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