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Joining NFCU

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j_casteel
Valued Contributor

Re: Joining NFCU

If you don't qualify, then you don't qualify.

 

good luck

Learning from my past and rebuilding..

BK discharged 1/10/17
scores: EQ 659 | TU 630 | EX 659

QS 3.8K | WF 500 | Cabela's 3k | ACU 500 |

Message 11 of 22
Revelate
Moderator Emeritus

Re: Joining NFCU


@370Z wrote:

@Sooners2013 wrote:

Marry someone that is a member or that qualifies. Smiley Happy 


Or join the military. Their credit card offering is very unappealing though.


It's all about the limit yo! Smiley Happy

 

The fuss that NFCU engenders is a little silly but they admittedly are a shortcut to higher quality credit and loan offers in terms of time domain than the traditional route.  While their 5K or 10K tradelines generally don't compare in value to mainstream cards, even I can sort of understand the emotional appeal of getting one's first higher limit card when everything else is stuck in the $500-2K range.

 

Instant gratificatino cutlure and all that: I'm pretty patient in general but when Amex kicked my BCP to 9K and my "best" tradeline from a credit limit perspective was $2500 from an old graduated BOFA secured card, I was pleasantly tickled pink.

 




        
Message 12 of 22
CreditExpressNJ
Established Contributor

Re: Joining NFCU


@Revelate wrote:

@370Z wrote:

@Sooners2013 wrote:

Marry someone that is a member or that qualifies. Smiley Happy 


Or join the military. Their credit card offering is very unappealing though.


It's all about the limit yo! Smiley Happy

 

The fuss that NFCU engenders is a little silly but they admittedly are a shortcut to higher quality credit and loan offers in terms of time domain than the traditional route.  While their 5K or 10K tradelines generally don't compare in value to mainstream cards, even I can sort of understand the emotional appeal of getting one's first higher limit card when everything else is stuck in the $500-2K range.

 

Instant gratificatino cutlure and all that: I'm pretty patient in general but when Amex kicked my BCP to 9K and my "best" tradeline from a credit limit perspective was $2500 from an old graduated BOFA secured card, I was pleasantly tickled pink.

 


My actual reason for doing it is NavCheck i need a 7K loan immediately and i dont wanna put it on a credit card see what i'm trying to do is to buy my leased vehicle out but no finance companies are willing to finance the buyout price so i need 7K to put down while the offer is still there with my current credit union so i can buy it out because i am all types of screwed...I'm over mileage and a bunch of other things and i am sick and tired of paying $656 a month i've done it over a year and half now....So this is really a hit or miss with me because I've tried all other places for Personal Loans and none will do it once they hear what its for... Not sure why. I just know i will never put myself in this predictament again.... See long story short i traded an upside down car loan in for this car but at the sametime when i heard $656 i said no but the salesmen was good at what he does smoothed me over by breaking it down into daily prices which approx is $20 as he was saying to me and with all that conversation he made me convince myself that i wouldnt mind paying for this car..... Which in fact i did afterwards.....AND THEN ITS A LEASE .......AND NEXT ITS A FRICKEN 2013 HONDA ACCORD LX-S Coupe ..... Everytime i tell someone this story in person they say what you have a BMW, Mercedes, Porsche, Audi or something but then i have to say NO its a HONDA ACCORD and they look give me a blank stare..... and say WOW

CH7 Filed (3/29/17) - 483 EX 516 EQ 517 TU Discharged (5/31/17) - 559 EX 538 EQ 501 TU Current (1/18/22) - 690 EX 683 EQ 671 TU
Current Cards

Message 13 of 22
Revelate
Moderator Emeritus

Re: Joining NFCU


@shaun2009 wrote:

@Revelate wrote:

@370Z wrote:

@Sooners2013 wrote:

Marry someone that is a member or that qualifies. Smiley Happy 


Or join the military. Their credit card offering is very unappealing though.


It's all about the limit yo! Smiley Happy

 

The fuss that NFCU engenders is a little silly but they admittedly are a shortcut to higher quality credit and loan offers in terms of time domain than the traditional route.  While their 5K or 10K tradelines generally don't compare in value to mainstream cards, even I can sort of understand the emotional appeal of getting one's first higher limit card when everything else is stuck in the $500-2K range.

 

Instant gratificatino cutlure and all that: I'm pretty patient in general but when Amex kicked my BCP to 9K and my "best" tradeline from a credit limit perspective was $2500 from an old graduated BOFA secured card, I was pleasantly tickled pink.

 


My actual reason for doing it is NavCheck i need a 7K loan immediately and i dont wanna put it on a credit card see what i'm trying to do is to buy my leased vehicle out but no finance companies are willing to finance the buyout price so i need 7K to put down while the offer is still there with my current credit union so i can buy it out because i am all types of screwed...I'm over mileage and a bunch of other things and i am sick and tired of paying $656 a month i've done it over a year and half now....


Yeah, I was replying to the other user specifically: NavCheck is one of those time-domain shortcuts that I was referring to.

 

Don't get me wrong, if I was qualified for NFCU I would immediably get membership, and this was especially true 2ish years ago now; however, I'm starting to get good options for other things and if I had a cash shortfall and was stuck in your position I'd likely just go the P2P lending route.  Not certain I'd ever use their credit cards personally given the rewards structure with my current lineup but their other products are good.

 

What your doing sounds strange to me though, why not see if you can refinance the vehicle instead?  Not certain it applies but a refinance essentially just funds the buyout and transfers the loan to another lender, can't see why someone wouldn't do the same for a lease buyout: you may need to float it on your credit cards but at that point you could almost assuredly refinance it away in a two step process akin to a title loan I suspect albeit with more paperwork than a straight refinance.  I'd certainly ask the usual suspects about such an option if you haven't already.




        
Message 14 of 22
CreditExpressNJ
Established Contributor

Re: Joining NFCU


@Revelate wrote:

@shaun2009 wrote:

@Revelate wrote:

@370Z wrote:

@Sooners2013 wrote:

Marry someone that is a member or that qualifies. Smiley Happy 


Or join the military. Their credit card offering is very unappealing though.


It's all about the limit yo! Smiley Happy

 

The fuss that NFCU engenders is a little silly but they admittedly are a shortcut to higher quality credit and loan offers in terms of time domain than the traditional route.  While their 5K or 10K tradelines generally don't compare in value to mainstream cards, even I can sort of understand the emotional appeal of getting one's first higher limit card when everything else is stuck in the $500-2K range.

 

Instant gratificatino cutlure and all that: I'm pretty patient in general but when Amex kicked my BCP to 9K and my "best" tradeline from a credit limit perspective was $2500 from an old graduated BOFA secured card, I was pleasantly tickled pink.

 


My actual reason for doing it is NavCheck i need a 7K loan immediately and i dont wanna put it on a credit card see what i'm trying to do is to buy my leased vehicle out but no finance companies are willing to finance the buyout price so i need 7K to put down while the offer is still there with my current credit union so i can buy it out because i am all types of screwed...I'm over mileage and a bunch of other things and i am sick and tired of paying $656 a month i've done it over a year and half now....


Yeah, I was replying to the other user specifically: NavCheck is one of those time-domain shortcuts that I was referring to.

 

Don't get me wrong, if I was qualified for NFCU I would immediably get membership, and this was especially true 2ish years ago now; however, I'm starting to get good options for other things and if I had a cash shortfall and was stuck in your position I'd likely just go the P2P lending route.  Not certain I'd ever use their credit cards personally given the rewards structure with my current lineup but their other products are good.

 

What your doing sounds strange to me though, why not see if you can refinance the vehicle instead?  Not certain it applies but a refinance essentially just funds the buyout and transfers the loan to another lender, can't see why someone wouldn't do the same for a lease buyout: you may need to float it on your credit cards but at that point you could almost assuredly refinance it away in a two step process akin to a title loan I suspect albeit with more paperwork than a straight refinance.  I'd certainly ask the usual suspects about such an option if you haven't already.


Yea i wish that was so but the fact of it is that .... My car when i first brought it was $32K , Its aged a year and collected mileage but the buyout with the residual included is 29K they are only willing to give me 22K for the because thats the NADA of it right now thus leaving me having to make a down payment of $7K leases arent as easy as finances if you never been in one DONT EVER stay away from it like its a plege  i wish i never did such a thing...I've actually tried everything even though i have no plans on defaulting on it and jsut trying to get myself out of the lease no banks will honor paying for  a car at the value of when it was nearly new...

CH7 Filed (3/29/17) - 483 EX 516 EQ 517 TU Discharged (5/31/17) - 559 EX 538 EQ 501 TU Current (1/18/22) - 690 EX 683 EQ 671 TU
Current Cards

Message 15 of 22
Revelate
Moderator Emeritus

Re: Joining NFCU


@shaun2009 wrote:

@Revelate wrote:

@shaun2009 wrote:

@Revelate wrote:

@370Z wrote:

@Sooners2013 wrote:

Marry someone that is a member or that qualifies. Smiley Happy 


Or join the military. Their credit card offering is very unappealing though.


It's all about the limit yo! Smiley Happy

 

The fuss that NFCU engenders is a little silly but they admittedly are a shortcut to higher quality credit and loan offers in terms of time domain than the traditional route.  While their 5K or 10K tradelines generally don't compare in value to mainstream cards, even I can sort of understand the emotional appeal of getting one's first higher limit card when everything else is stuck in the $500-2K range.

 

Instant gratificatino cutlure and all that: I'm pretty patient in general but when Amex kicked my BCP to 9K and my "best" tradeline from a credit limit perspective was $2500 from an old graduated BOFA secured card, I was pleasantly tickled pink.

 


My actual reason for doing it is NavCheck i need a 7K loan immediately and i dont wanna put it on a credit card see what i'm trying to do is to buy my leased vehicle out but no finance companies are willing to finance the buyout price so i need 7K to put down while the offer is still there with my current credit union so i can buy it out because i am all types of screwed...I'm over mileage and a bunch of other things and i am sick and tired of paying $656 a month i've done it over a year and half now....


Yeah, I was replying to the other user specifically: NavCheck is one of those time-domain shortcuts that I was referring to.

 

Don't get me wrong, if I was qualified for NFCU I would immediably get membership, and this was especially true 2ish years ago now; however, I'm starting to get good options for other things and if I had a cash shortfall and was stuck in your position I'd likely just go the P2P lending route.  Not certain I'd ever use their credit cards personally given the rewards structure with my current lineup but their other products are good.

 

What your doing sounds strange to me though, why not see if you can refinance the vehicle instead?  Not certain it applies but a refinance essentially just funds the buyout and transfers the loan to another lender, can't see why someone wouldn't do the same for a lease buyout: you may need to float it on your credit cards but at that point you could almost assuredly refinance it away in a two step process akin to a title loan I suspect albeit with more paperwork than a straight refinance.  I'd certainly ask the usual suspects about such an option if you haven't already.


Yea i wish that was so but the fact of it is that .... My car when i first brought it was $32K , Its aged a year and collected mileage but the buyout with the residual included is 29K they are only willing to give me 22K for the because thats the NADA of it right now thus leaving me having to make a down payment of $7K leases arent as easy as finances if you never been in one DONT EVER stay away from it like its a plege  i wish i never did such a thing...I've actually tried everything even though i have no plans on defaulting on it and jsut trying to get myself out of the lease no banks will honor paying for  a car at the value of when it was nearly new...


Getting really far afield on this topic, but don't most leases run 3 years anyway?  The book value penalty is especially harsh as soon as you drive it off the lot, it comes a lot more in line by the 3 year mark especially if you have a car which generally holds it's value.

 

That gives you time to arrange something else, and both DCU and Penfed I think will undewrite at 120% of the book value though that doesn't cover your marker currently unfortunately it's closer.




        
Message 16 of 22
370Z
Frequent Contributor

Re: Joining NFCU


@Revelate wrote:

@370Z wrote:

@Sooners2013 wrote:

Marry someone that is a member or that qualifies. Smiley Happy 


Or join the military. Their credit card offering is very unappealing though.


It's all about the limit yo! Smiley Happy

 

The fuss that NFCU engenders is a little silly but they admittedly are a shortcut to higher quality credit and loan offers in terms of time domain than the traditional route.  While their 5K or 10K tradelines generally don't compare in value to mainstream cards, even I can sort of understand the emotional appeal of getting one's first higher limit card when everything else is stuck in the $500-2K range.

 

Instant gratificatino cutlure and all that: I'm pretty patient in general but when Amex kicked my BCP to 9K and my "best" tradeline from a credit limit perspective was $2500 from an old graduated BOFA secured card, I was pleasantly tickled pink.

 


I guess that makes sense for those with small limit cards. I just joined the military (part-time) last week, but I'm not really interested in their cards. Maybe a home loan in the near future. I wouldn't trade one of my 5k Chase cards for a 25k NFCU card.

EQ8 817 (2/24) EQ9 850 (1/24) EX8 837 (3/24) EX9 842 (3/24) TU8 824 (2/24)
Chase_Hyatt|10k|15.24%|6/13 * Amex_Hilton|10k|13.99%|8/13 * Chase_IHG|10k|15.24%|1/14 * Chase_Ink$|12k|13.24%|5/14 * NFCU$|46k|9.65%|12/14 * Amex_ED|10k|12.99%|1/16 * Citi_Custom$|45k|15.24%|4/16 * Merrill+|68k|12.99%|2/17 * Amex_BB+|10k|15.24%|3/18 * PenFed_Pathfinder|29.4k|12.74%|9/18 * WF_Autograph|25k|16.99%|7/19 * AODFCU_VS|22k|7.49%|4/20 * Chase_Ritz_Carlton|48.5k|15.99%|10/21 * Amex_BB$|42k|13.24%|8/22 * Redstone_FCU_VS|10k|12.00%|6/23 * C1_VX|30k|14.74%|1/24
Gone: CSP, AA x3, Ink+, Premier, CSR, CFU, CF, AARP, Limitless
Message 17 of 22
Revelate
Moderator Emeritus

Re: Joining NFCU


@370Z wrote:

@Revelate wrote:

@370Z wrote:

@Sooners2013 wrote:

Marry someone that is a member or that qualifies. Smiley Happy 


Or join the military. Their credit card offering is very unappealing though.


It's all about the limit yo! Smiley Happy

 

The fuss that NFCU engenders is a little silly but they admittedly are a shortcut to higher quality credit and loan offers in terms of time domain than the traditional route.  While their 5K or 10K tradelines generally don't compare in value to mainstream cards, even I can sort of understand the emotional appeal of getting one's first higher limit card when everything else is stuck in the $500-2K range.

 

Instant gratificatino cutlure and all that: I'm pretty patient in general but when Amex kicked my BCP to 9K and my "best" tradeline from a credit limit perspective was $2500 from an old graduated BOFA secured card, I was pleasantly tickled pink.

 


I guess that makes sense for those with small limit cards. I just joined the military (part-time) last week, but I'm not really interested in their cards. Maybe a home loan in the near future. I wouldn't trade one of my 5k Chase cards for a 25k NFCU card.


Most people find this forum in a rebuilding mode: while we get some people that wander in with absurdly good credit, that's not the rule for the vast majority of the population here.  That's what skews it so much I think.

 

In your case with quality tradelines, I agree the appeal just isn't there.  I picked up my first 5K tradeline from Chase the other day even if it doesn't report to personal credit, and I wouldn't trade that card for anything in NFCU's lineup either... might be a balance carrying option in NFCU though I don't know their APR structure because I just don't qualify, but beyond that like most CU's their rewards packages don't match with Chase / Amex / other tier 1 credit card issuers.

 

I would still take the inquiries though if you can afford them right now to establish membership in your case: NFCU is a good CU from a consumer perspective, and they might be useful in the future to you for other products and you've already met the hard part, might as well take advantage of that.




        
Message 18 of 22
CreditExpressNJ
Established Contributor

Re: Joining NFCU


@Revelate wrote:

@shaun2009 wrote:

@Revelate wrote:

@shaun2009 wrote:

@Revelate wrote:

@370Z wrote:

@Sooners2013 wrote:

Marry someone that is a member or that qualifies. Smiley Happy 


Or join the military. Their credit card offering is very unappealing though.


It's all about the limit yo! Smiley Happy

 

The fuss that NFCU engenders is a little silly but they admittedly are a shortcut to higher quality credit and loan offers in terms of time domain than the traditional route.  While their 5K or 10K tradelines generally don't compare in value to mainstream cards, even I can sort of understand the emotional appeal of getting one's first higher limit card when everything else is stuck in the $500-2K range.

 

Instant gratificatino cutlure and all that: I'm pretty patient in general but when Amex kicked my BCP to 9K and my "best" tradeline from a credit limit perspective was $2500 from an old graduated BOFA secured card, I was pleasantly tickled pink.

 


My actual reason for doing it is NavCheck i need a 7K loan immediately and i dont wanna put it on a credit card see what i'm trying to do is to buy my leased vehicle out but no finance companies are willing to finance the buyout price so i need 7K to put down while the offer is still there with my current credit union so i can buy it out because i am all types of screwed...I'm over mileage and a bunch of other things and i am sick and tired of paying $656 a month i've done it over a year and half now....


Yeah, I was replying to the other user specifically: NavCheck is one of those time-domain shortcuts that I was referring to.

 

Don't get me wrong, if I was qualified for NFCU I would immediably get membership, and this was especially true 2ish years ago now; however, I'm starting to get good options for other things and if I had a cash shortfall and was stuck in your position I'd likely just go the P2P lending route.  Not certain I'd ever use their credit cards personally given the rewards structure with my current lineup but their other products are good.

 

What your doing sounds strange to me though, why not see if you can refinance the vehicle instead?  Not certain it applies but a refinance essentially just funds the buyout and transfers the loan to another lender, can't see why someone wouldn't do the same for a lease buyout: you may need to float it on your credit cards but at that point you could almost assuredly refinance it away in a two step process akin to a title loan I suspect albeit with more paperwork than a straight refinance.  I'd certainly ask the usual suspects about such an option if you haven't already.


Yea i wish that was so but the fact of it is that .... My car when i first brought it was $32K , Its aged a year and collected mileage but the buyout with the residual included is 29K they are only willing to give me 22K for the because thats the NADA of it right now thus leaving me having to make a down payment of $7K leases arent as easy as finances if you never been in one DONT EVER stay away from it like its a plege  i wish i never did such a thing...I've actually tried everything even though i have no plans on defaulting on it and jsut trying to get myself out of the lease no banks will honor paying for  a car at the value of when it was nearly new...


Getting really far afield on this topic, but don't most leases run 3 years anyway?  The book value penalty is especially harsh as soon as you drive it off the lot, it comes a lot more in line by the 3 year mark especially if you have a car which generally holds it's value.

 

That gives you time to arrange something else, and both DCU and Penfed I think will undewrite at 120% of the book value though that doesn't cover your marker currently unfortunately it's closer.


Yea your correct about that it will be worth more by the end of the 3 year mark for a buyout but I was trying to lower my payments now since i know i'm keeping the car so i can allocate the extra else were i mean $656 a month is not exactly a small amount especially for a Honda lol... If i was driving a Benz or a upscale foreign car I wouldnt mind but a Honda come on....

CH7 Filed (3/29/17) - 483 EX 516 EQ 517 TU Discharged (5/31/17) - 559 EX 538 EQ 501 TU Current (1/18/22) - 690 EX 683 EQ 671 TU
Current Cards

Message 19 of 22
370Z
Frequent Contributor

Re: Joining NFCU


@Revelate wrote:

@370Z wrote:

@Revelate wrote:

@370Z wrote:

@Sooners2013 wrote:

Marry someone that is a member or that qualifies. Smiley Happy 


Or join the military. Their credit card offering is very unappealing though.


It's all about the limit yo! Smiley Happy

 

The fuss that NFCU engenders is a little silly but they admittedly are a shortcut to higher quality credit and loan offers in terms of time domain than the traditional route.  While their 5K or 10K tradelines generally don't compare in value to mainstream cards, even I can sort of understand the emotional appeal of getting one's first higher limit card when everything else is stuck in the $500-2K range.

 

Instant gratificatino cutlure and all that: I'm pretty patient in general but when Amex kicked my BCP to 9K and my "best" tradeline from a credit limit perspective was $2500 from an old graduated BOFA secured card, I was pleasantly tickled pink.

 


I guess that makes sense for those with small limit cards. I just joined the military (part-time) last week, but I'm not really interested in their cards. Maybe a home loan in the near future. I wouldn't trade one of my 5k Chase cards for a 25k NFCU card.


Most people find this forum in a rebuilding mode: while we get some people that wander in with absurdly good credit, that's not the rule for the vast majority of the population here.  That's what skews it so much I think.

 

In your case with quality tradelines, I agree the appeal just isn't there.  I picked up my first 5K tradeline from Chase the other day even if it doesn't report to personal credit, and I wouldn't trade that card for anything in NFCU's lineup either... might be a balance carrying option in NFCU though I don't know their APR structure because I just don't qualify, but beyond that like most CU's their rewards packages don't match with Chase / Amex / other tier 1 credit card issuers.

 

I would still take the inquiries though if you can afford them right now to establish membership in your case: NFCU is a good CU from a consumer perspective, and they might be useful in the future to you for other products and you've already met the hard part, might as well take advantage of that.


I'll keep that in mind since I'll likely be taking out a home loan in 2016.

EQ8 817 (2/24) EQ9 850 (1/24) EX8 837 (3/24) EX9 842 (3/24) TU8 824 (2/24)
Chase_Hyatt|10k|15.24%|6/13 * Amex_Hilton|10k|13.99%|8/13 * Chase_IHG|10k|15.24%|1/14 * Chase_Ink$|12k|13.24%|5/14 * NFCU$|46k|9.65%|12/14 * Amex_ED|10k|12.99%|1/16 * Citi_Custom$|45k|15.24%|4/16 * Merrill+|68k|12.99%|2/17 * Amex_BB+|10k|15.24%|3/18 * PenFed_Pathfinder|29.4k|12.74%|9/18 * WF_Autograph|25k|16.99%|7/19 * AODFCU_VS|22k|7.49%|4/20 * Chase_Ritz_Carlton|48.5k|15.99%|10/21 * Amex_BB$|42k|13.24%|8/22 * Redstone_FCU_VS|10k|12.00%|6/23 * C1_VX|30k|14.74%|1/24
Gone: CSP, AA x3, Ink+, Premier, CSR, CFU, CF, AARP, Limitless
Message 20 of 22
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