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Frequent Contributor
Posts: 443
Registered: ‎03-22-2008
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Credit Union Credit Card Question

I was on the website for a local credit union, considering switching over b/c HSBC is obnoxious (after three years there, they still cannot seem to get my name spelled right on my checks, debit cards, or accounts).  I noticed they had some good offers on credit cards, an AmEx in particular.  When I went to the application to scope it out, I noticed that it was through FIA.  Does this mean I would be dealing with BOA or does the credit union make the final decision regarding the approval process.  I know BOA is bk unfriendly, but was thinking that by moving accounts to the CU and my current scores, as well as 5.5 years of current excellent payment history would probably get me the card if it was not BOA.

Current:
TU (5/14/14): 796 (Inquiries; 8/23/13)
EQ (3/23/14): 791 (Inquiries: 8/23/13)
EX (9/24/13): 780 (Inquiries: 7/2/12; 11/20/12; 7/30/13; 8/23/13)

Goals: No new inquiries for 2014, 800 for all CRs by 12/31/14
Established Contributor
Posts: 577
Registered: ‎11-13-2008

Re: Credit Union Credit Card Question

You will be dealing with BOA. The CU probably markets their logo but uses BOA to issue....Dont even waste an INQ they are not BK friendly. You need a independent CU. (Federal or State)
Valued Contributor
Posts: 2,205
Registered: ‎12-06-2007

Re: Credit Union Credit Card Question

Many CU's who do not back their own credit cards use FIA I have noticed, so yes you would have to go through FIA/BoA's underwriting for approval.
Established Contributor
Posts: 577
Registered: ‎11-13-2008

Re: Credit Union Credit Card Question

with BOA its hard to say, I have heard stories of people getting a recon for circumstantial issues in their past from BOA but it depends on what mood the analyst is in. I would try Citi, they are better with 4 year post BK, Platinum Select. I have a Citi card and have a post 13.
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Established Contributor
Posts: 577
Registered: ‎11-13-2008
0

Re: Credit Union Credit Card Question

If its a state or federal CU they are independent and back their own CCs.

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