NFCU Credit, When??

[CreditAngel]

How long after being approved for membership with NFCU should I apply for any credit?  I'm interested in higher limit credit card (currently my highes is $5000 BOA).   Should I wait a 2-3 month OR should I just go for it?  If I applied credit the same month of my membership could NFCU used the same credit pulled report/score pulled originally? 

[700orbust]

Pretty sure they will do a new hard pull when you apply for credit. But it doesn't matter how long you wait, unless you are running everything through the account, and want to use that for leverage if your profile is borderline for them.

Personally, I'm just waiting until I have a collection removed, and have 1k sitting in savings just to look better to them. 

[Datx]

They will pull another hard when you apply. But if you call them, you might be able to ask them to use the same hard pull when you applied for membership. It never hurts to try. As far as how long you should wait to apply for a credit card...you can apply whenever you're ready. I applied for a CC with them like the first week or so, and was instantly approved for a 5K nRewards Visa with an EQ of around 645.

[700orbust]

MyCreditStinks, how long ago did you apply?

[Datx]

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@700orbust wrote:

MyCreditStinks, how long ago did you apply?

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It was towards the end of Sept - early Oct last year. IIRC, it was just a few days after I had access to online banking with NFCU. I enrolled for direct deposit, but it hasnt started posting yet. I had only a few bucks in my checking account.  I started to read all kinds of NFCU approval threads and figured I give it a shot and was hoping for a 2K Visa. My highest limit at that time was a $600 Walmart card, and a few more toy limit cards. I had two collection accounts still on EQ. One of those has aged quite a bit and will fall off this year. The other collection was for a smaller cable bill but was very recent. As in, it reported on Jan 2010 type recent. But that is now off my reports thanks to paying it off and some GW skills. NFCU also approved my auto loan towards the end of Oct with a decent rate. At that time my EQ was at 659 and they wanted 2 paystubs. Overall NFCU has been kind to me.

[CreditAngel]

MyCreditStinks - May I ask how much your car loan was for with those scores?  My EQ is about the same as yours and I am interested in a car loan , as well.  I just decided that I would do credit card first.  I think that I will be calling to beg that my credit is not pulled , again.  My membership was just approved on Monday of this week....using the same credit report pull would be ideal for me.

[Datx]

Sure. The loan was for 14K @ 5.5 APR for 36 months. This rate may not sound so great, but it was a gift for me. The vehicle I bought was actually my brother's truck. He has horrible credit but he bought the truck and did financing through Cap One with a really bad rate of 18%. He has the income, just didnt have the credit, so he figured he would just pay it off early to avoid the huge interest. Well, things didnt go according to plans, and I took over the vehicle. I paid Cap One for about 1.5 years, and the interest rate was really bugging me. So I decided to basically buy the vehicle from my brother and pay Cap One off buy going through a used loan from NFCU. Now my payments are lower and I dont feel so bad about paying some love (interest) back to NFCU instead of Cap One. The 14K covered the state sales tax I had to pay too when I did the title transfer and all. Its 100% financing, I did not have to do a down payment.

[Gh0st]

My dear friend's credit score is mid 600 with a judgement that is either still there or taken off( she had to go to court). She took out a small loan from nfcu a few months back with a pretty bad apr, but she's been making timly payments. Her highest credit card amex optima at $500. Yesterday she applied for a nfcu credit card and got a 180000. She does make around 100k a year though if that matters.