Joining several Credit Unions... In what order should I apply for their credit cards?

[Anonymous]

Hearing great things about these CU’s and I know some are more inquiry sensitive than others:

Patelco (EX)
Addison (EX)
Alliant (EQ)
Affinity (EX)
+ Possibly Justice (EQ), CCCU (EQ), Digital (EQ)

Credit scores around 770

I have 3 inquiries on each CRA:

In which order should I apply for them for best approval results?

I also have 20K balance out of 100K available credit so let me know if I should cross any CU on the list because of moderate level of debt (20%)...

Message Edited by LetGetCC on 11-08-2009 09:47 PM

[RobertEG]

What are you trying to gain by adding multiple CUs to your credit portfolio?

If your FICO is around 770 now, why show a flurry of application?

I would pick one, and go with that, if they offer things you like.  But it is not a FICO positive.

Joining a CU does not improve your credit score.  Each will involve a new inq.  Deposits with them are invisible to FICO.

Maybe I am missing something in your plan?

[marty56]

At this point, unless your have a specific need for a new CC, I would also wait for the INQ smoke to clear.  What is your specific goal in getting a new CC? IMHO 20k of CC debt is a large amount despite what your total CL is.  In the past I was deined credit for having too much CC debt and altough all my cards were also maxed out then, these days who knows.

[Anonymous]

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@RobertEG wrote:

What are you trying to gain by adding multiple CUs to your credit portfolio?

If your FICO is around 770 now, why show a flurry of application?

I would pick one, and go with that, if they offer things you like.  But it is not a FICO positive.

Joining a CU does not improve your credit score.  Each will involve a new inq.  Deposits with them are invisible to FICO.

Maybe I am missing something in your plan?

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Well I've been hearing great things about CU's and I want 4-5 strong CU cards since I don't have any yet. I want to have a strong CU credit portfolio in 2 years and using inquiries right now would be an investment. I've been reading reviews on many CUs and I came up with that list of 4-5. I could still use some advice as to CUs to apply for first and last...

Message Edited by LetGetCC on 11-09-2009 09:20 AM

[Imhotrodcrazy]

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@Anonymous wrote:

+ Possibly Justice (EQ), CCCU (EQ), Digital (EQ)

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I have checking, savings and a cc with CCCU.  I am in Calif and they pulled EX on me.  Just wanted to pass this bit of info on to you.  Good luck in your search.   

[DI]

Are there any benefits joining multiple CU's? 

[Anonymous]

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@DI wrote:
Are there any benefits joining multiple CU's? 

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Yes there are always benefits to having multiple CU's. Its about diversification and not putting all your eggs in 1 basket... 

[Anonymous]

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@Imhotrodcrazy wrote:

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@Anonymous wrote:

+ Possibly Justice (EQ), CCCU (EQ), Digital (EQ)

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I have checking, savings and a cc with CCCU.  I am in Calif and they pulled EX on me.  Just wanted to pass this bit of info on to you.  Good luck in your search.   

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Thanks for sharing that! didn't know they pulled EX also

Message Edited by LetGetCC on 11-09-2009 11:49 AM

[mt2va]

There's a big thread on here about Alliant what people's scores were, derogs, etc at the time they apped. 

If your elibible I highly recommend NFCU & they won't care about inquiries or what order you do what in.

Also with your score you may have good luck with Penfed. 

[Anonymous]

Of the credit unions you mentioned, I only have Alliant.  When I applied with them I had 5 or 6 inquiries and it wasn't a problem.  I know that Andrews FCU isn't on your list but I applied for $10,000 a couple of months ago with a boat load of inquiries on Experian and got instant approval.  I only see the one inquiry from them, so it must have been a soft to join.