50, In 50, In 50…California!!!
Also known as “The Golden State” will be our next stop on our tour!
Trivia Questions:
What is the name of the worlds largest tree that is located in Sequoia National Park?
In what year was the internet invented?
California has the most registered cards in the USA…what state is second?
How much is the fine for molesting butterflies in Pacific Grove?
California Loveeeeeeeeeeee.
I mean there is literately everything here. From earthquakes to forest fires. From movie stars to superstar athletes. California is probably the most popular state we will cover on this journey. I mean literately one out of eight residents lives in the golden state. It’s huge. The Los Angeles metro area alone is almost 5 thousand square miles (in total the state is close to 164,000 square miles). It’s not cheap though, looking at a little more than half a million ticket on the average home side of things. The residents have taken care of business on the credit side however, improving by 8 points from 2019 to 2020 ending with 718. I could go on for a long time about what the state has to offer but let’s get to the credit unions (if anyone is currently a member of SchoolFirst CU let me know)!
Credit Unions:
Patelco Credit Union 7.95 Billion in Assets (https://www.patelco.org)
Eligibility: If out of state, just join FFA (Financial Fitness Association) and you’re in.
Perks
- Only personal right now, growing credit union. Talk of business accounts down the line.
- Offers secured card card as well, does not convert.
- One credit pull is good for 90 days
- Uses FICO version 9, deemphasizes student loan and medical debt
- Didn’t give me a max limit, says he has seen $25,000 and higher
- Email contact: jphillips@patelco.org (Branch Manager at down town San Francisco)
FirstTech Federal Credit Union 14.41 Billion in Assets (https://www.firsttechfed.com)
Eligibility: If out of state, just join FFA (Financial Fitness Association) and you’re in.
Perks
- Offers secured credit cards, personal, and business credit cards
- Secured converts to unsecured with responsible use
- Limit up to $100,000 on Odyssey Rewards!
- Pulls only from Experian
As you can see, a lot of credit unions only pull from one credit bureau. This definitely helps if you still want to hit the high limits and let’s say the other two credit bureaus are in duress.
Let us know in the comment section what else you would like to see added to these. Our next stop on our journey will be a surprise. We won’t be going in alphabetical order though. That’s no fun!
Answers:
- General Sherman, nearly 275 feet tall and 102 feet around.
- 1969
- Texas
- $500!!! Don’t touch the butterflies!
Disclaimer
Any research, reviews, analysis, or other information contained in this series is provided as general credit commentary, does not constitute investment advice, and may change from time to time. Carrying high limits on credit cards may not be suitable for all consumers. The high level of debt can work against you as well as in your favor. MatsuokaManagement LLC, its owner, employees, or affiliates assumes no liability for any loss or damage which may be suffered directly or indirectly from the use of or reliance on such information. We strongly encourage consultation with a credit union representative before applying for any products they offer.
Resources
https://www.cnbc.com/select/average-credit-score-by-state/
https://worldstrides.com/blog/2019/01/9-fun-facts-about-california/
https://www.pods.com/blog/2020/09/moving-to-california/
https://www.50states.com/facts/california.htm
