topic Re: I just had to do it (update on My NASA FCU experience) in Credit Card Approvals

I just had to do it (update on My NASA FCU experience)

Slim1Der — Wed, 23 Jul 2014 23:45:22 GMT

After getting an instant approval for the Cash Rewards VISA I decided to take it a step further. I remember what they told me about if I wanted to apply for any other loan, they could use my existing application as long as it was within 30 days. So I applied for a personal LOC. I read the terms and disclosures and saw that the aggregate amount of credit is $50,000 including credit cards, so I asked for $25,000.

I was going to seek the advice of this forum prior to clicking the SUBMIT button, but...

Anyways, got the "need 2-3 days to review your application" page and thought...ok, my luck just ran out. Then not even 1 hour later I get an email from them:

Congratulations! Your Personal Line of Credit application has been approved.

Personal Line of Credit Approval Details:

Credit Limit: $ 5,000.00

Rate: 9.250% APR

Minimum Monthly Payment: 2% of your total balance, or $25, whichever is greater

No, it's not the $25,000 that I requested, but it's not a DENIED either!

So, I've never had a LOC before, but I believe that I'll get a check book to access the line of credit right?

I think it's time to go to this "Garden" place that you all talk about now...

Re: I just had to do it (update on My NASA FCU experience)

BluePoodle — Thu, 24 Jul 2014 01:00:36 GMT

@Slim1Der wrote:
After getting an instant approval for the Cash Rewards VISA I decided to take it a step further. I remember what they told me about if I wanted to apply for any other loan, they could use my existing application as long as it was within 30 days. So I applied for a personal LOC. I read the terms and disclosures and saw that the aggregate amount of credit is $50,000 including credit cards, so I asked for $25,000.

I was going to seek the advice of this forum prior to clicking the SUBMIT button, but...

Anyways, got the "need 2-3 days to review your application" page and thought...ok, my luck just ran out. Then not even 1 hour later I get an email from them:

Congratulations! Your Personal Line of Credit application has been approved.

Personal Line of Credit Approval Details:

Credit Limit: $ 5,000.00

Rate: 9.250% APR

Minimum Monthly Payment: 2% of your total balance, or $25, whichever is greater

No, it's not the $25,000 that I requested, but it's not a DENIED either!
So, I've never had a LOC before, but I believe that I'll get a check book to access the line of credit right?

I think it's time to go to this "Garden" place that you all talk about now...

Congratulations! Thanks for sharing

Re: I just had to do it (update on My NASA FCU experience)

Kenny — Thu, 24 Jul 2014 01:01:53 GMT

@Slim1Der wrote:
After getting an instant approval for the Cash Rewards VISA I decided to take it a step further. I remember what they told me about if I wanted to apply for any other loan, they could use my existing application as long as it was within 30 days. So I applied for a personal LOC. I read the terms and disclosures and saw that the aggregate amount of credit is $50,000 including credit cards, so I asked for $25,000.

I was going to seek the advice of this forum prior to clicking the SUBMIT button, but...

Anyways, got the "need 2-3 days to review your application" page and thought...ok, my luck just ran out. Then not even 1 hour later I get an email from them:

Congratulations! Your Personal Line of Credit application has been approved.

Personal Line of Credit Approval Details:

Credit Limit: $ 5,000.00

Rate: 9.250% APR

Minimum Monthly Payment: 2% of your total balance, or $25, whichever is greater

No, it's not the $25,000 that I requested, but it's not a DENIED either!
So, I've never had a LOC before, but I believe that I'll get a check book to access the line of credit right?

I think it's time to go to this "Garden" place that you all talk about now...

Congratulations on your approval! Thanks for sharing.

Re: I just had to do it (update on My NASA FCU experience)

coldnmn — Thu, 24 Jul 2014 01:13:43 GMT

Congrats! Thanks for sharing.

Re: I just had to do it (update on My NASA FCU experience)

gdale6 — Thu, 24 Jul 2014 01:53:32 GMT

Grats on your PLOC approval

Re: I just had to do it (update on My NASA FCU experience)

Anonymous — Thu, 24 Jul 2014 12:06:13 GMT

Congrats!

Re: I just had to do it (update on My NASA FCU experience)

alvon123 — Thu, 24 Jul 2014 16:26:45 GMT

congrats

Re: I just had to do it (update on My NASA FCU experience)

-Wade- — Thu, 24 Jul 2014 19:42:04 GMT

@Slim1Der wrote:
After getting an instant approval for the Cash Rewards VISA I decided to take it a step further. I remember what they told me about if I wanted to apply for any other loan, they could use my existing application as long as it was within 30 days. So I applied for a personal LOC. I read the terms and disclosures and saw that the aggregate amount of credit is $50,000 including credit cards, so I asked for $25,000.

I was going to seek the advice of this forum prior to clicking the SUBMIT button, but...

Anyways, got the "need 2-3 days to review your application" page and thought...ok, my luck just ran out. Then not even 1 hour later I get an email from them:

Congratulations! Your Personal Line of Credit application has been approved.

Personal Line of Credit Approval Details:

Credit Limit: $ 5,000.00

Rate: 9.250% APR

Minimum Monthly Payment: 2% of your total balance, or $25, whichever is greater

No, it's not the $25,000 that I requested, but it's not a DENIED either!
So, I've never had a LOC before, but I believe that I'll get a check book to access the line of credit right?

I think it's time to go to this "Garden" place that you all talk about now...

Congrats on on your success

Re: I just had to do it (update on My NASA FCU experience)

BigBS — Thu, 24 Jul 2014 19:49:49 GMT

Congrats!

Re: I just had to do it (update on My NASA FCU experience)

Forte747 — Fri, 25 Jul 2014 01:22:39 GMT

Congrats OP. Just like NFCU, NASA is another great Bank to keep.

Re: I just had to do it (update on My NASA FCU experience)

mark293 — Fri, 25 Jul 2014 03:01:50 GMT

Nooooooo Slim. You are making me want to shoot for the LOC!!!!

Re: I just had to do it (update on My NASA FCU experience)

ChargeItPlease — Fri, 25 Jul 2014 06:11:03 GMT

Congrats.

I don't know if you get a checkbook, maybe you access it through your ATM card. My only LOC has been with Cap1 360, and we use our debit card or ACH transfer.

Re: I just had to do it (update on My NASA FCU experience)

mark293 — Fri, 25 Jul 2014 13:35:17 GMT

Well Slim, I followed your lead and applied for the LOC in the amount of 25k.. I received an instant response of "congrats" and it listed an APR of 8.25. Do you think I received the full amount requested? I guess I'll just have to wait for the email response listing details.

Thanks for all your help and congrats on your credit success.

Re: I just had to do it (update on My NASA FCU experience)

mark293 — Fri, 25 Jul 2014 13:52:59 GMT

I just received the confirmation email. It's for the full 25k. Awesome, but I'm worried about PenFed taking negative action. I heard they are bad about that.

Re: I just had to do it (update on My NASA FCU experience)

youdontkillmoney — Fri, 25 Jul 2014 14:03:31 GMT

Congratulations on the PLOC! Very nice option to have. Usually you can go onlineand transfer from the PLOC to your checking (if you have a checking account with them too) or access via checks; one of my PLOCs from US Bank gives me a card (looks like a credit card), but it is just to access the PLOC as an option, usually if I use it I just transfer funds from PLOC to my US Bank checking and go from there.

Re: I just had to do it (update on My NASA FCU experience)

Slim1Der — Fri, 25 Jul 2014 17:00:54 GMT

@mark293 wrote:
I just received the confirmation email. It's for the full 25k. Awesome, but I'm worried about PenFed taking negative action. I heard they are bad about that.

MARK! CONGRATS ON THE FULL APPROVAL!

Just an FYI, if you don't hear from them, send a SM asking them if they need any additional information. They just left my counteroffer in pending status until I sent them a SM asking whats up. Turns out I got stip'd for a utility bill that they never asked me for. Just sent it in no problem, but I was curious why thy couldn't use the one that I sent them when I opened my account. None the less, they should be sending my loan docs out soon.

BTW, you have CRAZY amounts of credit! NASA just added a few more bucks at your disposal! Good luck!