Reply
New Contributor
Posts: 113
Registered: ‎01-07-2011
0

Navy Fed Visa Signature Question

All,

 

Was thinking of doing a product change from the Nrewards over to the Visa Signature. I have been reading about how the world MC/visa sig report so I decided to call NFCU. The rep was only able to advise me that NFCU doesn't report it as a no limit card but Visa may require it to be reported that way. Does anyone actually have this card and can verify how it actually reports? Getting ready to apply for a mortgage next week so don't want to mess that up so I should probably just wait in the first place. I'm just curious now as I planned to switch cards today.

Valued Contributor
Posts: 3,302
Registered: ‎06-09-2010
0

Re: Navy Fed Visa Signature Question


werty7777 wrote:

All,

 

Was thinking of doing a product change from the Nrewards over to the Visa Signature. I have been reading about how the world MC/visa sig report so I decided to call NFCU. The rep was only able to advise me that NFCU doesn't report it as a no limit card but Visa may require it to be reported that way. Does anyone actually have this card and can verify how it actually reports? Getting ready to apply for a mortgage next week so don't want to mess that up so I should probably just wait in the first place. I'm just curious now as I planned to switch cards today.


As I can not answer anything as far as NFCU credit cards are concerned I can offer my opinion and agree you should not be doing anything while in the mortgage process or getting ready to begin the mortgage process. It is possible it will have no adverse reaction to your mortgage application but why risk it?

 

Good Luck with your decision and new home purchase!

Good Luck
May all your dreams and wishes become a reality!
New Contributor
Posts: 113
Registered: ‎01-07-2011
0

Re: Navy Fed Visa Signature Question


JM-AM wrote:

werty7777 wrote:

All,

 

Was thinking of doing a product change from the Nrewards over to the Visa Signature. I have been reading about how the world MC/visa sig report so I decided to call NFCU. The rep was only able to advise me that NFCU doesn't report it as a no limit card but Visa may require it to be reported that way. Does anyone actually have this card and can verify how it actually reports? Getting ready to apply for a mortgage next week so don't want to mess that up so I should probably just wait in the first place. I'm just curious now as I planned to switch cards today.


As I can not answer anything as far as NFCU credit cards are concerned I can offer my opinion and agree you should not be doing anything while in the mortgage process or getting ready to begin the mortgage process. It is possible it will have no adverse reaction to your mortgage application but why risk it?

 

Good Luck with your decision and new home purchase!


FYI I should add I will be mortgage apping with NFCU as well.

Valued Contributor
Posts: 3,302
Registered: ‎06-09-2010
0

Re: Navy Fed Visa Signature Question


werty7777 wrote:

JM-AM wrote:

werty7777 wrote:

All,

 

Was thinking of doing a product change from the Nrewards over to the Visa Signature. I have been reading about how the world MC/visa sig report so I decided to call NFCU. The rep was only able to advise me that NFCU doesn't report it as a no limit card but Visa may require it to be reported that way. Does anyone actually have this card and can verify how it actually reports? Getting ready to apply for a mortgage next week so don't want to mess that up so I should probably just wait in the first place. I'm just curious now as I planned to switch cards today.


As I can not answer anything as far as NFCU credit cards are concerned I can offer my opinion and agree you should not be doing anything while in the mortgage process or getting ready to begin the mortgage process. It is possible it will have no adverse reaction to your mortgage application but why risk it?

 

Good Luck with your decision and new home purchase!


FYI I should add I will be mortgage apping with NFCU as well.


Well then I will add that the mortgage process isn't really that bad if you have all your t's crossed and i's dotted. If no hick-ups in application and or scores you should close with-in 30-45 days. I know many people complaining how long the process takes but most of them have either lower scores, weaker incomes, and very high DTI or a combination of them. My just recent purchase took me exactly 11 business days from application to close. Once close you can product change if that is something you still want to do. I wouldn't give the underwriters any reason as to deny my mortgage application just my 3 cents worth!

Good Luck
May all your dreams and wishes become a reality!
Community Leader
Valued Contributor
Posts: 1,057
Registered: ‎09-29-2009
0

Re: Navy Fed Visa Signature Question

I have the Platinum and I can tell you that they do report CL on that. It's at 16.5K so well over the 5K minimum for signature cards. I also have the NAVCHECK and they report the CL on that also.


werty7777 wrote:

All,

 

Was thinking of doing a product change from the Nrewards over to the Visa Signature. I have been reading about how the world MC/visa sig report so I decided to call NFCU. The rep was only able to advise me that NFCU doesn't report it as a no limit card but Visa may require it to be reported that way. Does anyone actually have this card and can verify how it actually reports? Getting ready to apply for a mortgage next week so don't want to mess that up so I should probably just wait in the first place. I'm just curious now as I planned to switch cards today.


I have the NFCU VISA Platinum and they report the CL on that. It's at 16.5K so well over the 5K minimum for signature. I also have the NAVCHECK and they report the limit. Seems like I have seen other posts reporting all NFCU cards include the CL in reporting. Don't really know if a PC would have any effect on the mortgage review. If you call in and ask to speak with one of their mortgage reps they could probably answer that for you. NFCU Customer Service has alway's been a "10" for me.

Best financial advice I ever got: "Just imagine what an adult would do and do that."

Starting Score: 500's
Current Score: EQ 701 (FICO) TU 721 (FICO) EX 715 (Quizzle)
Goal Score: 760 ALL


Take the FICO Fitness Challenge

New Contributor
Posts: 113
Registered: ‎01-07-2011
0

Re: Navy Fed Visa Signature Question


HoldingOntoHope wrote:

I have the Platinum and I can tell you that they do report CL on that. It's at 16.5K so well over the 5K minimum for signature cards. I also have the NAVCHECK and they report the CL on that also.


werty7777 wrote:

All,

 

Was thinking of doing a product change from the Nrewards over to the Visa Signature. I have been reading about how the world MC/visa sig report so I decided to call NFCU. The rep was only able to advise me that NFCU doesn't report it as a no limit card but Visa may require it to be reported that way. Does anyone actually have this card and can verify how it actually reports? Getting ready to apply for a mortgage next week so don't want to mess that up so I should probably just wait in the first place. I'm just curious now as I planned to switch cards today.


I have the NFCU VISA Platinum and they report the CL on that. It's at 16.5K so well over the 5K minimum for signature. I also have the NAVCHECK and they report the limit. Seems like I have seen other posts reporting all NFCU cards include the CL in reporting. Don't really know if a PC would have any effect on the mortgage review. If you call in and ask to speak with one of their mortgage reps they could probably answer that for you. NFCU Customer Service has alway's been a "10" for me.


I know that the platinum and nrewards report the CL but due to "visa rules" the signature may not. No one have this card out there? 

Valued Contributor
Posts: 1,413
Registered: ‎01-20-2008
0

Re: Navy Fed Visa Signature Question

[ Edited ]

Are you talking about this one?

 

Visa Signature® Flagship Rewards

Superior Travel Rewards and Preferred Discounts
  

Annual Percentage Rate

Annual Fee

Credit Line

Rewards Points and Perks

$49

$5,000 minimum

Earn one point with every $1 of net purchases

Point Redemption

Rewards Return

Start redeeming at 10,000 points for travel-related rewards.

 
Not Enrolled in Account Access?

Get started here

Sample Rewards:

  • 15,000 points for $300 roundtrip airline ticket
  • 30,000 points for $600 roundtrip airline ticket
  • 50,000 points for $750 cash back
Rewards up to 2% return on each dollar spent

Point Limits

120,000 points annually

Point Expiration
5 years

 

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
It's very tough with small income ~ The Rewards are big little helper to me.
Frequent Contributor
Posts: 266
Registered: ‎10-04-2009
0

Re: Navy Fed Visa Signature Question

It reports the credit limit. Looks no different on your report than their nRewards.

New Contributor
Posts: 113
Registered: ‎01-07-2011
0

Re: Navy Fed Visa Signature Question


bunnyrabbit wrote:

Are you talking about this one?

 

Visa Signature® Flagship Rewards

Superior Travel Rewards and Preferred Discounts
  

Annual Percentage Rate

Annual Fee

Credit Line

Rewards Points and Perks

$49

$5,000 minimum

Earn one point with every $1 of net purchases

Point Redemption

Rewards Return

Start redeeming at 10,000 points for travel-related rewards.

 
Not Enrolled in Account Access?

Get started here

Sample Rewards:

  • 15,000 points for $300 roundtrip airline ticket
  • 30,000 points for $600 roundtrip airline ticket
  • 50,000 points for $750 cash back
Rewards up to 2% return on each dollar spent

Point Limits

120,000 points annually

Point Expiration
5 years

 


Yes, that is it.

 

New Contributor
Posts: 113
Registered: ‎01-07-2011
0

Re: Navy Fed Visa Signature Question


bostonte wrote:

It reports the credit limit. Looks no different on your report than their nRewards.


So you have this card? What is you overall opinion of it?

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.