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@Anonymous wrote:
How long after opening a new NFCU checking account can I apply for a credit card?
Within seconds
What about CH13 BK? Are the guidelines different?
Leonel9 thank you for the criteria you gave for being approved for a NFCU CC after BK. Does this also apply to those of us who have a CH13 BK discharged? I meet all the criteria you list (except mine was a CH13 BK), but I was denied an app for the cashReward card and denied on recon. I am 10 1/2 months post DC (almost 6 years since filing).
I also called to discuss the criteria with a rep and was told that it was her understanding that they are looking for 2 years post DC. (The rep I talked to did not know whether I had a CH7 or 13, she just said 2 years post DC). If that’s true, then from a CH13 perspective, it’s no different than having to wait for the BK to fall off your report.
Leonel9 I need to add that the only reason given for denial in both cases was BK.
@TXBlueBonnet It's my understanding that the guidelines are the same for CH13 vs. CH7 (1 year post D/C for an unsecured card), but I can confirm that tomorrow morning.
Wife and I each applied for NFCU $500 secured cards just 1 week post DC. Both approved immediately with 2 MyFICO scores in the low 600's, TU was actually still in the high 500's. We had just joined about a month prior to getting our DC and do not direct deposit or keep more than just a few hundred in there. There is no one year wait for Unsecured as long as the DC is reporting and you don't have lingering baddies. We also got secured Discovers and unsecured Cap One's the first week after DC. Now just lightly charging and paying off in full and letting time do it's thing. Good luck!
So a few thoughts:
As far as an unsecured card denial, a 180-day past due account would certainly have an impact on your credit score. The denial letter will detail what the reason for denial is. Be sure to review this.
As far as the secured card denial goes, generally the only way a new member would get denied for a secured card is by having a bankruptcy that is not reporting as discharged, or by having an excessive debt-to-income ratio. Do you know if either apply to you? Again, the denial letter will provide an explanation.
For the new member referral, the $50 bonus only applies to the person making the referral, not the new member. And the referrer only gets the bonus if the new member does one of four things: