Credit Card Center Advertiser Disclosure

Reply
Valued Member
Posts: 42
Registered: ‎03-17-2017
0 Kudos

Credit Union Apps, please advice

Hi guys,

 

I'm currently rebuilding and have used a lot of info from the contributions in this forum. So thank you everyone for sharing.

 

My current credit scores from CK are: TU 556 and EQ 556, EX - (No fico score) 

 

I spent some time yesterday applying and joining CU's. I'll list my progress and please advice me on a few things. 

 

PENFED 

Joined through NLUS. I called in to complete the application due to errors on their website.

 

Result - Only approved for Savings account. Rep suggested I reapply in 60 days for checking as my credit improves for their checking account. I didn't get any inquiry alerts so I guess there was no inquiry? My plan is to deposit small amounts to keep the account active then reapply for checking. 

 

Any other suggestions?

 

UNIFY CREDIT UNION

The application didn't ask for any affiliations? It did ask for $25 Minimum Deposit for eChecking but didn't ask for the typical $5 for savings, so I'm not sure if I missed a step?

 

Result - I completed the app and was instantly approved. Experian inquiry. $25 Deposit eChecking.

Credit App - I applied to see if I can qualify for their Visa Card, I will be submitting POI to complete the app.

 

Any other comments or suggestions?

 

WSECU - Washington State Employees Credit Union

Join as I work/live in Washington. This will be my main banking account.

 

Result - Online app, instantly approved for savings then called in to add checking account. Transunion Inquiry. $5 Deposit.

Credit App - I applied for their Visa Rewards. I am pre-approved with stipulations $1,500 starting limit.

 

Stipulations they are asking for

·         Terms (when you are ready please give us a call so we can go over these with you) - Completed

·         Verification of Income: most recent paystub dated within the last 30 days or last two years of tax returns if self-employed - Completed

·         Documentation that judgement/lien has been cleared - I have 5. 2 - I'm paying now, 3 - I'm going to make arrangements (These are from a business I started but went negative)

·         Documentation that collections have been cleared - 7 Total. 5 are medical, 1 from comcast that I disputed through equifax and removed, 1 is a collection from one of the liens. 

 

I have 60 days to provide documents for the stipulations. I went to Transunion online to dispute Comcast and 3 medicals (not disputing, asked for early exclusion) So I'm crossing my fingers that they remove it. My online hold back would be the liens. 

 

Any suggestions on how I can speak or plead my case to the loan rep? or any other suggestions you guys have would be appreciated. Thank you guys!!

 

Also, if you need more info from me let me know, I'm happy share.

 

 

Valued Contributor
Posts: 2,228
Registered: ‎02-14-2016

Re: Credit Union Apps, please advice

Sounds like you are doing everything that can be done at the moment. With all those recent negatives going on, and thus the resulting very low FICO scores you may just have to sit tight and let the dust settle.

 

You *might* be able to get a secured card with someone but get those negative items squared away first.

Senior Contributor
Posts: 8,150
Registered: ‎04-23-2016

Re: Credit Union Apps, please advice

Yup, you are doing what can be done. The negs are hurting you for now. Good luck on getting your visa with your local CUSmiley Happy
New Visitor
Posts: 2
Registered: ‎03-20-2017
0 Kudos

Re: Credit Union Apps, please advice

Have you considered joining BECU?

Highlighted
Valued Contributor
Posts: 1,515
Registered: ‎06-27-2014
0 Kudos

Re: Credit Union Apps, please advice

I don't know the requirements, but NFCU has a nice secured card.  Penfed isn't really known for working with people with dirty files.

Senior Contributor
Posts: 8,150
Registered: ‎04-23-2016

Re: Credit Union Apps, please advice

Penfed does its just we are kept on the left side behind the planter when you walk in Smiley Wink
Established Contributor
Posts: 541
Registered: ‎01-16-2016
0 Kudos

Re: Credit Union Apps, please advice


AverageJoesCredit wrote:
Penfed does its just we are kept on the left side behind the planter when you walk in Smiley Wink

Penfed is the reason I skip not walk. 😊😊😊

Regular Contributor
Posts: 205
Registered: ‎09-27-2008
0 Kudos

Re: Credit Union Apps, please advice

I would be interested to see your real FICO scores instead of your CK FAKO score. It might give you a better idea of what you are really working with.

Starting Scores: September 2015 - 500 across the board
Current Scores: June 2017 EQ: 697 TU: 695 EX: 690

In My Wallet:
Cap1 QS: $4K - AMEX BCP: $4.2K - Old Navy Visa: $5K - SDCCU: $1.5K - VS $500 (FTW!)
BofA AU: $12K AMEX AU: $15K
Senior Contributor
Posts: 6,978
Registered: ‎06-22-2015
0 Kudos

Re: Credit Union Apps, please advice

[ Edited ]

gideon99 wrote:

Have you considered joining BECU?


Agree that BECU is at the top of the list. Definitely outstanding. Smiley Happy

 

I also agree with the others that you need to obtain your real scores, not your CK (fake) scores. The scores you have listed are a little low for BECU approval.



Favorite Cards : ~ Citi Double Cash World Elite MasterCard ~
~ American Express Blue Cash Preferred ~ Chase Hyatt Visa Signature ~
~ Citi AAdvantage World Elite MasterCard ~ Citi Prestige ~ Alaska Airlines Visa Signature ~ Discover it Miles ~
Valued Member
Posts: 42
Registered: ‎03-17-2017
0 Kudos

Re: Credit Union Apps, please advice

I don't have fico score yet. Since, 18 years old to now 33. Never had a loan or credit cards. Downside, I had a lot of medical collections and 4 liens from a failed LLC business.

Started building October 2016. Here's what I've been able to achieve.

My very first auto loan opened October 2016. With no score nor history paired with collections and liens. Down payment was $3k and sad to say 29% Apr on 24 month loan. (no laughing)

Nov '16 - Discover IT Secured - $200

Dec - Fingerhut - $180 (two more low payments on first payment but want to just pay it off)

Dec 16 - Credit One unsecured - $300

Hope this gives an idea. Thanks for the replies.

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.