NFCU

[Aduke1122]

Yea they are very hard to figure out that's for sure

[Anonymous]

I have had a CashRewards ($1300) with them since Jan, I always pay my card in full before the sstatement cuts. I just applied for an auto loan and was approved for $20k (thats what I asked for). Should I apply for a CLI so that they can use the same credit card pull? I was afraid it was too soon to apply for a CLI.

[Anonymous]

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@Anonymous wrote:

I have had a CashRewards ($1300) with them since Jan, I always pay my card in full before the sstatement cuts. I just applied for an auto loan and was approved for $20k (thats what I asked for). Should I apply for a CLI so that they can use the same credit card pull? I was afraid it was too soon to apply for a CLI.

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The loans are usually an EQ pull and the CC's are a TU pull, at least for me they were.  You might be able to get a CLOC with the same pull if you dont have one, but the CC would most likely be another pull   YMMV tho.

[Anonymous]

I had heard the next AR is July, would the one after that be in Sept?

[UpperNwGuy]

What's an AR?  Doesn't show in our abberviations list.

[CreditInspired]

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@UpperNwGuy wrote:

What's an AR?  Doesn't show in our abberviations list.

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An "Account Review" of your CRs by banks you have CCs with.

NFCU's AR should occur first week of July. The last AR was end of April to first week of May. We hope and pray that when we request a CLI after an AR that it'll will be a SP. I'm trying on July 3 and keeping my fingers crossed for a SP.

[AverageJoesCredit]

Go get em CreditInspired

[JustcallmeTM]

NFCU isn't hard to figure out, it's just that so many people want to claim they know how NFCU works that the information is diluted and almost useless. 

If you have blemishes on your report you can obtain 1 cc and CLOC with them with no issues upon joining unless your report is just that bad that they give you 1 or nothing. Now if your greedy and want the 2nd cc it's become more difficult to obtain within 3 months from opening anything else. 

tI should be 6 months before attempting the 2nd CC, for some its a minimum of 6 months to obtain a CLI on there 1st card or LOC. Some others can be lucky and get a CLI before 3 months, but this is becoming a more rare occurance than 2-3 years ago when this was automatic.

Mortgages with NFCU is not as simple as it seems, I went through it myself and I had over 740 scores at the time. The sticking point with NFCU is that they do base alot of there stuff around DTI, from loans to CC's. So if you have student loans/car loans already it makes it hard to get the amount you want with those things as a crutch on your side. Let's face it once one has a loans your already responsible for giving up and x amount on the check, if it was a cc balances they don't care as much since the monthly payment amounts can change. Loans is a set monthly payment amount for a x amount of time. DTI they expect to see is no higher than 38% total debt from last conversation in January/Febuary.

If you have balances on multiple cards and want to consolidate then use the LOC for it since it will still count as a revolving line, but atleast you have the debt rolled onto 1 line not multiple and its the easiest way to manipulate the credit scores to have just 1 revolving line with debt instead of multiple lowering your score. A lot of people have LOC but doesnt use them why I have no clue maybe they are just clueless on how to effectively use the thing. I use it all the time its my go to for when I have to consolidate my bills. ex. I pay my bills let it go to my loc when check goes in I pay my loc. It also effectively keeps all my cards with zero balance all the time if there is a balance I would rather leave it on my LOC unless I have 0% apr's going on other cards. I use my LOC so much that I get nothing but Home Equity Lines of credit pre appovals from BoA, Chase, Citi. I have been approved for Marcus loans and next step loan from Amex.

[CreditInspired]

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@AverageJoesCredit wrote:
Go get em CreditInspired

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[ls2016]

JustcallmeTM:

I agree with your statement that NFCU looks at DTI a little more so than some. My DTI is 32% and when I requested a CLOC, I was conditionally approved (pending a co-signer with good income), in which I did not follow through with. Then, I requested a CLI on my Cash Rewards (SL $14,300) card...I was denied, with a HP, for "Excessive Debt Obligations" in relation to income ($50,119 annually). Mortgage $943, Car payment $357, Student Loans $200, and a few more small monthly amounts.

Initially, I was shocked at the CLI denial (having read other posts), but I agree with their decision as I didn't need the increase or CLOC anyway. In my eyes, I don't think my DTI is bad, however Navy does, and that's that. To date, my DTI is around 35%, having financed a 2nd car for my daughter through Cap 1, since I was afraid of a denial through NFCU.

Just sharing my 2 cents!