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| *Loan,banking and credit>>>credit report |
Is it true that using a credit union for building your credit is bad because they dont report your payments? |
I was told I should get a loan at a bank instead of a credit union because they dont report my loan as good credit to the credit agencies. They most surely do! I started building my credit by applying for a credit card from a credit union; the card and payments ARE on my credit report. That's nonsense, of course they report your payments. Whoever told you that is probably still laughing that you walked away believing it. If they didn't EVERYONE would borrow from credit unions and never make payments on time. Most certainly not!! I use a credit union, and they always post my payments! Majority of my credit was built through a credit union. They're to report to the credit bureau just like the banks do. Credit unions are actually better than banks, because they can loan you money with LOWER interest rates than banks. Also if you set up a checking account with a credit union, their fees are also cheaper than banks. I use ASECU, and my car was financed at a 6% interest rate for 36 months, when I was 19 years old!! How many 19 year olds get loans, or loans with a 6% rate? I work at a bank, and finance everything through a credit union! That should tell you something! I hope this helps! Regions Bank Associate |
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