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NFCU has shown me massive love,
I have gotten everything I asked for from them,
CLOC 15K best interest rate, Platnium instant aprroval 24K best interst rate SP only, SP to 25K after 91 days.
Although not highest SL, I have a long postive history with USAA.
YMMV.
I have Penfed AND Nasa :/
NFCU has been very generous to me. I think they look for low utilization and of course on time payments.
I have to say that Navy Federal is a financial institution that I find way too scary to do business with. I see the crazy high limits posted for people with average income and low credit scores, along with some of the BK hits posted on them around here - and I wonder how they pass their Federal audits. I think they are at a high risk of insolvency, based on what I have seen. They need to tighten up a whole lot, and do some balance chasing on some folks. Just my thoughts.
@kilroy8 wrote:I have to say that Navy Federal is a financial institution that I find way too scary to do business with. I see the crazy high limits posted for people with average income and low credit scores, along with some of the BK hits posted on them around here - and I wonder how they pass their Federal audits. I think they are at a high risk of insolvency, based on what I have seen. They need to tighten up a whole lot, and do some balance chasing on some folks. Just my thoughts.
NFCU is the largest credit union in the country and has over $82 billion in assets. I think you don't have much to worry about them becoming insolvent.
@AverageJoesCredit wrote:
Big limits dont necessarily have to only go to those with high incomes imo. I often see many who have gone bk come from backgrounds with high income. In my humble opinion its how anyone manages the credit they are given responsibly that can often be rewarded with a higher limit. Sure i know high income is great and i wish i could have it but i for one am glad to see Navy give the opportunities to us lower income earners and those whove made mistakes. In the end, we hang our own noose if we dont pay
I am glad that they are able to help everyone, I just don't understand how they can manage it. The Federal Insurance people look at what these places are doing and if they are taking too much risk, they get reigned in. I saw one person on here just yesterday who is burning banks for $100K, and $40K to Navy as one of the victims. They didn't lose their job or have a crisis, they just overextended and decided to cut their losses. I know they can't make more than $80K a year or so because if they did, Chapter 7 would be off the table. Giving so much unsecured credit to someone like that is just setting them up for failure.
@kilroy8 wrote:I have to say that Navy Federal is a financial institution that I find way too scary to do business with. I see the crazy high limits posted for people with average income and low credit scores, along with some of the BK hits posted on them around here - and I wonder how they pass their Federal audits. I think they are at a high risk of insolvency, based on what I have seen. They need to tighten up a whole lot, and do some balance chasing on some folks. Just my thoughts.
How many times has NFCU declined you?