even if they were part of your BK. Again, not sure if it is relevant but it's what I have experienced. All of the above I can be told closer to home! God Bless NFCU.

 

Ooh, thanks. I actually have a prayer of approval then. All my judgments on EQ are gone, never had a BK (should've gone that route in 2008 but too late now), definitely WAY under 30% utilization (I'm under 10% usually). Can someone post or PM me with Jaime's contact info, I can't seem to find it.

 

I PMed you her email address.

 

Thanks! E-mail sent and fingers crossed! I just want an unsecured card that's not from Orchard or Cap 1 - I don't even care too much about the limit.