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Valued Member
shmacckk
Posts: 41
Registered: ‎01-16-2013
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Re: Can we have "OFFICIAL NFCU CLI - HOW IT WORKS!"


pizza1 wrote:
Just an FYI.....

Spoke with a loan officer today about a car refi( they denied me last week).

They pull TU for loans and refi, and also as long as a bankruptcy still shows on the credit report, it's an automatic denial just for that reason!! I asked the loan officer that since my bk was in may of this year, it will be on reports till 2023, does that mean I can never have a personal loan, car loan, or car refi with you for the next 10 years when it's off my reports??? Her answer."... I'm sorry, yes. That's Navy's policy. " :smileysad: I'm sooo bummed!!!! So there goes Any loans! I told her I have a a CC with them, and she said that the CC and loan departments are separate, and they both have very different lending practices and guidelines.

She also told me that yes they do pull TU for all personal loans and auto loans, and that you have to be higher than their lowest tier group, which she wouldn't tell me scores in that "lowest tier group". So, I guess having a CC with them is better than nothing, and hopefully ill get increases on it. :smileysad:

Navy has given me auto loans navcheck and credit cards and my bk is still on my reports so yea that info you got was false.

 

They also have pulled all three credit bureau at times for my applications.

Valued Contributor
pizza1
Posts: 1,843
Registered: ‎07-17-2013
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Re: Can we have "OFFICIAL NFCU CLI - HOW IT WORKS!"

@ Creditaddict.......

Believe me, I was shocked!! They pulled TU for my auto refi app, and it was only for a request of $10k! Got my denial letter in the mail and the first thing under that was bankruptcy:smileysad: I just didn't think that sounded right, so I called in to CS, and had them transfer me to the loan department, is which a preceded to ask her questions on my denial, and also when I could reapply.

As we were talking, she looked at my denial app, and said, "oh, you have a recent bankruptcy. That's an automatic denial when applying for loans", then she preceded to explain to me everything else as I mentioned above. My heart sank, and I literally had years in my eyes! Lol!!!

I asked her specifically if if was because my bk was recent and if I needed to wait a certain amount of time before reapplying, and she proceeded to tell me that I could apply, but it would be denied until the bk no longer showed . At that point I thanked her and got off the phone. I kept thinking to myself, there's got to be more to this!!! Surely there are people out there with navy that have loans AND have a bk showing!! I thought it might also have to do with the fact that I've only been a member for a few weeks.... She said no. I feel like sending a secured message about the call and hoping someone else gets it, and tells me differently! Lol
(BK7 d/c:08/19/13~FICO-400's)---> EQ 664,EX 650,TU 657
3 major cc/ 8 retail cc= $43,300 avail credit; plus a $15k LOC
Total revolving credit reporting is 1%
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Valued Contributor
starry1
Posts: 2,325
Registered: ‎11-29-2012
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Re: Can we have "OFFICIAL NFCU CLI - HOW IT WORKS!"


pizza1 wrote:
Just an FYI.....

Spoke with a loan officer today about a car refi( they denied me last week).

They pull TU for loans and refi, and also as long as a bankruptcy still shows on the credit report, it's an automatic denial just for that reason!! I asked the loan officer that since my bk was in may of this year, it will be on reports till 2023, does that mean I can never have a personal loan, car loan, or car refi with you for the next 10 years when it's off my reports??? Her answer."... I'm sorry, yes. That's Navy's policy. " :smileysad: I'm sooo bummed!!!! So there goes Any loans! I told her I have a a CC with them, and she said that the CC and loan departments are separate, and they both have very different lending practices and guidelines.

She also told me that yes they do pull TU for all personal loans and auto loans, and that you have to be higher than their lowest tier group, which she wouldn't tell me scores in that "lowest tier group". So, I guess having a CC with them is better than nothing, and hopefully ill get increases on it. :smileysad:

This is not true. My bk7 was discharged in Feb 2013 and navy refied my car in May 2013.

Starting Score: 11/29/12 TU 527; EQ 565; EX 564 fako - bk7 dc'd 2/15/13
Current Score: 12/22/14 TU 659; EQ 649; EX 658
Goal Score:  625 for now– New goal 675

Cap1 sec $1k (SD) / Fingerhut $2k / Flagship $12k / cashRewards $10k / NavChek $15k / Amazon $2k / Von Maur $1k / Firestone $2.2k / BCU $3k / NFL $1k / QS1 $500 / Target $400 / PPSC $800 / Texaco $400 (last app 09/29/14)
Valued Contributor
pizza1
Posts: 1,843
Registered: ‎07-17-2013
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Re: Can we have "OFFICIAL NFCU CLI - HOW IT WORKS!"

@ Scmacckk.... And Starry1

Really???, I am sooo relieved to hear that there are people out there who have gotten loans and refi with them WITH their bK showing still!! That lady I spoke with acted like she couldn't believe I applied with a bk! She made me feel like **bleep** really. Everyone else I've talked to at Navy has been pleasant, and sooooo nice!!!! I've have a great experience so far, except for today when the loan rep told me all that. Is was a bit disheartening, but I'm very relieved to know that it is NOT the case and people are loans with them with bk. maybe is was also due to only being a member for 2 weeks??? Idk, but I'm gonna garden my NRewards CC with them for 6 mo, hit the luv button and see what happens. I might at that point reapply again for a car refi and see if it's a different outcome. My letter stated the pulled TU, and was a 585. See if cant get TU score up to 620 at least by may and try again???
(BK7 d/c:08/19/13~FICO-400's)---> EQ 664,EX 650,TU 657
3 major cc/ 8 retail cc= $43,300 avail credit; plus a $15k LOC
Total revolving credit reporting is 1%
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Valued Contributor
starry1
Posts: 2,325
Registered: ‎11-29-2012
0

Re: Can we have "OFFICIAL NFCU CLI - HOW IT WORKS!"

[ Edited ]

If I remember correctly, my score was about 640 when I refied. Is everything on your report showing $0 IIB? If it isn't, you really need to work on that first. Your score is kinda low, so I think you have stuff not reporting right. I think you just got ahold of a had rep, I guess even navy has to have one. If I were you I'd call back and try to get another csr.


Starting Score: 11/29/12 TU 527; EQ 565; EX 564 fako - bk7 dc'd 2/15/13
Current Score: 12/22/14 TU 659; EQ 649; EX 658
Goal Score:  625 for now– New goal 675

Cap1 sec $1k (SD) / Fingerhut $2k / Flagship $12k / cashRewards $10k / NavChek $15k / Amazon $2k / Von Maur $1k / Firestone $2.2k / BCU $3k / NFL $1k / QS1 $500 / Target $400 / PPSC $800 / Texaco $400 (last app 09/29/14)
Valued Contributor
pizza1
Posts: 1,843
Registered: ‎07-17-2013
0

Re: Can we have "OFFICIAL NFCU CLI - HOW IT WORKS!"

Starry1.... Yes, I am showing 2 in "collections" that were IIB, and I'm disputing that now. But for the most part yes, there is also a paid tax lien showing in public record. I told them I could explain that. Anyway... My EQ was 653 and TU was 585 at the time of pull. I'm gonna just sit back and garden the CC for 6 months and reapply and hope I get someone different in the loan department, lol!! But I am relieved to know that that's not their policy all the time and they do extend loans. I make ok money 60k, only owe 10k on my car(put 10k down) and its a 2012 . So not upside down on the loan either! Ill try again in 6 months
(BK7 d/c:08/19/13~FICO-400's)---> EQ 664,EX 650,TU 657
3 major cc/ 8 retail cc= $43,300 avail credit; plus a $15k LOC
Total revolving credit reporting is 1%
New Member
bekgisa
Posts: 3
Registered: ‎03-25-2008
0

Re: Can we have "OFFICIAL NFCU CLI - HOW IT WORKS!"

Update~

 

I guess I was the exception (instant approval yet HP). I received a HP on my EQ report dated 10-21 pulled by NFCU. -bummer-

Oh-well~ I did receive instant approvals for both so I'm still grateful~.

Epic Contributor
Creditaddict
Posts: 22,116
Registered: ‎10-23-2007
0

Re: Can we have "OFFICIAL NFCU CLI - HOW IT WORKS!"


bekgisa wrote:

Update~

 

I guess I was the exception (instant approval yet HP). I received a HP on my EQ report dated 10-21 pulled by NFCU. -bummer-

Oh-well~ I did receive instant approvals for both so I'm still grateful~.


To be fair, you did ask for $40k... As we previously knew ANYTHING over $25k resulted in HP and manual review... so you did update that thought that it can be instant still possibly but it was a hp.

Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:
Regular Contributor
KoolDev
Posts: 230
Registered: ‎09-26-2013
0

Re: Can we have "OFFICIAL NFCU CLI - HOW IT WORKS!"

I like NCFU but had an experience with a loan officer or so she called herself that left me dissapointed.   I was looking into their rates for Travel Trailers.  She told me that it was considered a collateral loan and the terms were 8.5% and 60 months.   I said no, it is not a traditional collateral loan.  She said yes it is, it has a title.  I said so does a boat and a motorcyle.  I asked her what scores were needed, she didnt know.  Where do you pull the reports from, she didnt know.  Then tells me the score doesnt matter but the report does. 

 

By this time i was grinding my teeth.  I said look, Marine Federal and First First Flight FCU  both beat you out the door by 2% have terms up to 144 months and require a 700 or above.  Why is that I asked, she said she didnt know and admitted to being a "junior" loan officer.  I had requested a loan officer and no one else TWICE. 

 

Sorry I guess that was a vent more than anything.  I will tell you this though.  The CSRs rotate in the office.  Loan officers generally have individual offices.   I guess they considered taking care of the customer to be getting them in and out.   I have not given up on them yet.  One more opportunity in December when I refi a car loan and two others.

 

they did give me a 17.5k Visa Sig card tho :smileyhappy:

My Sock Drawer: Care Credit $4200-0, JCP 2100-0, Chase 3000-0, Chase Freedom $4500.00-0, WF $1000.00-0.00
In Use: NFCU Visa Sig $17.5k- 0.00k
I still have too MANY CARDS
Starting Score 538
Current Score Oct 30-14 701 fico Eq-- 745 Fico Tu-- 713 Fico Ex
Valued Contributor
pizza1
Posts: 1,843
Registered: ‎07-17-2013
0

Re: Can we have "OFFICIAL NFCU CLI - HOW IT WORKS!"

Re: Can we have "OFFICIAL NFCU CLI - HOW IT WORKS!" [ New ]
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‎10-22-2013 10:00 AM

I like NCFU but had an experience with a loan officer or so she called herself that left me dissapointed. I was looking into their rates for Travel Trailers. She told me that it was considered a collateral loan and the terms were 8.5% and 60 months. I said no, it is not a traditional collateral loan. She said yes it is, it has a title. I said so does a boat and a motorcyle. I asked her what scores were needed, she didnt know. Where do you pull the reports from, she didnt know. Then tells me the score doesnt matter but the report does.

By this time i was grinding my teeth. I said look, Marine Federal and First First Flight FCU both beat you out the door by 2% have terms up to 144 months and require a 700 or above. Why is that I asked, she said she didnt know and admitted to being a "junior" loan officer. I had requested a loan officer and no one else TWICE.

Sorry I guess that was a vent more than anything. I will tell you this though. The CSRs rotate in the office. Loan officers generally have individual offices. I guess they considered taking care of the customer to be getting them in and out. I have not given up on them yet. One more opportunity in December when I refi a car loan and two others.

they did give me a 17.5k Visa Sig card tho
Starting Score: 630
Current Score: 681
Goal Score: 700

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Kooldev. Sounds like we got the same loan officer! Lol!!! Regardless of my experience, I still live Navy and they did give me an unsecured nRewards card with $500 CL. I'm also 2 months post bk 7 and they usually make someone like me get a secured card first for awhile, so can't complain! I'm gonna try again for a car refi in 6 months after some history with them. I'm gonna ask for a senior loan officer next time:smileyhappy: congrats on your card though!!!
(BK7 d/c:08/19/13~FICO-400's)---> EQ 664,EX 650,TU 657
3 major cc/ 8 retail cc= $43,300 avail credit; plus a $15k LOC
Total revolving credit reporting is 1%

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