NFCU cc app, no instant decision?

Anonymous · ‎06-22-2011

I was wondering what experience people have had recently applying for credit cards from NFCU? I just applied over the phone (since my online account isn't set up yet), and they told me to call back within 1 business day to ask. So it wasn't an instant approval, or an instant denial - I'm trying to decide if I should be bracing for a denial or not. I really don't like not getting instant responses, since I end up having to nervously wait until they give me an answer.

Anonymous · ‎06-22-2011

@Anonymous wrote:
I was wondering what experience people have had recently applying for credit cards from NFCU? I just applied over the phone (since my online account isn't set up yet), and they told me to call back within 1 business day to ask. So it wasn't an instant approval, or an instant denial - I'm trying to decide if I should be bracing for a denial or not. I really don't like not getting instant responses, since I end up having to nervously wait until they give me an answer.

Hi Andy, which of their product did you app for?

Here is one of our member's post regarding instant approval with NFCU.

http://ficoforums.myfico.com/t5/Credit-Cards/NFCU-Visa-Approval/td-p/947414

It is not just you ... most of us are so anxious to find out that he/she has been approved or not and its CL. Just stay tight and wait for tomorrow.

Anonymous · ‎06-22-2011

I applied for the Cash Rewards. I was going to do the nRewards, but decided I might as well go for cash rewards, since it ends up being more useful if I have a lot of usage on it

They told me on the phone that if I get denied for that, I can always recon it. I asked about the secured card, and they said they can put through an app for that with the same credit inquiry if I get denied as long as it's within 30 days. So I figured this way I'll at least get a shot at geting the unsecured card and if I do get denied, I can always apply for the nRewards secured. They have a 0% BT for 12 monts offer so I figured if I do get approved, I can move what balances I have on Cap One over to NFCU and keep my Cap One cards just as emergency backup funding.

I just hate not knowing! I'd almost rather get instantly denied (well, not really) than have to wait for a response. I keep trying to think of an excuse to call them and pester them about my app status, althoughI know it won't actually do any good.

Anonymous · ‎06-22-2011

DW and I were approved instantly for $7k on the nRewards card. BK was dismissed one year ago. We were amazed. Also worth noting, we applied while opening up our account. Maybe since you didn't apply with opening your account, they want to verify identity and such first? I dunno. We figured since they were going to pull hard to open the checking/savings, we might as well apply right then. Glad we did! Good luck.

Anonymous · ‎06-22-2011

@Anonymous wrote:
I applied for the Cash Rewards. I was going to do the nRewards, but decided I might as well go for cash rewards, since it ends up being more useful if I have a lot of usage on it

They told me on the phone that if I get denied for that, I can always recon it. I asked about the secured card, and they said they can put through an app for that with the same credit inquiry if I get denied as long as it's within 30 days. So I figured this way I'll at least get a shot at geting the unsecured card and if I do get denied, I can always apply for the nRewards secured. They have a 0% BT for 12 monts offer so I figured if I do get approved, I can move what balances I have on Cap One over to NFCU and keep my Cap One cards just as emergency backup funding.

I just hate not knowing! I'd almost rather get instantly denied (well, not really) than have to wait for a response. I keep trying to think of an excuse to call them and pester them about my app status, althoughI know it won't actually do any good.

Andy, it's smart decision!

Why? This rewards program is not that good as used to be any more, and it does not give you same $ as cashRewards when you redeem its pts.

Anonymous · ‎06-22-2011

That's what I figured after looking at the rewards - you get 1 point either way, and for nRewards, at best, you'll get 1% ($-value) per point back. With Cash Rewards, it's always at least 1%, and goes up to 1.5% if you spend 10k or more a year. I figure if I get the card, I'll just push all my purchases through on that and stop using the other CCs I have except for whatever recurring minor monthly bills I have or some Starbucks here or there.

I was going to apply for the CC last night when my membership was finally approved, but by the time I was done talking to the rep (he took a good 40 mins to explain all the benefits/features/services, nice and all but took forever), I was just too tired to talk to someone at the CC department. So I applied this morning instead. I'm sure they'll still have to do a second hard pull even though my account just got opened.

llecs · ‎06-22-2011

Both DW and I applied and were instantly approved on seperate accounts for the CashRewards back in March and February respectively.

Anonymous · ‎06-22-2011

That's what I expected, instant approval or denial - but she said it generally takes 24 hours for the application to be processed. Then again, she could have just been saying that.

Datx · ‎06-22-2011

@Anonymous wrote:
That's what I expected, instant approval or denial - but she said it generally takes 24 hours for the application to be processed. Then again, she could have just been saying that.

It really varies. I remember the days when ppl were being switched over from USAFed over to NFCU, there were quite a few ppl claiming that NFCU does manual reviews for CCs. Some reported instant approvals when applying online through the online banking account. I got an instant approval as well when I applied online while there were quite a few others getting approved a few days later. Rumor going around that they may be busy in the CC dept because of the 0% BT offer going on. Patience my friend, patience.

Anonymous · ‎06-22-2011

@MyCreditStinks wrote:
It really varies. I remember the days when ppl were being switched over from USAFed over to NFCU, there were quite a few ppl claiming that NFCU does manual reviews for CCs. Some reported instant approvals when applying online through the online banking account. I got an instant approval as well when I applied online while there were quite a few others getting approved a few days later. Rumor going around that they may be busy in the CC dept because of the 0% BT offer going on. Patience my friend, patience.

You're right, of course. I just wish all approvals were instant, since any time I've received a 7-10 day message (or whatever they are) I usually end up with a denial. Instant approvals, on the other hand, are instant.

The rep who gave me my membership information yesterday was the one who mentoned that 0% BT offer, so they really must be pushing it. As part of the app process over the phone today (they just confirmed a few details and asked for my income), they asked if I wanted to do a BT. I told them that if I was approved for a high enough CL, I would. So I guess we'll see. Hoping for the best, but I guess worse case scenario, I can always get the secured card and suffer through the year or so to unsecure it.