@MyCreditStinks wrote:
@Anonymous wrote:
It was easy to join once upon a time, but way too many people joined and now the CU was forced to tighten up ship especially since some people asked for the max credit lines due to their easyish approval standards, maxed it out and are now missing payments. Along with the good comes bad apples that will surely do whatever it takes to stay afloat a little bit longer and it hurts everyone else that joined and treating them responsibly.
Is this a fact, or just a guess? From what I read, they tighten up on their approval criteria because the sudden mass applications for membership and credit, but didnt hear it was because of maxed out credit lines and an increase of members missing payments. Its a shame if this is true.
I read about it on the last page of the large thread on creditboards, someone called up just to check the status of their app because they had already gone through a bunch of hoops and then they got grilled and asked where they heard about PSECU since they are a small CU and people were joining from all over the country and asking for large sums of credit and then maxing them out and in some cases already missing payments.
obviously, the poster could be lying but it's not that far fetched that things like this could happen with the amount of unemployment. You could call and ask them if its true if you want absolute authencity.
Starting Score: TU 652- EQ 658 - EX 668