How often can I open credit union accounts?

[Anonymous]

Hey all, I'm starting the credit union interest chasing hobby in while I'm waiting for my 5/24 to fall off so I can open a sapphire. I opened DCU a few months ago and just got DECU last night. Plan to grab redstone, cu of new Jersey, premier members cu, patelco and St. Mary's. 

Two questions, how long (if at all) should I wait between apps?

Any high interest ones I've missed?

I have a small understanding of Chex systems so just looking for a little further knowledge.

Thanks! 

[AllZero]

Credit application- zero since your goal is Chase.

CU membership application:
Once every 3 months would be minimum.
Once every 6 months if being safe.

[Anonymous]

Awesome, yeah I am not planning on getting any CC, just savings/checking/money market.

So it's gonna take a couple years... Ugh.

[Green456]

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@Anonymous wrote:

Hey all, I'm starting the credit union interest chasing hobby in while I'm waiting for my 5/24 to fall off so I can open a sapphire. I opened DCU a few months ago and just got DECU last night. Plan to grab redstone, cu of new Jersey, premier members cu, patelco and St. Mary's. 

Two questions, how long (if at all) should I wait between apps?

Any high interest ones I've missed?

I have a small understanding of Chex systems so just looking for a little further knowledge.

Thanks! 

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It really depends on a credit union. In 2019 I opened 6-8 credit union accounts. Nobody gave me any issues. I would personally start with the most conservative credit union first and then apply every month maybe every month and a half. I probably wouldn't bother waiting more than 2 months. If credit union is conservative then you may have to wait 1 year to apply. So might as well get those less conservative ones out of the way and then start the waiting period. Good luck on your interst chasing. I think it is a nice hobby as you can get probably about 3% combined interest on first $10,000 without any risks. After taxes and inflation you probably get 0.25% interest but at least it is not negative interest.

[Anonymous]

Does anyone have data on which ones are "conservative"?

[Green456]

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@Anonymous wrote:

Does anyone have data on which ones are "conservative"?

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Look at doctor of credit for chex sensitive credit unions. I think DCU was one of them.

here: https://www.doctorofcredit.com/banks-credit-unions-chexsystems-inquiry-sensitive/#BanksCredit_Unions_That_Are_Inquiry_Sensitive

[ChazzieT]

Everything is a little off right now with the FED trying to shore up the economy from COVIs-19, but look at Affinity Federal CU, Langley FCU and US Alliance.

[ChazzieT]

Also Blue FCU, but get tem early as they're chexsys inquiry sensitive.