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Rebuilder looking for a good Credit Union

Brickbybrick
Regular Contributor

Rebuilder looking for a good Credit Union

Hi guys, so NFCUs back doors are closed and PenFed generally requires good credit. My credit is a 620-630 once my report updates. Payed down all credit cards except one to 9%. So I want to establish good relations with a credit union for a car in the future.
I was looking at Alliant since it's Illinois based, is that a good idea or can someone suggest anyone better. Thanks !
5/27/17 Experian: 679 Equifax: 628 TransUnion: 630
Cap1 QS:600 Credit One: 600 Merrick Bank: 550 Amex: 500 JCrew: 250
Message 1 of 24
23 REPLIES 23
CreditGuyInDixie
Super Contributor

Re: Rebuilder looking for a good Credit Union

Do you have any open installment loans?  If not, Alliant would be a good choice, simply because we know it is a good place for implementing the SS Loan Technique.  You can find out about it here (you only need to read the first 2-3 posts):

 

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Adding-an-installment-loan-the-Share-Secu...

Message 2 of 24
Brickbybrick
Regular Contributor

Re: Rebuilder looking for a good Credit Union

I have a whopping 30K student loan debt still rolling lol

5/27/17 Experian: 679 Equifax: 628 TransUnion: 630
Cap1 QS:600 Credit One: 600 Merrick Bank: 550 Amex: 500 JCrew: 250
Message 3 of 24
SouthJamaica
Super Contributor

Re: Rebuilder looking for a good Credit Union


@Brickbybrick wrote:

I have a whopping 30K student loan debt still rolling lol


You should probably research your local credit unions. That's where you get your best shot.

 


Total revolving limits 677500 (584500 reporting) FICO 8: EQ 758 TU 777 EX 749

Message 4 of 24
Brickbybrick
Regular Contributor

Re: Rebuilder looking for a good Credit Union

So then Alliant would make the most sense I believe, they're based in IL.
5/27/17 Experian: 679 Equifax: 628 TransUnion: 630
Cap1 QS:600 Credit One: 600 Merrick Bank: 550 Amex: 500 JCrew: 250
Message 5 of 24
MCHouston
Regular Contributor

Re: Rebuilder looking for a good Credit Union

What are you looking to do? do you just want to raise your score with an SSL? Are you looking for loans or credit cards?

FICO 8 Scores 02/21/2017 EQ 593, TU 584 EX 602 -- 06/21/2017 - EQ 632, TU 652, EX 656
Message 6 of 24
Brickbybrick
Regular Contributor

Re: Rebuilder looking for a good Credit Union

I wanted Credit Cards with higher limits to better my score and I hear credit unions give the best amounts. Thanks.

5/27/17 Experian: 679 Equifax: 628 TransUnion: 630
Cap1 QS:600 Credit One: 600 Merrick Bank: 550 Amex: 500 JCrew: 250
Message 7 of 24
MCHouston
Regular Contributor

Re: Rebuilder looking for a good Credit Union


@Brickbybrick wrote:

I wanted Credit Cards with higher limits to better my score and I hear credit unions give the best amounts. Thanks.


In that case I would not suggest Alliant CU for credit cards, I have not seen too many rebuilders with their CC and large limits.

 

I heard Unify CU approves credit card for lower scores but I have no experience.

 

Your local credit union is also worth a shot.

FICO 8 Scores 02/21/2017 EQ 593, TU 584 EX 602 -- 06/21/2017 - EQ 632, TU 652, EX 656
Message 8 of 24
Brickbybrick
Regular Contributor

Re: Rebuilder looking for a good Credit Union

Thank you! Ill check them out, I also hear a lot about PenFed? Maybe open a savings account till my credit score gets better, atleast till then I can build some sort of relations?

5/27/17 Experian: 679 Equifax: 628 TransUnion: 630
Cap1 QS:600 Credit One: 600 Merrick Bank: 550 Amex: 500 JCrew: 250
Message 9 of 24
MCHouston
Regular Contributor

Re: Rebuilder looking for a good Credit Union


@Brickbybrick wrote:

Thank you! Ill check them out, I also hear a lot about PenFed? Maybe open a savings account till my credit score gets better, atleast till then I can build some sort of relations?


Penfed is a good choice with a better score, the reason I would wait is below.

 

They do a HP pull on your credit to join and it is good for 60-90 days for other products, so if you wait till your scores are better you can join, CC, PLOC and other all with 1 pull.

 

If you join and open credit accounts later on, you will recieve multiple HPs to your credit report.

FICO 8 Scores 02/21/2017 EQ 593, TU 584 EX 602 -- 06/21/2017 - EQ 632, TU 652, EX 656
Message 10 of 24
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