topic Re: Easiest Credit Union Approval...? in Credit Cards

Easiest Credit Union Approval...?

Anonymous — Tue, 11 Aug 2020 19:45:28 GMT

I want a credit card from a credit union.

Which is the easiest to approve weak or low credit?

Thanks!

Kaci

Re: Easiest Credit Union Approval...?

addicted_to_credit — Tue, 11 Aug 2020 19:50:01 GMT

@Anonymous wrote:
I want a credit card from a credit union.

Which is the easiest to approve weak or low credit?

Thanks!

Kaci

Need more info to make more informative suggestions. Scores, current accounts, age of oldest and youngest accounts. Any baddies?

Re: Easiest Credit Union Approval...?

SecretAzure — Tue, 11 Aug 2020 19:50:18 GMT

Nook Inc.

[Disregard the joke, I'm also interested in learning this info]

Re: Easiest Credit Union Approval...?

Anonymous — Tue, 11 Aug 2020 19:54:40 GMT

1 good Installment; 4 months old and 1 good revolving; 5 months old.

2 Medical Collections; 2 and 3 yrs old.

Installment is a balance of $300, against beginning balance of $450.

Revolving is a $40 balance against a $10,000 limit (it's a secured card).

Scores are about 630.

Income is $75,000 annually.

Re: Easiest Credit Union Approval...?

notmyrealname23 — Tue, 11 Aug 2020 19:59:03 GMT

@Anonymous wrote:
I want a credit card from a credit union.

Which is the easiest to approve weak or low credit?

Thanks!

Kaci

Find a CU that offers secured cards. Lots of them out there.

https://www.firsttechfed.com/credit-cards/credit-cards/platinum-secured
https://www.navyfederal.org/loans-cards/credit-cards/nrewards-secured/
https://www.seattlecu.com/secured-credit-card

(Seriously, use a search engine to search "credit union secured credit card".)

That would be the easiest way to get a credit union credit card with poor credit.

Re: Easiest Credit Union Approval...?

addicted_to_credit — Tue, 11 Aug 2020 20:13:53 GMT

@Anonymous wrote:
1 good Installment; 4 months old and 1 good revolving; 5 months old.

2 Medical Collections; 2 and 3 yrs old.

Installment is a balance of $300, against beginning balance of $450.

Revolving is a $40 balance against a $10,000 limit (it's a secured card).

Scores are about 630.

Income is $75,000 annually.

Is it possible to pay the collections off? (If so do a pay for delete) I had a 30 day late that aged off at 7 years and I saw a 40 ish point jump on that CB, so you should definitely see a pretty decent jump in scores. Couple that with a decent income and utilization your chances of getting a better SL and interest rate would go up. If not there is a thread I've seen floating around here (recently) that had a decent list of lenders (some were credit unions) that had a tool to check if you're pre approved / qualified or not. Check that out, just keep in mind that you can still be denied even though you're pre qualified / approved but it should help as far as burning HP's

Re: Easiest Credit Union Approval...?

Anonymous — Tue, 11 Aug 2020 21:32:33 GMT

@Anonymous Welcome to the forums. In terms of secured cards, I generally suggest Discover and Navy FCU (If you have a way in). There are plenty of credit unions that offer secured cards but not all of them graduate.

If the medical collections are your only derogatory accounts, you will see a huge boost if they are removed. And you might be able to get access to better credit products.

I have a few questions for you:

- Is there a reason it has to be a credit union?

- Does your secured card graduate?

- Are the medical collections your only derogatory accounts?

- Can you list the collection agency names?

Re: Easiest Credit Union Approval...?

Girlzilla88 — Tue, 11 Aug 2020 21:56:00 GMT

@Anonymous I would wait for your 4 months and 5 months to both hit the 6 month mark, check local CU's as well. Some are really great. Secured card would be a good start, and yes I do agree if you can get those CO off beforehand that would help once they were reported no longer there since that should give you a good boost and open your door to a few more places as one other person mentioned. Also paying down the Installment Balance to under 30% will help too but not as big of affect just will help with CU's looking at your overall profile since it is so short/new.

Re: Easiest Credit Union Approval...?

Anonymous — Tue, 11 Aug 2020 22:54:21 GMT

@Anonymous

Sure.

The CA for both is ARS and I live in Oklahoma. I can't figure out which ARS it is.

I've tried googling HIPPA Removal and such, but I honestly don't understand the process.

I understand it can't be spoken of on board, but can someone Private Message me about HOW EXACTLY to remove them?

Um... They are $1,700 and $700. I'm not sure I have $2,500 burning holes in my pocket. Lol

I'm saving up to purchase my first home. I just spent $10,000 opening my Secured Card...

Well, I wanted a Credit Union because I hear they are much better thank banks!!!

You don't think anyone would offer me credit at a 630?

Re: Easiest Credit Union Approval...?

Girlzilla88 — Tue, 11 Aug 2020 23:35:02 GMT

Side note-Those collections will stay for 7-10 years from when you got them so yes if you can get them off, do so it will also play into your Home Purchase as well (hopefully more than 3 months from now?!) There may be some that will offer a Secured card some that may offer a small CL card with that, but you will have higher/better chances and better history/average age if you can let your details hit that 6 month before applying (applying to much to fast can look/hurt score worse) and again hurt your chances on a Mortgage.

Re: Easiest Credit Union Approval...?

Anonymous — Wed, 12 Aug 2020 00:00:58 GMT

Why does 6 months matter so much? I was told 12 months is something special too?

Re: Easiest Credit Union Approval...?

Girlzilla88 — Wed, 12 Aug 2020 00:04:19 GMT

6 months is sort of like a Minimum milestone, if you app to shortly (for a lot of places) it will grant you Auto NOPES, it also messes with your Age of your accounts which you want your Average to be good as well. Look into Age of Oldest Account, Average Age of Account, Age of Newest Account etc....it all plays into your score (of course Use/UTL is more important scoring wise, and CO are more important as a NO NO ((damage to your score)) so you want to be most mindful of those) and then at the bottom Inquiries are there as well and some cards/banks can be inquiry sensitive or new account sensitive.

Re: Easiest Credit Union Approval...?

Anonymous — Wed, 12 Aug 2020 00:07:29 GMT

@Anonymous I did a brief search, and found one record of ARS deleting their collection account after payment. Assuming this is the same company, it might be the best way to go.

Your collections are a few years old meaning you can likely settle for less than the amount owed. I would check the SOL within Oklahoma and reach out to ARS with a pay for delete request by mail.

There are pfd templates on here that you can find to use.

Keep in mind your lender may require that you repay any outstanding debts (some may look past this, but try to keep this in mind)

Unfortunately with a 630 score (fair credit), you are only going to attract sub-prime lenders think Credit One, Mission Lane, etc and secured cards.

Although you can likely get approved for a Capital One Platinum or Quicksilver1.

Keep in mind, it might be a good idea to check your local credit union since its easier in case you have to go to a branch for some reason.

Here are the credit unions I would suggest:

1. Navy FCU (requires military background from either yourself, immediate family or grandparents).

2. SDFCU

3. DCU (the card does not graduate so careful)

Question

- Who is your secured card with?

According to gdale6 you can try these steps:

1. Call the OC and see if insurance can be billed, if not then
2. see if you qualify for Charity Care, if not then
3. ask that they recall the collection in exchange for full payment
4. Send the reporting CA a PFD offer
5. Google the HIPAA Process and contact its creator for help

Re: Easiest Credit Union Approval...?

Girlzilla88 — Wed, 12 Aug 2020 00:07:24 GMT

Another note is to stay away from Lates (30 days, 60 days etc) also CFA, Bankruptcy's, Repos, ((Things that stay on your information long periods of time that negatively affect it))

Re: Easiest Credit Union Approval...?

coldfusion — Wed, 12 Aug 2020 01:22:51 GMT

@Anonymous wrote:
@Anonymous

I understand it can't be spoken of on board, but can someone Private Message me about HOW EXACTLY to remove them?

Topics that cannot be discussed on the board also cannot be discussed via private message.

Thank you for your understanding and your cooperation.

Re: Easiest Credit Union Approval...?

Anonymous — Wed, 12 Aug 2020 22:16:56 GMT

@Anonymous What is SDFCU?

Re: Easiest Credit Union Approval...?

Anonymous — Wed, 12 Aug 2020 22:21:15 GMT

@Girlzilla88 Not to be nosey, but I looked at your home loan; what is Y2K Home AND PennyMac? Please explain...

Re: Easiest Credit Union Approval...?

Anonymous — Wed, 12 Aug 2020 22:32:42 GMT

@Anonymous SDFCU (State Department Federal Credit Union).

Link below:

https://www.sdfcu.org/savings-secured-credit-card

Good luck!

Re: Easiest Credit Union Approval...?

Girlzilla88 — Thu, 13 Aug 2020 17:04:27 GMT

@Anonymous LMAO that's not nosey at all I wouldn't put it there if I didn't want people to notice or use it for DP's (it's also a side note to myself since I have a pretty bad memory LMAO) but the home I bought was the year 2000, Y2k Year 2K LOL and PennyMac is the Lender that took over my Mortgage after the dust settled so it is through them! Which I love them!!! I have no complaints on them at all and I may have just been super lucky but I have heard horror stories of Mortgage Lenders giving a hard time and these people are so nice and understanding. The site is also easy to go through which I love too