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Senior Contributor
Posts: 3,477
Registered: ‎11-30-2007
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Thoughts about NFCU in Sept.

Ok. paying down util from 50% to 20%...no collections, no public records, no charge offs...4 baddies will be one year old.
 
Score should range between 650-690.....
 
We want to begin finishing off the basement...so will need $10k to begin project...so should I first try a line of credit, home equity.....what's your thoughts?  The basement project should take us about $15k $17k...it's a $25k-$30k project with DH and friends doing a lot of the work.
 
Don't really need a credit card for this project.
Established Contributor
Posts: 878
Registered: ‎04-08-2008
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Re: Thoughts about NFCU in Sept.

Hey fish, Smiley Happy
 
I'm glad to see that you're paying down util from 50% to 20%.
If you're doing this for yourself, that's great. But high util is not
an issue with NFCU as long as you make your payments early
or on time. So if you already have a credit card with them and
are paying it as agreed, you're in great shape. Smiley Happy
 
If possible, I'd recommend the NAVCheck line of credit.
It's unsecured and you have the flexibility of choosing a minimum
monthly payment or fixed monthly payments (like an installment loan).
If push comes to shove you can always go with a home equity LOC,
but why take the risk if you don't need to? Smiley Happy
 
Anyway, that's my 2 cents. Please keep us posted on your progress.
Enjoy the day! Smiley Very Happy
 
CanDo
 
"The right attitude is everything"
Senior Contributor
Posts: 3,477
Registered: ‎11-30-2007
0

Re: Thoughts about NFCU in Sept.

I'm paying down to 20% for myself.  I have $11k on Chase for ds college expenses...way down from in the 50's....I'm going to get at least 2/3 of this paid off.  Tired of looking at it and seeing the bill.
 
I may be able to get it down to around 17%....Im not going to apply to NFCU until mid score is in the high 600's...plus I've yet to get the basement 100% cleared out.  I think I'm in denial.
 
 
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Senior Contributor
Posts: 4,831
Registered: ‎04-20-2007
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Re: Thoughts about NFCU in Sept.



fishbjc wrote:
I'm paying down to 20% for myself. I have $11k on Chase for ds college expenses...way down from in the 50's....I'm going to get at least 2/3 of this paid off. Tired of looking at it and seeing the bill.
I may be able to get it down to around 17%....Im not going to apply to NFCU until mid score is in the high 600's...plus I've yet to get the basement 100% cleared out. I think I'm in denial.



They will only pull your EQ and lower utilization will most definitely help your case.
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