I have never been able to get a good credit card at a decent rate since my scores are below average (around 660 TU and EQ fico). So, today I called my credit union and they just approved me for a $10,000 Platinum card at 8.9% and also offered me a personal or auto loan for 2.9%. I am sure there are better credit cards out there for poeple with better scores, but for me, I am still in shock. My advice to everyone out there with similar scores is to join a local credit union fast and take advantage of offers like this.
In our CU (Navy Federal) they take the application and then ask us to call when they don't like something on the CR. They ask about the funny items, and when our responses are satisfactory they approve. NavyFed approved my DH for a personal loan with some %5 APR (don't remember exactly but it was low) when his score was shot, about 550. He was in the middle of the divorce then and had some credit cards maxed out big time plus 2 derogs. He explained about the divorce and the gal said 'ok, you're approved'. Hey, it could have been just pity, now that I think about it.... PawMix
Ahh, one other thing. In all our history with Navy Federal, we never had any problems with payments either. All payments were credited on time, and disputes of charges resolved swiftly. Customer service also seems to be top notch, I have yet to find a CSR who is unpolite and doesn't know what he\she is talking about. NFCU also reports correctly to the CRAs, never had to dispute anything to, for example, correct credit limit or balance. We also had a mortgage through NFCU and it was just a dream dealing with them, a refreshing breeze after Countrywide Home Loans. It also helps that they are very familiar with VA loans and have some special programs, as well as all sorts of mortgage arrangements for people with bad credit or unstable employment history. All in all, the CU was always a sort of an emergency fund provider to us. We were never denied for anything. PawMix
i love navyfed.....we were finally able to join since we moved to a diff. state. they just refinanced our van. i'm thinking of applying for a cc with them and dumping providian, but after getting the auto loan, didn't want to push my luck. i think my CA has reported us to the CRA's since i wouldn't give them my chk. acct. #. any ideas of when i should apply for a cc with them? wait till we get a couple of auto payments under our belts or what?
not all credit unions are so generous.. I have a cc with mine in good standing (but it has an outrageous rate and low cl) and of course the standard checking and savings (never overdrawn, no problem) for over 3 years... but when I needed an auto loan, they declined me outright on the spot saying too little income for a 5K loan. Got the loan elsewhere no problem.
