CU's: From Chk/Sav to CC's (How long?)

[improvingmycredit]

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@Anonymous wrote:

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@improvingmycredit wrote:

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The card that they gave you, did it have a special promotion of 0% interest or anything of the sort?

Right now I just have one MBNA with a 4800 balance at 14.24 and a Freedom with a 0 balance on it. Just looking to add another credit card to the mix.

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Most CU don't charge a transfer fee and I got the BTs at 3% less then APR for the life of the BT.

You'll find most CUs have a lot lower rates then the larger bank cards.  For example:  My CU rate on my VISA is 8.9% - my BT Apr was 5.9% until paid off.

[bichonmom]

You don't have to wait at all. I joined a local CU last year and apped for a CC about a week or so later. It depends on what your CR looks like. If you're in good shape, then there is no need to wait. If you need to do some work on it, then you can join, improve your score, and then app.

Some require a HP to open/join and others will do soft. You can ask. I joined 2 CUs last year and both were soft. But some do HP. They should be able to tell you if you ask them.

[LS2982]

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@Anonymous wrote:

To all those who have accounts in a credit union, how long did you wait to go from opening an account with them, to applying for their specific brand of credit card?

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I don't think you need to wait, it's pretty much how your file looks like and do you need it. Me personally I'm waiting until Auguest to try PSECU 5k combo.

[Anonymous]

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@bichonmom wrote:

You don't have to wait at all. I joined a local CU last year and apped for a CC about a week or so later. It depends on what your CR looks like. If you're in good shape, then there is no need to wait. If you need to do some work on it, then you can join, improve your score, and then app.

Some require a HP to open/join and others will do soft. You can ask. I joined 2 CUs last year and both were soft. But some do HP. They should be able to tell you if you ask them.

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Other than a CO that's not even supposed to be there and that I am in the midst of clearing up, which also forced my CS to take a hit, I have nothing else.

Just years and years of on-time payments, but it's the CO that's dragging my score down, so don't want to walk into a CU and get hard pulled AND denied at the same time. Definitely don't want to get blindsided. So I'll wait until I see the CO matter resolved.

[visorboy1974]

Same day

[Anonymous]

After reading this thread, I decided to take the plunge and apply for my CU's credit card. I only opened a checking account with them last week and yesterday I applied for the credit card and got approved today for $1300. Really really excited! I didn't get instant approval but I called in to verify some information such as income and etc. I will say that it seems that they look at your overall credit report. $1300 is my biggest limit so far and I'm sitting at 98% of ultilization. So I definitly wasn't expecting to get approved at all..Just need to fax in pay stubs and I'll be set.

[Anonymous]

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@Anonymous wrote:

After reading this thread, I decided to take the plunge and apply for my CU's credit card. I only opened a checking account with them last week and yesterday I applied for the credit card and got approved today for $1300. Really really excited! I didn't get instant approval but I called in to verify some information such as income and etc. I will say that it seems that they look at your overall credit report. $1300 is my biggest limit so far and I'm sitting at 98% of ultilization. So I definitly wasn't expecting to get approved at all..Just need to fax in pay stubs and I'll be set.

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Do you happen to know what your scores are at? Credit report look solid?

Thanks for the heads up on the pay stubs, I guess I should print out a few and keep them handy.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

After reading this thread, I decided to take the plunge and apply for my CU's credit card. I only opened a checking account with them last week and yesterday I applied for the credit card and got approved today for $1300. Really really excited! I didn't get instant approval but I called in to verify some information such as income and etc. I will say that it seems that they look at your overall credit report. $1300 is my biggest limit so far and I'm sitting at 98% of ultilization. So I definitly wasn't expecting to get approved at all..Just need to fax in pay stubs and I'll be set.

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Do you happen to know what your scores are at? Credit report look solid?

Thanks for the heads up on the pay stubs, I guess I should print out a few and keep them handy.

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I know my EQFICO was 667. Credit report is solid for the most part, just had extremely high ultilization(98%).  AAOA 2 years and 9 months. 2 credit cards and 1 auto loan. 5 inquires (2 of them recent).

Also, I don't know if this matters but when I applied for the card with my CU there was a section on the application for "Purpose" and Balance Transfer was there. I chose that since they have a 0% promotional offer for 12 months. When I called in he did ask me a few questions on that and I pretty much told them that I would rather not pay interest on those cards and would love to transfer the balance over to my CU. Surprisingly, they approved me and help me setup the balance transfer that day. I'm just surprised because they gave me my largest limit yet which I think had to do a lot with the balance transfer since he asked me how much I would like to transfer. I pretty much combined the amounts of those two cards which was around $1200 and he approved me for $1300.

[Anonymous]

Thank you Chris. I'm looking to head to the CU within the next week.

Just got my Equifax FICO score and it's at a nice 743 with no negatives/collections.

Super ecstatic!