topic Re: NFCU new member question in Credit Card Approvals

NFCU new member question

Anonymous — Thu, 28 Aug 2014 23:32:44 GMT

So I joined NFCU after reading so many positive stories on these forums. I click the "My Offers" tab and all it shows me is a box asking me to apply for the nRewards Secured Card. Does this mean I have been pre-screened and don't meet their criteria for one of the regular cards? My scores are 635, 637,638. I have some unpaid medical collections and a car repo from 2008 with a zero balance. I do not have any late payments on anything for the last 5 years. I have an installment loan for 10K that I used to pay off a bunch of really old cc collections and the car repo, but all of those show paid, zero balance. I also have a mortgage (since 2003) paid perfectly since 2009 and a USAA secured CC with a $300 limit (I know that sucks).

After reading all of the stories on here where people were getting NFCU cards with $3K credit limits despite their 580-620 credit scores, I was feeling optimistic. Now I'm not. I'm wondering now if it is worth the point hit for the inquiry if I am not approved. Apparently all they think I can do is another secured card. The Experian lady I talked to told me I could pick up another 10-15 points if I had a card with a credit limit over $1500. I guess that is not going to happen now? OR, am I reading too much into the "My Offers" tab? Does this even make sense to anyone?

Re: NFCU new member question

leegreen — Thu, 28 Aug 2014 23:45:28 GMT

I think you are reading to much into it. Go now and apply to whichever card you want. The cashRewards is popular. Come back here and post your results.

Re: NFCU new member question

baller4life — Thu, 28 Aug 2014 23:48:36 GMT

+1 App Cash Rewards. You will be fine!

Re: NFCU new member question

leegreen — Thu, 28 Aug 2014 23:50:42 GMT

Hey @baller I see you pulled yourself away from the citi thread!

Re: NFCU new member question

Anonymous — Thu, 28 Aug 2014 23:52:05 GMT

My USAA Card bill is $154 this month (limit is 300) and I have to pay it off tomorrow and wait for the score to refresh with zero balance before I apply for the NFCU card. How long does it usually take the 3 bureaus to update, say if I paid it to zero tomorrow?

Re: NFCU new member question

leegreen — Thu, 28 Aug 2014 23:54:35 GMT

Is that your only cc? If so let it post with about 20 bucks on ot.

Re: NFCU new member question

baller4life — Thu, 28 Aug 2014 23:56:49 GMT

@leegreen wrote:
@Anonymous @Anonymous I see you pulled yourself away from the citi thread!

Geez, it took off like a wildfire didn't it??? Everybody's excited about a new Citi card worth something.

Re: NFCU new member question

leegreen — Thu, 28 Aug 2014 23:57:59 GMT

Yeah I would be over there now accept I have to garden lol.

Re: NFCU new member question

Anonymous — Fri, 29 Aug 2014 00:21:57 GMT

That is my only cc and it is only 10 months old. Should I pay it to zero or leave 9% balance. I'm doing it tomorrow. Let me know which would be better. Also. How long should it take to reflect on the 3 credit reports

Re: NFCU new member question

leegreen — Fri, 29 Aug 2014 01:03:55 GMT

9% or less but not zero! It should be updated by 2 days after your statement close, check your credit karma.

Re: NFCU new member question

destine2grow — Fri, 29 Aug 2014 01:13:10 GMT

I would app now. My CS was low due to utilization and a lot of inquriies and my score is lower than urs and I was approve for 2.5k and approve for the 2k navycheck I apped for. Although I only have one CO account that will fall off in 2016. However I do have some 120 day lates on my student loans. Good luck!

Re: NFCU new member question

Anonymous — Fri, 29 Aug 2014 18:24:30 GMT

Well I just paid the USAA down to $10, Now I'll wait a week and recheck my scores before applying for the NFCU CC. I'm actually more worried about all of the medical collections knocking me out. I'm sure a computer would deny it instantly.

I have 11 collection accounts, which 6 are unpaid medical. The other 5 collections are paid to zero on my old CCs and car repo, I think the unpaid medical collections are going to be the death of me. I need to refinance my house to pay off the medical collections, but I can't refinance my house until I get my scores up. The easiest way to get the scores up would be a CC with a decent limit. It's like going in circles and a declined app is only going to make the situation worse. It is a very frustrating situation.

Re: NFCU new member question

leegreen — Fri, 29 Aug 2014 21:19:30 GMT

Do some research on the collections to see how you can improve your credit. Look at the statute of limitations for your state. You can start at the rebuilding my credit forum here on myFico. OR you could google credit repair collections forum and see what else is out there. The first non sponsored result looks good.

When you get the funds to pay the unpaid collection look up PFD before just paying them. There are legal ways to repair your credit.

I wouldn't worry too much about NFCU denying you unless you burned them in the past. You can send me a PM for more info.

Re: NFCU new member question

Anonymous — Wed, 03 Sep 2014 03:16:21 GMT

I had a car die today and in the process of freaking out about how to pay for a new transmission, I applied for the NFCU Cash Rewards Visa, even before waiting on my Util to come down below 50%. Within 30 seconds, I was approved for $6K. I think the rate was around 11.5 plus prime. Not too good, but I am so thankful for these guys, The limit itself should boost my score a good bit considering that i am coming from an 11 month old secured MC from USAA with a $300 llimit. These guys are amazing. My EQFX is 637 but that is from EXP.3 service reporting, a "Plus" score. This is with 5 paid CC collections and 1 paid repo, 5+ years old, as well as 6 unpaid medical collections, 2 years old. On the bright side, I have 2 paid installment loans and two that i am still paying. $$ range from $1k to 10K. Also a perfectly paid mortgage for nearly 5 years and the Secured USAA Mastercard $300 (Though only EQFX shows it a s secured). All said, I guess it is do able and I thank you all for your advice. What to do next I wonder?

Re: NFCU new member question

Anonymous — Wed, 03 Sep 2014 12:00:00 GMT

And you were so worried... Congrats!!!

Re: NFCU new member question

1GaDawg85 — Wed, 03 Sep 2014 14:08:54 GMT

Worried for nothing!

Re: NFCU new member question

Anonymous — Wed, 03 Sep 2014 14:19:16 GMT

I never would have tried if had not been for all of the positive comments on here. Hell, this time last year BOA denied me for a secured card! The shopping card trick has never produced a pop up and the only offers I ever get are crap cards with $200 worth of fees and high rates. I have to say I am still in a state of disbelief. I suppose it will all sink in once I see the card show up and it starts reporting. I think now I should stop using the USAA and just leave a couple bucks on it each month, or should I leave it at zero until it expires next year?

Someone also said I should try to have 3 revolving accts. Should I pay these two for a few more months and then try for Walmart or are there easier ones to get?

Re: NFCU new member question

BarryNTexas — Wed, 03 Sep 2014 14:47:18 GMT

Congrats on the Cash Rewards!

Work on those medical collections... I too have them on my report when I opened my NFCU accounts and it didn't keep them from approving me.

Google - whychat medical collections and check out that process. I just had TU remove all of my med collections in one dispute! Still waiting on the other two... but this process is successful, however can't be discussed here.

My Barclay's TU score changed this morning to 725.

Good Luck!

Re: NFCU new member question

BootStraps — Wed, 03 Sep 2014 14:58:39 GMT

@Anonymous wrote:

I had a car die today and in the process of freaking out about how to pay for a new transmission, I applied for the NFCU Cash Rewards Visa, even before waiting on my Util to come down below 50%. Within 30 seconds, I was approved for $6K. I think the rate was around 11.5 plus prime. Not too good, but I am so thankful for these guys, The limit itself should boost my score a good bit considering that i am coming from an 11 month old secured MC from USAA with a $300 llimit. These guys are amazing. My EQFX is 637 but that is from EXP.3 service reporting, a "Plus" score. This is with 5 paid CC collections and 1 paid repo, 5+ years old, as well as 6 unpaid medical collections, 2 years old. On the bright side, I have 2 paid installment loans and two that i am still paying. $$ range from $1k to 10K. Also a perfectly paid mortgage for nearly 5 years and the Secured USAA Mastercard $300 (Though only EQFX shows it a s secured). All said, I guess it is do able and I thank you all for your advice. What to do next I wonder?

If you can spare the pull, you may want to get a NFCU NavCheck (the Line of Credit) and then just baby the accounts so they grow up good and strong.

Re: NFCU new member question

Anonymous — Thu, 04 Sep 2014 00:24:47 GMT

What is the best way to grow them strong quickly? Quickly as in a year. Should I leave the USAA at zero and just use the NFCU for things like house payments? I really don't see the need for the USAA when the CD for security deposit expires next Oct. These do not "graduate", so what's the point?