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@haulingthescoreup wrote:
I would advise any active duty military member to join all three.
For credit now, Navy.
Get an insurance product going with USAA, like renter's insurance, or open a Roth IRA.
Do something similar with PenFed.
The name of the game is getting in while eligible and establishing a history. Membership is basically free, other than the $5 share account opening with Navy and PenFed.
And FWIW, PenFed isn't precisely a "military" credit union, and USAA is a federal savings bank, as mentioned above, but I know that's how we all think of these guys.
+1 with heavy emphasis on Navy and USAA.
@Creditaddict wrote:I'm helping a friend and he has low 600 scores and only 1 credit card (store) and 1 car loan.
Which credit union would be best to join to get a credit card and refi of car?
Definately recommend NFCU!
@smallfry wrote:
I would never advocate taking a hard inquiry to open a savings account. I don't think it helps down the road but some disagree. In time if things go along as they seem to be Penfed will be as difficult to get a credit card from as AMEX used to be. I would agree with what Hauling posted about Navy and USAA.
Navy and USAA only soft for membership/savings.
@Anonymous wrote:
@smallfry wrote:
I would never advocate taking a hard inquiry to open a savings account. I don't think it helps down the road but some disagree. In time if things go along as they seem to be Penfed will be as difficult to get a credit card from as AMEX used to be. I would agree with what Hauling posted about Navy and USAA.
Navy and USAA only soft for membership/savings.
OP had some interest in Penfed. For a number of reasons I think it's a wasted pull. There is no reason to open a savings account with them now in the hopes of getting a credit card in 2-3 years. 600 EQ won't cut it.