topic Re: NFCU Home Run! in Credit Card Approvals

NFCU Home Run!

UncleB — Fri, 13 Nov 2015 06:56:21 GMT

I joined NFCU today, and after some gentle 'nudging' from some of my friends here, I hesitantly app'd for a credit card with them.

My goal was to get a low APR card; I have plenty of rewards cards already.

Well, here's what happened...

I can't thank everybody enough... I genuinely mean that. This is more than double my highest credit lines, and the APR is 6% lower as well.

Until I have the card in my hand I won't allow myself to 'count' it, it's that surreal for me. My USAA approval last year for $7k was the same - until I had the card in my hand I was afraid they would contact me and tell me it was a mistake, but they never did. Hopefully NFCU won't change their mind either!

Again, HUGE THANKS to everybody on here for their support, encouragement, wisdom, and gentle 'nudging' when I was on the fence.

Re: NFCU Home Run!

Anonymous — Fri, 13 Nov 2015 06:55:10 GMT

congrats sir. they stick to their guns and i haven't seen AA from them on here. most credit unions don't go back on their lending. again i am very happy you got something you're super proud of. that honestly made my night seeing you be approved. you're happier than your discover and SAMs credit cards combined lol

Re: NFCU Home Run!

Anonymous — Fri, 13 Nov 2015 07:00:13 GMT

That's fantastic......congratulations! I wish I were eligible to join, but I wasn't in the Navy and I don't have a family member either.

Re: NFCU Home Run!

UncleB — Fri, 13 Nov 2015 07:01:03 GMT

@Anonymous wrote:
congrats sir. they stick to their guns and i haven't seen AA from them on here. most credit unions don't go back on their lending. again i am very happy you got something you're super proud of. that honestly made my night seeing you be approved. you're happier than your discover andSAMs credit cards combinedlol

You're right about that!

Getting back 'in' with Discover was awesome, and getting Sam's was cool because it filled a rewards void - and I was very pleased about both - but this is just wild.

I honestly thought an account of this quality was out of reach for me... you guys certainly proved me wrong! If only I could be 'wrong' like this more often!

Re: NFCU Home Run!

Anonymous — Fri, 13 Nov 2015 07:02:57 GMT

Congrats.

Re: NFCU Home Run!

Anonymous — Fri, 13 Nov 2015 07:04:40 GMT

well your scores are good (over 700 is considered "good" in any credit situation) and i know you've been responsible and building so i didn't have a single doubt. i am not one to push apping on people but in your case it was dumb if you didn't lol.

Re: NFCU Home Run!

Anonymous — Fri, 13 Nov 2015 07:08:53 GMT

and honestly, based on my adequate knowledge i don't see how by feb of next year you wouldn't be able to get a CLI to $17-$21k. always ask for $25k and allow the automatic counter. if the 3-5 day message comes up do a secured message immediate to retract it if you don't want a HP. i found it best to do CLIs during normal business hours to ensure your message is seen before an underwriter has your app in their queue

Re: NFCU Home Run!

Anonymous — Fri, 13 Nov 2015 07:19:39 GMT

Congrats!! That's a great SL and APR on it to boot! Welcome to the NFCU family. If you opened checking as well and don't mind another pull go for the CLOC as well and request the full 15k. I'd be willing to bet you'd be approved for it as well.

Re: NFCU Home Run!

Anonymous — Fri, 13 Nov 2015 07:21:39 GMT

oh he definitely would lol. but the need for the LOC needs to exist first. he voiced in another thread that the two checking accounts he currently has are sufficient enough. but an instant approval for a $15k LOC is close to a guarantee. honest.

Re: NFCU Home Run!

UncleB — Fri, 13 Nov 2015 07:36:52 GMT

@Anonymous wrote:
Congrats!! That's a great SL and APR on it to boot! Welcome to the NFCU family. If you opened checking as well and don't mind another pull go for the CLOC as well and request the full 15k. I'd be willing to bet you'd be approved for it as well.
@Anonymous wrote:
oh he definitely wouldlol. but the need for theLOC needs to exist first. he voiced in another thread that the two checking accounts he currently has are sufficient enough. but an instant approval for a $15kLOC is close to a guarantee. honest.

Thanks so much!

I did look over their checking but 2011XTERROR is right, I already have checking with USAA (which I'm very pleased with) and a 10 year old Wells Fargo account as well for cash deposits. I have the two 'linked' and my current setup is working out very well at the moment. It would take something quite major to get me to change at this point!

As for the NFCU LOC, well, in theory it would seem really cool to have, but my income is quite modest, and I don't want to find myself turned down at some point for something I really want (or even worse, 'need') just because I'm deemed to have too much available credit for my income. If my income were higher I would likely give it more consideration, but even then I honestly don't see how I would ever use it (other than for utilization padding). My current checking with USAA uses my Visa card for overdraft protection, and with a $7k CL it more than 'protects' my checking account (LOL).

Again, thanks to all!!

Re: NFCU Home Run!

Anonymous — Fri, 13 Nov 2015 07:42:07 GMT

my income is $30k and they still gave me $15k for the LOC. the question of you getting it for a high amount isn't a valid question. it's just if you deem it necessary to get. you're on an NFCU high so if you want it go for it (the checking has no fee and is quick to open online, i did) but don't get something you don't need. i have it and the navchecks that go along with the LOC and have used them a few times and pay them off before it posts lol (my LOC says i have a credit for my payment amount) because defensive driving and apartments don't take card and i don't use cash.

Re: NFCU Home Run!

Anonymous — Fri, 13 Nov 2015 07:43:26 GMT

based on what you said it sounds like a decent back up but even if you used your credit card or had the checking and transferred from CC to account that should suffice

Re: NFCU Home Run!

UncleB — Fri, 13 Nov 2015 08:15:36 GMT

@Anonymous wrote:
based on what you said it sounds like a decent back up but even if you used your credit card or had the checking and transferred from CC to account that should suffice

Yeah, if I had a sudden need where a card couldn't be used, I could get a cash advance from my USAA card (the entire CL is available for cash advances) then do a no-fee BT from NFCU to pay it off. With USAA I can get no-fee cash advances up to $2500 per day directly into my checking account (you can get more the usual way at any local bank branch, but there's a CA fee).

It's a little convoluted, and there would be a few days interest due on the USAA side of the transaction, but if this 'need' ever does come up it will likely mean something really drastic has happened, and I likely won't be worried about a few days interest here or there. Honestly, it's one of those things that I put energy into 'thinking out' knowing most likely it will never be required. In my experience, it's when you don't have a 'Plan B' (and C, D, and E) that you find yourself needing one.

Life is ironic (or at least mine tends to be)... when you prepare for catastrophe, most likely one will never happen.

Re: NFCU Home Run!

Anonymous — Fri, 13 Nov 2015 08:27:13 GMT

I keep almost nothing in my NFCU checking. I have a very small amount direct deposited out of my payroll checks but do most of my banking elsewhere. The nice thing about the CLOC is it's just an open signature line of credit that's a nice back up. Not just an overdraft protection type of deal. I didn't I'd use it much but it has come in handy. Most recently used it to pull out some extra when getting DGF a newer car. Didn't like there offer on the trade for her current car. Pull 8k out of the LOC and used it with the cash we were already putting down and then sold her car outright for 2.5k more than they offered for trade a week later and paid the LOC in full. Just last week I took the HP to go all the way to 15k. Guess they liked seeing 8k borrowed and paid back in two weeks.

Re: NFCU Home Run!

UncleB — Fri, 13 Nov 2015 08:39:58 GMT

@Anonymous wrote:
I keep almost nothing in my NFCU checking. I have a very small amount direct deposited out of my payroll checks but do most of my banking elsewhere. The nice thing about the CLOC is it's just an open signature line of credit that's a nice back up. Not just an overdraft protection type of deal. I didn't I'd use it much but it has come in handy. Most recently used it to pull out some extra when getting DGF a newer car. Didn't like there offer on the trade for her current car. Pull 8k out of the LOC and used it with the cash we were already putting down and then sold her car outright for 2.5k more than they offered for trade a week later and paid the LOC in full. Just last week I took the HP to go all the way to 15k. Guess they liked seeing 8k borrowed and paid back in two weeks.

Very nice! I like it when folks get creative and make things work!

The CLOC is a very attractive product, and at some point in the future I might give it a go. Honestly, right now I'm still a bit 'stunned' with the card approval!

Re: NFCU Home Run!

Anonymous — Fri, 13 Nov 2015 09:00:54 GMT

uncle to be straight honest if it's in consideration just do it then. you may as well be stunned for two approvals and have these accounts age together

Re: NFCU Home Run!

UncleB — Fri, 13 Nov 2015 09:49:03 GMT

@Anonymous wrote:
uncle to be straight honest if it's in consideration just do it then. you may as well be stunned for two approvals and have these accounts age together

If I could figure out a way to actually 'use' it, I would consider the app. I've got plenty of cushion for utilization (not even including the new card) and it's going to be a new HP anyway, so there's no urgency to do it right away.

If/when I am in a position to actually use it, it will likely still be around... for now, I'm in excellent shape credit-wise.

Re: NFCU Home Run!

Gmood1 — Fri, 13 Nov 2015 09:59:18 GMT

Congrats 🎉 uncleB

Re: NFCU Home Run!

Country_Feller — Fri, 13 Nov 2015 10:14:35 GMT

Huge Congratulations!!!

Re: NFCU Home Run!

creditguy — Fri, 13 Nov 2015 10:18:59 GMT

Congrats UncleB!!!!! I am glad you decided to pull the trigger and apply for a card, I had no doubt navy would treat you right. Your profile is better than mine and navy opened the heavens for me so I had no doubts for you. The LOC is great, but if you have no use for it at this time then put it on the back burner, it will always be there. Your card is a good enough stand alone product for you at this time so you do what's best for you. Once again Congrats and welcome to the Navy family. Btw I'm waiting to see your future post telling us you got a CLI to $25k