topic Re: NFCU Flagship Prospects? in Credit Card Approvals

NFCU Flagship Prospects? - Update: Approved

ridgebackpilot — Tue, 18 Dec 2018 13:43:41 GMT

Friends: Last week, I joined NFCU after reading all the favorable posts here about their products and customer service. Although I'm not a veteran, my father helped liberate Europe in WWII as a member of the 70th Infantry Division.

I'm wondering whether to apply for the NFCU Flagship VISA. Here are my DPs:

TU FICO9 Bankcard: 724

TU INQ: 0

AAOA: 51 months

UTIL: <9%

Income: $400K+

DTI: 16%

What are my prospects for being approved for the NFCU Flagship card and what is your best guess at my starting CL? Thanks!

Re: NFCU Flagship Prospects?

Pikaboo-icu — Mon, 17 Dec 2018 00:27:09 GMT

Honestly? If I had your DPs I wouldn't be worried at all..

Navy hands out some awesome SLs but I wouldn't hazard a guess as they can be hard to figure out..

Re: NFCU Flagship Prospects?

Anonymous — Mon, 17 Dec 2018 00:40:25 GMT

With those DPs I would be shocked if you didn’t get 25k at no more than 13.99% - we have seen crazy limits on much worse scores but they are more DTI than score oriented so if your DTI supports it, there you go.

I wonder if that high income would trigger a POI or if they would just give you 25k and request POI when you asked for a CLI?

Re: NFCU Flagship Prospects?

Gmood1 — Mon, 17 Dec 2018 00:42:57 GMT

Pilot I thought you apped for a Venture not long ago? Did they not pull your CRs? If so, you should have at least 1 HP on TU.
Navy is one of those you have to throw caution to the wind and let the chips fall where they may.
They aren't inquiry sensitive or new account sensitive IME.
Of all the banks and CUs I've dealt with, they are by far the toughest to figure out.

Re: NFCU Flagship Prospects?

CreditInspired — Mon, 17 Dec 2018 01:49:47 GMT

I’m confused OP. With those DPs, why would you be worried about approval for any card? Are there any negatives in your credit profile or is there a concern regarding DTI?

Also I think NFCU uses EQ FICO 9.

Re: NFCU Flagship Prospects?

ridgebackpilot — Mon, 17 Dec 2018 02:07:29 GMT

@CreditInspired wrote:
I’m confused OP. With those DPs, why would you be worried about approval for any card? Are there any negatives in your credit profile or is there a concern regarding DTI?

Also I think NFCU uses EQ FICO 9.

We've all had applications denied, no matter what our DPs! Some lenders are more sensitive to one factor or another. So I don't necessarily assume I'll be approved for any card.

I've read NFCU is sensitive to income and DTI rather than the number of inquiries or number of new accounts.

My reports have one medical collection and a few late payments over the years.

From what I've read here, NFCU uses TU FICO9 for initial apps and EQ for CLIs.

Re: NFCU Flagship Prospects?

CreditInspired — Mon, 17 Dec 2018 02:13:07 GMT

Good point OP. I have to remember an approval is not always a guarantee no matter how great the credit profile is.

Re: NFCU Flagship Prospects?

Anonymous — Mon, 17 Dec 2018 02:41:58 GMT

@ridgebackpilot wrote:
@CreditInspired wrote:
I’m confused OP. With those DPs, why would you be worried about approval for any card? Are there any negatives in your credit profile or is there a concern regarding DTI?

Also I think NFCU uses EQ FICO 9.
We've all had applications denied, no matter what our DPs! Some lenders are more sensitive to one factor or another. So I don't necessarily assume I'll be approved for any card.

I've read NFCU is sensitive to income and DTI rather than the number of inquiries or number of new accounts.

My reports have one medical collection and a few late payments over the years.

From what I've read here, NFCU uses TU FICO9 for initial apps and EQ for CLIs.

They can use either TU or EQ. They do seem to mostly pull EQ for CLI and CLOC and TU for initial apps but that script has been flipped before. The only thing that seems to be off the table is EX.

Re: NFCU Flagship Prospects?

Meanmchine — Mon, 17 Dec 2018 04:49:46 GMT

Only question I would have is why your score is not higher

Re: NFCU Flagship Prospects?

spiritcraft1 — Mon, 17 Dec 2018 14:32:31 GMT

My guess is $15k plus with that DTI. They may ask for POI with a higher income number like that though.

Re: NFCU Flagship Prospects?

ridgebackpilot — Tue, 18 Dec 2018 08:18:07 GMT

Approved! At the lowest APR of 11.99%. I'm a little disappointed at the relatively low SL. Is it worth calling them to recon for a higher SL?


	Purpose of Loan:	Signature Flagship Visa
	Date:	12/18/2018
	Subject:	The status of your new Signature Flagship Visa credit card is Approved.

	Message:	Congratulations! Based on your creditworthiness, you have been approved for a Signature Flagship Visa credit card. Your new credit line will be $10,000.00. Your APR will be 11.99%. Expect your credit card within 5-7 business days for regular mail delivery; expedited shipping times vary based on location.

Re: NFCU Flagship Prospects?

CreditInspired — Tue, 18 Dec 2018 10:25:49 GMT

Congrats OP on the approval.

Send them a SM asking for a higher limit. It may or may not be another HP.

Re: NFCU Flagship Prospects?

Gmood1 — Tue, 18 Dec 2018 10:56:15 GMT

@ridgebackpilot wrote:
Approved! At the lowest APR of 11.99%. I'm a little disappointed at the relatively low SL. Is it worth calling them to recon for a higher SL?

Purpose of Loan: Signature Flagship Visa
Date: 12/18/2018
Subject: The status of your new Signature Flagship Visa credit card is Approved.
Message:
Congratulations! Based on your creditworthiness, you have been approved for a Signature Flagship Visa credit card. Your new credit line will be $10,000.00. Your APR will be 11.99%. Expect your credit card within 5-7 business days for regular mail delivery; expedited shipping times vary based on location.

Congrats RBP!

Your exposure will grow fast with Navy! Give it 90/120 days and go for another CC, if it suits you. From the data posted here. The 2nd cards SL is likely to be $25K. Especially after seeing that they gave you the lowest APR. The cards seem to max at $25k before needing POI.

Re: NFCU Flagship Prospects?

Anonymous — Tue, 18 Dec 2018 11:32:59 GMT

@ridgebackpilot wrote:
Approved! At the lowest APR of 11.99%. I'm a little disappointed at the relatively low SL. Is it worth calling them to recon for a higher SL?

Purpose of Loan: Signature Flagship Visa
Date: 12/18/2018
Subject: The status of your new Signature Flagship Visa credit card is Approved.
Message:
Congratulations! Based on your creditworthiness, you have been approved for a Signature Flagship Visa credit card. Your new credit line will be $10,000.00. Your APR will be 11.99%. Expect your credit card within 5-7 business days for regular mail delivery; expedited shipping times vary based on location.

Congratulations!

@Echoing @Gmood1, that card will grow exponentially. I believe there is some correlation with low interest and credit increases and extension with them so let me give you my timeline (and bear in mind I have 18K income and I gave them the exact dollar amount on each application).

9/6 - Applied for cashRewards. Went to review, an hour later, $3000 approval at 11.4% (lowest rate at the time, it’s now 11.65% due to prime increase)

12/10 - Asked for CLI to take my card to $7500. Approved a few hours later which means I left money on the table with them.

12/11 - Asked for $500 checking line of credit - instant approval.

@Anonymous/16 - Applied for Platinum. Expected to have to offer up some of my cashRewards to make the new card limit - approved shortly after they opened yesterday. $7200 @ 7.99%, again the lowest APR.

In just over three months, someone who started off with a TU FICO08 of 647 and hasn’t had any major improvement in any of the bureaus has gone from $3000 extended to $15,200 extended credit.

You can send them a secure message for recon but I personally would keep the offer and just shoot for a CLI after 91 days and 3 statements because you’re likely to get a sizable one if you’re patient and let them review it instead of pulling the trigger on a new card right away. If you do pull the trigger on a second card, you’ll probably get 25K with your income. Navy is known for giving massive second cards.

As with anything, YMMV but nurturing a relationship with Navy pays off big time and it’s worth the effort. Welcome to the family!

Re: NFCU Flagship Prospects?

ridgebackpilot — Wed, 19 Dec 2018 04:13:57 GMT

Thanks for the good advice! I'll probably wait 91/3 as advised and either apply for a CLI or one of Navy's other cards.

Meanwhile, I meant to post this earlier: When I applied yesterday for the NFCU Flagship Rewards card, I was initially auto-declined. No reason was immediately given, of course. I was puzzled until I remembered that I had frozen my TU report sometime last year! No wonder I've had zero inquiries in the past 12 months! What an idiot, I thought...

I called NFCU to apologize and the helpful CSR was very understanding. She encouraged me to unfreeze TU and send in another online application. I did that and the second application went through, resulting in an approval within a couple of hours. Whew!

The motto: Don't forget to unfreeze your TU before you apply for your first Navy card!

Re: NFCU Flagship Prospects?

Anonymous — Tue, 18 Dec 2018 19:53:52 GMT

Congrats on your new NFCU Flagship! The sky is the limit for you in 90 days!

Re: NFCU Flagship Prospects?

Anonymous — Tue, 18 Dec 2018 21:57:38 GMT

@ridgebackpilot wrote:
Thanks for the good advice! I'll probably wait 91/3 as advised and either apply for a CLI or one of Navy's other cards.

Meanwhile, I meant to post this earlier: When I applied yesterday for the NFCU Flagship Rewards card, I was initially auto-declined. No reason was immedaitely given, of course. I was puzzled until I remembered that I had frozen my TU report sometime last year! No wonder I've had zero inquiries in the past 12 months! What an idiot, I thought...

I called NFCU to apologize and the helpful CSR was very understanding. She encouraged me to unfreeze TU and send in another online application. I did that and the second application went through, resulting in an approval within a couple of hours. Whew!

The motto: Don't forget to unfreeze your TU before you apply for your first Navy card!

LOL yeah I just froze all my credit reports this morning since I pulled the trigger on the Platinum Sunday night and I'm fencing myself in the garden, I will probably make the same mistake next card I apply for.

They have excellent customer service reps though for sure!