Credit Cards

[smallfry]

Penfed is the 3rd largest CU in the country. I've heard JFCU will grill you on the phone asking for incidentals about the BK. Who needs that?

[FaircreditguyFL]

That's the first I heard JFCU grilling anyone. Perhaps the times are changing with JFCU...

[smallfry]

All over CB at least the last 6 months or so.

[beenthere]

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cheddar wrote:

I can't answer your questions about BK, but the qualifying organization for joining JFCU is the National Sherrifs Association.  Anyone can join.

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Oh. I saw that but wouldn't figure anyone could join. This is a good thing. Thank you.

[beenthere]

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FaircreditguyFL wrote:
With the 5.6 year old BK, I would go with JFCU. If you get your score up another 25 pts, I would then apply for PenFed. JFCU will ask for financial documentation and set your exposure limit to 30% of your income (but will go higher). PenFed has yet to ask me for financial info... and gave me a lower credit limit than JFCU.

You can't wrong with either IMHO.

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Thank you.

I do have every reason to believe I will be in the 700s across the board well before years end. I will be researching both institutions very carefully.

[beenthere]

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FaircreditguyFL wrote:
... and PenFed DOES NOT like recently open tradelines.

Message Edited by FaircreditguyFL on 05-05-2008 02:25 PM

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How recent is recent?

[beenthere]

6 figures? Not even close. LOL.

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smallfry wrote:
Income helps with Penfed. IMHO that are light years better than JFCU. Are you in or close to 6 figures?

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[FaircreditguyFL]

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beenthere wrote:

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FaircreditguyFL wrote:
... and PenFed DOES NOT like recently open tradelines.

Message Edited by FaircreditguyFL on 05-05-2008 02:25 PM

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How recent is recent?

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last 6 months

[FaircreditguyFL]

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smallfry wrote:
All over CB at least the last 6 months or so.

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I'm a CBer, too. I can't say that I've read every JFCU post, but from memory they have been very BK friendly. I do realize they have been bombard with apps the past couple months, but I have found them to be very timely on each of my request. I can personal attest to calling for a loan by phone, approved, and funded by the time I hung up the phone. I will say each (except for my last loan product)required financial documentation.

As for Penfed... 6 figs? Not quite. No problem obtaining products and have never been asked to provide financial documentation for $40,000 in credit.

Each of us have a different experiences with creditors. I have great LUCK with each of my credit unions - 5 in all.

Message Edited by FaircreditguyFL on 05-05-2008 06:15 PM

[smallfry]

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FaircreditguyFL wrote:

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smallfry wrote:
All over CB at least the last 6 months or so.

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I'm a CBer, too. I can't say that I've read every JFCU post, but from memory they have been very BK friendly. I do realize they have been bombard with apps the past couple months, but I have found them to be very timely on each of my request. I can personal attest to calling for a loan by phone, approved, and funded by the time I hung up the phone. I will say each (except for my last loan product)required financial documentation.

As for Penfed... 6 figs? Not quite. No problem obtaining products and have never been asked to provide financial documentation for $40,000 in credit.

Each of us have a different experiences with creditors. I have great LUCK with each of my credit unions - 5 in all.

Message Edited by FaircreditguyFL on 05-05-2008 06:15 PM

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No doubt they wanted to see docs from me because of the BK.