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@haulingthescoreup wrote:
@imhotepng wrote:
Not sure I have ever heard of a credit union giving products without becoming a member.+1
You have to be a member. That's the whole point of a credit union: it's consumers joined to extend one another credit.
They are often better than banks about working with those with severe baddies, but they obviously vary a lot. It will probably also depend on how old the BK was, and what credit has been re-established since then.
+1
Perfect example...yours truly...
Had a banking relationship - checking and savings - with Solidarity FCU (Kokomo, IN) from 2009-2012. They were all too happy to allow my $70-80,000 to be run through their credit union, but with a BK7 on my report (regardless of age...their words...), I couldn't even get a SECURED card.
Fast forward to a couple of months ago...I accepted a position in Ft Wayne and subsequently opened an account with 3 Rivers FCU because of a referral and the fact that there are endless branches and ATMs (including Alliance One shared ATMs...no fees!). When I set up checking and savings with them, THEY reached out to ME about opening a credit card with them...an unsecured card with a line of $3,000 at 13% APR and no AF.
Point is, most CUs want the WHOLE financial house...CCs...bank accounts...home/auto loans...the works. They build RELATIONSHIPS. Some (like Solidarity) rely on the old banking guard manner by which to do business...which is to say that you are a credit report and score...nothing more. Others will work with you to the end of time...like 3 Rivers in Ft Wayne...and now they have a family member for life
I just joined my local CU via a credit card application.
After I was approved, the contacted me and informed that I wasn't a member, so I had to sign up.
No trouble, and a great card for me. (0% intro for 12 months...)
Ummm. It's the 2k zero interest deal that you already knew about.
@haulingthescoreup wrote:
@LS2982 wrote:
@amercnchopz34 wrote:will do ...thanks....what info would I need to provide to them you think...MY CCR was from 12/11.....unless there is something from MYFICO I could provide them?
I'd take a current printout of your FICO scorepower EQ/TU reports and ask if this would be approvable, now they are more than likely going to tell you just to app, they cant guide you but they may be able to guage if you have a chance.
Many (certainly not all) CU's pull Equifax.
If you have a recent FICO EQ pulled from here, print it out (score + report) and show it to the loan officer. Tell them it's a Beacon 5.0, and ask what they think.
They can't take you at your word that it's a legit report and score, of course, and they'd have to pull a real one if you apply, but they would probably be willing to say something like "If this is what we see when we pull your report, we could probably approve a blah blah blah."
Make sure they understand that you're not applying yet, and you don't want a hard pull, until you've done the above.
Let us know how it goes!
(Beacon 5.0 is the industry name for what we call the Equifax Classic FICO score. It's what you get here.)
great info!
My CU offers low interest CCs or 1% cash back on any purchase no limit. Also some CU will lower interest rates on an autoloan based on having other services with them.
ok so if someone is avg 660 score accoss all boards would they have a better chance at credit with a local CU or trying to find a prime CC? im with navy federal myself but only problem with that is there is no branches near me and the closest one is about 2 hrs away. ive been conteplating joining a local CU in my area.
@rootpooty wrote:ok so if someone is avg 660 score accoss all boards would they have a better chance at credit with a local CU or trying to find a prime CC? im with navy federal myself but only problem with that is there is no branches near me and the closest one is about 2 hrs away. ive been conteplating joining a local CU in my area.
660 should get you in with a local CU.
@CreditCrusader wrote:Perfect example...yours truly...
Had a banking relationship - checking and savings - with Solidarity FCU (Kokomo, IN) from 2009-2012. They were all too happy to allow my $70-80,000 to be run through their credit union, but with a BK7 on my report (regardless of age...their words...), I couldn't even get a SECURED card.
Fast forward to a couple of months ago...I accepted a position in Ft Wayne and subsequently opened an account with 3 Rivers FCU because of a referral and the fact that there are endless branches and ATMs (including Alliance One shared ATMs...no fees!). When I set up checking and savings with them, THEY reached out to ME about opening a credit card with them...an unsecured card with a line of $3,000 at 13% APR and no AF.
Point is, most CUs want the WHOLE financial house...CCs...bank accounts...home/auto loans...the works. They build RELATIONSHIPS. Some (like Solidarity) rely on the old banking guard manner by which to do business...which is to say that you are a credit report and score...nothing more. Others will work with you to the end of time...like 3 Rivers in Ft Wayne...and now they have a family member for life
I agree with this, because I've experienced it. My CU invited me to apply for a Visa. I didn't think I had a chance, but they approved me (and my loan officer pushed for my approval)...$500, but that's great for me right now. If I'd been dealing with a bank, they would have never offered me anything, and they would have laughed if I'd asked them for a line of credit.