topic Re: What other type of credit should I apply for? in General Credit Topics

What other type of credit should I apply for?

RaeC — Fri, 08 Apr 2016 10:37:33 GMT

I have a Chase card, Capital one, a Navy Fed and two store cards. All have limits ranging from lowest of $2600 to $5k. None are late, always paid in full except for my Navyfed to carry a small ($30) balance.

I was thinking about getting a personal loan thru Navyfed to purchase and was going to purchase a used Jeep, since their auto loan requirements are a bit strict when it comes to purchasing used vehicles.

Is this a good idea?

Re: What other type of credit should I apply for?

RaeC — Fri, 08 Apr 2016 14:03:12 GMT

Bumping! Hoping to have a suggestion soon.

Re: What other type of credit should I apply for?

driftless — Fri, 08 Apr 2016 14:07:54 GMT

Maybe this question would receive more replies if it was in the General Credit section?

Re: What other type of credit should I apply for?

RaeC — Fri, 08 Apr 2016 14:19:56 GMT

Oh, can it be moved? I thought maybe with it being about credit cards it should be here.

Re: What other type of credit should I apply for?

DrZoidberg — Fri, 08 Apr 2016 14:30:49 GMT

I don't know what time zone you're in but mine shows this post was at 3:30 am.......and then bumped 4 hours later. Doubt anyone was awake at the bump. Just relax. And to answer, you're the only one who knows what cards you should have or get. It's your credit........not ours.

Re: What other type of credit should I apply for?

Anonymous — Fri, 08 Apr 2016 14:44:06 GMT

I'm not sure about Navy Fed, but, from my experience with my local CUs, there are probably better alternatives. There are service companies out there that find you the best offers available to you with a single HP. Blue Harbor comes to mind because they are peddled by Credit Karma

Re: What other type of credit should I apply for?

ralvarez2678 — Fri, 08 Apr 2016 14:55:57 GMT

Or Capital One auto finance pre approval as well.

Re: What other type of credit should I apply for?

Anonymous — Fri, 08 Apr 2016 14:58:06 GMT

i wouldn't use a PL to buy a vehicle; especially not through NFCU. their rates are quite bad. find a local CU. most are decently flexible but i am assuming the jeep is slightly older with 150k+ miles?

Re: What other type of credit should I apply for?

XxRaVeNxX1 — Fri, 08 Apr 2016 14:58:55 GMT

Navy Federal isn't a local credit Union...it's one of the largest in the world....You wont get better rates than them

Re: What other type of credit should I apply for?

Anonymous — Fri, 08 Apr 2016 15:00:33 GMT

yes there are. tons of credit unions have better rates..

Re: What other type of credit should I apply for?

Anonymous — Fri, 08 Apr 2016 15:07:19 GMT

Kinecta CU in CA gave me the best rate on my truck. Navy Fed wasn't even in the top 10 and there was a wide margin.

@XxRaVeNxX1 wrote:
Navy Federal isn't a local credit Union...it's one of the largest in the world....You wont get better rates than them

Re: What other type of credit should I apply for?

DrZoidberg — Fri, 08 Apr 2016 15:15:22 GMT

@XxRaVeNxX1 wrote:
Navy Federal isn't a local credit Union...it's one of the largest in the world....You wont get better rates than them

That is very much false. Hell, right now DCU has lower auto and home rates (certain products).

Re: What other type of credit should I apply for?

Anonymous — Fri, 08 Apr 2016 15:33:41 GMT

Just for reference, my local credit union is growing at break neck speed. They are all over my state now, and started from a single location in my hometown 30 or 40 years ago. I'm also a member of a work based credit union that has 3 locations total, in essence, very small.

I talked to the large CU over a year ago about a mortgage on a new home I was looking to purchase. The best they could offer me was 5.5% on a 30 year fixed mortgage. 5.5%!!!!!! To me, that's higher than giraffe ears in today's inflated housing market.

The "small" CU offered me 3.75% for the same mortgage term.

My point is, just because a CU is large, doesn't mean they will give you the best rates and terms.

Re: What other type of credit should I apply for?

RaeC — Fri, 08 Apr 2016 17:31:40 GMT

Thanks for all the input. I didn't want to use an auto loan (got pre-qualified thru Cap1 for a larger one) because of the stricter guidelines. We wanted an older jeep to toy around in and found one relatively cheap, hence a smaller personal loan for like $5k, is what I was thinking. And yes the Jeep had over 150k miles.

Re: What other type of credit should I apply for?

Anonymous — Fri, 08 Apr 2016 17:49:54 GMT

yeah over 150k MOST places won't touch it unfortunately. if you know your score try searching for places that offer lower loan rates for the term your desire.