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Established Contributor
Simply827
Posts: 651
Registered: ‎10-15-2012
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Re: Credit unions more generous with CLs than big banks?

I just joined PSECU. Hopefully they're generous. :smileyhappy:


Starting Score: 515
Current Score: EQ 667 EX 670 TU 683
Goal Score: 700+

PSECU $10000 | Discover IT $9250 | DCU $5000 | Chase Freedom $4000 | Citi TYP $3500 | Barclay Ring $3500 | PayPal Extras MC $3000 | US Airways $2000 | Cap 1 Platinum $1700 | Cap 1 QS One $1500 | Union Plus $1000 | Target $200
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DaveSignal
Posts: 2,093
Registered: ‎07-29-2011
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Re: Credit unions more generous with CLs than big banks?

I am a member at PenFed, but have never applied for their credit card.  This is a very hard card to get.

I am a member at PSECU, but only for the credit score.  Their card doesn't really interest me.

It took a decent effort, multiple trips to the credit union, and a recon letter to get my SDFCU card.

The only credit union that gave me a quick and easy, instantly high-limit card was NFCU.

 

EX:694 TU:744 EQ:701
Amex ED $19.5k - BoA Travel Rewards $15k - CSP $5k - SDFCU EMV $15k - NFCU goRewards $20k - Barclays Arrival $6.5k
Established Contributor
Simply827
Posts: 651
Registered: ‎10-15-2012
0

Re: Credit unions more generous with CLs than big banks?


DaveSignal wrote:

I am a member at PenFed, but have never applied for their credit card.  This is a very hard card to get.

I am a member at PSECU, but only for the credit score.  Their card doesn't really interest me.

It took a decent effort, multiple trips to the credit union, and a recon letter to get my SDFCU card.

The only credit union that gave me a quick and easy, instantly high-limit card was NFCU.

 


I wasn't interested in PSECU's card at first; I primarily wanted an auto loan and the FICO score. I'm still on the fence about their card. It does have 9.9% APR if I need to carry a balance and 2.9% APR for BTs. If I could get a decent CL with them, that may help me get a better CL with Chase when I app later this year. My highest CL so far is only 1K.


Starting Score: 515
Current Score: EQ 667 EX 670 TU 683
Goal Score: 700+

PSECU $10000 | Discover IT $9250 | DCU $5000 | Chase Freedom $4000 | Citi TYP $3500 | Barclay Ring $3500 | PayPal Extras MC $3000 | US Airways $2000 | Cap 1 Platinum $1700 | Cap 1 QS One $1500 | Union Plus $1000 | Target $200
Community Leader
Valued Contributor
DaveSignal
Posts: 2,093
Registered: ‎07-29-2011
0

Re: Credit unions more generous with CLs than big banks?


Simply827 wrote:

DaveSignal wrote:

I am a member at PenFed, but have never applied for their credit card.  This is a very hard card to get.

I am a member at PSECU, but only for the credit score.  Their card doesn't really interest me.

It took a decent effort, multiple trips to the credit union, and a recon letter to get my SDFCU card.

The only credit union that gave me a quick and easy, instantly high-limit card was NFCU.

 


I wasn't interested in PSECU's card at first; I primarily wanted an auto loan and the FICO score. I'm still on the fence about their card. It does have 9.9% APR if I need to carry a balance and 2.9% APR for BTs. If I could get a decent CL with them, that may help me get a better CL with Chase when I app later this year. My highest CL so far is only 1K.


You might as well try if you think it is a good card for you.  My own circumstances are different.

Of the main cards that I use, my USAA card is currently at 4% APR, my BoA card is at a 0% promotion, im using NFCU for a 0% balance transfer promotion, and my SDFCU card is permanently at 6.99% APR.  I don't pay interest on any of them, but if I had to, none would hurt much.  All of these cards offer rewards that I collect and save and watch for specific items that I may one day spend a ton of points on. 
Due to having these good cards already, It doesn't make much sense for me to apply for a card with a 9.9% APR and no rewards.

EX:694 TU:744 EQ:701
Amex ED $19.5k - BoA Travel Rewards $15k - CSP $5k - SDFCU EMV $15k - NFCU goRewards $20k - Barclays Arrival $6.5k
Established Contributor
Simply827
Posts: 651
Registered: ‎10-15-2012
0

Re: Credit unions more generous with CLs than big banks?


DaveSignal wrote:

Simply827 wrote:

DaveSignal wrote:

I am a member at PenFed, but have never applied for their credit card.  This is a very hard card to get.

I am a member at PSECU, but only for the credit score.  Their card doesn't really interest me.

It took a decent effort, multiple trips to the credit union, and a recon letter to get my SDFCU card.

The only credit union that gave me a quick and easy, instantly high-limit card was NFCU.

 


I wasn't interested in PSECU's card at first; I primarily wanted an auto loan and the FICO score. I'm still on the fence about their card. It does have 9.9% APR if I need to carry a balance and 2.9% APR for BTs. If I could get a decent CL with them, that may help me get a better CL with Chase when I app later this year. My highest CL so far is only 1K.


You might as well try if you think it is a good card for you.  My own circumstances are different.

Of the main cards that I use, my USAA card is currently at 4% APR, my BoA card is at a 0% promotion, im using NFCU for a 0% balance transfer promotion, and my SDFCU card is permanently at 6.99% APR.  I don't pay interest on any of them, but if I had to, none would hurt much.  All of these cards offer rewards that I collect and save and watch for specific items that I may one day spend a ton of points on. 
Due to having these good cards already, It doesn't make much sense for me to apply for a card with a 9.9% APR and no rewards.


I think it may serve as a good "bridge" card on my way to Primeville. To me 9.9 is a great rate considering my next lowest is 17.9.


Starting Score: 515
Current Score: EQ 667 EX 670 TU 683
Goal Score: 700+

PSECU $10000 | Discover IT $9250 | DCU $5000 | Chase Freedom $4000 | Citi TYP $3500 | Barclay Ring $3500 | PayPal Extras MC $3000 | US Airways $2000 | Cap 1 Platinum $1700 | Cap 1 QS One $1500 | Union Plus $1000 | Target $200
Community Leader
Valued Contributor
DaveSignal
Posts: 2,093
Registered: ‎07-29-2011
0

Re: Credit unions more generous with CLs than big banks?

9.9% definately is a great rate for a credit card.  PSECU is at prime level already in that it has a good APR and doesn't charge fees.  There are specific circumstances that have allowed me to utilize occasional promotions on cards that I don't always use that have made PSECU not something that I need at this time.  I do wish PSECU would offer a rewards program on their card though.

EX:694 TU:744 EQ:701
Amex ED $19.5k - BoA Travel Rewards $15k - CSP $5k - SDFCU EMV $15k - NFCU goRewards $20k - Barclays Arrival $6.5k

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