NFCU Advice Needed

[Whereis750]

Hi guys!  Just found out my grandfather opened a NFCU account and it looks like grandchildren are able to get in through sponsorship!  Been hearing great things about this CU through the forums (really like their CLs for new CCs I've been seeing) and super happy I’m going to be able to join.  So now I’m wondering when y'all think I should sign up for membership (not apply for CC yet, just membership).

I hear they do hard pulls even for joining, so that concerns me.  I’m currently working on paying down revolving balances so Util drops from 70% to under 10% before I app for a prime card.  I have 1 inquiry on TU and EQ from September 2011.  My FICO scores are TU 710 and EQ 696 (as of yesterday 4/30/12).  Besides the 1 inquiry on each report (which was from my current Credit Union when I joined), I haven't apped for anything in over 4 years - so I'm reluctant to do anything that taps into these reports.

My question is should I join NFCU now or wait to join until I’m credit-ready to app for a prime card when joining which may not be for another 4-5 months.  Thanks!

[cobra19]

I would apply now - today !!!!  When I joined, back in 2007, they pulled only EQ.

Yes, they do a hard pull, but IMO it is worth it. Open an account, and move everything over.  If you want to apply for CC's now, with a EQ of 696, you should be good for a 8-10k CC.

With NFCU, it's all good. I see no point in waiting. In 5-6 months, assuming you stay good, they'll 'prolly bump you to 10-12k.

[Anonymous]

Welcome, I don't see any reason you shouldn't join now! I say go for it. If they are going to do a hard pull anyway then you might as well apply for the card.

[treski]

I signed up with TU 609 and EQ 712 (both from myFico) and got in no prob. I apped for the Flagship Rewards Visa a week later (yesterday) and was approved for $25k with $65,000 income and I had just been approved for a USAA MasterCard and Amex for $10k each a week ago.

I'd sign up if I were you. (:

[treski]

Also, I'm not active duty and I had only $10 in savings and $10 in checking. No direct deposit, either. I almost choked on my soda. I was expecting $10k or so. I'm still grinning.

[tbc]

NFCU IS AWESOME.

Their customer service is wonderful to talk to and deal with.  So easy.  

+++1000

[Whereis750]

Lol – congrats tresk.  I’d likely have the same reaction if I got anything over $5K.  I’m not active duty either.  Did you have any lates on your reports when you applied for membership and the CC?

The only negatives on my report are two student loan accounts that have lates up to 120 days back in 2009 and 2008.  Thought Forbearances would take care of those but Chase really did me in – anyway long story there.  I’m doing the GW thing to see if they can remove these lates – not giving up.

My oldest account is almost 12 years, average age is 6 years. 

[MamboItaliano]

They will pull your TU for membership and pull your EQ for a CC.

At least, that is what they just did with me. 

[treski]

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@Whereis750 wrote:

Lol – congrats tresk.  I’d likely have the same reaction if I got anything over $5K.  I’m not active duty either.  Did you have any lates on your reports when you applied for membership and the CC?

The only negatives on my report are two student loan accounts that have lates up to 120 days back in 2009 and 2008.  Thought Forbearances would take care of those but Chase really did me in – anyway long story there.  I’m doing the GW thing to see if they can remove these lates – not giving up.

My oldest account is almost 12 years, average age is 6 years. 

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Thanks!  I had a moment of panic this morning when I got an email from them.  It asked me to log in, and I did, and it was just a congratulatory message.  Woo!

All of my baddies from EQ had fallen off, hence the enormous gap between my scores.  It seems that everything awful reports to TU and EX, and not to EQ.

They pulled EQ and TU for me to sign up, and on TU I had 3 collections (2 newer) showing and a CO from many years ago.  EQ was super-clean, but I did have those 2 brand-new USAA accounts showing, with their inquiries.

You'll do great.  Update us if you get brave, lol.

Applying for membership took a full week, BTW.  They snail mail the account access information, so there was no instant gratification.  I took that week to research which CC I REALLY wanted (as it was the last of my app spree), and I chose the Flagship Rewards Visa.

Good luck!

[Whereis750]

Treski - what reports did USAA pull when you apped for their CCs?  Did you have to open a membership savings account with USAA prior to aping for CC?