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Contributor
Posts: 268
Registered: ‎10-25-2012
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Joining NFCU soon..questions about CC's

I was reading through a bunch of NFCU posts but wanted to try and clarify some things. 

 

I learned today that I am eligible to apply for membership since my stepfather is a DOD civilian employee. woohoo! I'm waiting to apply until I pay off my 2 CC's and have them report (middle of may) in hopes of my score boosting a bit once my UTL is way down. I'll join once that happens lol. 

 

I want to app for a CC immediately upon opening an account. I will probably only be getting a savings account for now. I am wondering if only having a savings account and no checking with direct deposit will make it so they require income verification. I'm really trying to avoid that since I don't have physical pay stubs for income.

Anyone with only a Savings account have any info on this?  When applying for a CC did you need to provide any verification?

 

Since they HP for the membership and the CC, I should apply for the CC the same day as the membership correct?

 

Can you guys please explain the different cards? I don't know which one to app for. Are there different ones for different CL's or different FICO scores?

I am really hoping for a 5k or more limit, but not sure I will get it with my current scores. My EQ is now 693 and my TU showed 677 but that was before I paid off a CC. I'm hoping once I pay off my other two, it'll jump up to the 700 mark (my EQ anyway). I have no baddies, perfect payment history but only 1 year AAoA and a midrange income. My highest limit on my cards as of now is 2200. I'm really hoping for 5k with NFCU.

What do you think my chances are for that?

 

I have 8 inquries from last year. Will that have an affect on me being approved?


-------------------------------------------------------------------------------------------------
EQ 701, TU 685, EX ?
Wallet:
Amazon store $2500(10/12), Cap1 $1500 (10/12), Discover $1700 (11/1/12).
Moderator
Posts: 27,207
Registered: ‎09-13-2012
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Re: Joining NFCU soon..questions about CC's

NFCU is HP happy. 99% of the time they pull TU for membership and EQ for cc/loans. Also I don't think it matters if your deposits are dd- sometimes they ask sometimes they don't...the majority of approvals seem to be on asking.

Valued Member
Posts: 37
Registered: ‎10-13-2010
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Re: Joining NFCU soon..questions about CC's


 

Can you guys please explain the different cards? I don't know which one to app for. Are there different ones for different CL's or different FICO scores?

I am really hoping for a 5k or more limit, but not sure I will get it with my current scores. My EQ is now 693 and my TU showed 677 but that was before I paid off a CC. I'm hoping once I pay off my other two, it'll jump up to the 700 mark (my EQ anyway). I have no baddies, perfect payment history but only 1 year AAoA and a midrange income. My highest limit on my cards as of now is 2200. I'm really hoping for 5k with NFCU.

What do you think my chances are for that?

 

I have 8 inquries from last year. Will that have an affect on me being approved?


I was never sure about the differences between all the cards, but I chose to go after cashRewards because I don't travel enough to take advantage of the superior exchange rate of goRewards, and I don't think I spend enough to justify the AF of Flagship (plus I didn't think I'd qualify for a 5k CL anyway).   Anyway, I was approved for a $6k Visa Signature cashRewards card a week ago with an EQ score 125 points lower than yours, and a highest open CL of $750....well, actually, the highest open CL on my report was NFCU's own NavChek (Overdraft Line of Credit) at $2k, but the highest open CC was $750.  I have been putting direct deposits of my net pay in my checking account there for the last six months, which may be a factor.  I don't really know NFCU to be INQ sensitive, but then again, half of the hard pulls on my EQ report are from them (it took me three attempts to get approved for the cashRewards).


Starting Score: 461 (EQ 10/2012)
Current Score: EQ 622
Goal Score: 660


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Contributor
Posts: 268
Registered: ‎10-25-2012
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Re: Joining NFCU soon..questions about CC's

you were approved for 6k? Thats awesome!   It took 3 times for you to be approved???


-------------------------------------------------------------------------------------------------
EQ 701, TU 685, EX ?
Wallet:
Amazon store $2500(10/12), Cap1 $1500 (10/12), Discover $1700 (11/1/12).
Valued Contributor
Posts: 1,546
Registered: ‎08-30-2012
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Re: Joining NFCU soon..questions about CC's


Sitori wrote:

you were approved for 6k? Thats awesome!   It took 3 times for you to be approved???


With your scores, I would suspect something in the 10k-15k range, or more but as always, YMMV.

 

 


Starting Score: EQ 511 TU 552 EX 545 8/29/2012
Current Score: TU 712|EQ 695|EXP 723 (FICO)
Total credit $185,250; Util 14%
Goal Score: 700 across the board.
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Contributor
Posts: 268
Registered: ‎10-25-2012
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Re: Joining NFCU soon..questions about CC's

Ha! I will pass out if that happens!

Should I app for the cash rewards? I have the discover more which is why I was thinking I don't need another cash rewards, and was thinking about finding some sort of travel rewards/points type of card? Do they have one?

-------------------------------------------------------------------------------------------------
EQ 701, TU 685, EX ?
Wallet:
Amazon store $2500(10/12), Cap1 $1500 (10/12), Discover $1700 (11/1/12).
Valued Contributor
Posts: 1,546
Registered: ‎08-30-2012
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Re: Joining NFCU soon..questions about CC's

Their cash rewards card isn't bad. If your selected, they are piloting a more prestigous rewards program quarterly, such as Discover does.

 

 


Starting Score: EQ 511 TU 552 EX 545 8/29/2012
Current Score: TU 712|EQ 695|EXP 723 (FICO)
Total credit $185,250; Util 14%
Goal Score: 700 across the board.
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Valued Member
Posts: 37
Registered: ‎10-13-2010
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Re: Joining NFCU soon..questions about CC's

[ Edited ]

Sitori wrote:

you were approved for 6k? Thats awesome!   It took 3 times for you to be approved???


Yeah, 6k, which is a little under 10% of my gross income.  I first applied back in February almost as soon as I paid off my last outstanding delinquent account (Amex Zync collection that I'd been paying down monthly since August 2012) with my tax refund (waiting for the payment to be reported before applying, of course). 

 

2/19 (EQ 554) -- Declined cashRewards

3/2 (563) -- Approved NavChek ($2k -- that's what I asked for, not a counter-offer)

3/18 (563) -- Declined cashRewards

4/24 (568) -- Approved Signature cashRewards ($6k)

 

It might not have taken so many tries if I had bothered to try for recon. :smileylol:

 

The score in my sig is a bit different due to a recent dispute of a duplicate collection in my file (a $194 paid medical account from 2011 showed up twice).  I disputed both entries, and they removed both of them.  I fully expect to see it again within a month :smileytongue:


Starting Score: 461 (EQ 10/2012)
Current Score: EQ 622
Goal Score: 660


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Regular Contributor
Posts: 170
Registered: ‎03-25-2013
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Re: Joining NFCU soon..questions about CC's

hmm... jobber. I have the same fico score at least from Equifax (563) could you posssible tell us what you also have on your credit report? such as: any chargoffs, how many collections if any and what positive open accounts you may have. I just signed up for NFCU last week for a checking and savings account and have my direct deposit going there now. I would love to get a regular card instead of the secured but i'm nervous my past credit history might affect it.


Starting Score: 03/29/2013 540 EQ 05/01/2013 614 TU 05/30/2013 606 EX (Lender Pull)
Current Score: 07/27/2013 639 EQ 07/27/2013 651 TU98 07/27/2013 650 TU04 07/27/2013 617 EX V2 07/27/2013 639 EX 08
Goal Score: 660 EQ 660 TU 660 EX


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Contributor
Posts: 268
Registered: ‎10-25-2012
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Re: Joining NFCU soon..questions about CC's

Ok so income must have alot to do with it. Did you need to provide paystubs once you applied again the 3rd time? Did they need verification?

-------------------------------------------------------------------------------------------------
EQ 701, TU 685, EX ?
Wallet:
Amazon store $2500(10/12), Cap1 $1500 (10/12), Discover $1700 (11/1/12).
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