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How manyCredit unions

Contributor

How manyCredit unions

I just joined my local credit union today and opened a savings account today so I can build a relationship with them for future cc and car loans. (the only thing that sucked it's that they pulled my Transunion and I found out it lowered from new accounts opened ..my cap one and an installment loan) it is 547 from what my signature says... Smiley Sad But just wondering can you join more than one credit union because I just found another one online that offers a little better rates on CC and car loans. That I qualify aswell by my location.

Can you join more than one?
My Wallet:

Amex Zync - NPSL
Capital one - Secured $600 (soon to be axed)
Discover More - $1000

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Message 1 of 12
11 REPLIES
Valued Contributor

Re: How manyCredit unions

You can join as many credit union as you like. Be aware most credit union "hard" pull your credit report even if you don't app for a credit card or a loan.

Message 2 of 12
Contributor

Re: How manyCredit unions

Yea that's what the lady told me before beginning the new member application, but went ahead because I heard credit unions are easy to work with in very aspect of finance..so it had to be done. And this new one that I found looks more friendly,more appealing and better with rates (not a lot) but they seem more updated ..the one I just joined was like all 70's equipment and mostly old ppl!! Lol idk if I'm wrong but this one looks like they put out more for the members than the one I just joined!
My Wallet:

Amex Zync - NPSL
Capital one - Secured $600 (soon to be axed)
Discover More - $1000

Take the FICO Fitness Challenge
Message 3 of 12
Contributor

Re: How manyCredit unions

What would you recommend?
My Wallet:

Amex Zync - NPSL
Capital one - Secured $600 (soon to be axed)
Discover More - $1000

Take the FICO Fitness Challenge
Message 4 of 12
Valued Contributor

Re: How manyCredit unions

What are you worried about in joining a second credit union?  Spreading your balances too thin?  Another hard inquiry?  You're probably fine, but you've got some work to do before you get a good card / auto loan rate / etc. 


Starting Score: EQ 583 TU04 619 EX 592 (lender pull) 2010
Previous High Score: EQ 700 TU04 712 EX 726
Current Score: EQ 740 TU(Discover) 750 EX(AMEX) 747
Goal Score: 740+ all around


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Message 5 of 12
Moderator Emeritus

Re: How manyCredit unions


New2score wrote:
What would you recommend?

Depends on your goals. If your goal is to get a CC, then some CUs offer CCs that are easy to get with a lower score. Some CUs offer higher limit CCs. Some CCs are hard to get by some CUs. YMMV. And some join for the benefits offered by that CU, like getting your EX FICO from PSECU. And ditto, you can join as many as you want. I belong to NFCU, Penfed, NASA, and a local one here, though I only have one CC from a CU and that's NFCU.

Message 6 of 12
Valued Contributor

Re: How manyCredit unions

Member of 3 CUs.  2 CCs from the 3...one is by far my highest limit, the other is by far my lowest.

FICO Scores Updated 07/15 EQ08 748 EX08 748 TU08 818
Message 7 of 12
Contributor

Re: How manyCredit unions

I decided to go ahead and pull the trigger so that way all my inq fall off the same time ..I joined corporate America family credit union ..quite nice.
My Wallet:

Amex Zync - NPSL
Capital one - Secured $600 (soon to be axed)
Discover More - $1000

Take the FICO Fitness Challenge
Message 8 of 12
Valued Contributor

Re: How manyCredit unions

I am probably pitching in too late, but I still want to add my quarter cent

 

The only thing not so great about CUs is that they almost never have good rewards programs on their cards (excluding like 2-3 or 5 CUs) so though many of them may be great for mortgages/auto loans, you always need to be careful about how many CU cards you end up having.

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Message 9 of 12
Frequent Contributor

Re: How manyCredit unions

I would suggest a local CU and one of the folowing-NFCU,NASA, Addison Avenue,Alliant or PENFED-I'm a member of NFCU,Addison, Alliant, and NASA-have credit products w/NFCU and Addison-I've also heard that CU's are great for a Mortgage/Auto Loan(as the OP stated earlier)-as far as rewards,my Flagship Visa is pretty goodSmiley Happy

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First Tech Federal Visa Platinum(15K CL); Simmons First Visa Platinum(9K CL); Wells Fargo Visa Platinum(7.5K CL); CitiBank Sears MC(6K CL); JCPenney Card(7.5K CL); Lowes(2.5K CL);Barclays Mile & More Lufthansa 12.5K.
Message 10 of 12