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Established Contributor
mymy
Posts: 510
Registered: ‎04-20-2007
0

Navy Fed LOC, CLI ?

i am wondering if anyone has done a CLI with Navy Fed, on the NaVcheck LOC?
 
my CL now is 15K and i got that whith EQ score 679 about 3 months ago, my EQ now is 702, any chance of a CLI? 
 
thanks
Regular Contributor
timber
Posts: 131
Registered: ‎09-28-2007
0

Re: Navy Fed LOC, CLI ?

I think you're already at the max for NFCU Navchek LOC. Their terms say max CL of 15K.

I'm at 10K hoping to go to 15K at my 1 year anniversary or by end of the year.
Established Contributor
mymy
Posts: 510
Registered: ‎04-20-2007
0

Re: Navy Fed LOC, CLI ?

thanks timber...
 
i went back and found the fine print:smileysurprised:
 
can you have both a NavChek AND signature LOC?
Established Contributor
FaircreditguyFL
Posts: 665
Registered: ‎03-31-2007
0

Re: Navy Fed LOC, CLI ?



mymy wrote:
thanks timber...
i went back and found the fine print:smileysurprised:
can you have both a NavChek AND signature LOC?



Your LOC CAN be higher than $15,000 but it requires financial documentation. Yes, you can have NavCheck LOC and signature LOAN.
Senior Contributor
FretlessMayhem
Posts: 3,279
Registered: ‎08-03-2007
0

Re: Navy Fed LOC, CLI ?



FaircreditguyFL wrote:


mymy wrote:
thanks timber...
i went back and found the fine print:smileysurprised:
can you have both a NavChek AND signature LOC?



Your LOC CAN be higher than $15,000 but it requires financial documentation. Yes, you can have NavCheck LOC and signature LOAN.




What is the difference between the signature loan and the NavCheck? I always assumed the signature loan was a standard installment loan.
Here we go again...
Moderator Emeritus
cheddar
Posts: 6,794
Registered: ‎09-29-2007
0

Re: Navy Fed LOC, CLI ?



FretlessMayhem wrote:


FaircreditguyFL wrote:


mymy wrote:
thanks timber...
i went back and found the fine print:smileysurprised:
can you have both a NavChek AND signature LOC?



Your LOC CAN be higher than $15,000 but it requires financial documentation. Yes, you can have NavCheck LOC and signature LOAN.




What is the difference between the signature loan and the NavCheck? I always assumed the signature loan was a standard installment loan.

It is.  A signature loan is a standard installment loan, while the NavCheck is a revolving LOC.

 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )
Established Contributor
CanDoAttitude
Posts: 878
Registered: ‎04-08-2008
0

Re: Navy Fed LOC, CLI ?

Hey Fretless, :smileyhappy:
 
Navy Fed just approved me for both of those products last week,
so I can answer that question.
 
NAVChek is a Line of Credit (LOC). The current rate is 12.5%
and it reports to the credit bureaus as a revolving account just
like a credit card. Limits range from $500 to $15,000 max.
 
A Signature Loan is an installment loan (just like a car loan).
Rates are 11-18% depending on your Equifax FICO score.
I'm not sure of the limits, but many forum members have reported
getting 10-15k. The length of the installment loan is 1 to 5 years.
 
Hope this helps. Enjoy the day! :smileyvery-happy:
 
 
CanDo
 
"The right attitude is everything"
 
 
Senior Contributor
FretlessMayhem
Posts: 3,279
Registered: ‎08-03-2007
0

Re: Navy Fed LOC, CLI ?

Thanks Cheddar and CanDo. That's what I thought it was, but for some reason I got the impression it was another type of revolving account based on the way I read the post.
Here we go again...
Established Contributor
mymy
Posts: 510
Registered: ‎04-20-2007
0

Re: Navy Fed LOC, CLI ?

when i applied  and was approved for my LOC, i had to send them some additional info like pay stubs and employment verification...
then i was approved....
 
if i apply for a signature loan, do you think i would need to supply them with the same info, or do they go by the info i already sent them?
Valued Member
aer7372
Posts: 41
Registered: ‎04-23-2008
0

Re: Navy Fed LOC, CLI ?

I have both the Signature and LOC.  I've had the LOC for 2 1/2 months and asked for a CLI from $4000 to $8000 and was granted it after 24 hours.  I didn't need to send any additional documentation.  It showed online the next day.

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