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LOWEST FICO SCORE YET APPROVED W/ NFCU CREDIT CARD?

Established Contributor

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
Message 1 of 8
7 REPLIES
Valued Contributor

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

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

Last Pulled EQ: 809
Last Credit Card App: 02/05/2016
Last CLI: 02/06/2016
Find Me: Gardening
Message 2 of 8
Established Contributor

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
Message 3 of 8
Valued Contributor

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.

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 4 of 8
Community Leader
Senior Contributor

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 Smiley Happy

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
730 EQ FICO 11/2017
750 TU FICO 11/2017
735 EX FICO 11/2017
$20k NFCU Platinum | $25k NFCU cashRewards Sig | $15k NavChek | $7.1k Cap1 Quicksilver | $10k Amazon Store | $19k Cap1 VentureOne | $16k Barclay Aviator | $5k Chase Freedom | $5k Chase Sapphire Preferred | $9k Costco Visa | $20k AMEX BCE
Message 5 of 8
Epic Contributor

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)

Message 6 of 8
Established Contributor

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
Message 7 of 8
Highlighted
Frequent Contributor

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 Smiley Happy


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: EX - 769 (Amex FICO 5/21/16) TU - 763 (Discover FICO - 4/30/16), EQ - 795 (Citi FICO - 5/24/16)
Current Cards: Amex BCE - 10k, NFCU cashRewards Sig - 8k, Discover It - 10k, Citi Dividend WE - 8k, Chase Freedom - 4k, Chase Amazon Visa Sig - 4k
Last App: 3/4/2016.
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