08-30-2012 11:09 AM
I see a lot of questions / discussion about Navy Federal and wanted to post my experience for others with similar profiles. I just joined Navy Federal on Monday and applied for an unsecured card on Tuesday. I initially received the 3-5 day response and, just hoping it would help, faxed verification of employment/income (6 years / 60K) to a number I found on these forums. My expectation was to be denied and use my savings to open a $1000 secured line. On Wednesday I got a message that additional information was needed and I called into to verify identity by answering a few questions. This morning around 10AM I get a text that my card request was approved! I called and they gave me a $1500 credit line to start.
I have a score somewhere between 580 and 600 - at least according to multiple FAKO's. I have between 5 and 11 inquiries depending on the bureau pulled. I have two charge offs from 2006, two collections for those same credit lines, and a couple of small medical collections depending upon the report pulled. All are completely paid, but I've not had any luck getting them removed. I have an auto loan with 6 months of perfect payment history and a Cap One $700 secured with 6 months of perfect pay history. I was at 29% utilization when I apped with Navy.
I haven't posted in some time, but I read every day. I have been working hard on my credit since March of this year and it's a fantastic feeling to have an unsecured line. Mostly, I just wanted to say what a ton of folks have said before me. Navy Fed is awesome. They are very considerate. If they approved apps based on score alone, I wouldn't be approved. I truly believe somebody took the time to see that all of my old lines are paid and my new lines are in good shape. I would recommend NFCU to anyone that can find a way to open an account.
And thanks to everyone in this community that shares information daily. This site has been key in my credit journey so far.
08-30-2012 11:14 AM
Congrats on your approval! Loving NFCU!
08-30-2012 11:30 AM - edited 08-30-2012 01:46 PM
Congrats! You should get a letter in the mail from NFCU stating your score and how it was used to determing your CC APR. It'll either be your EQ or TU FICO b/c those are the CRs they pull.
08-30-2012 11:57 AM
CONGRATULATIONS! Welcome the the NFCU Family!
08-30-2012 02:25 PM
Enjoy your new card! Congrats
08-30-2012 03:18 PM
Congrats to you! Navy Federal is an awesome credit union, and once you're in and you take care of them, they will take care of you. I've been a member since 2001 and I have to say, they are wonderful! They gave me my first credit card over $1300 and it's been great since.
08-30-2012 03:23 PM
08-30-2012 03:24 PM
Congratulations! I am waiting for identificaton verification and my next step is to apply. I have heard nothing but positives about them. CONGRATULATIONS!!!!
09-10-2012 05:23 PM - edited 09-10-2012 05:23 PM
Following up to add additional info. I was approved on 8/30 and got my card on 9/7. Pretty quick turnaround. Additionally, I received my credit notification letter today. They pulled Transunion and my score was 618.