Which Credit Unions are the most generous at granting credit cards and loans?

[haulingthescoreup]

Let's turn down the heat on this one a bit.

Remember that nuances don't always travel very well when posting online. And sometimes emotions travel far too well.

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connect4, I would definitely recommend PenFed for you with that credit profile, especially the one inq on EQ, which they pull. In most cases, they give credit lines in that range you're looking for. (It's definitely tougher for the self-employed.) They have recently started restricting new members' ability to move funds around or pay online, but I don't think that the CL is an issue. I will admit that my brain is pretty worn out from all the updates about PenFed and new members, though, and I could be wrong on this.

If you don't fit the standard categories for qualification, you can join through National Military Families Association, a support group for military families, or by volunteering or working for the American Red Cross. The links to do so are on the PenFed site:

PenFed - How to Join options 6 and 7

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How to quote: go to the post that you want to quote. Click "reply" at the upper left. When the text box opens up, you should see several buttons at the top of the box --Graphical Editor or Edit as HTML, Check Spelling, Preview, and Quote. (The selections might vary according to your browser and your operating system.) Click "Quote", and the entire message will come up. You can just start typing after that, or you can delete part of the quote, or highlight a section in red, etc.

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[Anonymous]

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@haulingthescoreup wrote:
Let's turn down the heat on this one a bit.

Remember that nuances don't always travel very well when posting online. And sometimes emotions travel far too well.

* * * * * * * * * * * * * *

connect4, I would definitely recommend PenFed for you with that credit profile, especially the one inq on EQ, which they pull. In most cases, they give credit lines in that range you're looking for. (It's definitely tougher for the self-employed.) They have recently started restricting new members' ability to move funds around or pay online, but I don't think that the CL is an issue. I will admit that my brain is pretty worn out from all the updates about PenFed and new members, though, and I could be wrong on this.

If you don't fit the standard categories for qualification, you can join through National Military Families Association, a support group for military families, or by volunteering or working for the American Red Cross. The links to do so are on the PenFed site:

PenFed - How to Join options 6 and 7

* * * * * * * * * * * * * *

How to quote: go to the post that you want to quote. Click "reply" at the upper left. When the text box opens up, you should see several buttons at the top of the box --Graphical Editor or Edit as HTML, Check Spelling, Preview, and Quote. (The selections might vary according to your browser and your operating system.) Click "Quote", and the entire message will come up. You can just start typing after that, or you can delete part of the quote, or highlight a section in red, etc.

It's always a good idea to then hit "Preview" before hitting "Post", in case you somehow wind up with acres of white space or something. This sometimes happens to me when I quote someone who was in IE on a Windows machine and I'm on FF on a Windows or Mac laptop.

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Ok thanks for that  haulingthescoreup,

And yes I agree that PenFed is a top candidate. I will probably apply for PenFed first, since its more inquiry sensitive...

And in regards to avoid being stuck in the "Chex System", I believe you want to restrict to opening a maximum of 3 banks that pull Chex. (Within the 90 day period)

Do you know that the CU's we've been talking about pulls Chex? And if so, which ones?

(PenFed, Alliant, Patelco, PSECU, CCCU etc)

Also my parents are part of NuVision + Financial Partners CU's and they've had great history with both CU's for many years. If I join through them, will I get a "jump start history benefit" with those credit unions? Sort of like authorized user credit card history...?

I am also looking into Orange County CU + SchoolsFirst Federal CU, if anyone can recommend any of these these in relations to the subject, please let me know.

[Anonymous]

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@Anonymous wrote:

I'm looking for Credit Unions that grant generous amount for loans, high credit limits credit cards, easiest to qualify for VS stricter criteria.

Ex: Grants generous amount for loans, high credit limits credit cards, lenient criteria VS strict/conservative.

I also just started a business this year and so I can only provide pay stubs (no 1040's / W2's yet), are there Credit Unions that will work with me and still grant me credit cards + loans with pay stubs / no docs? I have a great credit score and my history shows I can pay on time etc.
 

I am hearing a lot of good things with Alliant CU, Navy Federal CU, USAA CU (Although I am not sure how generous NAVY and USAA are for non-military members..)

Any others out there?  

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I've been studying very thoroughly on the subject of Credit Unions since posting this thread. And it seems they are generally more lenient and generous in terms of granting credit than the Big Banks.

Does anyone know if this same rule applies to business credit? Ex: Business credit cards...

[manyquestions]

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@Anonymous wrote:

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@Anonymous wrote:

I'm looking for Credit Unions that grant generous amount for loans, high credit limits credit cards, easiest to qualify for VS stricter criteria.

Ex: Grants generous amount for loans, high credit limits credit cards, lenient criteria VS strict/conservative.

I also just started a business this year and so I can only provide pay stubs (no 1040's / W2's yet), are there Credit Unions that will work with me and still grant me credit cards + loans with pay stubs / no docs? I have a great credit score and my history shows I can pay on time etc.
 

I am hearing a lot of good things with Alliant CU, Navy Federal CU, USAA CU (Although I am not sure how generous NAVY and USAA are for non-military members..)

Any others out there?  

---

I've been studying very thoroughly on the subject of Credit Unions since posting this thread. And it seems they are generally more lenient and generous in terms of granting credit than the Big Banks.

Does anyone know if this same rule applies to business credit? Ex: Business credit cards...

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I would say no.  From my experience the big banks tend to be more generous with the business credit cards.  Bank Atlantic would be the first I would try.  AMEX gives good limits on business cards.  Citi Business has been OK in the past.  Usually the ones I have mentioned give decent limits without any docs.  My experiance with credit unions is that they will require business financial statements and then give lower limits unless you have a very profitable business that has been around for a while..YMMV.

[creditwherecreditisdue]

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@manyquestions wrote:

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@Anonymous wrote:

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@Anonymous wrote:

I'm looking for Credit Unions that grant generous amount for loans, high credit limits credit cards, easiest to qualify for VS stricter criteria.

Ex: Grants generous amount for loans, high credit limits credit cards, lenient criteria VS strict/conservative.

I also just started a business this year and so I can only provide pay stubs (no 1040's / W2's yet), are there Credit Unions that will work with me and still grant me credit cards + loans with pay stubs / no docs? I have a great credit score and my history shows I can pay on time etc.
 

I am hearing a lot of good things with Alliant CU, Navy Federal CU, USAA CU (Although I am not sure how generous NAVY and USAA are for non-military members..)

Any others out there?  

---

I've been studying very thoroughly on the subject of Credit Unions since posting this thread. And it seems they are generally more lenient and generous in terms of granting credit than the Big Banks.

Does anyone know if this same rule applies to business credit? Ex: Business credit cards...

---

I would say no.  From my experience the big banks tend to be more generous with the business credit cards.  Bank Atlantic would be the first I would try.  AMEX gives good limits on business cards.  Citi Business has been OK in the past.  Usually the ones I have mentioned give decent limits without any docs.  My experiance with credit unions is that they will require business financial statements and then give lower limits unless you have a very profitable business that has been around for a while..YMMV.

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+1

I will add that many CU's won't even engage in issuing business credit. You would have to chose your spot very carefully.

[Anonymous]

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@creditwherecreditisdue wrote:

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@manyquestions wrote:

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@Anonymous wrote:

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@Anonymous wrote:

I'm looking for Credit Unions that grant generous amount for loans, high credit limits credit cards, easiest to qualify for VS stricter criteria.

Ex: Grants generous amount for loans, high credit limits credit cards, lenient criteria VS strict/conservative.

I also just started a business this year and so I can only provide pay stubs (no 1040's / W2's yet), are there Credit Unions that will work with me and still grant me credit cards + loans with pay stubs / no docs? I have a great credit score and my history shows I can pay on time etc.
 

I am hearing a lot of good things with Alliant CU, Navy Federal CU, USAA CU (Although I am not sure how generous NAVY and USAA are for non-military members..)

Any others out there?  

---

I've been studying very thoroughly on the subject of Credit Unions since posting this thread. And it seems they are generally more lenient and generous in terms of granting credit than the Big Banks.

Does anyone know if this same rule applies to business credit? Ex: Business credit cards...

---

I would say no.  From my experience the big banks tend to be more generous with the business credit cards.  Bank Atlantic would be the first I would try.  AMEX gives good limits on business cards.  Citi Business has been OK in the past.  Usually the ones I have mentioned give decent limits without any docs.  My experiance with credit unions is that they will require business financial statements and then give lower limits unless you have a very profitable business that has been around for a while..YMMV.

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+1

I will add that many CU's won't even engage in issuing business credit. You would have to chose your spot very carefully.

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k Thanks for sharing that with me! I didn't know it would be harder so you might have saved me some declines...

I've compiled a list of Personal Friendly CU's that offer busines credit products, does anyone know any of these / other CU's to be "business friendly?"

Financial Partners

Affinity FCU

Digital FCU

Coastal FCU

NASA  FCU

Message Edited by connect4 on 10-29-2009 07:00 PM