Sdfcu approved now the process

[Anonymous]

I know it's in here if I really search for it but there are so many different post about it.
So I applied for sdfcu. I received my approval today and have set up the 500$ withdraw for funding the account.
I'm trying to get the loan portion done. Can someone break it down for me how I do the rest after the account is set up?
I don't think I really need the secured CC. I'm just wanting the loan to report to all 3 CRA as my CU only reports to 1.
Also I would want to pay it forward to let only a small balance report for the next X amount of years.
Lamin terms please. I'm an idiot. Lol

[Anonymous]

---

@Anonymous wrote:
I know it's in here if I really search for it but there are so many different post about it.
So I applied for sdfcu. I received my approval today and have set up the 500$ withdraw for funding the account.
I'm trying to get the loan portion done. Can someone break it down for me how I do the rest after the account is set up?
I don't think I really need the secured CC. I'm just wanting the loan to report to all 3 CRA as my CU only reports to 1.
Also I would want to pay it forward to let only a small balance report for the next X amount of years.
Lamin terms please. I'm an idiot. Lol

---

Congrats on getting in with SDFCU; they deneid my application to join. ( I was so hoping to join the SDFCU family that 7.24% interest rate is awesome!)

With that being said I've read tons of glowing reviews abotu SDFCU they are great to get in with. Did you consider applying for the non-secured credit card? Someone else can shed some light on their approval guidlines but your scores are pretty high, so maybe you could get the non-secured version?(Don't take my word for it though, ask around alot of people have spent years with SDFCU.)

I hope you find the answers you are looking for warmest Regards.

[Anonymous]

Thanks! I did the secure shared loan yesterday, just waiting on the application to go through so it can report to all 3. I'll pay it forward so it can sit there for a few years.
I dunno if they'll give me a CC. My CU is very sensitive about the number of accounts I have open. And I don't know how sensitive they are to that. Currently 40+ open 148k UTI is 3%. I was hoping that they may send me an offer in the mail? But if I could get a CC with that interest rate I'd be happy with that LOL. I thought about the secured CC but that would probably be useless as I have no secured CC and probably better off waiting on a prequalified offer for the unsecured.

[manyquestions]

---

@Anonymous wrote:
I did the secure shared loan yesterday, just waiting on the application to go through so it can report to all 3. I'll pay it forward so it can sit there for a few years.

---

Do they let you do the $500 loan for 48 months?

[Anonymous]

Idk. I filled out the secured shared loan app. It gave a 60mo option so I chose that one. It's still pending. I don't know how long I can do, if they call me and say it's a max of # of months or if they just reject it. I tried searching but there's so many posts on it. I just said the heck with it and filled it out.

[Anonymous]

I know I was approved for the shared account and it shows my balance of 500 but probably won't know the loan status until later.

[Gmood1]

SDFCU is VERY picky about inqs and new accounts. Good luck to you. I have an account with them, but do not use it. Presently there are other CU's offering better products as a whole IMO. MY EX was a 743 with no blemishes when I opened an account 3 months ago and they shot me down on a PLOC or any credit product. They count your available credit as debt even if you're not using it..kind of silly too me. A lot of the small CU's do this though.

[Anonymous]

Ok just got off the phone with them. They will only do it for 12mo and it's only 12mo increments. They like to keep all loans 1000 and less at 12mo.
Their rates are extremely better than my CU. we discussed rates on loan,cc, auto, and recreational vehicles. I must say am impressed. The shared CU is cool too. The bad is all loan applications must be done online and I really don't think that's to bad and def not a deal breaker.
I asked about the secured credit card vs unsecured as I have an open one at my CU and he said I could just move my balance over with them from that cu and close down that card.
My app was submitted after he redid the application for me. they use the same HP for the secured loan from the one they pulled when I opened the account. and also if I chose to open a CC they would also use the same HP. So 1 HP for three products isn't a bad deal.
So I'm wondering now if I should go ahead and apply for the unsecured CC? What are my chances?
Scores are current in sig
BK 9 years ago
4 CO 4 years ago
Judgement 5 years ago
State tax lien 9 years ago.
AAoA 1.6 years
INQ
EX 13 TU 2 EQ 5
148k 3% UTI
48 open accounts all in good standing paying as agreed

[Anonymous]

My yearly income is 130k

[Anonymous]

---

@Gmood1 wrote:

SDFCU is VERY picky about inqs and new accounts. Good luck to you. I have an account with them, but do not use it. Presently there are other CU's offering better products as a whole IMO. MY EX was a 743 with no blemishes when I opened an account 3 months ago and they shot me down on a PLOC or any credit product. They count your available credit as debt even if you're not using it..kind of silly too me. A lot of the small CU's do this though.

---

Good to know thanks. 

Our CU is bad so. My DW CS are all above 760. Her rates are 

14% on her CC, 6% on her car, and when we had the boat it was 8.99% those are their best rates. 

She tried to get a mortgage with them and it was 7.5. She ended up going elsewhere and getting a 4.0

we are going to buy another house in 2018 so we spoke with the loan officer about preparing for the loan, saving a big down payment etc. she pretty much told us it would be about 7.5% and we would be better off going somewhere else as that wasn't their specialty. And the fact they only report to 1 CRA. So we think another CU would be better. Problem is she makes most of her $$ in cash, so we need somewhere to deposit it. Lol