I would like my son who is now 18 to get into a credit union and get a savings secured loan to build his credit. Only thing is he is only on one of my credit cards and doesn't have much of a history. It shows on his report that the AAoA is 1.5 years and it is only for 1 credit card account. The card is at 25% untilization no lates or missed payments. His score on Credit Karma is around 750 because of this one account. How hard is it to get into a credit union and would he be able to get a saving sercured loan?
I can tell you this, his stats are just fine. It really comes down to whether or not you want to be in a CU that has entry requirements, i.e. Navy, PenFed, etc. Local CUs will take you in a heartbeat.
