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SDFCU Denial — Unable to verify applicant electronically


Menta33
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My DW applied for a credit card at the State Department Federal Credit Union, after being a member with just a savings account for ten years.

 

After pulling Experian showing 828 FICO, they requested two years of tax returns and three months of bank statements to verify income.

 

She provided them the required documents, then they denied the application with the principal reason(s) on the Adverse Action Letter being only:

 

Quote

Unable to verify applicant electronically

 

Given they pulled Experian successfully and generated a FICO score, are they meaning they also tried to pull Lexis/Nexis and found it was frozen?  Or perhaps ChexSystems?

 

If so, should we just call Lexis/Nexis and request a temporary lift by following their website instructions:

 

Quote

The subject of this consumer report currently has a security freeze on file preventing the return of the information you requested. If the consumer would like their security freeze lifted, please instruct them to call LexisNexis Risk Solutions at 1-800-456-1244.

 

And then asking SDFCU to repull the identity report?

 

 

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On 11/1/2021 at 12:35 PM, Menta33 said:

I am a collector of credit unions and appreciate each of their unique facets.

 

Then you should already be familiar with the consequences.  :) 

 

It took me several tries and multiple contacts through different channels before I was able to leave this sucky kredit younyun.  I chronicled the experience in this thread:

 

 

To this day, I cannot get them to stop sending me emails to check my credit score, which -- along with opting out of their email communications -- is impossible without logging into their web site, which is also impossible after you terminate your membership.  

 

If you're looking for a 2% card, there are several available from reputable issuers that actually want your business.

 

 

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11 hours ago, cv91915 said:

 

 

Then you should already be familiar with the consequences.  :) 

 

It took me several tries and multiple contacts through different channels before I was able to leave this sucky kredit younyun.  I chronicled the experience in this thread:

 

 

To this day, I cannot get them to stop sending me emails to check my credit score, which -- along with opting out of their email communications -- is impossible without logging into their web site, which is also impossible after you terminate your membership.  

 

If you're looking for a 2% card, there are several available from reputable issuers that actually want your business.

 

 

 

Thanks for linking your posts.

 

The purpose of this card is to sock drawer it and benefit from the increased available credit so that overall utilization levels rise.

 

For rebate, my go to is BofA which offers 2.625% on everything with $95 annual fee and no caps if you have sufficient assets at Merrill Lynch to get their preferred level.

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6 hours ago, Menta33 said:

 

Thanks for linking your posts.

 

The purpose of this card is to sock drawer it and benefit from the increased available credit so that overall utilization levels rise.

 

For rebate, my go to is BofA which offers 2.625% on everything with $95 annual fee and no caps if you have sufficient assets at Merrill Lynch to get their preferred level.

 

You can get 2.625% from BoA with no AF on the Travel Rewards Visa.  I'm guessing you have the Premium Rewards, which may have other benefits.

 

If you just want to pad your available credit, it seems that there are better ways to do it than trying to figure out why this awful kredit younyun can't identify your wife after she's been a customer for 10 years and has provided multiple bank statements and tax returns.  :) 

 

BoA has extended several of us $99,900 credit lines on one (or combined across multiple) cards, so that my be worth pursuing if you haven't already gotten there.  

 

BoA's Preferred Credit team will also grant limits significantly higher than that if you are willing to document assets at other institutions.   It wouldn't be worth my time, but your appetite for jumping through hoops is more ravenous than mine.  

 

 

 

 

 

 

Edited by cv91915
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6 hours ago, cv91915 said:

 

You can get 2.625% from BoA with no AF on the Travel Rewards Visa.  I'm guessing you have the Premium Rewards, which may have other benefits.

 

If you just want to pad your available credit, it seems that there are better ways to do it than trying to figure out why this awful kredit younyun can't identify your wife after she's been a customer for 10 years and has provided multiple bank statements and tax returns.  :) 

 

BoA has extended several of us $99,900 credit lines on one (or combined across multiple) cards, so that my be worth pursuing if you haven't already gotten there.  

 

BoA's Preferred Credit team will also grant limits significantly higher than that if you are willing to document assets at other institutions.   It wouldn't be worth my time, but your appetite for jumping through hoops is more ravenous than mine.  

 

 

 

 

 

 

 

Yes, BoA is treating us well.  Just did CLI up to $65K from initial $30K from last March.  Yes, they also refund to some cap some airline fees annually like luggage fees.

 

They have an LMA account where you can borrow against brokerage positions at ~1% annual variable rate.

 

They have secured 30-year fixed super-jumbos where if you double collateralize you can get rates as low as 2.25% fixed.

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