Local Credit Unions

Anonymous — Thu, 24 Apr 2008 03:08:27 GMT

First of all, this might sound like a broken record, but I like giving credit where it's due, and that's to haulingthescoreup.

For the past few months I've been on a hunt for new credit, to establish, build, and reap the rewards of in the future. In these few months I had been offered, what I considered, laughable credit lines in comparison to my income/debt ratio. I know income/debt ratio isn't a huge factor in FICO or credit scoring, but still. I had $200, $300, $1000, and $1400 credit lines over 4 cards. I know they were newly established, and there are timid creditors, but regardless it was a disappointing start to credit building.

After creating a thread on an entirely different subject haulingthescoreup suggested that I give local credit unions a try. With his suggestion, I printed my EQ FICO report and score from myFICO, marched down to the CU, established membership, and spoke with a loan officer. After authorizing an inquery I walked out with a Mastercard with an $8000 CL. I took this same approached to a completely different CU earlier today and walked out with a Mastercard with a $5000 CL. Not to mention their APR's are lower than my other cards.

So, a HUGE thanks again to haulingthescoreup for such a great suggestion. I'd highly suggest taking the same advice and trying your local credit unions if you're feeling discouraged with the pitiful offers these big name lenders are throwing at you. If you're in the same situation that I'm in, it might just pay off well.

Thanks,

Mike

Edit: Ah, thought I was in the Credit Card forum... Someone wanna move this?

Message Edited by MikeM on 04-23-2008 08:01 PM

Message Edited by MikeM on 04-23-2008 08:08 PM

Re: Local Credit Unions

Anonymous — Thu, 24 Apr 2008 03:06:39 GMT

Congratulations. Credit unions are a definite boon to those seeking to establish credit, and do tend to be more forgiving of bumps and dings on credit scores than many major banks.

topic Re: Local Credit Unions in General Credit Topics

Local Credit Unions

Re: Local Credit Unions