Question about FICO score and CUs

user5387 · ‎07-01-2010

I am looking for advice about restructuring a $4K CC balance that I'm carrying.

I am self-employed, with provable income of around $25-35K. Because of the relatively low income, my DTI is around 35-40.

I pulled my EQ FICO yesterday at this site, and it's 761. I expect that EX/TU would be similar. I have no overt negatives, such as lates, collections, or BK. Utilization is around 16%, and AAoA around 6 years. There is one INQ on each report for the last six months, and three new accounts showing in the same time frame.

I would really like to restructure the $4K into a term loan, LOC, or another CC via BT.

I am not a member of any CUs, and would like to go this route if possible. I feel like the relatively high DTI is an obstacle, though.

I have not yet found any local possibilities (Colorado). One national CU that comes to mind is Alliant.

Does anyone have ideas about CUs that might be open to this scenario?

Thanks.

RobertEG · ‎07-01-2010

I have dealt with banking instiutions for years, and have always found the best service and rates to come from my credit union

Go onto the NCUA website, and surf for an eligible CU.

CU membership requirements vary, widely.

Some based on occupation, others based on locatlity, and others will let you in for only a fee.

The biggest CU in the world is NavFedCU, but you have to have some form of active military service to qualify.

Just under them is the Pentagpm Fed CU/. I think they have a provision that if join their affilated Armed Forces suport group. you can get membership.

Surf, and you will find!

MarineVietVet · ‎07-01-2010

@RobertEG wrote:
I have dealt with banking instiutions for years, and have always found the best service and rates to come from my credit union
Go onto the NCUA website, and surf for an eligible CU.
CU membership requirements vary, widely.
Some based on occupation, others based on locatlity, and others will let you in for only a fee.

The biggest CU in the world is NavFedCU, but you have to have some form of active military service to qualify.
Just under them is the Pentagpm Fed CU/. I think they have a provision that if join their affilated Armed Forces suport group. you can get membership.
Surf, and you will find!

+1

From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
6/10 TU -772

You can do the same thing with hard work

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