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Credit Card through Credit Union (Loanliner)

Established Contributor

Credit Card through Credit Union (Loanliner)

I've been looking for a good BT card and found that the CU that does my auto loan seems to have a great one.  It's a VISA with a year free intro rate for BT and purchases, and a 7.5% rate after that period ends.  It would be great so that i can mothball Barclay and my Capital One cards.  It looks like the app involves contacting my CU directly, and the form they use looks like it's serviced by LoanLiner.   Not sure if anyone has any experience with them.  Is there anything wrong with CU VISA cards that i might not know about?

Chase Freedom: $1500, Citi Diamond Preferred: $3000, Barclays: $3900, Chase Disney Visa: $1500, Chase Southwest Signature: $5000, Citi TY Preferred: $3000, Cap One Platinum: $1750, Cap One Platinum Rewards: $2500, Orchard Bank: $900, Kay Store Card: $6600, PayPal $2200
Message 1 of 7
6 REPLIES
Super Contributor

Re: Credit Card through Credit Union (Loanliner)


EaglesFan2006 wrote:

I've been looking for a good BT card and found that the CU that does my auto loan seems to have a great one.  It's a VISA with a year free intro rate for BT and purchases, and a 7.5% rate after that period ends.  It would be great so that i can mothball Barclay and my Capital One cards.  It looks like the app involves contacting my CU directly, and the form they use looks like it's serviced by LoanLiner.   Not sure if anyone has any experience with them.  Is there anything wrong with CU VISA cards that i might not know about?


There's a huge variation among CU cards (think of asking "Is there anything wrong with bank-issued VISA cards that I might not know about".  A First Premier card might get a different answer than a Chase one!).

 

Generally, APRs can be lower, and so can rewards.   But there are exceptions.

Message 2 of 7
Established Contributor

Re: Credit Card through Credit Union (Loanliner)

But is there a stigma the way there is with FP or Credit One?
Chase Freedom: $1500, Citi Diamond Preferred: $3000, Barclays: $3900, Chase Disney Visa: $1500, Chase Southwest Signature: $5000, Citi TY Preferred: $3000, Cap One Platinum: $1750, Cap One Platinum Rewards: $2500, Orchard Bank: $900, Kay Store Card: $6600, PayPal $2200
Message 3 of 7
New Contributor

Re: Credit Card through Credit Union (Loanliner)

I don't know of any stigma attached to credit cards through a credit union.  Sounds like a pretty standard 0% intro offer and decent rate.



Last app: 10/4/14
In the garden until Winter of 2016
Message 4 of 7
Super Contributor

Re: Credit Card through Credit Union (Loanliner)


EaglesFan2006 wrote:
But is there a stigma the way there is with FP or Credit One?

No, some of the most valued cards here are from CUs, such as Penfed, NFCU (and now NASA).     Underwriters will know that it's easier to get large CLs from these (and from Amex) so whatever weight is given to CLs on other cards, probably a little less weight is given to these, but no stigma.

Message 5 of 7
Moderator

Re: Credit Card through Credit Union (Loanliner)


EaglesFan2006 wrote:
But is there a stigma the way there is with FP or Credit One?

I highly doubt it.   For the record, FICO gives no stigma to FP or Credit One or any other rebuilders.  It'd really only be something noticed under manual review, and even on that, positive payment history looks good.   I think the CU deal sounds like desireable features for you.  



Start: 619 (TU08, 9/2013) | Current: 791 (TU08, 10/26/17)
Sam's Club MC $25000 | Marvel MC $25000 | Macy's AMEX $25000 | AMEX BCE $20400 | Discover IT $20000 | Macy's Store $20000 | Cap 1 QS WMC $17250 | BoA BBR #1 $17200 | JCP $15000 | Citi DC $12600 | Freedom VS $12000 | BofA BBR #2 $11800 | Disney VS $11500 | Care Credit MC $11200 | Cash+ VS $10500 | CashForward WMC $10000 | Barclay Rewards WMC $10000 | WCU Visa $10000 | Amazon Store $8000 | Blispay $7500 | Sony Card $4250 | Target MC $4000 | Costco Anywhere $3200 | ~~Gardening Since 11/2/17
Message 6 of 7
Valued Contributor

Re: Credit Card through Credit Union (Loanliner)

I got a VISA from a local CU. Again, was processed via LOANLINER.

I got the same terms you did - one year no interest in BTs or a Cash Advance.

Only difference is my purchase APR is 12.99% instead.

Hasnt hit my credit reports yet, but I did get a 5K limit with them. Smiley Happy
BK Discharge 2/11/14

Currently in the garden.
Message 7 of 7