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Valued Member
Posts: 42
Registered: ‎07-29-2012
0

NFCU...WHAT SHOULD I DO???

Happy Labor Day MyFICO community. So I finally recieved my NFCU nRewards card the other day. My CL is $2k w/13.99% APR. Honestly I was expecting more since I make over $70k and I seen other myFICO members w/lower scores post higher approved limits but I guess my bankruptcy (5/11) is still "too new". Anyway, on this document they sent with the card explaining the opening account summary, apr, and credit disclosure, etc., they gave all the details and key factors that adversely affected my decisions. One of the factors they mentioned on 2 explanations listed had to do with deliquencies. They only deliquency I currently have were 6 lates in 2007, 2010 (2 accounts consolidated into 1, 3 lates each) total on my student loans. This was a result of miscommunication between Nelnet and myself; my loans were coming out of deferment and I wasn't properly informed of such. The loans are current now but the mark remain. I recently have tried to goodwill Nelnet but they did not bulge.

 

Anyway, I'm rebuilding my credit and would like to develop a relationship with NFCU for future product and services. Depending on my scores, I plan on buying a car between Christmas and Feb. Would it do me any justice to call NFCU and explain this for possible reconsideration of a higher limit or would I be "stirring the pot"??? If so, whom/what # should I call? Thanks in advance.


Starting Score (August 2011 post chapt7): Mid 500's for all three
Current Score (August 2012): EQ: 660 TU 662 EX 656
Goal Score (Spring 2013): 700+ for all three
Wallet: CapOne Platinum Rebuilder: $750CL/ Orchard Bank: $420/ NFCU nRewards $2k

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Valued Contributor
Posts: 2,111
Registered: ‎07-29-2011
0

Re: NFCU...WHAT SHOULD I DO???

I doubt you would be buying a car with your credit card, so I don't see how stating that you are looking for a car loan would get you a higher limit on your credit card.

EX:694 TU:744 EQ:777
Amex ED $19.5k - BoA Travel Rewards $15k - CSP $5k - SDFCU EMV $15k - NFCU goRewards $20k - Barclays Arrival $6.5k
Established Contributor
Posts: 1,011
Registered: ‎04-08-2012
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Re: NFCU...WHAT SHOULD I DO???

I would mention that when you apply for the Auto Loan. Until then use your card and pif, that will help you build history with them.

-Rebuilding with CapOne Cash: $1.5k, NFCU cashRewards $8.5K, NavCheck $5K, Wal-Mart: $1.1K, Sam's: $1.2K, Amazon: $1.9K, Apple Barclay: $3K, Haverty's: $1.5K, GE capital: $5K, Sears: $250(AU), PP MC:$1.5K, CareCredit:$3K (closed 1st home 05/08/13)
Starting Score: 492-TU04, 480-EX FICO V2, 467-EQ Beacon 5 (Via Mortgage PreQual March '12)
Current Score: EX,EQ,TU (lender pull): 652, 659, 689, Walmart TU FICO: 691 (05/13)
Goal Score: 700

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Valued Contributor
Posts: 1,772
Registered: ‎10-28-2011
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Re: NFCU...WHAT SHOULD I DO???


miltolam wrote:

 My CL is $2k w/13.99% APR. Honestly I was expecting more since I make over $70k and I seen other myFICO members w/lower scores post higher approved limits but I guess my bankruptcy (5/11) is still "too new". 


Seriously?  show me another creditor that would give you a 2k limit with a bk reporting that is so new.  Other members with lower scores that recieved higher limits didnt bankrupt 6 accounts so maybe you should take that into consideration.

 

Anyways there is no back door number for nfcu.  You can send them a private message explaining a situation but keep in mind any requests for anything regarding a cli and such will result in a hp.  For better results I suggest waiting 6 mos and ask for an increase.  For better results I would reccomend you have DD with them

NFCU plat 5k | NAVCHECK 5k | NFCU cashrewards 15k | BOFA 123 6k |
Chase Freedom 1.5k | Amazon 3K | Walmart 3K | Buckle 300 | AMEX BCE 2.5K | CHASE CSP 12K | CITI sears 6k | Kay 2k

On the prowl for Chase Sapphire Preferred! APPROVED 12K!
scores 7/14 647 622 630 (85%util)
scores 8/14 767 760 758 Boom! finally in the 700 club
Moderator Emeritus
Posts: 7,225
Registered: ‎09-16-2011
0

Re: NFCU...WHAT SHOULD I DO???

I agree that you are fortunate to be approved with a BK that new. You really do not need more than 2k CL to rebuild with. Just sit tight and by all means buy a car that is less than your "means".

Also; you had to go through an exit interview on your student loans did you not? In that interview I clearly remember how they explain that it is your responsibility to repay the loans. You should have called and given them your social security number. That way they could have looked up your loans; updated your address on file; and told you how much to pay and by when. I don't see this as as you not being "properly informed"

I see this as you needing to learn how to follow up with creditors and make sure you are complying with the terms of your promissory note.

If I were you I would feel comfortable asking for a CLI at the 6 month mark.

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



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