Best way to develop relationship with NFCU

[earena]

I just opened my savings account to start my relationship with them. Turns out I forgot I had a joint account with my exhusband back in 2010, so even with this new account that is showing in my history. Anyways, is a savings account enough or should I open a checking account. I bank with BOA, it is so easy with my accounts, although I think sometimes their practices are a little shady. (Holding checks until you're .50 cents short, then cashing and bouncing evrything..) I'm want to get an auto loan in about 6 months. Should I immediately apply for a card or wait a couple months?

[takeshi74]

Don't rely on "relationship".  It may help to some small degree in some cases but the primary considerations with any creditor will be your credit profile and income.  If you qualify you qualify.  Relationship will not overrule major issues with credit profile and/or income.  If your profile has major issues then get to work on them.  Don't assume that holding accounts with the creditor will make them overlook issues with your profile.

If you need help identifying and addressing issues then definitely ask.

[earena]

Thank you! I know that credit history is everything. I guess I am just wondering what most people have with them. Just a savings, a checking account, only credit cards?

[UncleB]

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@earena wrote:

Thank you! I know that credit history is everything. I guess I am just wondering what most people have with them. Just a savings, a checking account, only credit cards?

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To give you a data point, I only have the required saving/share account with NFCU with a balance of around $100.  The day I got my membership, I had $5 in my share account (which is required for membership) and they gave me a MasterCard with a $15.3k credit line.  The deposit account clearly had no bearing in their decision, at least in my case.

If you have a checking account with them with direct deposit, it has been said by a few folks that it's easier for them to verify your income (since they literally 'see' the funds come in) but this is definitely not required.  Most of the time if your scores are even 'average', they are known to be generous and don't require verification of anything.

Hope this helps! 

[Anonymous]

+100^ , I started out with a $5 share account and applied for a cc and they gave me $10k.  In my case their offers and treatment made me want to start a relationship with them. I only have about $7 in the share acount however, I now have direct deposit with them as well as two auto loans and the cloc, but it all started with their treatment of me.

[earena]

Thanks! I am going to wait a month for some cards to report 1% utilization, then go for a card.

[All4One]

Another consideration regarding getting an auto loan.  You'll probably want to minimize your credit inquiries beforehand. It may be worth waiting until afterwards if you can hold off.