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Found 10 results

  1. I just wanted to post up a little information that would not get lost in the shuffle of my thread regarding Logix. This would be good for anyone wanting to apply but wanted a little more info on Logix before they made the jump. Initially I applied for Logix because I heard they were BK friendly. I figured what the heck I have so many inq's that it's not going to matter at this point. Applied for the rewards CC - Approved initially for 15K instantly! Then reduced to 5K after underwriting took a look at it (This was acceptable to me because I am still rebuilding) Applied for the LOC after that. Approved for 10K instantly! Applied for an auto loan - Referred application - day later denied - Reason was for me living out of their lending zone. Current personal trades and other info: State: GA Current Annual Gross Income: 76,500 Docs Requested: None Application time before FINAL approval: 24 hours (I contacted them) Approval result at the time of the application - Instant Loan and CC paperwork delivery - ALL ONLINE. E-SIGNED EVERYTHING-TOOK SECONDS Time between Apps: Less than 24HRS Limited on which CRA they Pull? Yes, Experian only - Confirmed by multiple CB members Autopay discount on Loans? Yes 1% Delivery for loan funds - Instant account deposit or overnight check Credit INQ information- Same pull on all applications within 60 days. Method of applying does not matter. INQ to open membership? Yes Hard or soft? Hard MINIMUM balance requirements? Yes 500.00 balance within 6 months in Savings. Other accounts have balance requirements as well. ***States Required to reside in for LOANS (No information on Memberships found) - You must live in CA, AZ, DC, FL, MA, MD, ME, NH, NV, TX or VA ***I have actually found out that this is not what always applies. I have an account and I am in GA. I was able to qualify for a personal loan, cc and a share savings no problem. I was declined for an AUTO LOAN because I did not reside in one of the above states. All other accounts were opened and funded fine. My current Experian Fico (668) BK 7 Discharged 04/2012 (They saw my BK and even mentioned it as a reason I did not get approved for more) One public record not counting the actual BK (Repo-Included in BK) Highest Trade REPORTING (Minus any recent CLI's) on CR - 12K revolving CC (Navy) Lowest Trade REPORTING - 600 (JCP) How many open accounts including auto and others - 11 Accounts 1 year old and UNDER - 9 Accounts OVER 1 year old - 2 Accounts UNDER 6 months old - 5 Current EX INQ's - At least 10. 5 INQ's under 1 year old. Current total Utilization - 5% The experience I had there with two different loan officers was GREAT. I would recommend them to anyone. Application communication was INSTANT besides speaking to a loan officer to finalize the application (All of the required docs for review or signature was sent via email instantly). Regarding the APPROVAL It appears they could basically care less about new accounts and INQ's. This is from my experience and others on here. It does seem to factor in on the approval LIMIT to an extent. They seem to be 100% BK friendly (At least at around a year after discharge for a chapter 7 with normal rebuilding) The approval amounts can be misleading (I have heard this from others). Just don't get your hopes up until underwriting takes a look at everything ( within minutes for me)....... If you have another story or info please share. You Navy lovers, give it a go!
  2. I want to hear your experience with Logix CLIs -- the good, the bad and the ugly. I know Logix seems to have lost its steam with high limits, which is a bummer. My CC was approved at $2500 and is still very new (12/2013), so I don't plan to ask for a CLI this soon. But I can't find a whole lot of data on here about the best way to get the limit up...it would be closer to my NFCU limit, if it were a perfect world. (BTW, my vehicle refi was approved a few days after my CC was approved, so I assume it's not that they just don't like Texans. All transactions, including membership approval, were done with SPs, too. YMMV.) If you've received a CLI or been denied one, please share. (And if this thread already exists somewhere on CB...feel free to point me there!) Stats -- starting limit, FICO, Baddies, util? How did you apply? Phone? Online? Carrier pigeon? Anyone get auto-CLIs? How old was the account? Recon...? Receive any "insider tips" from Logix reps along the way? Have any other credit products with them? Thanks for playing!
  3. Hi All, Long time lurker, first time poster. I'm not nearly as experienced as most on here but just have a general observation and am trying to determine the age old question of "why" My wife and I both have (about to close them) accounts with DCU for almost 2 years - with both have what I would consider to be fairly good scores - I'm a 718 FICO with around 9 inquires and my wife is a 754 with far fewer inquiries and low utilization, she does not have any baddies and I have one (a CH 7 that was discharged in 2005) that is only on one bureau. DCU denied us for a joint credit card about 6 months ago- claimed we had sufficient credit and too many inquiries. The real salt in the wounds was that the loan officer even said - "you all wouldn't even qualify for a secured card". Crazy! Thought about refinancing both our vehicles about 3 weeks ago - went through all the motions with DCU and again denied. A reconsideration request was made and it was approved at 12.99% for one vehicle, they would not refi both. Forget that. So we had enough of that and opened a membership with Logix last week - it was like night and day. We opened our membership on the phone and during the process the rep clearly indicated what was going to occur and presented us with offers we couldn't resist - membership approved, interested in a 15K card? - Approved, interested in any refinancing? Both vehicles were approved at their lowest offered rates. Any interest in a personal loan? Sure, approved at 36 months at 8.99%. I don't quite understand how one CU that we've been with for nearly 2 years does not feel we are worth the risk for any sort of credit product while an entirely new CU membership that isn't even a day old felt we were a good risk and offered all those approvals? And as a side note....the refinance process for both vehicles went off without a hitch. We've since decided to begin winding down DCU and moving our funds to Logix. My only criticism would be their iPhone App is a bit lacking and they don't seem to support two separate logins like DCU. Thanks for any comments
  4. Hello, I was applying for membership into Logix Credit Union and I believe I answered one of the security questions incorrectly (that's then the application process abruptly stopped at least) - the current status shows "Referred". Anyone know how that's typically handled by them? I loved the question that fouled things up- "What color is the car purchased in 2012" - Silver, Gray, Red, Blue - it apparently wanted gray but it's titled as silver so no idea. Thanks!
  5. Well I decided to apply with logix. Mainly because I have been recently hearing good things about them though that information may not be 100% correct. I applied for the regular savings. Then I decided to apply for the credit card. After the application it said I was pre approved for the following: Platinum Rewards: 15K 13% Platinum :15K 12% I selected the rewards card since the interest rate does not matter to me. If approved for that rate it would be my lowest. If approved for that limit it would be my highest. Blowing Navy's out of the water at 12K I have a discharged bk 7 two years ago. I have multiple inq's on EX (8 or so). Scores are around 650's. Utilization is 3% or so. Several other credit cards in the 1000 dollar and up range. Current auto loans with nothing but good history. Current personal loan with good history. Ect ect. Now, I wonder if they will approve me. I know they are funny and even though I was pre approved someone still has to review it. Impatiently waiting here.....
  6. So after reading about all the people on here about Logix, I decided to give it a shot. A bit about me first. I filed for BK7 (thank you ex-wife) in January of 2012. At the time, my FICO scores were in the 530 range. In June of 2012, Cap One approved me for a Platinum Card for $2000 (currently upgraded to Quicksilver and $3500 limit). After waiting a year, I apped for a few more cards in June of 2013. I was approved for a second Cap One Quicksilver One card ($750 limit). I was also approved for a Merrick Card ($700 limit), a Barclays reward ($1500 limit), and a DCU Visa ($500 limit). I also have a car loan with DCU for about $13000 at a rate of 5.49%. Currently, My FICO scores are EX- 655, TU- 680, and EQ- 674. My annual income is $81000, and I have 6 INQs on my reports. Right now my utilization is a bit on the high side (thanks Santa) at 64%. So last week I opened a savings account with Logix. The process was very easy, and I e-signed all the docs. Yesterday, I decided to give it a shot with a Logix credit card, as I have been reading about very generous approvals and limits. They asked me what I wanted for a limit, and I told the rep to ask for $15000, but that I was willing to take less. I was denied outright. Ouch. Kick in the gut! The rep told me that the BK7 was still too new, and that my utilization was too high. I thanked her and figured I would try again in a few months after paying down my cards. Last night, after considering that Logix uses the same hard pull for any credit apps for 60 days, I decided to see if I could get a better rate on my auto loan. This morning, I got an email from Logix that I was approved, but at the same rate (5.49%) as my current loan at DCU. About an hour later, I got a call from a rep at Logix, about the car loan email. I explained that what they offered wouldn't save me any money. She explained that to qualify for a rate of 2.99%, I would need an EX score of 680. I thanked her for calling, and before hanging up, she asked if there were any other financial needs that she could assist me with. I told her that I was hoping to get a credit card with them. She said that looking over my credit report, that she might be able to get Logix to match my limit that Cap One gives me, if I did a no-fee BT of my balance from Cap One. I asked her to see if $4000 was possible, and she said she would check. About 3 minutes later, she came back on the phone, to tell me that I was APPROVED for the $4000 limit, pending my sending over my most recent pay stub. Wahoo! So Merry Christmas to me! Now I will sit back and see if my other CC issuers will step it up a notch. One thing for sure is that I am grateful to Logix for giving me an opportunity to prove my credit-worthiness. Thanks to all the others on these board who have been posting about Logix. You have been so helpful to me!
  7. I'm thinking about opening an account to have a chance at their credit cards. With that in mind, please answer a couple of horribly dumb questions. 1) Do you need to have an open checking or savings to apply for their CCs? 2) How much is a sufficient deposit into a checking or savings acct? 3) How long should I be a member before attempting a CC application? Thanks.
  8. Yesterday I got immediate approval for Logix membership. An email from them states: How long before I can expect this correspondence from them? My account is already set up there and I can log in. I wanted to apply for a CC with them, but am I correct in assuming I must wait on these documents before proceeding? t is a reasonable timeframe to hear back from them? ty!
  9. When applying online, I received message "Pre-approved $$$$$ at %%" and I chose the accept button. The message states a loan officer will contact me within next business day with any questions. Is the amount listed in the message the actual offer of credit being extended or that I could receive an amount up to that line?
  10. Was browsing the Interwebs tonight and stumbled upon a credit union called Logix. Upon further investigation it appears it is related to or was Lockheed FCU. Was curious if anyone here uses them for their cards or banking - feedback? How are their credit lines and ease of obtaining credit/loans? It appears anyone can join as long as they join ACC. Thanks!

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