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Frequent Contributor
Posts: 470
Registered: ‎08-14-2012
0

PSECU --- now what?

So I joined PSECU basically because... I could... lol. I got it for the EX Fico score mostly, but now that I am a member is there anything that I should really do other than just get my Fico score from them? I've seen countless posts in the past about their high CL's, but I was planning on gardening what I have for a little bit, at least until I 3x my CL on my BCE (hopefully). Yeah, I would like a high CL card, but I was thinking it would be more important to get my BCE CL up before app'ing for any future cards. To be honest, I really do not understand CU's all that much, and I really do not plan on using them for my normal banking since they don't have a location near me. I know they are good for other sorts of loans, but I really have no use for any more loans at this time in my life. Advice?

In my wallet: Amex PRG & Zync, Amex BCE (19.2k), Chase Freedom (5k), PSECU Visa/PSL (20k)
Current Scores: Equifax: 738 (Fako) TransUnion: 721 (Fico) Experian: 717 (Fico)
Disclaimer: I am by no means a financial advisor. My posts are based on opinion, experience, and/or knowledge.
Valued Contributor
Posts: 3,096
Registered: ‎01-26-2012
0

Re: PSECU --- now what?

PSECU is great credit union.  They have an unique product that is a COMBO credit card/LOC.  Basically they share they same total credit line.  However if I remember correctly, they report to credit bureaus as two different products with CL of COMBO showing.  Because of the COMBO product, your CL tends to be higher so basically higher CL showing on credit report twice Smiley Happy.

 

Aside from that, they are generous (not as much as NFCU.  No one is) with people with less than perfect credit.  Also, they have good/great rates on their loan products.

 

If I was you, I would just chill out applying with them until your Amex CLI request goes through.  Let that new AMEX CL report, then app for their COMBO product.  Goal would be to get monster CL compared to what you have today.  Also, card has interest rate floor of 9.9% for everything (including cash advance)  which is pretty good and has basically no fees (no bt, no cash advnace, etc.).  Decent card if you need to revolve a balance.  Use the card a little to build history.

 

When you need loan product, PSECU should definitely be considered.

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Frequent Contributor
Posts: 470
Registered: ‎08-14-2012
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Re: PSECU --- now what?

Thanks for the info Crashem. I tried to look stuff up on here but 99% of the threads were how to actually get into it. I heard they were a great CU years ago when I started working diligently on my credit) so I figured I might as well join them. I did app 2 years ago but never sent in the form to fully complete membership. The Combo CC/LOC sounds great!! Is that just their standard Visa credit card? I'll definitely wait until I build up my BCE before going for it! Do they care if you have balances in your accounts other than the minimums required to join?

In my wallet: Amex PRG & Zync, Amex BCE (19.2k), Chase Freedom (5k), PSECU Visa/PSL (20k)
Current Scores: Equifax: 738 (Fako) TransUnion: 721 (Fico) Experian: 717 (Fico)
Disclaimer: I am by no means a financial advisor. My posts are based on opinion, experience, and/or knowledge.
Contributor
Posts: 92
Registered: ‎06-16-2012
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Re: PSECU --- now what?


jd5189 wrote:

Thanks for the info Crashem. I tried to look stuff up on here but 99% of the threads were how to actually get into it. I heard they were a great CU years ago when I started working diligently on my credit) so I figured I might as well join them. I did app 2 years ago but never sent in the form to fully complete membership. The Combo CC/LOC sounds great!! Is that just their standard Visa credit card? I'll definitely wait until I build up my BCE before going for it! Do they care if you have balances in your accounts other than the minimums required to join?


I was looking for ways to join too earlier on in the year myself. Hope that it works out well for you!

Current: EQ 791 / TU 788 / EX 752 FICO's (MyFico, Oct 2012)

*** NFCU Plat | USAA CR Amex | PenFed TR Amex | BOA Gold | JP Morgan Select | Amex BCP | Amex PRG | USAA Plat ***
Valued Contributor
Posts: 3,096
Registered: ‎01-26-2012
0

Re: PSECU --- now what?


jd5189 wrote:

Thanks for the info Crashem. I tried to look stuff up on here but 99% of the threads were how to actually get into it. I heard they were a great CU years ago when I started working diligently on my credit) so I figured I might as well join them. I did app 2 years ago but never sent in the form to fully complete membership. The Combo CC/LOC sounds great!! Is that just their standard Visa credit card? I'll definitely wait until I build up my BCE before going for it! Do they care if you have balances in your accounts other than the minimums required to join?


nope.  Don't worryabout balances.  Call them about combo product.  I could find on website either.  I hope they still offer it.

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Frequent Contributor
Posts: 470
Registered: ‎08-14-2012
0

Re: PSECU --- now what?

A_Madel, do you have any immediate family members in PA? That is an easy way in. Once I was approved, I was told any immediate family members could now join that I was a member. I got in through the PA Parks and Recreation donation which I donate yearly to anyway.

In my wallet: Amex PRG & Zync, Amex BCE (19.2k), Chase Freedom (5k), PSECU Visa/PSL (20k)
Current Scores: Equifax: 738 (Fako) TransUnion: 721 (Fico) Experian: 717 (Fico)
Disclaimer: I am by no means a financial advisor. My posts are based on opinion, experience, and/or knowledge.
Frequent Contributor
Posts: 470
Registered: ‎08-14-2012
0

Re: PSECU --- now what?

Crashem,
I'll give them a call and ask when I'm ready to app for it. Otherwise, if they say yes, I will be tempted... Smiley Happy
In my wallet: Amex PRG & Zync, Amex BCE (19.2k), Chase Freedom (5k), PSECU Visa/PSL (20k)
Current Scores: Equifax: 738 (Fako) TransUnion: 721 (Fico) Experian: 717 (Fico)
Disclaimer: I am by no means a financial advisor. My posts are based on opinion, experience, and/or knowledge.
Contributor
Posts: 92
Registered: ‎06-16-2012
0

Re: PSECU --- now what?


jd5189 wrote:

A_Madel, do you have any immediate family members in PA? That is an easy way in. Once I was approved, I was told any immediate family members could now join that I was a member. I got in through the PA Parks and Recreation donation which I donate yearly to anyway.


Nope, unfortunately I don't. Howevee, I may have eligibilty through an employer association. I was actually almost throught the membership application and backed away from the edge.... Lol Smiley Happy I may keep them insight for next year. Gotta let my newbies age and build some distance from my recent inqs. I saw the PA parks & recreation membership, that was a good backdoor. But, they have it under lock and key now - you must also be a state resident. 

Current: EQ 791 / TU 788 / EX 752 FICO's (MyFico, Oct 2012)

*** NFCU Plat | USAA CR Amex | PenFed TR Amex | BOA Gold | JP Morgan Select | Amex BCP | Amex PRG | USAA Plat ***
Valued Contributor
Posts: 3,096
Registered: ‎01-26-2012
0

Re: PSECU --- now what?


A_Madel wrote:

jd5189 wrote:

A_Madel, do you have any immediate family members in PA? That is an easy way in. Once I was approved, I was told any immediate family members could now join that I was a member. I got in through the PA Parks and Recreation donation which I donate yearly to anyway.


Nope, unfortunately I don't. Howevee, I may have eligibilty through an employer association. I was actually almost throught the membership application and backed away from the edge.... Lol Smiley Happy I may keep them insight for next year. Gotta let my newbies age and build some distance from my recent inqs. I saw the PA parks & recreation membership, that was a good backdoor. But, they have it under lock and key now - you must also be a state resident. 


madel, someone else will need to confirm.  Is there a hard inquiry just to join?  If so, I would take inquiry now so it can age with rest.  Otherwise your plan seems sound.

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Frequent Contributor
Posts: 470
Registered: ‎08-14-2012
0

Re: PSECU --- now what?

I have not received a hard inq ... yet. But I just sent in my signature form today. They might hard inq after they receive the sig form.

In my wallet: Amex PRG & Zync, Amex BCE (19.2k), Chase Freedom (5k), PSECU Visa/PSL (20k)
Current Scores: Equifax: 738 (Fako) TransUnion: 721 (Fico) Experian: 717 (Fico)
Disclaimer: I am by no means a financial advisor. My posts are based on opinion, experience, and/or knowledge.

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