Reasons why I love credit unions

Discussion in 'Credit Talk' started by curiouser, Oct 3, 2001.

  1. curiouser

    curiouser Well-Known Member

    I was in a fairly major car accident on friday. I'm okay; sore muscles and ugly bruises. (Air bags and seat belts are very good things.) My car was not so lucky; the front end is gone. Insurance company totals the car; no big surprise.

    Anyway, knowing that I need to purchase a car, I apply on-line on late Sunday afternoon. I had an answer by 10:00 on Monday and the amount was deposited into my account by Monday afternoon. I have an excellent rate for a used car 6.25%. Plus the representative said that I was approved for their Visa Gold card. If I wanted it< i just had to give her permission to send it. Great interest rate 10.9 fixed -- it's been that rate for years.

    Moral of this story, establish a relationship with a credit union. I am always pleased with the level of service I get from these institutions.
  2. Flagirl

    Flagirl Well-Known Member

    I feel EXACTLY the same way...I finally refinanced my car that I bought in January (with Transouth for 14.99%!!!) I got an 8% rate and a gold card too!
    The CU told me that my credit rating was good (627)!!! I was first TURNED DOWN for refinancing by People First and Household Finance wanted to charge me 19%!! Can you believe that??!! I am so happy that I went to the CU!!!!
  3. matty61184

    matty61184 Well-Known Member

    I also am very happy with my credit union. I have a 7.5% interest rate on my auto loan. The only thing I wish they would fix is the Visa Classic I have with them. It was issued a year and a half ago with only a $300 limit (my frist card ever) and I've always used it EVERY month and paid it off. They said to get a credit limit increase I need to apply and they will check my credit, so that's a no go for me. I guess it really doesn't matter though with Chase Platinum there ($8500) but I wish they would do regular reviews for credit increases. By the way, the rate is 11.89% for the Classic card, and currently 7.5% with the gold card.
  4. Bill B

    Bill B Well-Known Member

    Well back before i had much credit when i was first starting off they denied me for a $1,000 loan..But if i get my new job and pay down my cc debt i am sure going to try it again..Shit come to think of it they denied me a $200 thing for checking accounts
  5. sam

    sam Well-Known Member

    Damn i'm going to switch from netbank/ing to my credit union tomorrow!! heh, i admin their secure web server, so maybe i can pull some stringz.
  6. Jim

    Jim Well-Known Member

    Sorry to hear about the accident Curioser!

    I don't want to sound like a broken record but the CU's have been great to me.

    BTW - you guys have me beat. I have 3 CU prime cards and a line of credit. But the best visa gold rate I have is 12.4%. MyLOC is 10+%.

  7. eman

    eman Well-Known Member

    With me, the great thing about CUs are that I never get charged any fees. I get free check writing, free teller transactions, and free phone rep calls. They even pay interest on my checking account (real small of course 1.00%APR).

    My only complaint is that they only have 2 ATMs. I have to drive 15 minutes to use it. That's why I just opened an account with Wachovia just so I can use their ATMs anywhere I go.
  8. Jim

    Jim Well-Known Member


    No fees here either. Interest is paid on checking account.

    CU's have been very generous as I have a BK.

  9. sam

    sam Well-Known Member

    eman do you have publix grocery stores ? Their presto's are always "no-fee" in front :)

    gotta love them for that!
  10. Dani

    Dani Well-Known Member


    I'm glad you're okay.

  11. marci

    marci Well-Known Member


    I'm glad you're okay, too...
  12. Hope

    Hope Well-Known Member

    Glad you're alright. Curiouser, that very thing happened to a friend of mine a few years ago. She, too was very relieved that her CU took good care of her. And in her case, she had just started a new job the week before the accident!
  13. curiouser

    curiouser Well-Known Member

    Thanks all. I go car shopping this weekend. Looking at Honda Civics 1999 or 2000. Any feedback?
  14. marci

    marci Well-Known Member

    Toyota Corolla. 'Nuff said... :)
  15. supershawn

    supershawn Well-Known Member

    A few suggestions.....

    1. Shop around!

    2. You will most likely find the best Honda (used) prices at Non-Honda dealerships. Honda/Acura dealerships always have higher prices on their own used cars for some reason.

    3. Do a VIN check. If you find a few you like, get the VIN number. You can run a check online to get the service history of the car. make sure the mileage is ok (or at least close), see if it has had (major) repairs done, etc.

    4. Used cars. Especially newer used cars. Look at the rubber/plastic 'trim' around windows, doors, etc. Look for paint 'over-spray', or where repairs might have been done and re-painted. Also, ALWAYS look at your car under flourescent lights...thats the easiest way to see dents/dings/paint defects.

    5. Don't be afraid of a 'warranty'. Warranties are GOOD things, especially on imports where parts run 10-15% higher in general. HOWEVER, Don't pay too much for the warranty. Ask the delaer to show you warranty cost and offer 50- 100 dollars over it. That is a fair price and ANY F&I guy would be willing to do it unless he is shady.

    6. Shop now, shop hard, but try to buy at the end of the month....Saturdays are also good as thats when dealers usually have one-day sales contests for salespeople. Also, the later in the day, the better.


    8. Get prices online also....check , , , , etc.....
    Online prices will help you shop locally.

    Hope this helps!

  16. Mist

    Mist Well-Known Member

    Go for the Honda Civic!!! Mine is a 1992, over 130,000 miles now and the most I've paid in 9 yrs of ownership is a total of $500 for extraneous repairs other than typical maintenance. It still looks great, drives nice, and has the most comfortable seats (great for my very long drives) around. The gas mileage has saved me so much $$, too! I plan to buy another one sometime next year and give this one to my daughter.
  17. dlo64

    dlo64 Well-Known Member

    Have had both a Honda Civic and Toyota Corolla. Liked the Corolla better. If you live in an area where it snows in the winter the Corolla has better traction on the snow. Our Civic slid around in the slightest snow on the street. Don't know why, but that was our experience with the Civic.

    Just my 2¢

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