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Established Contributor
MountainHiker
Posts: 651
Registered: ‎08-07-2012

LOWEST FICO SCORE YET APPROVED W/ NFCU CREDIT CARD?

A family member was denied a credit card with NFCU and instead offered a secured card.Their fico score is about 590 with two older collections.But the person in question does have many, and I do mean many inquiries in the last 12 months.The person also has long term established credit with credit cards and two auto loans. Do you think the inquiries weighed heavier than the actual fico score or was the two 5 year old collections the determining factor in credit denial?

EQ-732FICO,EX-PLUS 740,TU-725FICO
Goal 750 Across

NFCU Signature Cash Rewards Visa, Chase Freedom Visa, Wells Fargo Visa Secured
Valued Contributor
chnceit
Posts: 1,524
Registered: ‎08-17-2008

Re: LOWEST FICO SCORE YET APPROVED W/ NFCU CREDIT CARD?

They must have high utilization too because inquires stop hurting after so many

$100K in Credit
Last Credit Card App: 11/16/13
Established Contributor
MountainHiker
Posts: 651
Registered: ‎08-07-2012

Re: LOWEST FICO SCORE YET APPROVED W/ NFCU CREDIT CARD?


chnceit wrote:
They must have high utilization too because inquires stop hurting after so many

ulti is about 60%

EQ-732FICO,EX-PLUS 740,TU-725FICO
Goal 750 Across

NFCU Signature Cash Rewards Visa, Chase Freedom Visa, Wells Fargo Visa Secured
Valued Contributor
j_casteel
Posts: 1,259
Registered: ‎06-21-2012

Re: LOWEST FICO SCORE YET APPROVED W/ NFCU CREDIT CARD?

with that score, inquiries, and all the other baddies it still should be a win at getting approved for the NFCU secured card. It's a great start to an amazing relationship with NFCU. Treat them right and they'll do the same.

| AMEX Zync | Walmart $5k | Amazon $5k | NFCU $12k | NavChek $15k | NFCU $7.5k | Lowes $15k | BoA WMC $8.1k | Freedom $3k | Discover $4k | CSP $5k |
Starting Score: EQ:571 EX:??? TU:597
Current Score: EQ:658 EX:698 TU:691
Goal Score: 700
Valued Contributor
Scupra
Posts: 1,082
Registered: ‎07-12-2012

Re: LOWEST FICO SCORE YET APPROVED W/ NFCU CREDIT CARD?

Has anyone recently had their NFCU secured card graduate at or around a year? I know there is a lot of back and forth on the topic so I wanted to ask :smileyhappy:

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
655 EQ FICO 02/2014
674 TU FICO 04/2014
682 EX FICO 04/2014
$7k NFCU Flagship Sig - $8.5k NFCU cashRewards Sig - $15k NavChek - $2k Cap1 Quicksilver - $3k Barclays Arrival
Mega Contributor
Creditaddict
Posts: 16,879
Registered: ‎10-23-2007

Re: LOWEST FICO SCORE YET APPROVED W/ NFCU CREDIT CARD?

Last week my friend applied for secured with note that he would like to build his history with them and hope to get to unsecured and then maybe auto later... Something I have never seen, they approved him $3k CL at 15.99% and took $500 out of his savings to secure I guess... He "was" planning to get the secured card with $1k which was in the account.

My other friend that just joined a month ago was instantly approved for $6k but at 17.99% which I think is a little funny.

 

Still waiting to see score but I can't imagine higher then 550ish and friend that got the $6k was 605 last he knew and MAXED on credit. (now ALL combined to the $6k Navy)

Fico Scores: EQ 620, TU 675 & EX 703 (4-1-14)
Joint Cards: Navy NavCheck $15000, Discover iT $9000, Macy Amex $4000, Macy Store $3000, Macy Furniture $5800
AU: Virgin America $8500, CSP $27,000, Fidelity Amex $25,000, AA Biz $25,000, Barclay USAir Biz $6640
Mine: Navy NavCheck $3000, Kay Jewelry $2700, Pottery Barn $2800, FleetCard MC Biz $1800, HSN $1500, Vitacost MC $1500, Navy Cash $1500 and nRewards $1500, Bill Me Later $772, Cap1 Sony $750, Cap1 Spark $750, Best Buy MC $750, GE 76 Gas $650, Von Maur $600, Cap1 QuickSilver $500, Burbank CU $500, Kohls $300, Target1 $300, Target2 $300, Buckle $250, Express $250, Target3 $200
Established Contributor
MountainHiker
Posts: 651
Registered: ‎08-07-2012

Re: LOWEST FICO SCORE YET APPROVED W/ NFCU CREDIT CARD?


Creditaddict wrote:

Last week my friend applied for secured with note that he would like to build his history with them and hope to get to unsecured and then maybe auto later... Something I have never seen, they approved him $3k CL at 15.99% and took $500 out of his savings to secure I guess... He "was" planning to get the secured card with $1k which was in the account.

My other friend that just joined a month ago was instantly approved for $6k but at 17.99% which I think is a little funny.

 

Still waiting to see score but I can't imagine higher then 550ish and friend that got the $6k was 605 last he knew and MAXED on credit. (now ALL combined to the $6k Navy)


That is amazing! Once again NFCU making life easier for families in America. Maybe my family member was denied for the credit card because of the toxic mix of high ulti 60%,two collections and a fico score of 590. In either case it was great nfcu counter offered a secured card.Btw, that secured card is not like any other secured card I've seen.That card actually has built-in protection insurance that covers car rentals.What secured cards have that other than nfcu? None I can think of.  What a great outfit. I noticed today that on my nfcu profile they are again offering me their Cash rewards card. Very tempting. But I'm trying to wait till my new address sync with the credit bureaus.

EQ-732FICO,EX-PLUS 740,TU-725FICO
Goal 750 Across

NFCU Signature Cash Rewards Visa, Chase Freedom Visa, Wells Fargo Visa Secured
Regular Contributor
JollehRoger
Posts: 233
Registered: ‎06-05-2011

Re: LOWEST FICO SCORE YET APPROVED W/ NFCU CREDIT CARD?


Scupra wrote:

Has anyone recently had their NFCU secured card graduate at or around a year? I know there is a lot of back and forth on the topic so I wanted to ask :smileyhappy:


Mine did a few months ago, here's the thread I made with details when it happened.

 

http://ficoforums.myfico.com/t5/Credit-Cards/NFCU-just-graduated-my-secured-card/m-p/1468558#M403983


Scores: TU - 777 (Discover FICO - 1/31/2014), EQ - 716 (MyFico FICO - 12/1/2013)
Current Cards: NFCU cashRewards Siggy - 5k, Citi Dividend WE- 3.7k, Discover It - 5k, Amex BCE - 6.6k
In the garden for the near future.

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