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Frequent Contributor
pineappledaydreams
Posts: 257
Registered: ‎04-03-2012

psecu visa credit card holders

When did you request a cli? How was the process?
How much was your limit and what became your new limit.

6 month cc wait rule still apply here or should you apply as soon as your scores improve? My income went from 1400 to 2400 to 3200 monthly after taxes.
Scored went up from 645 to what they are now.
Is it a soft pull?


On my phone apologies for the errors.



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Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011

Re: psecu visa credit card holders

Got the card in July, $9K limit. Apped 4 months later for their combo LOC and a $3K CLI. Approved for $12K Combo. All CLIs are HPs.



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Frequent Contributor
pineappledaydreams
Posts: 257
Registered: ‎04-03-2012

Re: psecu visa credit card holders

Thanks ls. So I have to wait till the house closes anyway. :smileytongue: loc?
On my phone apologies for the errors.



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Frequent Contributor
pineappledaydreams
Posts: 257
Registered: ‎04-03-2012

Re: psecu visa credit card holders

What does that stand for?
On my phone apologies for the errors.



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Super Contributor
webhopper
Posts: 7,230
Registered: ‎09-16-2011

Re: psecu visa credit card holders

LOC stands for Line of Credit. 

 

It is like a credit card, but you have to write a check to access the funds. No swiping :smileyvery-happy:


Starting Score: 08/29/2011 TU 671 EQ 674
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Frequent Contributor
pineappledaydreams
Posts: 257
Registered: ‎04-03-2012

Re: psecu visa credit card holders

[ Edited ]

Oh. I didn't apply for one. Is it a good idea to do? Are the interest rates good? Could the funds be used on anything? What are the terms? Loan length and monthly payments?

 

 

On my phone apologies for the errors.



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Super Contributor
webhopper
Posts: 7,230
Registered: ‎09-16-2011

Re: psecu visa credit card holders

The funds can be used on anything.  The payment is usually 2% of the balance.  Its not a loan, so there is no term.  Its a revolving open account.

 

It works like a credit card in that once its paid off, then the credit is available again.

 

You don't owe anything on it until you actually use it.  Unlike a Credit Card, you dont have a to show usage on it, it can sit there with no usage and you don't have to worry about it getting closed or decreased for no activity.


Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
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Frequent Contributor
pineappledaydreams
Posts: 257
Registered: ‎04-03-2012

Re: psecu visa credit card holders

That sounds awesome. Is it difficult to get a cli if im requesting the loc?
On my phone apologies for the errors.



Starting Score: 501 EX FAKO
Current Score: 745TU Fico
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Current Score: 742 fico


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Frequent Contributor
pineappledaydreams
Posts: 257
Registered: ‎04-03-2012

Re: psecu visa credit card holders

Or is the combo a better route?
On my phone apologies for the errors.



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Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011

Re: psecu visa credit card holders


pineappledaydreams wrote:
Or is the combo a better route?

The Combo is definitely the better route. You can get a CLI and the Combo LOC on 1 HP.

 

Also one of the SWEET things about the Combo is it reports as two different TL's on your CR.

 

For example: I have a 12K Combo Visa/LOC. I can use both products but both share a 12K limit. The way it reports though the Visa is 12K and the LOC is 12K. So essentially you have 24K in total util when it is actually 12K.

 

:smileyhappy:




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