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Frequent Contributor
Posts: 404
Registered: ‎06-11-2008
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Does NFCU look at scores or history?

I want to apply for a personal loan with NFCU I have good scores but short history depending on who they pull. EX has an old account from 1995.
Established Member
Posts: 34
Registered: ‎05-13-2009
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Re: Does NFCU look at scores or history?

I applied for NFCU with an AAoA of 5 months and got 10K GoRewards, 7.5K Cash Rewards, 10K NavCheck and a 3K Auto Loan.  I've been member for less than 6 months and don't make 6 figures.
Moderator Emerita
Posts: 3,091
Registered: ‎08-09-2008
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Re: Does NFCU look at scores or history?


mnegron1969 wrote:
I want to apply for a personal loan with NFCU I have good scores but short history depending on who they pull. EX has an old account from 1995.

First, NFCU pulls Equifax, unless it's a trimerge for a mortgage app. I don't know what criteria they use for personal loans, but I've read of people being "instantly" approved. Do you have regular deposits going into an NFCU account, via (perhaps) direct deposit or regular ACH transfers? Do you have an NFCU credit card? They seem to greatly value your internal history with them. And they really love you if you park your money with them.

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Established Member
Posts: 34
Registered: ‎05-13-2009
0

Re: Does NFCU look at scores or history?

I am sure all those things are true, however, and this is just my experience,  I had no relationship with NFCU at all, and I do not have Payroll direct deposit going there either.  In this and other forums, you can read about people who were faced with similar experiences.  As usual YMMV, but, at least in my case, there was no previous commitment.  With that in mind, NFCU is a very good banking institution and if there was a branch in my town I would transfer everything to them in a heartbeat.
Established Member
Posts: 34
Registered: ‎05-13-2009
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Re: Does NFCU look at scores or history?

Also, forgot to mention that they have pulled TU for me.  I had my EQ Frozen and forgot to thaw it before I applied for my last two products.  They automatically(well, without me having to ask) pulled TU, and processed my requests.  But they do initially always pull EQ.
Frequent Contributor
Posts: 404
Registered: ‎06-11-2008
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Re: Does NFCU look at scores or history?

Thanks for the responses. I opened up a savings with NFCU.

Based on my EQ 3-in-1 Score Watch credit report this is what it states:

 

inquiries in last 3 yrs- 3

recent acct opened-12/2009

oldest acct acct- 9/2007

length of credit 2 yrs 5 mos.

average acct age 10 months

Score 714 

 

I only have a mortgage, installment loan, walmart card, closed First Premier card & 2 closed Aaron accounts just recently paid. What are my chances?

Established Member
Posts: 34
Registered: ‎05-13-2009
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Re: Does NFCU look at scores or history?

[ Edited ]
When I opened mine, my oldest account was from 2008, my newest account was probably from a month earlier, and as I said before my AAoA was about 5 months.  My EQ FICO was 670, per myfico.  I am no expert, but compared to me, you look like a golden ticket.  I had 8 INQs at the time.  All recent.
Message Edited by mrancier on 02-26-2010 02:05 PM
Established Member
Posts: 34
Registered: ‎05-13-2009
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Re: Does NFCU look at scores or history?

One more thing :  None of my approvals were instant.  Not one of them.  Some people get instant, but reading in this and other forums, you will see that by and large they take a while to approve.  Sometimes quite a while, like several weeks (mine have usually been a week at the most).  Just letting you know, in case you apply and get the under review message, at NFCU that does not always mean declined.
Frequent Contributor
Posts: 404
Registered: ‎06-11-2008
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Re: Does NFCU look at scores or history?

thanks for that it makes me feel confident. I want to wait a bit because my friend who has good credit and old accounts is going to add me as a joint user on her Jcpenney card. I'm hoping that will give me a boost.
Member
Posts: 9
Registered: ‎02-10-2008
0

Re: Does NFCU look at scores or history?

If you want to wait for JcP that's fine, however, you are truly good as gold right now according to NFCU standards.  They are truly the best. Instant approval Flagship Visa 10k now 20k when my score was 650. Have added LOC 11k, nRewards 8500 and gotten CLI of 5k when I was 80% util on Flagship card.  I LUV hem the most!!  Godd luck.

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