Coastal Federal Credit Union - OMG (thanks, Mom!)

[KJinNC]

I began a credit rebuild in March and April. As of March, I had an unpaid charge-off for $92 and nothing else on my credit reports newer than 2012. And the old stuff only appeared on Equifax. I paid the charge-off and then got it removed via GWL saturation method. I opened a bunch of new accounts, the first on April 2. I say this for context: my credit situation is (in my mind) not good. I have no derogatories at all, but I have a ton of inquiries and new accounts, most of which are secured cards or other easy-to-get stuff like that. See my signature for the list.

BUT, my mom did me a huge favor back in April 1987: she took me to Coastal Federal Credit Union and opened a joint account with me. When I was an adult, we took her off the account. I didn't use it for most of that time, but I maintained it in case it ever came in handy. And boy has it! Thanks, Mom!

On Saturday, I got a $30k car loan at 3.74% from Coastal! UPDATE: The car loan showed up on my account listings on the Coastal web site, and it is 3.54%, not 3.74%! And although I wasn't really planning to get another credit card (have plenty), since they already pulled my credit, I asked them about a card.

Today, my new best friend at Coastal told me I have been approved for the Signature Visa, $5k limit, 13.5% APR!!

I know that's basically the minimum CL for a signature Visa and the points rewards are nothing special, but I am not even preapproved for a Quicksilver One or basically any "normal" card when I look elsewhere. It took me three tries to get a Discover secured card last month!

Sorry for the double exclamation marks, I am a 48-year-old man, it's not like me, but I can't believe it! Is this the real life, or is this just fantasy?!

[Remedios]

Congrats on your approval! 

[Anonymous]

Congrats on your card approval and car loan!!

[Anonymous]

Excellent results - congrats! I hear you on mom and the FCU account. I’m 44 and have had an account with my CU since mom took me there in 9th grade. They’ve been my primary institution my whole life. One mortgage, 5 car loans, and a card in the past. I know everyone on a first name basis. That long term relationship has paid off many times. I have set my kids up with accounts there as well, and if they want to withdraw or deposit, I have them go inside to the tellers - never too early to cultivate those same relationships.

Congrats on your success!

[bizarrocreditworld]

Congratulations on all of your new accounts! Great job on maintaining the relationship with Coastal.

[M_Smart007]

"Sorry for the double exclamation marks, I am a 48-year-old man, it's not like me, but I can't believe it! Is this the real life, or is this just fantasy?!"

Congrats on you're Approval!!!

[Marz2002]

YOU...

From 1 Rebuilder to another Rebuilder, CONGRATS @KJinNC on your Coastal FCU aoto loan Approval and your Visa Signature card Approval/SL!!!

[AverageJoesCredit]

Way to go! Great story and glad your Mom set you up big time for the future. I moved in with my Dad back in good ol '87, so heres to a vintage year

[Anonymous]

Congratulations on the approval!!!

[TheFIGuy]

Congrats!