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Credit unions more generous with CLs than big banks?

Established Contributor

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

I just joined PSECU. Hopefully they're generous. Smiley Happy


Starting Score: 515
Current Score: EQ08 711 EX08 731 TU08 735
Goal Score: 740+

Amex BCP $25k | Discover IT $15.7k | Cap 1 QS $10k | PSECU $10k | Citi DC $9300 | Citi DP $6800 | Barclay Ring $6500 | PayPal Extras MC $5045 | DCU $5000 | Chase Slate $5000 | Barclays AA $4100 | Chase Freedom $4000 | Union Plus $1000 | Target $500
Message 21 of 26
Valued Contributor

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:777
Amex ED $19.5k - BoA Travel Rewards $15k - CSP $5k - SDFCU EMV $15k - NFCU goRewards $20k - Barclays Arrival $6.5k
Message 22 of 26
Established Contributor

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: EQ08 711 EX08 731 TU08 735
Goal Score: 740+

Amex BCP $25k | Discover IT $15.7k | Cap 1 QS $10k | PSECU $10k | Citi DC $9300 | Citi DP $6800 | Barclay Ring $6500 | PayPal Extras MC $5045 | DCU $5000 | Chase Slate $5000 | Barclays AA $4100 | Chase Freedom $4000 | Union Plus $1000 | Target $500
Message 23 of 26
Valued Contributor

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:777
Amex ED $19.5k - BoA Travel Rewards $15k - CSP $5k - SDFCU EMV $15k - NFCU goRewards $20k - Barclays Arrival $6.5k
Message 24 of 26
Established Contributor

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: EQ08 711 EX08 731 TU08 735
Goal Score: 740+

Amex BCP $25k | Discover IT $15.7k | Cap 1 QS $10k | PSECU $10k | Citi DC $9300 | Citi DP $6800 | Barclay Ring $6500 | PayPal Extras MC $5045 | DCU $5000 | Chase Slate $5000 | Barclays AA $4100 | Chase Freedom $4000 | Union Plus $1000 | Target $500
Message 25 of 26
Valued Contributor

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:777
Amex ED $19.5k - BoA Travel Rewards $15k - CSP $5k - SDFCU EMV $15k - NFCU goRewards $20k - Barclays Arrival $6.5k
Message 26 of 26