NFCU Visa and BCLOC Approval

[mattmyFIC0]

I applied for a business checking/saving in June of this year after getting in on the personal side in May via the Navy League method. Finally got around to applying for the Business Visa and the BCLOC yesterday.

You have to request a paper application from your assigned rep and then you can send it back to them and they forward to UW to process. Anyway, emailed it yesterday around 7am and around 3pm received a HP on TU. Nothing showed up online in my account but I figured it would take a few days if I got approved.

Today I received a call from my rep telling me I was approved for both and for the limits I requested! I had heard their business UW was a bit tougher than personal so I'm pretty excited here

Stats: single TU inq, 21 inq total on TU now, 750 TU FICO 8, lots of new accounts.

[Anonymous]

Did you have to show NFCU your last two years tax returns for POI?

What limits did you get on the business CC and BLOC?

Did you have any personal CC's or the NavCheck product already with NFCU?

[mattmyFIC0]

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@Anonymous wrote:

Did you have to show NFCU your last two years tax returns for POI?

What limits did you get on the business CC and BLOC?

Did you have any personal CC's or the NavCheck product already with NFCU?

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No. they only require personal financial statement for requests over 25K

I asked for 10K (9.9 APR) on the card and 15K on BCLOC

I have two personal CC and a personal CLOC

From what I understand the business products and UW are done separately and don't affect each other. I could be wrong on that though but it's what I've gathered from different threads about it.

[Anonymous]

That's good to know since our profiles and start date with NFCU are similar. I joined in June and you in May of this year. I have one CC for the instant MAX and applying for PLOC in a few weeks and then a second CC on 12/24 (6 month anniversary with them).

Will look at business CC and BLOC in mid-2017.

Are both the CC/BLOC true business lines and totally HIDDEN tradelines on all credit reports? Did you only have to give them a EIN# or is it SS# based like on the personal side?

[mattmyFIC0]

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@Anonymous wrote:
That's good to know since our profiles and start date with NFCU are similar. I joined in June and you in May of this year. I have one CC for the instant MAX and applying for PLOC in a few weeks and then a second CC on 12/24 (6 month anniversary with them).

Will look at business CC and BLOC in mid-2017.

Are both the CC/BLOC true business lines and totally HIDDEN tradelines on all credit reports? Did you only have to give them a EIN# or is it SS# based like on the personal side?

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I believe they are not reported on personal reports. I gave them EIN and SS#. These lines are PG but that's fine with me since the rest of my business lines are as well.

I apped my 2nd personal cc after the first was three statements old and got instant approval for 5K. My first personal card was instant 25K.

[Anonymous]

Did you get the full $15K PLOC I assume? Was it instant or POI needed?

**bleep**, only $5K on the second card?

I'm hoping for at least $10K on the second card.

Do you remember what was your UTI and TU score were when you applied for the second personal credit card?

[mattmyFIC0]

I would have if I'd have asked for it. Initially I asked for 10K and then did a CLI later for the additional 5K.

Yeah I was a bit disappointed at the SL on card #2 but I think I can grow the limit. It made the bonus spend annoying.

I keep my UTI at 1%. TU FICO 8 stays around 750 +/- a few points.

[Anonymous]

Thanks

[mattmyFIC0]

Just wanted to note a few more things that came up...

There is a $50 doc fee which will be debited from your account upon them receiving the docs back from you.

There is a $50 annual fee which will be debited from your account upon them receiving the docs back from you.

My docs were emailed to me and then had to be signed and notarized before being sent back back to my NFCU rep via fedex overnight.

I was told my new card and BCLOC will show up in my account after signed docs are received.

[Anonymous]

You got $15,000 - correct? I didn't know if that was the maximum with BCLOC or just the max on the personal side. I'd imagine you can probably amass a rather large amount on the business side.