I just joined a credit union (through my Dad) about 2-3 months ago (have savings acct). They offer a visa/ mastercard @ 11.9, no ann fee and 25 day grace, and a Gold Mastercard @ 10.9, no fee, with grace. Do you think their standards would be high like many other issuers? I guess this is a silly question, but I've never been with a CU before. The rates are attractive, but my credit is not well established so I feel as though I would be denied if I tried to apply. What do you guys think?
I personally think a credit union is the BEST place to get a card. First, the interest rates are very low, they don't have predatory overlimit/late fees, and they have human beings with whom you can talk and establish a relationship. My credit union offers a 10.95% APR Gold card. Minimum credit score? 600. You can't beat that.
CUs are the best I would love to get a card from my CU. I applied and got denied. But they did offer me a secured card. I'm still debating on whether I should go for this or not.
Re: CUs are the best I have had great luck with my credit unions. 2 prime cards with 3K and 2K limits respectively. But I had to sit down with the credit representative and plead my case. Othwise, no cards. They also asked for documentation on why I BK'd and my income, assets etc. I had been with the credit unions for many years. The interest rate I got is 13.9% in each case. This is the same as everyone else. If you remember, one credit union turned me down last month for an increase in limit after I was extended credit 5 times in 8 months by the credit unions, Cap 1, Providian, Nordstrom. they said to wait. Fair enough.
