08-07-2012 03:15 PM - edited 08-08-2012 10:06 AM
I decided to sign up for a savings and checking account through NFCU today because my dad is retired AF. I'm an AF vet as well but I didn't retire. I just got out after my enlistment ended. Nevertheless I'm pretty stoked because I've heard nothing but great things about these guys.
I already had an offer to refi my auto loan but I'm waiting until my score goes back up due to high utilization on my Credit cards. (50%). They should be reporting around 9% by the end of the month judging by when I get my credit alerts from Score Watch. I want to apply for a credit card with NFCU but I think it'll be wiser to wait considering I have a total of 11 inquiries right now
The majority of the inquiries was for an auto loan when I was shopping for the best rate. My scores are hovering around the 660's right now. One baddie on my EQ report (Lates on student loans that I'm in the process of getting removed due to the Direct Loans Rehab Program).
My question is, would it be better to wait to apply for a credit card with them once the inquiries fall off? It'll be around March 2014 for them to fall off. 2 years from date of inquiry
They approved me for a $7,500 limit cash rewards card!!!!!! Life is great!!!!!!!
08-07-2012 03:26 PM
08-07-2012 04:27 PM
Well I pulled the trigger and app'd. I applied over the phone as I read that it's better to go that way. It's going to the lending committe for further review and he told me to call back tomorrow in the afternoon. The rep stated that nothing popped out at him that would indicate a denial but we'll see. I'm trying to transfer all of my balances over to the cash rewards card. I'll find out tomorrow!
08-07-2012 04:29 PM
08-08-2012 10:19 AM
08-08-2012 10:22 AM
08-08-2012 01:26 PM
Just a note:
EQ FICO was 661
Cap1 Platinum - $100/$500CL
Cap1 Cash Rewards - $76/$500CL
Orchard Bank (HSBC now Cap1) - $139/$500CL
Walmart - $289/$1000CL
Had 11 inquiries and a current auto loan for $22.7k
Also had them do a BT for all of my cards. I'll most likely end up closing the Orchard Bank card and one of the Crap 1 cards as my fiance is adding me as an AU on her Golden 1 CU CC that has an excellent history of 5 years so I'm hoping it'll offsett the AAOA hit
I'm still in shock that I got such a decent credit limit. My APR isn't prime but it's better than my Crap1 cards for sure! 14.65%
It'll certainly help with my Utilization and DTI. I feel like I'm on cloud 9 right now. This is the highest limit I've ever recieved on a credit card. I'll cherish being a memeber for a long time to come!
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