NFCU after bankruptcy

[softballgirl29]

I was discharged from CH7 bk in May 2012. I have been steadily working to increase my scores and have 5 credit cards total, Cap 1 Plat, Cap 1 Rewards, Credit One Bank, Express and Victoria Secret. I recently (within the last month) opened an account with NFCU and have heard such great things about their credit cards but am nervous about applying. 1.) What is the card they offer that I would most likely be able to get after bk? I know some people have different results with NRewards vs. Cash Rewards. Wondering what your experience is with approvals and denials. 2.) Should I wait a certain period of time to show my account established before applying? I really appreciate all your advice, thanks in advance!

[grassfeeder]

I had success with NFCU cash rewards after my Ch 7.  As long as your history post BK has been solid, you should have no issues.

[SoulMaster]

Your scores are really low considering you're 16 months post-discharge.  Are you carrying balances on those cards you have?  Since you paid off your Auto Loan have you opened a credit builder loan yet to have a "mix of credit".  You should also goodwill Chase to have them remove the lates you had prior to the BK.

Have you read the 7 to 700 thread yet? Because you're fairly far off base.

Navy absolutely rules post-BK, but if I were you I'd get whatever's causing your score to be so low fixed before I apped for anything.  16 months post, you should be at a 650, minimum; 675 average.  As I was fixing whatever was keeping my score low, I'd also close the Express and VS cards, store cards are for suckers.  

My last guess is that your C1 cards (both of them) are < 6mo old, because those limits seem to be pre-"credit steps" auto-cli's.

I apped for the Navy Flagship and Navcheck at 18 months post discharge.  After sending in a bunch of supporting documentation, they were both approved w/ $5K limits.  14mo later, my Flagship sits at $22K.  Of course, I app'd w/ 670 FICOs and I'm around 710 now (BECAUSE I FOLLOWED THE PLAN! )

-SM

ETA: It's possible your scores are higher, if they are, please update your Siggy!

[softballgirl29]

I have followed the plan since my discharge. My scores were much higher (slightly over 650) until an incident last month where a collection company put three collections that were already on my report and previously included in my BK back on my report. After contacting them, they agree that it is their error and are removing; however, it dropped my score significantly and until they are finally removed (which they told me takes 30-45days) I am stuck where I am. Also, I have contacted Chase several times attempting to get the lates removed but to no avail. They sent me a letter back stating that they could not remove the lates as they are required to accurately report. My plan is to wait until the collection accounts have been removed and then apply for NFCU's card. Since my BK, I have had absolutely no late payments and my reports are as clean as they can be for now.

[CeeJay19]

I Was discharged last week december 2nd and ive been approved for navy federal nrewards $500 limit they pulled EQ

[Scupra]

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@CeeJay19 wrote:

I Was discharged last week december 2nd and ive been approved for navy federal nrewards $500 limit they pulled EQ

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Great job CeeJay! Treat them right and they will def reward you for it.

[Justrebuilding]

My bk7 was discharged in 2008. I applied and was approved for the cash rewards card in June. Started with a $2500 credit limit, now up to $10k. I also have a NavCheck LOC with them. Love NFCU!!

[Phoenixrising28]

Congrats on that! Did you already have a long history or direct deposit with NFCU when you applied?

[mszuki1000]

@SoulMaster

My scores are EQ 678 ....EX 679.... TU 705.... My Discharge 3/2011......

My question to you or whomever wants to answer is: I would love to get into NFCU BUT...... Would I have to know someone or have a relative thats already a member. I know I am definately missing out on the NFCU thing because it seems to be the best thing going!!!!!

Cap 1 QS $1000....... Cap 1 $2000.... Orchard Bank (now Cap 1) $400.....  Barclays $1400..... Credit One $700.....  Amazon $700..... Fingerhut $1000..... GFCU $500

[Scupra]

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@mszuki1000 wrote:

@SoulMaster

My scores are EQ 678 ....EX 679.... TU 705.... My Discharge 3/2011......

My question to you or whomever wants to answer is: I would love to get into NFCU BUT...... Would I have to know someone or have a relative thats already a member. I know I am definately missing out on the NFCU thing because it seems to be the best thing going!!!!!

Cap 1 QS $1000....... Cap 1 $2000.... Orchard Bank (now Cap 1) $400.....  Barclays $1400..... Credit One $700.....  Amazon $700..... Fingerhut $1000..... GFCU $500

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Here is a link that will help you determine if you can get in with Navy..

https://www.navyfederal.org/how-to-become-a-member/how-to-become-a-member.php

You can always call NFCU and ask as well, some of the best customer service around and a pleasure to deal with. Hopefully you can get in! Good luck