I became a member of DCU after my discharged chapter 7 bankruptcy in hopes of rebuilding my credit score, at DCU they are amazing, they offer the secured credit card that reports to all credit bureau's with NO annual fee! Simply Amazing!
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I got an Auto loan approved with DCU for a bit higher rate, as i knew my credit report was not so great at that point. After talking to the customer support personnel, they have promised a reduction in interest rate as a promotional offer (0.5% deduction) with direct deposit and a 0.25% deduction in interest rate, for every 3 consecutive payments on time. Now this is where the promises failed, i made sure that i asked them this question of, does a partial direct deposit come under this promotional offer and they have agreed for this. But, after 90 days of my loan starting, they have revoked the deduction interest rate saying that they would require a full direct deposit, which was never a statement from them. When i contacted them about this issue, they have some customer service people with half knowledge of what is happening and what needs to e done. Neverthless, i was declined this offer and i did not bother about this, as i knew it would lot of time from my personal schedule. After a few months, i made a wrong payment, instead of making a regular one, i made a principal only amount. I agree this was my mistake, remember the 0.25% deduction in interest for every 3 consecutive payments ? Well, they stopped this offer from that time, about 7-8 months now. When i tried to contact the customer support, they have argued that the offer is no longer valid for new customers. I know, i'm a old customer. It took almost 30-45 minutes for me to get this to their head. And now i got another new rule thrown at me, saying that from the time of wrong payment month, it will take another 3 months of consecutive payments to qualify for this offer and it will start from the next 3 payments. Basically, the wrong payment was in February, i had to pay my bill for March, April and May to qualify for this offer and from then i always made ontime paymets. So according to their new rule, there should be a 2 0.25% deduction in interest rate (June, July, Augusta, September, October, November). But here comes the reason for my title, the interest rate is still the same. I WOULD NOT RECOMMEND DCU to any of my friends/family. I'm just waiting to get out from DCU. I wish i could give 0 star.