50, In 50, In 50…Louisiana!!!

Also known as “The Pelican State” will be our next stop on our tour!

Trivia Questions:

Can you name three people who are famous that were born in Louisiana?

Louisiana’s capital building is the tallest in the United States. How many floors does this building have?

In what year, did the first opera in US history take place?

The Pelican State

LA actually finished 2020 with one of the highest overall credit score increases. A jump from 677 to 684 makes sense when you realize that Louisiana actually has seven cities in the top places to live in America. The melting pot has a median home value right around 170,000 (remember our credit underwriting hack from before). Combine home value with the plethora of food, variety of successful sports teams, great weather year-round, etc the home of jazz starts to look like a very attractive destination.

Credit Unions:

Jefferson Financial Federal Credit Union (https://www.jeffersonfinancial.org)

Eligibility: Lot’s of ways to join (https://www.jeffersonfinancial.org/membership)

Perks

• Offer both secured & unsecured credit cards
• Can apply for credit at 18
• Only pulls from TransUnion
• Limits as high as $50,000 for Visa Platinum CC
• Limits as high as $50,000 for Visa Business Platinum CC

Barksdale Federal Credit Union (https://www.bfcu.org/home/home)

Eligibility: Lot’s of ways to join (https://www.bfcu.org/home/join/benefits-of-membership/eligibility)

Perks

• Both Secured & Unsecured credit cards available
• 1.99% for the first 12 months on all of their CC’s
• Limit as high as $30,000 for Visa Platinum CC

Cons

• Lady I spoke with said they pull from all three…highly doubt this is true so needs to be stress tested.

Neighbors Federal Credit Union (https://www.neighborsfcu.org)

Eligibility: Lot’s of ways to join (https://www.neighborsfcu.org/how-to-join/)

Perks

• Pulls only from Equifax
• Limits as high as $20,000 on Elite
• Secured and Unsecured options

Cons

• Secured does not convert to unsecured

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:

1. Louis Armstrong, Lil Wayne, Ellen Degeneres, Terry Bradshaw, Randy Jackson, Karl Malone, Tyler Perry, Tim McGraw, Britney Spears, Reese Witherspoon, Peyton Manning, etc
2. 34
3. 1796

Disclaimer

Any research, reviews, analysis, or other information contained in this book 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://www.ducksters.com/geography/state.php?State=Louisiana

https://www.coolkidfacts.com/louisiana-facts/

https://www.greatguysmoving.com/moving-to/louisiana/