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Frequent Contributor
Posts: 414
Registered: ‎01-27-2012
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Re: NFCU CLI Insanity

Congrats and WOW!  Smiley Surprised

CL $257,600
Established Member
Posts: 20
Registered: ‎03-22-2010
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Re: NFCU CLI Insanity

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).



In the garden until they run out of veggie burgers.
Moderator Emeritus
Posts: 7,225
Registered: ‎09-16-2011
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Re: NFCU CLI Insanity

[ Edited ]

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


Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



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Senior Contributor
Posts: 7,495
Registered: ‎01-05-2013
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Re: NFCU CLI Insanity

Congrats on your CLIs!

New Contributor
Posts: 164
Registered: ‎04-16-2013
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Re: NFCU CLI Insanity


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!

 

 


Established Member
Posts: 20
Registered: ‎03-22-2010
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Re: NFCU CLI Insanity

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).  Smiley Happy



In the garden until they run out of veggie burgers.
Established Contributor
Posts: 502
Registered: ‎04-17-2013
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Re: NFCU CLI Insanity

Awesome CLI!


2010: 475 EQ 2011: 503 EQ 2012: 600 EQ2013:632 EQ
Starting Score: 634 EQ-3/13/13
Current Score: 706 EQ-8/29/13 703 EX-7/12/13 705 TU-8/9/13
Goal Score: 700

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Valued Contributor
Posts: 1,584
Registered: ‎11-10-2012
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Re: NFCU CLI Insanity

Congrats...great job!

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Contributor
Posts: 97
Registered: ‎01-14-2013
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Re: NFCU CLI Insanity

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!

Navy Siggy Cash Rewards 25K , Navy Flagship visa 17k Navy Check 15K, Navy Platnium Visa 7K, USAA Am Exp 11.5K, USAA MC Rate Advantage 11.5K, Discover IT 5.5K, PayPal Extras MC 5K, Chase Military Star MC 2.5K, Military Star 5.35k, Wallmart discover 2.5k, Amex bce 6k,Boa cash rewards 5k,Amazon Visa 500

current scores: TU 761 Equifax 773Exp 742
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Contributor
Posts: 135
Registered: ‎05-25-2013
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Re: NFCU CLI Insanity

Obviously you just need to apply for a 25k limit and see what they counter you at which is easier than doing small limits at a time..



Starting Score: 693
Current Score: 701EQ MyFico 725TU(NFCU pulled)
Goal Score: 720


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