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Credit Union better that credit card places

Ravenous Wolf

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Although I am overextended in debt (I will eventually take care of that), I wanted to get some additional credit to cover some unexpected items. The first thing I decided to do was ask my credit union for a credit limit extension.

Their rates are single digits for my VISA card and I figured that they would be the toughest to get approved so I would ask them first.

Then I would try the retail department stores.

After getting off of the phone, my credit union told me that they would let me know within a week. I figured that was their euphemism for telling me to go screw off because I wasn’t approved.

I went ahead and applied for several department store credit cards because I figured that since I do not have a single negative credit item on my credit report and I don’t have ANY lates on ANY accounts, that I would get approved even for a miniscule credit limit. Even 200 hundred dollars would be fine.

To my surprise, EVERYBODY turned me down.

I guess my utilization is what did me in.

However, a few days ago, I look into my credit union online account and lo and behold, they had increased my credit limit to my VISA card by 2k.

Now, I feel that I should never try for any more of those departmental cards.

Here I was staring down at 21 percent interest and then my own credit union approves me for a credit limit increase with a single digit interest rate.

I learned my lesson and now I am glad I got turned down.

This demonstrates to me that I need to continue cultivating my relationships with credit unions and banks. They offer far better credit terms than a department credit card ever will.

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The extra 2k stays on permanently. I am really happy how that turned out.

My credit union is a local one only for San Antonio and some place in Colorado called SSFCU (Security Service).

It is a great credit union. They have mall locations so they are open the same times that the mall is open thus a deposit until 9:00PM counts for that day. That has saved my hide a number of times.

And they have like free everything.

And it is one of those credit unions that all you need is to breathe and a pulse and you can become a member.

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