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Navy Federal Uses Own Internal Score To Approve Credit?????

Community Leader
Super Contributor

Re: Navy Federal Uses Own Internal Score To Approve Credit?????


Kenny wrote:
I'm having difficulty finding a reason why I need a CC with NFCU. Smiley Sad

I'm sure with your portfolio you already have high limit cards and your cat spend is covered. Maybe down the road they may come in handy for a mortgage or auto/personal loan or ploc. You never know. Good to have them in your back pocket just in case. 😉

Message 41 of 47
Senior Contributor

Re: Navy Federal Uses Own Internal Score To Approve Credit?????

Kenny, I would also add that the relationship would be helpful if we have an economic repeat of 2008-2009. In that event, banks may jettison customers or slash credit limits. Fiscally solid and large credit unions are often less likely to do so.


Favorite Cards : ~ Citi Double Cash World Elite MasterCard ~
~ American Express Blue Cash Preferred ~ Chase Hyatt Visa Signature ~
~ Citi AAdvantage World Elite MasterCard ~ Citi Prestige ~ Alaska Airlines Visa Signature ~ Discover it Miles ~
Message 42 of 47
Senior Contributor

Re: Navy Federal Uses Own Internal Score To Approve Credit?????

I mean the above comment as no slight to really tiny local credit unions with one or two locations, but I'd rather be in with Navy instead of the little guy if the economy goes upside down.


Favorite Cards : ~ Citi Double Cash World Elite MasterCard ~
~ American Express Blue Cash Preferred ~ Chase Hyatt Visa Signature ~
~ Citi AAdvantage World Elite MasterCard ~ Citi Prestige ~ Alaska Airlines Visa Signature ~ Discover it Miles ~
Message 43 of 47
Moderator

Re: Navy Federal Uses Own Internal Score To Approve Credit?????


baller4life wrote:

Kenny wrote:
I'm having difficulty finding a reason why I need a CC with NFCU. Smiley Sad

I'm sure with your portfolio you already have high limit cards and your cat spend is covered. Maybe down the road they may come in handy for a mortgage or auto/personal loan or ploc. You never know. Good to have them in your back pocket just in case. 😉


Definitely. The mortgage is what I'm excited about whenever I do decide to buy my first great home. lol Smiley Happy 

Message 44 of 47
Community Leader
Super Contributor

Re: Navy Federal Uses Own Internal Score To Approve Credit?????

See I knew they could come in handy for something . 😉
Message 45 of 47
New Visitor

Re: Navy Federal Uses Own Internal Score To Approve Credit?????

My score was 301 but I received $17,900.00. I can't remember the interest rate. I applied for the n-rewards card? Is there a big difference?
Message 46 of 47
Highlighted
Valued Contributor

Re: Navy Federal Uses Own Internal Score To Approve Credit?????


CreditMagic7 wrote:

ddemari wrote:
My score was pretty low, I think it was like 286. But I still got 23,300.00 at 13.9%.

My score was 288 but i only got $4K Smiley Frustrated

 

Apr is 17% Blahhh but i got the time to work on getting some improvement maybe.

 

Just tickled pink to even get in with them at all. The goodies can wait for later.


I got 14K at 15.9% with 302.

 photo QS visa_zps7zokw2wl.jpg photo QS visa_zps7zokw2wl.jpg photo Venture One_zpsigvttrlz.jpg photo Sony Visa_zpsxoradr1b.jpg photo USC Reward_zpslcvjfxmq.jpg photo Penfed Promise_zpsdg1y2dw2.png photo NasaFcu_zpswac3zwcu.jpg photo America_zpsuwx8rzdm.jpg photo LA-Kings-card_zpslbkyeqsz.png photo Barclay_zpslqv3i4tl.jpg photo BBVA_zpsqrhh7omh.jpg
 photo nfcu debit card_zpsprkh98jw.png photo nfcu visa siggy_zps0gjgyxje.png/ photo nfcu goReward card_zpsixhh1qcp.jpg photo sdfcu platinum card_zpspilihdiv.png  photo penfed reward cash_zpsyckxjc7y.png photo alliant visa_zpsaf4udfx0.jpg photo Citi Secured_zpsypzxi0jm.png photo fnbo platinum_zpsxfub6esb.png photo marvel-credit-card_zpsfkvc3ux5.png photo golden 1 CU_zpslhgxynjv.pngBurned AECitiChase
Message 47 of 47