No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Congrats and WOW!
I've done a refi with them before, it's how I got out of that 23.5% APR. I stayed with that rate for 2 years (from the dealer, yeah I was young and it was my first car) and then refi'd with them for 4.5%. I can't refi with them as I'm free and clear on my title (I use a 36mo term with them instead of the 60 i had before).
@DontEatMyFriends wrote:I've done a refi with them before, it's how I got out of that 23.5% APR. I stayed with that rate for 2 years (from the dealer, yeah I was young and it was my first car) and then refi'd with them for 4.5%. I can't refi with them as I'm free and clear on my title (I use a 36mo term with them instead of the 60 i had before).
NFCU does have amazing rates right now on new cars... You can call and get a pre-approval and then go car shopping to see if there is anything out there that you want... With their auto loan process, you have 60 days to decide on whether to actually purchase a new car or not...
I used my NFCU new car loan to order a new Volvo using the overseas delivery program. It was very nice and NFCU is very hassle free
Also, let it be said that my NFCU rate of 1.79 was better than the dealerships "incentive" financing of 2.9% through US Bank
Congrats on your CLIs!
@DontEatMyFriends wrote:So today I decided to do my first round of CLI's with NFCU. I was amazed at the results.
Background Info:
- I've been with them for about 25 years, though I've only actively held accounts for about 4 years. (granddad opened an account for me when I was 8)
- current debt/credit ration is 7%
- started with bad credit 6 years ago and got an auto loan at a stupidly crazy APR to build credit (23.5%, and I don't recommend this method).
- Have NEVER (yes I do mean never) missed a payment on anything. If I didn't have enough money for a bill, I'd hop on a certain site and look in the gigs section (computers section mostly) to find side work.
- Realized that I hate having to find side work all the time (in addition to my F/T job), and started saying no to myself and others. (this cut down on spending enough to stop living check to check).
- AAoA is 2.6 years
Limits before CLIs:
- MC Platinum - 2k
- nRewards Visa 12k
- NAVCheck LOC - 500
EQ FICO 716
Limits After CLIs:
- MC Platinum 15k
- NRewards Visa 22k
- NAVCheck LOC 15k (their maximum)
Things which were done prior to CLI request (the previous day):
- Updated my income with them (got a 5k salary increase from last years update, so no huge changes).
- Updated job title with them as well since I got a promotion in December, and have "Manager" in my title now. (emailed them a business card. I normally do this when I change jobs or get a promotion so they spell everything correctly)
- Made sure they had the correct amount of time with my current employer (3.5 years)
What I believe was looked at by NFCU for the decisions:
- Job Title and time at employer. I've yet to receive an auto cli increase from NFCU with my previous job title, but when I updated all of the info on the phone with the rep I was asked if I wanted to apply for a CLI on one of my accounts (this was before I updated my salary info). This leads me to believe that they actually factor this info in to their decision making formula.
- Salary. This is obvious, though I have yet to fully understand their formulas for this.
- Credit Score. They did pull this for the NavCheck. I did that one first online, and it took a few hours for them to approve. The other two were instant decisions over the phone (assuming they used the previously pulled scores).
Can anyone confirm my theories?
Very nice! Congrats!
Well now it's time to go to the garden until I reach another tax bracket, get "Director" in my title (next step up), or need another car (I thought about it last night, and even though their rates are great now, I have a want for another car not a need).
Awesome CLI!
Well you guys made me do it--I have been reading about all these cli's using the luv button and I dove in again--but first a message from our sponsor--currently have NCR with a 30K limit and Navy check with 15K limit--have a Visa platinum with a 500 limit (transferred almost all my limit from this card to NCR due to a 9.65apr vs. 16.9 on this one.
I was under the assumption that I had reached my Threshold with credit with them (45.5K)--wrong! Hit the luv button on my 500 dollar card yesterday at 8am and asked for 1500--instant---hit the luv button again at 9am for 3000--instant---hit the luv button again at 1pm for 5000--instant--stopped their since I hit 50K with them--yes I will probably hit it again today!