for either a Signature Loan or a Credit Card at my Credit Union (their Classic Card - the one for establishing credit or re-establishing credit.) This card has no fee and as low as a 15% APR? I am a member of a large credit union but have been inactive since I was injured over 6.5 years ago. I called them to see if they would work with me since I had a recently discharged bk. I was bounced around from person to person before I was told that they would have to run a new credit report - just looking at my recent three would not be good enough. I did make it clear to the "loan officer" that my credit report contained many errors. My question is should I risk an inquiry on my credit report? I can apply on-line for a loan. I just want to re-establish some good trade lines with a minimum number of inquiries. I want to able to qualify for even a very good sub-prime mortgage rate in about 15 months (3 months post discharge) so it's imperative that I have at two or line new credit cards and/or loans ASAP.
I have had the best experience with my credit union; I got a secured credit card with them when I had nothing but bad credit now itâ??s my oldest account, unsecured and the second best rate of all my cards. They are not likely to treat you like a second class citizen like a sub-prime lender. I would never advise anyone to get a sub-prime card, because of high rates, stupid fees, and crappy service in general. But I think it's a good start to have a card, even a secured card with your local credit union. And if you are going to take an INQ hit you are more likely to get an offer for a secured card rather than an outright reject, if it is not mentioned online when you apply you can ask for a live person to reconsider. I hope this helps
Bump...search function not working. Thanks for the reply. Hoping for additional input. Thanks, CNeters!
