[las vegas drunk]

Originally Posted by las vegas drunk

When I receive the rejection letter I will post the reasons.

Ok, the rejection letter came in the mail today. It says this:

Principal reasons for credit denial, termination or cancellation:

Excessive obligations in relation to income

Garnishment, attachment, foreclosure, collection action, repossession or judgement.

Income insufficient

It then says this:

Your credit score is 691. Key factors that adversely affected your credit score:

(1) Derogatory public record or collection filed

(2) Length of time accounts have been established

(3) Time since derogatory public record or collection is too short

(4) Lack of recent installment loan information


********** place. My credit score isn't even that bad (I thought it was much worse). I have had a Capital One Mastercard with a $11,000 limit for the last three years with no late payments. This stupid OneNevada would not even give me a measly $1,000 limit credit card. I will let everyone I know about this this crappy credit union. It looks like their reviews are also terrible. I wonder why

One Nevada Credit Union

[logline]

LVD, it does indeed sound like you do have some credit issues. You can't blame a credit union for being responsible... unlike the big bank which so freely gave you that Mastercard. Do you honestly believe you would qualify for that Capital One card if you applied today?

The good news is that with enough time between now and that "derogatory public record or collection" and maintaining your consistent payment history, you'll be able to lower your debt-to-income ratio and improve that credit score to 800 or so. Keep it up.

[las vegas drunk]

Originally Posted by logline

LVD, it does indeed sound like you do have some credit issues. You can't blame a credit union for being responsible... unlike the big bank which so freely gave you that Mastercard. Do you honestly believe you would qualify for that Capital One card if you applied today?

The good news is that with enough time between now and that "derogatory public record or collection" and maintaining your consistent payment history, you'll be able to lower your debt-to-income ratio and improve that credit score to 800 or so. Keep it up.

Eventually all the bad marks will eventually fall off. I have not had any for the last 4 years. Honestly, I do not know if Capital One would qualify me today considering my income has fallen in half since losing my job.

[von949]

Originally Posted by las vegas drunk

Ok, the rejection letter came in the mail today. It says this:

Principal reasons for credit denial, termination or cancellation:

Excessive obligations in relation to income

Garnishment, attachment, foreclosure, collection action, repossession or judgement.

Income insufficient

It then says this:

Your credit score is 691. Key factors that adversely affected your credit score:

(1) Derogatory public record or collection filed

(2) Length of time accounts have been established

(3) Time since derogatory public record or collection is too short

(4) Lack of recent installment loan information


********** place. My credit score isn't even that bad (I thought it was much worse). I have had a Capital One Mastercard with a $11,000 limit for the last three years with no late payments. This stupid OneNevada would not even give me a measly $1,000 limit credit card. I will let everyone I know about this this crappy credit union. It looks like their reviews are also terrible. I wonder why

One Nevada Credit Union

The 2 comments on that website are pretty awful. Their comments sum up about 70% of the problems I had when I was with a Credit Union. They are not convenient at all.

[las vegas drunk]

Originally Posted by von949

The 2 comments on that website are pretty awful. Their comments sum up about 70% of the problems I had when I was with a Credit Union. They are not convenient at all.

Yes, at least will Wells Fargo I have access almost anywhere unlike a credit union.

[clutchcargo777]

First, I'm not defending OneNevada CU, I've heard nothing but bad about them and wouldn't waste my time with them, but why do you need a branch of your bank/Cu on nearly every corner? What are you using these branches for? I'd be happy if my CU had one or two branches in the entire town (and then, just for emergencies). In the last 15 years I have gone to a branch at one of my CU's about 3 times.

Figure out their ATM network and do just about everything else online. I would not feel comfortable if I didn't have physical access to one local financial institution, but the rest are all a single day ACH transfer away.

[las vegas drunk]

Originally Posted by clutchcargo777

First, I'm not defending OneNevada CU, I've heard nothing but bad about them and wouldn't waste my time with them, but why do you need a branch of your bank/Cu on nearly every corner? What are you using these branches for? I'd be happy if my CU had one or two branches in the entire town (and then, just for emergencies). In the last 15 years I have gone to a branch at one of my CU's about 3 times.

Figure out their ATM network and do just about everything else online. I would not feel comfortable if I didn't have physical access to one local financial institution, but the rest are all a single day ACH transfer away.

The atm access is the most important to me. I have also not been inside of the bank for years. My paychecks were always direct deposit, and I would use atm machines for cash withdrawals. If I used a Wells Fargo, they would be free. However, if I used another bank's atm I would get charged both by the other bank and Wells Fargo adding up to around five dollars. One Nevada's closet atm was 3 miles from me. With Wells Fargo, I have 3 that are under a mile away, one being across the street.

[PinotGuy]

Aren't credit unions associated with specific banks to allow customers to withdraw money? A number of them in CA are doing this and all ATM transactions at Bank X against your credit union account are free of charge. Just call a credit union and ask.

[clutchcargo777]

Originally Posted by las vegas drunk

The atm access is the most important to me. I have also not been inside of the bank for years. My paychecks were always direct deposit, and I would use atm machines for cash withdrawals. If I used a Wells Fargo, they would be free. However, if I used another bank's atm I would get charged both by the other bank and Wells Fargo adding up to around five dollars. One Nevada's closet atm was 3 miles from me. With Wells Fargo, I have 3 that are under a mile away, one being across the street.

It's all about the ATM network, I use Alliant CU out of Chicago that now has free ATM at 800,000 places. All 7-Elevens are free for instance.

5 Credit Union Myths Busted - Current Rates, News and Information about Banks and Banking | Go Banking Rates

Credit unions really are the way to go. Just pick the right one.

[von949]

Originally Posted by clutchcargo777

It's all about the ATM network, I use Alliant CU out of Chicago that now has free ATM at 800,000 places. All 7-Elevens are free for instance.

5 Credit Union Myths Busted - Current Rates, News and Information about Banks and Banking | Go Banking Rates

Credit unions really are the way to go. Just pick the right one.

That's the most important thing to do. They are not all equal.