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I'm helping a friend and he has low 600 scores and only 1 credit card (store) and 1 car loan.
Which credit union would be best to join to get a credit card and refi of car?
I think it is all over the net:
NAVYFCU, PENFED, USAA (which is not CU)
navy and maybe usaa, pen fed is a poor choice with the current profile referenced.
Navy and USAA are the two they should join.
Navy for the easy credit terms, and USAA because they can join as a "full" member, eligible for insurance and many benefits non-military are excluded from. Penfed? Not right now. Maybe down the road. Good luck to them!
@Creditaddict wrote:I'm helping a friend and he has low 600 scores and only 1 credit card (store) and 1 car loan.
Which credit union would be best to join to get a credit card and refi of car?
I'd still join Penfed.
Me: Opened a savings account last October, set up with employeer to put in $25 per 2week paycheck. Was denied CC with low 700's but high 50% utilization. Paid down utilization to low 20% now, waiting for 1 more account to show show zero balance, then I'll reapply. I'm mid 700's now, expecting to be high 700's with the 5k showing paid in full.
You: Six months from now you won't be in their system as a newbie with them, and I can only think that would help you whenever you do decide to app up for a card. If you don't plan on getting your scores around mid 700's and utilization under 20%, then I'd say maybe pick someone else.