topic Re: Coastal Federal Credit Union in Credit Cards

Coastal Federal Credit Union

GoTarHeels — Sun, 03 May 2020 23:24:29 GMT

Hello everyone. I've been lurking for months now and I cannot tell you how much I have learned from reading these forums! I stop by and read on a daily basis... don't want to miss any of these financial gems!

I searched the forums and saw a few threads about CFCU, but I didn't really see a definitive answer on this question, so I thought I'd ask again.

I recently became a CFCU member. I'm in rebuild credit mode. Before I found you guys I definitely made some poor choices in which Unsecured cards I took on (Milestone, Credit One as examples). Long story short, I want to get a card that can grow, but especially one that doesn't have crazy APRs. I'm cool with building and earning my bank's trust.

CFCU has a secured card. Does anyone know who Coastal pulls for credit card apps? My scores right now are:

Exp:610

Eq: 667

TU: 673

I appreciate any help! Thanks everyone.

Re: Coastal Federal Credit Union

K-in-Boston — Sun, 03 May 2020 23:20:40 GMT

Welcome to the forums! All of the links I can find where a pull is mentioned from them reference Equifax, but most of those are quite dated.

Re: Coastal Federal Credit Union

GoTarHeels — Sun, 03 May 2020 23:22:49 GMT

Hello, thanks for the response. Yeah, I saw those posts too. Maybe it's still accurate. Appreciate you taking the time to look.

Re: Coastal Federal Credit Union

K-in-Boston — Sun, 03 May 2020 23:28:10 GMT

Here is a very recent post where @KJinNC mentions them being an EQ puller, and I know they got a Coastal card within the past year. Maybe they can confirm?

Re: Coastal Federal Credit Union

KJinNC — Mon, 04 May 2020 01:06:33 GMT

Hello to another Coastal member! It's a great credit union.

They only ever pull Equifax, to my knowledge. I am pretty sure they pull Equifax 9, as an fyi.

You're right on the edge of where I'd suggest you apply for a different card, like the Rate Advantage card, but the secured card would be the safer bet. With scores in the 600s, you should be able to get any secured card, unless you have a particular problem with a lender eg if you burned them in bankruptcy.

I would also suggest you look at these: Discover secured, TD Bank secured. Both can unsecure after seven statements and both give cash back rewards. Good luck!

Re: Coastal Federal Credit Union

GoTarHeels — Mon, 04 May 2020 01:25:49 GMT

Appreciate it @KJinNC!

Re: Coastal Federal Credit Union

Guyatthebeach — Mon, 04 May 2020 01:57:40 GMT

I banked there when I lived in NC. Coastal is a conversative CU, but they will work with you. If I remember correctly, they use Equifax for all loan products.

If you want to go the CU route to rebuild your credit, take a look at Navy Federal and SECU.

Guyatthebeach

Re: Coastal Federal Credit Union

GoTarHeels — Mon, 04 May 2020 02:06:51 GMT

I wish I had an in with NFCU. I was looking at PenFed and DCU for a while, but I don't want the HPs just for membership.

I am an SECU member as well, so I will take a look at them too.

Re: Coastal Federal Credit Union

AllZero — Mon, 04 May 2020 02:12:51 GMT

@GoTarHeels wrote:
I wish I had an in with NFCU. I was looking at PenFed and DCU for a while, but I don't want the HPs just for membership.

I am an SECU member as well, so I will take a look at them too.

@GoTarHeels Data points are showing SP. However, always expect a HP so you won't be disappointed

PenFed Membership: No HP - Data Point (DP)

Re: Coastal Federal Credit Union

Anonymous — Mon, 04 May 2020 02:15:51 GMT

@GoTarHeels wrote:
I wish I had an in with NFCU. I was looking at PenFed and DCU for a while, but I don't want the HPs just for membership.

I am an SECU member as well, so I will take a look at them too.

DCU is a SP for membership and PenFed has mostly been SP online lately.

Re: Coastal Federal Credit Union

GoTarHeels — Mon, 04 May 2020 02:18:46 GMT

Appreciate that info @AllZero and @Anonymous. I was thinking they were hard pulls. More food for thought. I have a lot more to consider than I thought.

Re: Coastal Federal Credit Union

AllZero — Mon, 04 May 2020 02:25:49 GMT

@Anonymous wrote:
@GoTarHeels wrote:
I wish I had an in with NFCU. I was looking at PenFed and DCU for a while, but I don't want the HPs just for membership.

I am an SECU member as well, so I will take a look at them too.
DCU is a SP for membership and PenFed has mostly been SP online lately.

+1 to DCU. 6.17% APY up to $1,000 on savings account with free EQ5 monthly score.

Re: Coastal Federal Credit Union

GoTarHeels — Mon, 04 May 2020 02:31:11 GMT

That 6.17% is why I was really interested in DCU. That is insane.

Re: Coastal Federal Credit Union

KJinNC — Mon, 04 May 2020 02:32:35 GMT

As a caveat, I have been a Coastal member since 1987, so that may play into the results I get with them. That said, last June, two months into my rebuild, with some secured cards and an unsecured Amazon Store Card as my only accounts in many years, I applied at Coastal for an auto loan. They offered me a 3.74% rate, which I thought was great for my situation. When I got the approval, I also asked if I could get a credit card. They approved me for the card you see in my signature, a Visa Signature. I thought, why not, and asked if I could also get a small personal loan for credit-building purposes. They agreed to that at 7.75%. And as a kicker, when I got my first car payment bill, they had dropped the interest rate to 3.54% for no apparent reason. So, in my perception, I would not call them conservative. But again, maybe I get bonus points for the 1987 thing.

PenFed has denied me twice for cards, so in my mind, they are much more conservative. I am not a DCU member and have no knowledge about them. If you can find a path to NFCU membership, I would definitely look hard at that. There are more ways in than may be immediately obvious. If one of your spouse's grandparents was in the National Guard at some point, for example, that would qualify your spouse, which would then qualify you.

If I could only be a member of one bank or CU, it would be a tough decision between Coastal and Navy Federal. JMO, good luck!

Re: Coastal Federal Credit Union

GoTarHeels — Mon, 04 May 2020 02:39:00 GMT

@KJinNC , I remember seeing your post about the car loan when I was looking for CFCU info. My fiance has been a member forever and he has nothing but good things to say about them. Can't beat their rates and the way they treat their members.

Re: Coastal Federal Credit Union

Jannelo — Mon, 04 May 2020 03:34:59 GMT

@KJinNC wrote:
As a caveat, I have been a Coastal member since 1987, so that may play into the results I get with them. That said, last June, two months into my rebuild, with some secured cards and an unsecured Amazon Store Card as my only accounts in many years, I applied at Coastal for an auto loan. They offered me a 3.74% rate, which I thought was great for my situation. When I got the approval, I also asked if I could get a credit card. They approved me for the card you see in my signature, a Visa Signature. I thought, why not, and asked if I could also get a small personal loan for credit-building purposes. They agreed to that at 7.75%. And as a kicker, when I got my first car payment bill, they had dropped the interest rate to 3.54% for no apparent reason. So, in my perception, I would not call them conservative. But again, maybe I get bonus points for the 1987 thing.

PenFed has denied me twice for cards, so in my mind, they are much more conservative. I am not a DCU member and have no knowledge about them. If you can find a path to NFCU membership, I would definitely look hard at that. There are more ways in than may be immediately obvious. If one of your spouse's grandparents was in the National Guard at some point, for example, that would qualify your spouse, which would then qualify you.

If I could only be a member of one bank or CU, it would be a tough decision between Coastal and Navy Federal. JMO, good luck!

That is impressive.