02-13-2009 10:23 AM
Pardon my language, but NFCU is the %#%&ing #%#!!!!!! They recently approved me for my first unsecured card in almost nine years and gave me an nRewards with a $17,500 CL. I was also approved for overdraft protection and got a NavChek for $5,000. This is the first time I've ever had OP in my life after having checking accounts for over 15 years. I won't even say how much money I have lost over the years in overdrafts to BoA as nobody would believe me (hard times after my wife got fired and was also in college).
I guess they really liked what they saw being direct deposited into my account every week since I joined. Now I want to move my wife's auto loan over to NFCU to give them the business. Since they believe so much in me, I'm going to try and give them all the business I can.
They also have two banking locations within one mile of me and with their ATM partners I now have more ATMs to pick from than I did with my last bank. They even have one in the building where my wife works!
02-13-2009 02:48 PM
02-13-2009 02:57 PM
IMHO, I don't think they would go to the trouble of asking you to send paystubs if you weren't going to be approved. They didn't ask me for any since my wife and I have had our direct deposits every week added to the account for the past couple of months.
My sister works on an army base as a federal employee (although not military) and we were able to join through her. She doesn't even have the slightest idea how much easier she's made my wife and I's lives since we were able to join, even though I've told her a little bit.
My wife hasn't had her name on a checking account / check card in over 3 years. Because of NFCU are names are both on the account and my wife can walk into the bank to make transactions, write checks or use a check card to make purchases, instead of having to take out cash for everything she bought.
My wife has an auto loan that's around 15%. We would like to move it over as well. (fingers crossed!)
02-15-2009 05:09 AM
Super Congrats to iltph and suburbherb
for your credit card approvals. Navy Fed
is definitely the best!!!
You're gonna love the nRewards card. We have
both the Mastercard and Visa and use them just
about every day. The points add up fast, so make
sure you stay on top of them. We redeem our points
mostly to get gift cards for restaurants and gas. Why
spend new money when you can make dollars you've
already spent work harder for you??? It's a great deal...
Navy Fed also has good rates for auto loans. As long
as the loan balance doesn't exceed the value of the car,
there shouldn't be a problem moving the loan to Navy Fed.
Once again, Congratulations on the new cards. Enjoy!!!
"The right attitude is everything"
02-15-2009 11:07 AM - edited 02-16-2009 07:07 PM
I just opened a savings account with Navy Federal.
Also submitted a Visa Application.
I will let you know what happens. They said 3-5 days.
02-15-2009 12:46 PM
When you go to refinance the auto loan- check out the bi-weekly option. It will shave month off the loan and drop the real interest paid.
I've had a nrewards secured card- for almost 8 months- it goes unsecured soon- I pay in full everymonth and use it alot- I've racked up over 5,000 points and haven't paid a penny in interest.
They also gave me a $5,000 navcheck line of credit. I haven't used it- but its nice to have as an emergency backup. I'm hoping to get a homeloan in the next few months so I'm not applying for anything else yet. Once I either get the mortgage or not- I want to see what happens with the secured card- if they will give me a CLI?
I wish I could do a NFCU mortgage- by I think I'm going the USDA route- they don't do USDA loans.
02-15-2009 12:49 PM
02-15-2009 02:23 PM
USDA- us department of agriculture. They have two types- ldirect loan, and guarenteed loan They both have income restrictions.
Direct is for very low income-usda lends directly to the borrower.
Guarenteed- low to moderate incomes- you borrow from a lender, and USDA guareentees the loan- unlike FHA loans- you are not required to have mortgage insurance- they can also finance 102% of the home value. (Closing costs can be included in loan)
You are required to buy a house in a 'rural' area , as defined by USDA. I am fortunate that my whole county is defined as rural. There is also a limit in the upper price of the house.
02-17-2009 01:00 PM
WOW!!! I was approved again today for my auto loan....I went from a 19% rate to 9% on 60 months....not quite the 6% I was looking for, but it saves me at least $90 per month on the note., not to mention rate over the life of the loan. As long as your payoff is not 125% over the current value, they can get you done. Sweet!!!! I'm so happy. I'm set now....Thanks to everyone who has had a hand in helping me get control over my finances. It's been a complete 180....I went from a 500 EQ score in FEB 08' to a 720 in Sept 09' Currently Im at 661 beacuse of heavy usage on all the cards I picked up. Thanks to the Fourms... you rock!!
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