Rebuilding - Just App'd for local CU Help!

[Anonymous]

Just as reference, when I applied for Walmart I had 7 collections and 3 judgments on my account and my score was 619. Fast forward to 2 months later, after diligent work and perseverance I now only have 1 collection left on my report as deragtory that is also 7 years old.

Although my AAoA at the time was 14 years 8 months with oldest reporting at 19 years and 8 months. My UTI was 0. 

If you can afford an inquiry - try Walmart, I think it's the easiest to get a card with IMO.

[Anonymous]

Update -

Just called in and ran into some issues:

1) They said they absolutely cannot and will not give a credit card to anyone with anything in collections regardless of their CS. She said that especially because most of them are 5 years old it "worries" her more.

2) Even though the federal CARD act states that Financial Aid Grants and Scholarships do count as income for Credit decisions as well as household income for people over 21 she said because they are a CU they do not have to follow the CARD Act. She also said if I want to include the income of my fiancé it must be a joint app which is not at all what federal regulations state.

Good News is that they didn't HP because I opened the secured loan a month ago and they HP'd then. Damn now I just feel like crap. I thought CU's were supposed to be more understand.

[austinguy907]

No need to feel like crap.  It's just 1 CU out of thousands of them across the country.  They tend to have different UW guidelines and it's not a given that they apply across the board.  So, now you know that this particular one wants you to have a clean CR as far as the CO's go.  As to the income vs household income goes and the joint app she's mentioning I can't really say one way or another on that.  As far as maybe getting into another more lenient CU I would call up Consumers in IL and maybe Penfed and ask them their stance on the CO's to see if they're willing to take a chance and get that card you're looking for.  For more ideas on CU's check out https://www.depositaccounts.com/checking/reward-checking-accounts.html 

[Aduke1122]

Wow that's kinda messed up , what is this CU that you are talking about ? Our main CU , bf we even started our rebuilding and had horrible credit is the CU we still have our main checking and savings with dd . They are also very very conservative, I am not and will not even bother apping with them I don't think .

[Anonymous]

AffinityPlus in Minnesota I'd have gone secured if they had it because I need 3 revolvers for my rebuild.

[Aduke1122]

I've never heard of them , I think you have a very good shot with Navy Fed , they have been a key payer in our rebuild , I didn't bother with all the store credit cards I've seen too many ppl here who racked up lots of store credit and get stuck in toy credit limit hell . I just went straight for Navy Fed besides my secured cards and fingerhut which I wish I would have never opened now , it just looks bad to me . I will app for the store cards that I will actually use when the time is right . After the first of the year I plan to try to take on Discover and Amex !

[Anonymous]

I'd go for them but it's a really long process and I have a feeling I'll get denied especially with 5 collections and then being a CU.

[Aduke1122]

Wait a few mths and then go for it. I don't think you will be disappointed besides the fact that they are HP crazy

[austinguy907]

I guess we can close this thread now.

http://ficoforums.myfico.com/t5/Credit-Card-Approvals/So-Happy-First-Unsecured-Card/td-p/4734086