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Epic Contributor
Posts: 28,032
Registered: ‎10-23-2007
0

Local Credit Union Credit Card

Opened a new account last week and applied for credit card.  They pulled TU 576, which is up from 540 about 6 months ago.  She said with that score they could allow 2500 in unsecured line of credit, HOWEVER I currently have 68k according to credit report, think it's more in the 50k range but either way until I pay the debt to below 10% it will count against me.  She said the rule of only 2500 would go away if I was not utilizing any of my current lines.
 
So in the end I took a 500 secured card so I can prove to her debt and all I'm a good paying customer!
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Valued Contributor
Posts: 2,205
Registered: ‎12-06-2007
0

Re: Local Credit Union Credit Card

It's a start and you will be building up some history in the mean time. Smiley Happy
Super Contributor
Posts: 6,026
Registered: ‎09-18-2007
0

Re: Local Credit Union Credit Card

Good start. I would have taken $2500 unsecured instead. Again that is me...
Epic Contributor
Posts: 28,032
Registered: ‎10-23-2007
0

Re: Local Credit Union Credit Card

sorry I made that confusing, she said based on my low credit score, I would only be allowed a TOTAL of 2500 worth of unsecured IF I had NO OTHER LINES. BUT as it stands I have over 60k in lines according to them and credit report.  so until I pay off all the balances to below 9% and my score is higher, the only option was secured.
My Gardening 04/29/2016 All 3 Reports on Lockdown
Partner Joined Garden 04/11/2016
Super Contributor
Posts: 6,026
Registered: ‎09-18-2007
0

Re: Local Credit Union Credit Card

I got it... That is a good start. What is the name of your CU?
Epic Contributor
Posts: 28,032
Registered: ‎10-23-2007
0

Re: Local Credit Union Credit Card

Kentucky Telco
I also have a signature loan through L&N Federal Credit Union - one of the accounts ky telco didn't like!
BofA didn't even count this account against us because it's a loan "unsecured loan" but none the less.
but ky telco treated this like a big credit card that was nearly maxed out.
My Gardening 04/29/2016 All 3 Reports on Lockdown
Partner Joined Garden 04/11/2016
Super Contributor
Posts: 6,026
Registered: ‎09-18-2007
0

Re: Local Credit Union Credit Card

Thanks. Would they allow people from out of state join this CU? I like the idea they pull TU. What is the requirements to join your CU?
Epic Contributor
Posts: 28,032
Registered: ‎10-23-2007
0

Re: Local Credit Union Credit Card

ky telco is local
LNFCU.com they might allow anyone to join but they don't service there own credit card, but loans and car loans seem to be pretty easy especially if you don't have much debt.
My Gardening 04/29/2016 All 3 Reports on Lockdown
Partner Joined Garden 04/11/2016
Established Contributor
Posts: 1,045
Registered: ‎12-30-2007
0

Re: Local Credit Union Credit Card

i bank w/alabama telco as my credit union. they allow people out of state i think i had a friend who lived in ca and got an acct..that's been a while though, the site is www.alabamatelco.org
~01/2008 Ficos TU 571-EX 647-EQ 652~
~3/21/2009 Ficos TU 705 EX 702 EQ 692~
~9/9/09 Ficos TU 718 EQ 693 EX???
~06/25/12 Ficos TU 719 EQ 677 EX??
Established Contributor
Posts: 1,045
Registered: ‎12-30-2007
0

Re: Local Credit Union Credit Card

i bank w/alabama telco as my credit union. they allow people out of state i think i had a friend who lived in ca and got an acct..that's been a while though, the site is www.alabamatelco.org
~01/2008 Ficos TU 571-EX 647-EQ 652~
~3/21/2009 Ficos TU 705 EX 702 EQ 692~
~9/9/09 Ficos TU 718 EQ 693 EX???
~06/25/12 Ficos TU 719 EQ 677 EX??

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