i was told by joining a credit union that it would help build my credit, how does that work? pls explain thanks
credit union question
i was told by joining a credit union that it would help build my credit, how does that work? pls explain thanks
Well.. if you just open a regular savings or checking account.. "More" then likely they will not report to the credit bureau.
If you open some sort of credit card or loan with them.. Then yes.
just open up a secure credit card.. Thats almost a garantee that you will get it..
When you try to open "Non secure" credit cards and not get approved , it keeps adding inquiry's to your credit. which is not a good thing.
With a Secure, you make a deposit in which becomes your credit and some even match what you deposit, which is usually a $250 deposit or something.. they report every month, aslong as you use the right company.
is it usually easier to get loans through credit unions? i have no credit at all and i have been with the company for 2.5 yrs if that helps any
Is usually easier and better rates also, depends on loan.
I am not in a credit union myself due to lack of locations... But I heard they are better on certain loans and rates.
interest on car loans are better and you get higher interest rates on cds.
The University of Florida Gators 2008 Football National CHOMPions.
Originally Posted by BB6dohcvtec
exactly, at most CU's anyway
-2001 Lexus IS300
-2004 Pontiac GTO - 530hp/625ft lbs - 10.62@130mph - Sold!
hmm... thanks for the advice i might give them a call tomorrow
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