Alliant CU bait and switch

[pjoseph]

Yeah, about that credit score. Takes 5 minutes to find yours online. Free once a year. This thread is not credible without that key data point.

The score itself is mostly good only for one thing - taking up even more debt.

 

[Footer]

One factor that can reduce your score a lot is the balance on your credit card. You may pay it off monthly but if your credit score gets pulled when your balance is high you could lose a lot of points, even if you have a million dollars in your checking account. So it might help to pay off your balances before they check your credit score.

 

[RedP85+]

One factor that can reduce your score a lot is the balance on your credit card. You may pay it off monthly but if your credit score gets pulled when your balance is high you could lose a lot of points, even if you have a million dollars in your checking account. So it might help to pay off your balances before they check your credit score.

True, one of many factors. The formula for this score is proprietary and no one knows exactly how it is calculated. Basically banks lend you money when you don't need it and get scared off when you do.

 

[Bishop]

I ran into a similar problem when i bought my house ( i ended up getting it fixed )but i bet you its the same reason .. your credit score changed because they pulled your credit

 

[Max*]

That sounds very odd. When I was getting my car loan (local CU), they told me I qualified for the top bracket (lowest APR), I asked what the requirements were (can't remember? 760 maybe? I had 800+). I asked what the next bracket was (can't remember, something like 720) but the APR only goes up by about 0.5%. So for the OP to get an increase of 4% his credit must have went from A to an F in 30 days, seems unlikely.

The formula for this score is proprietary and no one knows exactly how it is calculated.

But there are basic categories that everyone does know that influence your score. In no particular order: late/missed payments, bankruptcy, credit utilization, number of accounts, history of accounts, number of credit inquiries, etc.

 

[outie]

It seems like most of these complaints arise when they re-pull your credit. My suggestion for future customers is to apply AFTER you get your delivery date. They can close/fund very quickly. Application over the phone is 5 minute. Assuming they don't need proof of income/tax returns (my 100% loan didn't need any further documents) you can get funded in a day.

And for those who say ACU says their scores drop, what happened between now and then? It seems like something must have happened to get 100pt+ drop (the normal 3 credit bureau scores might not reflect them).

 

[GFORCED]

I had a similar, strange experience with them. Got the loan approved and all info sent over, then suddenly the rep said it was denied. I have a 780 score and make enough money for a Tesla. I was upset so waited over the weekend and called back. Another rep takes over, gets approval, and said he couldn't find any record of an application or denial... So, the loan went through.

 

[avesraggiana]

I had a similar, strange experience with them. Got the loan approved and all info sent over, then suddenly the rep said it was denied. I have a 780 score and make enough money for a Tesla. I was upset so waited over the weekend and called back. Another rep takes over, gets approval, and said he couldn't find any record of an application or denial... So, the loan went through.

Your account is very strange indeed. It teaches me something, though. If I am denied, I’ll take a few days off to get over my huff, and then call them back again, and hope to get someone new. Did you involved your Delivery Specialist at any point, or did you contact Alliant directly?

 

[GFORCED]

Nah, the delivery specialist changed during the process as well. It was a little stressful for a couple days cause I sold my 7 Series to a cash buyer and didn't have a car! Anyway, the first guy I could tell was an amateur and I had read people on here with high 600 credit score getting deals, so I called back to talk to a manager and the guy that answered took the deal and made it happen. ;-)

 

[avesraggiana]

Nah, the delivery specialist changed during the process as well. It was a little stressful for a couple days cause I sold my 7 Series to a cash buyer and didn't have a car! Anyway, the first guy I could tell was an amateur and I had read people on here with high 600 credit score getting deals, so I called back to talk to a manager and the guy that answered took the deal and made it happen. ;-)

That’s really good to hear! I’ll follow your example and talk to the credit union or bank directly if I experience any problems.

Thanks for your update.