Looking into credit unions.

[Anonymous]

I am looking into Navigant, Navy Fed (If I can get proof from a deceased relative) and Pen Fed because I need either a personal loan or 0% offer on a credit card to do a BT.

Do you open a savings or checking account with the CU first or do you apply for a CC right off the bat? Which one is more likely to ignore a higher utilization?

I've read that debt consolidation loans aren't the best way to go because they assume you'll just rack your cards up again while you pay their loan. What kind of loan would it be where you can say personal expenses but they mail you blank checks to do what you want with or just deposit it into your bank account?

[zerofire]

Yea Banking was so much easier before CU's became a thing. With a CU you start with a Share Savings account. This is a regular savings account where you must place $5 and that $5 is locked there until you leave the CU. You can add more money on top of the initial $5 if you want as the CU will not mind holding on to more cash. Then you apply for the card after you have the Share. Be aware that different CU's have different rules on how the HP can be reused. PenFed for example allows you 30 days to use the HP for any account you want and the first one will usually be for membership.

As for tolerating high utilization almost all of them will as long as you meet some criteria. Remember that at a CU you are their boss so they will do anything they can within reason to approve you but make sure you pay them on time.

[Anonymous]

Thank you, zerofire. You just reminded me that I already have $10 sitting in an Alliant savings account for a while now because I joined shortly  before they dicontinued the SSL technique.  I guess I can add that one to my list of research.  Wouldn't Penfed be a waste of an HP if it's just to get a savings account that could get denied?