Well, I went today to apply for a HELOC at my Credit Union. I needed a minimum 640 score. CreditExpert gave me 632 where I have been stuck for months. I hoped & prayed that the "real" score pulled by the credit union would be at least 8 points higher. Of course, my luck doesn't run that way and instead it was 52 points less. I pulled CE this morning before I left and it was still at 632. Credit Union pulled it showing 580. What a pisser!!!!! When she saw the score I thought she was going to spit on me. She did go over the reasons I didn't score better, one of which was too many delinquent paymens (#2 reason). I do not have a single late payment on there?????? She said it must be from the "included in b/k" accounts although none of them say I was 30/60/90 or whatever late (for that matter I never was late. Believe it or not I was current when I had to file b/k...long story.....). I tried to ask some more questions but she was done wasting her time on a loser such as myself.
Don't worry, their loss. A couple years ago I had just moved and tried to open a checking account at a certain CU... no sorry... we can't because of credit... oh... ok... well how about a savings account then... NOPE, I can get my manager but she will tell you the same things... oh ok... So I left... I felt really bad.. not even a savings account... (which is rediculous) Anyways, I have never had a problem getting accounts anywhere else before or after that, and that place will never get my business. Their Loss.
Hi Maer - screw them! Your credit will get better and better and you WILL GET A HELOC at a better rate. I know Washington Mutual practically begs people to get home loans. If people don't treat us well, we don't want to do business with them - right ??? It may take a few tries, but you can get a HELOC of some type with that score! Best regards - Dogman
Denied for a savings account? I don't understand why a CU or a bank for that matter would do that to anyone? It's not as if you can overdraw on a savings account, right? Anyway, like you said, their loss. Must have some real odd ball requirements to have an account with them.
I don't think I would want to do business with someone who would treat me with disdain in that situation. Forget them. It is entirely possible to turn people down for credit politely, and leave them with their dignity. I don't care what kind of rates they offer or how good a deal they've got, I wouldn't want to do business with them.
Don't worry. One day they will want your business and you can tell them "so sorry, I am going with a business who treats me with respect." As far as CU stories go, the one here in town wants 12 months of previous bank statements with no overdrafts whatsoever, credit check, and chex systems to get a checking account with a debit card..... I told my dh to walk out of there. You don't undergo all that scrutiny for mortgages!!!! Anyway, we have decided to take our business across the street. If this situation is still bothering you, let someone know at that bank. Do not take bad treatment from anyone. Just my one cent..... (it's just one because I haven't got 2 to rub together right now) lol
I don't know why I keep going back there. I read on here all the time about the great deals people with compromised credit get at credit unions. I am so sick of subprime cards. It would be nice to pull something out from a respectable bank. This is actually my 4th rejection from this place. How stupid can I be to keep going back. My first rejection they actually yelled at me over the phone. I was so glad I wasn't there because I broke down and cried so hard I could barely breathe. I'm equally upset with Experian. What good is that stupid score anyway. It was 50 points below what credit expert gave me. I knew it wasn't going to be an exact match but come on.....50 points!!!!!! And why was my 2nd reason code that I have too many delinquent payments when I do not have a single late payment on my report???? I give up.....
Don't let them get to you. I sure know that financial problems can make a person feel small. Don't let them do that. I've let them get to me before and it makes things worse. That was before I found this place....I sure do appreciate the people here. Something to remember next time some shmuck gives you that condecending look about your bk's or bad credit. Walt Disney did it 5 times before finishing Disneyland... Success is failure turned inside out......
If I owned a CU, I'd give it to you just because of how everyone else in my profession treated you. Since I don't work for nor do I own a CU, I can only dream of offering you that chance. Alas, someone should setup a bank and charge reasonable rates and give some people a chance. It used to happen all the time but with CREDIT SCORING that all went down the tubes. Very few places have reconsideration departments that look over applications to make sure that a denial is appropriate.
Don't feel bad. i'm thinking of reopening my credit union account that I had with my college before I graduated 5 years ago. You only $50 to keep the account open. I was so poor without a job that I had to close the account. I still remember how bad it felt. I couldn't even keep $50 in the bank. I am scared that they are going to run my name in chexsystems and it will show up. I have never had a problem with bad checks but it's just that nerve racking when you don't have clean reports. Don't go back to that CU, the people there don't deserve your business. Whether your score is 500 or 800 you should be treated the same, you DO NOT need this abuse. There is a bank out there worthy of your business.
Maer, Remember YOUR not a loser!!! OK Almost everyone has a bump in the road of life. Our goal here, I believe, is to try and rectify our past and put it behind us and start anew with alot more knowledge. Did you have anything negative on Chexsystems? Good luck. Charlie
I have nothing on Chex systems. I have an account there and I just paid off a small share secured loan. After my last rejection I thought taking out a share secured loan would help me establish a better relationship with them. As it turns out, they could care less. After getting that score I and finding the reason code about the late payments, I told her that it was obvious I had no late payments on there. Another reason on my report was a high balances on some credit cards (3 out of 18 accounts). I explained that the purpose of the loan was to consolodate those debts. She said it didn't matter, the decision was solely score based. I might add that I have been at my job for 12 years. I work for the company that this credit union solely serves. Besides the BK and related accounts, I have no other dings on my credit. You all are right. I am going today to pay off the loan and close the account. I did some research on Golden 1 Credit Union but they also pull only Experian. There is nothing on there I can correct (well besides the debt ratio thing) and my score is deep in the toilet. I would like to find one that pulls Equifax or TU. Thank you all for your kind words. I feel much better.
Don't feel bad, just move on and find another CU or lender. You CAN do it! If that is the way I was treated, I would close up my accounts and take my money elsewhere. Last year when I joined a CU there was a point where I felt their customer service could be better (returning phone calls, answering questions, etc). I was so angry at being ignored that I wrote an email to the president of the CU. The next day, I got all sorts of attention and the answers I wanted. I managed to get my Visa Debit card and a Visa credit card. Since then the CU has worked with me and I am happy. I took out a share secured loan to prove myself last year and it will be paid off next month. I now have an auto loan with them as well. Also, try a locally owned community bank. Sometimes they will work with you. Just take your credit reports and make an appointment with a loan officer. What have you got to lose? You will find someone to do your loan.
Try Pentagon - they pull EFX - at least on the east coast. Join National Military Family Association (we all support the military families now, don't we?) - anyone can join, and you can join Pentagon at the same time. Just scroll down - you will see the link to join both - it's $20 a year to belong to nmfa, and whatever $$$ you want to deposit to Pentagon. They have unbelievable rates and service. I love them. http://www.nmfa.org
Also, both of the organizations sponsor GEICO insurance - you get a discount on your GEICO insurance if you belong.
Wrong= folks are getting the shaft all the time by insurers and creditors thanks to the corrupt CRAs and Fico and they keep running back to the banks and insurers fore more of the same treatment. Guess folks just can't get enough of a bad thing!
Yeah fight em for the piddly little things like this ,but keep going back to them so you can get bilked by them due to FICO And the CRAs. The CU probably did the poster a favor by keeping them out of the reach of FICO & the CRAs. Only thing is this is backwards we should be turning them down instead!
Must be for the same reason folks keep going back to The banks and insurers. They must like getting shafted by Insurance and creditors.
Maer, Don't give the CreditExpert score more, er, credit than it deserves. It is a quasi-FICO that the CRA (TU?) cooked up in their backroom. It is meaningless.
Ok...I'm going to give an opinion here. If you can stomach it and if the bank is still open, call them and ask which accounts are showing as delinquent. You'd want to know which accounts are in the negative section, and what their current ratings are: r1, 2, 3, I1, 2, 3 etc... Reason: Experian doesn't disclose the "current rating" on their consumer reports. I experienced a situation with Experian where my accounts LOOKED completely positive but were coded derog... My mortgage broker fell out of his chair when the reason codes came back "current derog" "number of recent derogs"... etc. They were inappropriate codes given the stuff we were looking at. then we looked at the report... and 4 perfect trade lines were showing up in the negative section... 4 of them... nothing wrong with them if you looked at them... but still coded negative Anyway, if you want to try and fight this, find out which accounts are coding as negative and what ratings they have. If all your derogs are from 96, that's outside the time frame for getting 'recent' derog codes... So I'm also wondering if you've requested disputes recently. We're seeing trends of "last updates" reaging the trade lines for scoring purposes... just a few thoughts why your score may be so off. You could also call Experian and ask what the ratings are currently... I1, 2, 3 R1, 2, 3 I wish they'd put them on like the other bureaus do... but really, your lender's copy will have the info. also, can they pull another bureau report? As an aside, if they're going to treat you poorly, I'd bank elsewhere... just my opinion. But I'd like to know what's triggering these codes in the meantime. You may have a disclosure issue with Experian. as to the difference in the scores, TU and Experian scores are bogus. Nobody uses them, they're just "stimulators" of revenue... I mean, simulators only Equifax gives a real fico score and we don't even know which model it is...
