Credit Union Visa Offer... real?

[Anonymous]

Definitely go for it. Keep us updated on your approval.

[SunriseEarth]

The offer gives a specific APR and CL; it seems about as definitive as a pre-qual offer will get.   I think your odds of approval are very good at any point that you care to go for it.  

[nupey10]

I'm happy to report this offer is 100%  REAL

Saturday I couldn't wait any longer and walked in to my local branch to get the good/bad news.

Sat down with one of the bank reps and presented the card and asked if it was legit or not and if so was it a HP or SP.

He confirmed it was legit and it was indeed based on a SP.....Then he asked me if I was ready to accept it and walk out with the card today.

In my head I said HELL YEAH!!!  But out of my mouth came ..."uhhmm well, I guess as long as its just a SP"  

This instantly pushes my util down to 6%  AND I get to balance transfer the closed CC to this card without a fee.

So now I have a strategy question I need to post on if I should apply for AMEX card now and maybe join PenFed to hope for another card.  Amazon or Chase maybe.  My profile is getting stronger and looking pretty good.  

Thanks all of you for your help.  It has been great!!!

http://ficoforums.myfico.com/t5/Credit-Card-Applications/Card-Strategy-help-AMEX-PenFed-Chase/td-p/4...

[austinguy907]

Congrats BUT don't let it go to your head quite yet.  It's always tempting to go for more when we get a hint of acceptance.  Think it thrugh before doing something silly.

[nupey10]

Thanks Austin.... yes I am riding on a high which is the result of being in FICO hell for years.

I don't want to go on an App Spree, but I do want to take advantage of whats available and makes sense before I go into garden/hibernation for the year.   I still have an ultimate goal of qualifying for possibly a 60K loan sometime next year and I want to make sure I have a strong profile to do so.

[K-in-Boston]

That is a great offer!  I really wish a CU would offer me 1.5% back on a BT - I'd be willing to hand them over all of my debt haha.  If you do decide to app for anything else, it may be best to wait until the closed card shows a $0 balance.  Every profile is different, but I would assume the drastic change in util will far outweigh any loss from the new account, getting you better terms with a new lender.

[austinguy907]

60K loan sounds like you're collateralizing something against the loan.  This is ALOT easier than picking up unsecured products.  If you're in the 700's you're golden for this type of loan.  Just relax and let things flow like they should.  Use, pay, repeat.

[Aahz]

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@austinguy907 wrote:

 The 1.5% rebate on a BT though is unheard of!!!  IF you have some BT's that need to be done this would be an ideal fit besides the other perks!

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While a great offer, indeed, CUs giving rebates on BTs isn't exactly unheard of.  There are a half dozen more credit unions that offer BT rebates of up to 3% at http://www.doctorofcredit.com/credit-unions-banks-offer-cash-back-balance-transfers-no-fee/