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Established Contributor
Posts: 925
Registered: ‎04-14-2016

Re: NLUS San Diego alive and well


humuhumunukunukuapuaa wrote:

vintagephone wrote:

Hi everyone:  I'm trying to read through the hundreds of pages of posts from the old and current threads, but it's a lot.  I gather that NFCU offers credit cards to those with less than stellar credit, and I'm looking for one to help rebuild my credit.  Should I try to get one with a score of 550? (I'm just starting to rebuild).  Or is that too low to bother?  Thanks.


Hi vintagephone,

 

Welcome to myfico! May I suggest, for best chances of success when applying to Navy Federal, that you wait just a bit until your score is in the 600's? That is not to say you may not get approved with a 550, but your chances would be much stronger if you wait until you are in the 600's. It's a good idea to present your best possible profile when applying for credit.

 

You may also consider starting with a Navy Federal secured card and maintain a positive history with that until it becomes unsecured.

 

Good luck and enjoy myfico - there is much helpful information here, and some wonderful people as well! Smiley Happy


+1

 

With your scores I'd go secured - if you do, then here is you expected (YMMV) timeline - these expectations assume you continue builing your credit and improving your scores:

 

5-6 months later: card unsecures with a modest CLI

 

6 months after that: you get a CLI to a ludicrous credit limit

 

Good Luck!






BK7 Discharged 4/27/2016 - Fico 8 as of 04/27/2017: EX 658 / TU 662 / EQ 678 - Follow my Journey Here
Regular Contributor
Posts: 191
Registered: ‎04-10-2015
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Re: NLUS San Diego alive and well

I've always wanted a Navy Fed account and am really tempted to join now that this option is available, but I'm hesitant to get a fresh hard pull. Do they do a HP just to join with a standard membership savings account?


79K Available Credit | EQ 771 TU 778 EX 777 | Re-Entered Garden 5/1/2016
Regular Contributor
Posts: 192
Registered: ‎12-07-2016

Re: NLUS San Diego alive and well

yes they do a HP for membership.  TU for me.  I'd say it's worth an inquiry to get in.


BK 7 Starting Scores (12/2016): EQ-528. TU-486. EX-530.
Current Scores (4/2017): EQ-642. TU-646. EX-655.
Goal for 2017: 650's. - almost there!!
Regular Contributor
Posts: 191
Registered: ‎04-10-2015
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Re: NLUS San Diego alive and well


enjoimorenow wrote:

yes they do a HP for membership.  TU for me.  I'd say it's worth an inquiry to get in.


That's a shame. Smiley Sad I am still tempted but honestly there aren't any products I currently want, so it's hard to justify. More just wanting the membership. Vaguely considering the slim possibility of a mortgage in the not-to-distant future, so I wouldn't mind access to Navy Fed to have them as an option if that actually happened, at the same time I wouldn't want the HP on my file when apping.


79K Available Credit | EQ 771 TU 778 EX 777 | Re-Entered Garden 5/1/2016
Regular Contributor
Posts: 192
Registered: ‎12-07-2016
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Re: NLUS San Diego alive and well

[ Edited ]

Well, only you can decide if it's worth it to you....

 

Imo might as well get it over with so it can start to age, because you're gonna have to take the HP for membership regardless of if you do it now, or debate it for 5 months and then have to take two HPs at once for membership and mortgage.

 

It can be worth it to get a couple high limit CCs to pad utilization, CLOC for emergency, auto and mortgage at low rates.  Your call, but at the end of the day one inquiry really isn't that big of a deal imo.

 

They have a $200 offer for cash rewards right now which you could use to replace your quicksilver... just an idea and would be worth it for the $200 sign up bonus.


BK 7 Starting Scores (12/2016): EQ-528. TU-486. EX-530.
Current Scores (4/2017): EQ-642. TU-646. EX-655.
Goal for 2017: 650's. - almost there!!
Established Member
Posts: 36
Registered: ‎11-26-2016
0

Re: NLUS San Diego alive and well

I was excepted to NFCU earlier this week...yay! How long before you noticed the HP on MF? I pay for MF service and I'm not seeing a HPN on any bureau. I got my NFCU welcome email Tuesday. How long is the HP good for?


Started Gardening 12/23/16

MyFico: 12/03/16 EQ: 594 TU: 644 EX: 637
MyFico: 12/23/16 EQ: 597 TU: 652 EX: 653
Regular Contributor
Posts: 192
Registered: ‎12-07-2016
0

Re: NLUS San Diego alive and well

Whenever NFCU pulls TU for me I get a notification right away from Credit Karma, but it takes a couple days for the notification on MyFico for some reason.

 

Navy does not reuse pulls, so you will get another HP to apply for a credit product.

 

Only exception to this is that some people have gotten them to use the same pull when applying for a loan and CLOC in the same day but they don't reuse a membership pull for a CC or a CC pull for CLOC or auto loan.


BK 7 Starting Scores (12/2016): EQ-528. TU-486. EX-530.
Current Scores (4/2017): EQ-642. TU-646. EX-655.
Goal for 2017: 650's. - almost there!!
New Contributor
Posts: 64
Registered: ‎05-24-2016
0

Re: NLUS San Diego alive and well

Someone please correct me if Im worng. If one would like to attempt to open a secured card with Navy Fed you must first donate and be a memeber of the SD chapter(HP for this) This then makes you eligible to apply for a scured card with their CU which would then result in another HP+a 500 deposit IF approved. Has anyone working on their credit seccessfully pulled this one off? Seems a bit tough, how would the timing work? First donate then wait to be approved then apply for a secured card? Thanks!

Senior Contributor
Posts: 6,917
Registered: ‎06-22-2015

Re: NLUS San Diego alive and well

[ Edited ]

steelholder wrote:

Someone please correct me if Im worng. If one would like to attempt to open a secured card with Navy Fed you must first donate and be a memeber of the SD chapter(HP for this) This then makes you eligible to apply for a scured card with their CU which would then result in another HP+a 500 deposit IF approved. Has anyone working on their credit seccessfully pulled this one off? Seems a bit tough, how would the timing work? First donate then wait to be approved then apply for a secured card? Thanks!


 

I think you are mixing organizations up a bit here, so I will try to help.

 

1) The Navy League San Diego Council is the organization you join to become eligible to be a Navy Federal Credit Union member. They are two different organizations. You need to join the San Diego Council specifically to be eligible.

 

2) The Navy League is not a bank nor credit union and they do not do any pulls of credit.

 

3) You then send your Navy League San Diego Council membership documents over to Navy Federal Credit Union along with your application for the credit union, plus any other required identification documents. Some myfico members have been required to provide ID and proof of residency; others have not.

 

4) Once you apply to Navy Federal Credit Union to be a credit union member, Navy Federal will do one hard pull for membership. If you apply for any other credit products, Navy Federal will do a hard pull for each credit product for which you have applied.

 

5) Read through this thread for additional tips on how to apply, as it walks you right through the process. You can apply for Navy League San Diego Council Membership online. Once that is approved, the fastest way to get things rolling with Navy Federal Credit Union is to send the Navy Federal membership application and other required documents through the postal mail.

 

6) You can only apply for a credit card once everything is fully approved. Complete membership first, then apply for credit product(s).

 

Hope this helps a bit, and if you read the information in this thread, it will assist you through the process. Good luck! Smiley Happy



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New Contributor
Posts: 64
Registered: ‎05-24-2016

Re: NLUS San Diego alive and well

Thanks Humu, has anyone ever become a member of the SD chapter and then been rejected when attempting to join the CU?

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