Credit Cards

[Asailorshort]

As i type this, my bf is applying for nfcu membership so he can apply for their cash rewards card.  He has an income of 40k, no lates or derogs, but a very thin file with just one secured card (about 9 months old).  Per fako sites, his scores are in the low 700s.  (I keep trying to tell him he needs to see his actual Fico score ... But he just thinks i'm obsessed .... And he's probably right! :-).   Any guesses on 1. His chances of being approved? And 2. What CL they'll offer him?

[Creditaddict]

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Asailorshort wrote:

As i type this, my bf is applying for nfcu membership so he can apply for their cash rewards card.  He has an income of 40k, no lates or derogs, but a very thin file with just one secured card (about 9 months old).  Per fako sites, his scores are in the low 700s.  (I keep trying to tell him he needs to see his actual Fico score ... But he just thinks i'm obsessed .... And he's probably right! :-).   Any guesses on 1. His chances of being approved? And 2. What CL they'll offer him?

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With NAVY it's really so hard to guess because I have seen people with just 1 $300 credit line open and tons of collections in past over year old or what not and get $8+k instantly.

Apply and see in just an hour or so and update back... he will also get his credit score at same time to settle your obsession!!!

make him get walmart so you can see his TU fico monthly!!! HAHA

[improvingmycredit]

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Asailorshort wrote:

As i type this, my bf is applying for nfcu membership so he can apply for their cash rewards card.  He has an income of 40k, no lates or derogs, but a very thin file with just one secured card (about 9 months old).  Per fako sites, his scores are in the low 700s.  (I keep trying to tell him he needs to see his actual Fico score ... But he just thinks i'm obsessed .... And he's probably right! :-).   Any guesses on 1. His chances of being approved? And 2. What CL they'll offer him?

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My guess- 7K.  Good luck!  

[Asailorshort]

Thanks.  We werent able to apply online last night (probably because they have to verify something as he's piggybacking off my membership and we're not married).  So we'll have to wait a few more days to find out.  It will be awesome to get his score though.  But i have to resist the urge to get too involved in his credit.  When he gets in with nfcu, he'll (hopefully) get a cc with them and then we'll use them to refinance his car with his name on it too.  He'll then have 3 open positive TLs and will be in good shape.

[trumpet-205]

Because your BF have limited credit history his credit score means nothing. High credit score cannot cover the fact that you have thin file. One reason why you should never get too in love with credit score, because it can be biased/skewed.

[webhopper]

I'm going to be conservative and guess 2500 due to limited history... Range would be 2500 to 5000

[Dustink]

Decline......

Just had to throw that out there since there is always that chance.

[noel194]

My intial CL was 2K  After 6 mos I asked for an increase 5K approved after Hurricane Sandy they sent an email saying that they were offering CLI to those affect I replied and CL increased to $7500.

[rootpooty]

Being he's a new member with an ultra thin file I would say 2k. Take care of it for 6 mos then more then likely see an increase to 5k.

[Duncanrr]

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Dustink wrote:

Decline......

Just had to throw that out there since there is always that chance.

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You taking lessons from LS?

As a recently approved NFCU credit card carrying member of myFICO, I wish yall the best.  My guess 3-5k.