Navy Federal CC question

[disney2]

I joined NFCU yesterday under the friends and family and got the savings and checking. I didn't apply for a CC but would like to. I'm not sure if they would approve me though and not sure I need to take the hit. Right now, my score is 608 with TU. I have 2 negatives, a collection, and several inquiries right now.

Ideas? I have no idea what scores they look for and what card would be easiest to get.

[creditguy]

All their cards with the exception of the Flagship (because of its minimum SL) basically have the same UW criteria, so no one card from the other cards are easier or harder to get, so apply for what you want not what you think you can get, a credit card approval is useless if the card doesn't suit your needs. A 608 TU can get you an approval, it may not have a great SL but nonetheless can be an approval. Of course nothing is guaranteed and YMMV, best of luck if you decide to take the plunge.

[takeshi74]

It's never just about score but you can refer to the Credit Pulls Database (Google to find) if desired.

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@disney2 wrote:
I have 2 negatives, a collection, and several inquiries right now.

Ideas? I have no idea what scores they look for and what card would be easiest to get.

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Work on the issues with your credit profile versus trying to rely on what you think you can get approved for.  Derogs are a serious concern for any creditor.  Hit the Rebuilding subofurm and see what you can do about what you have.  Apply when you get your credit in shape.

Inquiries are a small factor despite the tendency of people to obsess over them.  They'll have less impact for you if your report are clean than they will with your reports in their current shape.

[disney2]

That's exactly what I've been doing. I've been working on it for a while and am still working on clearing up the derogs. I'm also paying off the debt I have to reduce my usage. I was hoping to do this to reduce it quicker.

[Anonymous]

Navy is pretty good with non-pretty files per se
Off the bat I'd say you have a pretty decent chance of approval, even if you get denied immediately recon with your rebuild story and how you're working hard to 'pick yourself ' up and all.

The recon will be handled by a human being and more times than not they will slide you at least $500-$1000 CL then within short order you can CLI via the every other month AR

It seems to me NFCU likes adding on a credit product as new members come aboard....if you decide to wait, you will get an invite to apply sooner or later and I haven't seen too many invitation denials.

Good Luck and welcome to the Navy family!

[disney2]

Thank you for the encouragement. I decided to try for the cash reward card because of the $200 bonus. I was instantly approved for $1600! I'm excited to be with NFCU with all the good things I've read about them. Thank you for all the info!

[disney2]

How long does it take to get the CC card in from NFCU?  I still don't have it.

[Mattopotamus]

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@disney2 wrote:

How long does it take to get the CC card in from NFCU?  I still don't have it.

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I think mine took a week, maybe 7 business days.  If you apped on the 2nd, that Monday the 5th was a holiday, so it has only been 7 business days as of today.