05-08-2009 05:08 PM
I want to start working towards getting a Credit Union credit card at some point down the line and therefore would like to join a CU now so that I can start building a relationship with them.
I have about $1000 which I could put in to either a checking or savings account (or maybe do the secured loan thing I saw in another thread?) but I am not a member of any associations or paritcular employer (work for a small private company)
My most recent TU score is 690 (I don't have the others) but I do have a fair number of enquiries and only 1 years worth of history, AAoA is 9.5 months (tho I am being added as an AU to an account which should report this month and will take that to 15 months)
Can anyone recommend a CU who would work with me? Or is there an organization that I need to pay a fee to so i can become a member and join one?
All this is aiming for a CC in 6-9 month with them (in time for the move to the new house)
05-08-2009 05:15 PM
I have found Alliant CU to be a very good one. They don't offer secured cards, but do offer secured loans.
If you or your immediate family are in the military (or paid retired military) or a DoD contractor, then Navy Federal Credit Union is the best "credit" union, IMO. Their deposit rates do not compare to Alliant, but they have a more generous credit department, I think.
I have heard good things about Affinity FCU. PenFed is good, but fairly conservative. You can also check our your locals. You may find a great CU in your backyard, so to speak. Look for one that offers:
1. Secured Loans
2. Secured Cards
3. Credit Builder Loans (secured loan, but they "loan" you the money to put into savings for collateral)
05-08-2009 05:18 PM
05-08-2009 05:40 PM - edited 05-08-2009 05:41 PM
So Alliant seems to be the one to go for
What does PTA stand for? That I could join to become a member?
And TX unfortunately I don't have any relatives who were members of the forces - my old roommate was an ex marine but I don't live at the same address as him any longer
Thank you all for your help!
05-08-2009 05:56 PM
PTA: Parent Teacher Association
If you belong to your kids local PTA, you are all ready qualified for Alliant. If not, then go to www.pta.org and join online for 1 year and you are qualified. Once you qualify and join Alliant, you do not have to continue to renew your PTA membership, because once you are an Alliant member, you are always one.
05-08-2009 06:35 PM
Well I just joined the PTA so I will wait for the membership card to come through and then hopefully will be able to apply to join Alliant so that I can then app for their Secured Loan - I am thinking just a 6 month term for $500 loan and doing what txjohn suggested in another thread of just putting the money back in to the savings account and then a month into it paying off like $400 and then letting the remaining $100 be paid back over the remaining 5 months...
That would work, right?
Thanks again all. These boards are awesome (and obsession causing)
05-08-2009 07:02 PM
You don't need to wait. I joined the Nat. PTA and apped for Alliant the same day. Worked for me.
05-08-2009 07:32 PM
Well I just tried applying (just to open a savings account at this point)
and got the message
Thank you for your application to establish membership with Alliant Credit Union. An Alliant representative will review your application and contact you by mail within 3-5 business days regarding your account status.
I don't know if that is normal or not? It looks like they may not want my money
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.