Best credit union credit cards for rebuilding credit?

[RealEstateGuy89]

---

@MountainHiker wrote:

---

@Bmom wrote:

If you already have 4 credit cards, why get more now? You only need 3 for optimal scoring and rebuilding. Age those and wait for your charge offs to drop, or pay them off. After that your scores should be in the 700s. Your reports will be clean with nothing but a good payment history,  opening you up to whatever you want. 

---

Thanks for your input.

I agree that the cards in my possession are excellent. I was simply trying to add higher spending limit cards from a different lender. 

it's never a great idea to have all major credit cards with one lender. Two of those 4 cards are retail credit cards. Two are Cap1. I was thinking maybe a credit union would be less risk adverse. But I could be wrong. 

---

I totally agree with you. Having a more diverse set of credit cards might be helpful someday. Also higher credit limits will usually benefit you when being assigned credit limits with future credit cards. Navy Federal is well known for high limit credit cards. There is a Navy Federal thread here in the MyFICO Forums that will tell you about everything "Navy Federal" that you would want to know and it is a very beneficial read.  Even if you get an initial low limit, it doesn't take long for it to grow into a high limit card.

I've also had great experiences with Alliant and BECU. I haven't posted it yet, but I just opened a membership and credit card with BECU a couple days ago, and they gave me a SL of $21,500 to start. 12 months 0% financing. Best of luck with this endeavor.

[SUPERSQUID]

---

@MountainHiker wrote:

---

@MileHigh96 wrote:

---

@mfinsmi1 wrote:

if ur dti and utilizations is low - navy federal / affinity fcu / and greenstate (my top 3 credit unions i used during my rebuild)

---

Great list, I would also add PenFed to that list as well.  They approved me for a card just 4 months after my BK7 was discharged.

---

Sounds like Penfed is not BK7 adverse. But they probably don't want to see any unpaid charged off accounts. I do know Penfed does use FICO9 which is advantageous for credit files with paid off or satisfied through BK, derogatory accounts but still showing on that credit report. 

I know Capital One can't be the only lender who will show love when you have one or two current existing derogatory marks. I could be wrong. 

---

Penfed approved me 1 plus years after bk7 dc for the power cash rewards 7500 sl, dont apply for the pathfinder as your first card, ive seen a fair amount of denials for the pathfinder as first app.

Navy fed is great but i joined them 2 years post bk7 dc.

ymmv

[Gollum]

---

@MountainHiker wrote:

Hi Everyone.

In the last 24 hours it has been suggested to me that I consider using Credit Union credit cards in reestablishing my credit. I thought maybe the good people on this website could help me with a few ideas. My credit file has two unpaid 5 year old baddies remaining. I have excellent student loans and four excellent revolving accounts. My credit score is around a 670.

Which Credit Unions do you think would approve someone with my credit file? 

Thank you.

---

I would concentrate on paying back the "two unpaid 5 year old baddies remaining" and I would drop the idea that a credit union is some sort of workaround for bad credit.

[MountainHiker]

---

@RealEstateGuy89 wrote:

---

@MountainHiker wrote:

---

@Bmom wrote:

If you already have 4 credit cards, why get more now? You only need 3 for optimal scoring and rebuilding. Age those and wait for your charge offs to drop, or pay them off. After that your scores should be in the 700s. Your reports will be clean with nothing but a good payment history,  opening you up to whatever you want. 

---

Thanks for your input.

I agree that the cards in my possession are excellent. I was simply trying to add higher spending limit cards from a different lender. 

it's never a great idea to have all major credit cards with one lender. Two of those 4 cards are retail credit cards. Two are Cap1. I was thinking maybe a credit union would be less risk adverse. But I could be wrong. 

---

I totally agree with you. Having a more diverse set of credit cards might be helpful someday. Also higher credit limits will usually benefit you when being assigned credit limits with future credit cards. Navy Federal is well known for high limit credit cards. There is a Navy Federal thread here in the MyFICO Forums that will tell you about everything "Navy Federal" that you would want to know and it is a very beneficial read.  Even if you get an initial low limit, it doesn't take long for it to grow into a high limit card.

I've also had great experiences with Alliant and BECU. I haven't posted it yet, but I just opened a membership and credit card with BECU a couple days ago, and they gave me a SL of $21,500 to start. 12 months 0% financing. Best of luck with this endeavor.

---

Thank you for your valuable data points and advice. That is an amazing spending limit. Congratulations to you! If I may ask do you have any derogatory marks on your credit?

Trying to see who is more risk adverse regarding less than perfect credit. 

Where is BECU located and can anyone join that credit union? Would you say they are a customer service friendly lender? Are they more conservative than Navy Federal?

I very much would like to join a strong credit union that put their customers need at least equal to that lender's desire to make money. I'm currently with two credit unions and to be honest I really don't receive any services that makes being with them special. I've read very good reviews about Penfed and Navy Federal. 

I'm currently with Unity Federal credit union. A friend had mentioned VERY good things about them, but so far nothing special is standing out imo. 

[MountainHiker]

---

@SUPERSQUID wrote:

---

@MountainHiker wrote:

---

@MileHigh96 wrote:

---

@mfinsmi1 wrote:

if ur dti and utilizations is low - navy federal / affinity fcu / and greenstate (my top 3 credit unions i used during my rebuild)

---

Great list, I would also add PenFed to that list as well.  They approved me for a card just 4 months after my BK7 was discharged.

---

Sounds like Penfed is not BK7 adverse. But they probably don't want to see any unpaid charged off accounts. I do know Penfed does use FICO9 which is advantageous for credit files with paid off or satisfied through BK, derogatory accounts but still showing on that credit report. 

I know Capital One can't be the only lender who will show love when you have one or two current existing derogatory marks. I could be wrong. 

---

Penfed approved me 1 plus years after bk7 dc for the power cash rewards 7500 sl, dont apply for the pathfinder as your first card, ive seen a fair amount of denials for the pathfinder as first app.

Navy fed is great but i joined them 2 years post bk7 dc.

ymmv

---

Thank you for your helpful data points. If you had to choose between Penfed or Navy Federal which would be your favorite?

[MountainHiker]

---

@Gollum wrote:

---

@MountainHiker wrote:

Hi Everyone.

In the last 24 hours it has been suggested to me that I consider using Credit Union credit cards in reestablishing my credit. I thought maybe the good people on this website could help me with a few ideas. My credit file has two unpaid 5 year old baddies remaining. I have excellent student loans and four excellent revolving accounts. My credit score is around a 670.

Which Credit Unions do you think would approve someone with my credit file? 

Thank you.

---

I would concentrate on paying back the "two unpaid 5 year old baddies remaining" and I would drop the idea that a credit union is some sort of workaround for bad credit.

---

Hi and thank you for your input.

Dealing with those two derogatory accounts is part of my strategy. I'm attempting to rebuild by adding new beneficial lenders while deleting old derogs. It's always good to be three dimensional when possible. I definitely hear you and appreciate your support. 

[MountainHiker]

---

@RealEstateGuy89 wrote:

---

@MountainHiker wrote:

---

@Bmom wrote:

If you already have 4 credit cards, why get more now? You only need 3 for optimal scoring and rebuilding. Age those and wait for your charge offs to drop, or pay them off. After that your scores should be in the 700s. Your reports will be clean with nothing but a good payment history,  opening you up to whatever you want. 

---

Thanks for your input.

I agree that the cards in my possession are excellent. I was simply trying to add higher spending limit cards from a different lender. 

it's never a great idea to have all major credit cards with one lender. Two of those 4 cards are retail credit cards. Two are Cap1. I was thinking maybe a credit union would be less risk adverse. But I could be wrong. 

---

I totally agree with you. Having a more diverse set of credit cards might be helpful someday. Also higher credit limits will usually benefit you when being assigned credit limits with future credit cards. Navy Federal is well known for high limit credit cards. There is a Navy Federal thread here in the MyFICO Forums that will tell you about everything "Navy Federal" that you would want to know and it is a very beneficial read.  Even if you get an initial low limit, it doesn't take long for it to grow into a high limit card.

I've also had great experiences with Alliant and BECU. I haven't posted it yet, but I just opened a membership and credit card with BECU a couple days ago, and they gave me a SL of $21,500 to start. 12 months 0% financing. Best of luck with this endeavor.

---

Thank you for your input and helpful data points.

I would tell anybody to please protect their credit because it only takes a few days to destroy good credit but it can take years to repair it . 

And that's what I and so many good people are moving forward with. Trying to repair and rebuild.

Congratulations on your amazing credit card and it's spending limit. I hope to get to that point. 

Would you say BECU is a more conservative lender than Navy Federal?

I can qualify for Navy Federal because my father served in the military. 

What does BECU ask for their requirements?

Are they very customer service friendly? Where you able to receive a credit card with them while rebuilding?

Thank you for your kindness.

One of the reasons why I prefer to have different lenders is because of the various reviews I've seen on YouTube. There have been consumers that reference experiencing a change in relationship with one lender, and suddenly they were in credit trouble because they didn't have a diversified credit option. Trying to avoid that same problem if possible. 

[SUPERSQUID]

---

@MountainHiker wrote:

---

@SUPERSQUID wrote:

---

@MountainHiker wrote:

---

@MileHigh96 wrote:

---

@mfinsmi1 wrote:

if ur dti and utilizations is low - navy federal / affinity fcu / and greenstate (my top 3 credit unions i used during my rebuild)

---

Great list, I would also add PenFed to that list as well.  They approved me for a card just 4 months after my BK7 was discharged.

---

Sounds like Penfed is not BK7 adverse. But they probably don't want to see any unpaid charged off accounts. I do know Penfed does use FICO9 which is advantageous for credit files with paid off or satisfied through BK, derogatory accounts but still showing on that credit report. 

I know Capital One can't be the only lender who will show love when you have one or two current existing derogatory marks. I could be wrong. 

---

Penfed approved me 1 plus years after bk7 dc for the power cash rewards 7500 sl, dont apply for the pathfinder as your first card, ive seen a fair amount of denials for the pathfinder as first app.

Navy fed is great but i joined them 2 years post bk7 dc.

ymmv

---

Thank you for your helpful data points. If you had to choose between Penfed or Navy Federal which would be your favorite

---

 I would choose Navy because they grow quickly. I still like penfed for the regular bt offers and the 2 pct cb on the PCR.

[7774x]

---

@MountainHiker wrote:

---

@MileHigh96 wrote:

---

@mfinsmi1 wrote:

if ur dti and utilizations is low - navy federal / affinity fcu / and greenstate (my top 3 credit unions i used during my rebuild)

---

Great list, I would also add PenFed to that list as well.  They approved me for a card just 4 months after my BK7 was discharged.

---

Sounds like Penfed is not BK7 adverse. But they probably don't want to see any unpaid charged off accounts. I do know Penfed does use FICO9 which is advantageous for credit files with paid off or satisfied through BK, derogatory accounts but still showing on that credit report. 

I know Capital One can't be the only lender who will show love when you have one or two current existing derogatory marks. I could be wrong. 

---

I got a $30+,000 auto loan from PenFed with  then unpaid chargeoffs on CR.. .. they use EQ for Auto loans .. Credit Cards....Best bet is a CU for credit ,until your CR clears... Join up quickly with a CU .. build  up some  finanical relationships ..  Paid or unpaid COs will make it difficult to obtain credit Cards.from Chase ,etc. FICO scores not going much until COs fall off CR..

[MountainHiker]

---

@SUPERSQUID wrote:

---

@MountainHiker wrote:

---

@SUPERSQUID wrote:

---

@MountainHiker wrote:

---

@MileHigh96 wrote:

---

@mfinsmi1 wrote:

if ur dti and utilizations is low - navy federal / affinity fcu / and greenstate (my top 3 credit unions i used during my rebuild)

---

Great list, I would also add PenFed to that list as well.  They approved me for a card just 4 months after my BK7 was discharged.

---

Sounds like Penfed is not BK7 adverse. But they probably don't want to see any unpaid charged off accounts. I do know Penfed does use FICO9 which is advantageous for credit files with paid off or satisfied through BK, derogatory accounts but still showing on that credit report. 

I know Capital One can't be the only lender who will show love when you have one or two current existing derogatory marks. I could be wrong. 

---

Penfed approved me 1 plus years after bk7 dc for the power cash rewards 7500 sl, dont apply for the pathfinder as your first card, ive seen a fair amount of denials for the pathfinder as first app.

Navy fed is great but i joined them 2 years post bk7 dc.

ymmv

---

Thank you for your helpful data points. If you had to choose between Penfed or Navy Federal which would be your favorite

---

 I would choose Navy because they grow quickly. I still like penfed for the regular bt offers and the 2 pct cb on the PCR.

---

That's extremely helpful. Thank you. 

The folks on this site are giving, and let me say that is helpful beyond belief. I will go after Navy Federal in the coming weeks.