topic Re: NFCU Low Approval in Credit Card Approvals

NFCU Low Approval

Anonymous — Tue, 26 May 2020 14:41:12 GMT

Well I was finally approved for a NFCU Checking and Savings, upon recieving the email, I immedietly unlocked my TU and applied for the Cash Rewards card. It told me wait 24 hours. Well 24 hours is up and I got a text I was approved, after checking its only for 500$?? I was quite surprised by this approval amount, especially because my score is 682 when pulled, I also have several other cards with limits between 5k-10k. I am very happy to be in the door with them, but man this SL really discouraged me.

Re: NFCU Low Approval

M_Smart007 — Tue, 26 May 2020 14:45:40 GMT

Congratulations on your approval! ...

Re: NFCU Low Approval

CerebralZulu — Tue, 26 May 2020 14:46:10 GMT

If you check the forum, NFCU is more relationship oriented. When I applied the credit limit was initially very low. After establishing a relationship my second card was a lot higher limit. Hang in there. The good things are coming.

Re: NFCU Low Approval

Anonymous — Tue, 26 May 2020 14:51:08 GMT

I havent went back to look but about how long should I wait before applying for 2nd card? I just deposited 1k into the accounts to keep a balance in there for the time being.

Re: NFCU Low Approval

CerebralZulu — Tue, 26 May 2020 15:03:52 GMT

@Anonymous wrote:
I havent went back to look but about how long should I wait before applying for 2nd card? I just deposited 1k into the accounts to keep a balance in there for the time being.

You can at 91days/3 statements. But better results have been coming at 6 months. Check out the NFCU cli thread, all of the experts are giving great information there.

Re: NFCU Low Approval

Anonymous — Tue, 26 May 2020 15:03:59 GMT

Congrats on your approval!

Re: NFCU Low Approval

flexin222 — Tue, 26 May 2020 15:04:23 GMT

Congrats on NFCU and just getting in the door is the main thing! Most can't even get a NFCU card or account and if you're in the military, they seem to give much higher limits. I am former military and thought my CL was on the low side, but since I just started with them I let it go. I then tried for a CLI by 3 months and was turned down. I should have left well enough alone, and now I'm past the 6 month time limit and I'm thinking of waiting till the end of year. I don't know if my sources are correct but they say not to go for too high on total credit limits for combined cards. What do you think?

Re: NFCU Low Approval

CerebralZulu — Tue, 26 May 2020 15:11:18 GMT

https://ficoforums.myfico.com/t5/Credit-Card-Applications/Navy-Federal-Thread-for-CLI-and-Additional-Cards/td-p/3419729

There is a wealth of information in this thread from people with an assortment of scores, credit history, and experiences. It's a very long thread and honestly most of the questions are asked repetitively. Try going through the last 10 pages or so and you will get the latest experiences with NFCU.

Re: NFCU Low Approval

AllZero — Tue, 26 May 2020 15:14:26 GMT

Congratulations on your approval!

Re: NFCU Low Approval

CerebralZulu — Tue, 26 May 2020 15:16:12 GMT

@flexin222 wrote:
Congrats on NFCU and just getting in the door is the main thing! Most can't even get a NFCU card or account and if you're in the military, they seem to give much higher limits. I am former military and thought my CL was on the low side, but since I just started with them I let it go. I then tried for a CLI by 3 months and was turned down. I should have left well enough alone, and now I'm past the 6 month time limit and I'm thinking of waiting till the end of year. I don't know if my sources are correct but they say not to go for too high on total credit limits for combined cards. What do you think?

From what I have read the limit on the cards is 25K except the Flagship which is 80K. Anything over 25K may initiate a financial review. As always YMMV.

Re: NFCU Low Approval

gdale6 — Tue, 26 May 2020 15:37:41 GMT

Congrats on the new relationship with NFCU, from what I see about this CU I would not worry too much, their cards grow.

Re: NFCU Low Approval

Anonymous — Tue, 26 May 2020 15:41:22 GMT

Thank you! This was the thread I was looking for!

Re: NFCU Low Approval

CerebralZulu — Tue, 26 May 2020 15:43:57 GMT

@Anonymous wrote:
Thank you! This was the thread I was looking for!

You are quite welcome. Happy reading.

Re: NFCU Low Approval

19eighty5 — Tue, 26 May 2020 18:58:54 GMT

Congratulations on your approval!

Re: NFCU Low Approval

CreditAggie — Tue, 26 May 2020 19:19:14 GMT

Congratulations on your NFCU Cash Rewards approval!

Re: NFCU Low Approval

AI_JMV — Tue, 26 May 2020 19:48:01 GMT

I have an 830 TU, and my SL was $1k. Who knows what NFCU is looking for, but as others will opine, I know it will grow, it is just a matter of them getting to know me first.

Re: NFCU Low Approval

AverageJoesCredit — Tue, 26 May 2020 21:05:12 GMT

@flexin222 wrote:
Congrats on NFCU and just getting in the door is the main thing! Most can't even get a NFCU card or account and if you're in the military, they seem to give much higher limits. I am former military and thought my CL was on the low side, but since I just started with them I let it go. I then tried for a CLI by 3 months and was turned down. I should have left well enough alone, and now I'm past the 6 month time limit and I'm thinking of waiting till the end of year. I don't know if my sources are correct but they say not to go for too high on total credit limits for combined cards. What do you think?

Im curious why you say those in military get higher limits? Also, can you explain your last sentence? Thanks.

Re: NFCU Low Approval

AverageJoesCredit — Tue, 26 May 2020 21:07:40 GMT

@AI_JMV wrote:
I have an 830 TU, and my SL was $1k. Who knows what NFCU is looking for, but as others will opine, I know it will grow, it is just a matter of them getting to know me first.

Honestly , credit score is the lesst important factor ive seen with Navy. An 850 wont necessarily get you top billing , as you have witnessed, whereas even a 600 wont eliminate one from contention.

Re: NFCU Low Approval

PlatoPuss — Tue, 26 May 2020 21:36:24 GMT

Congratulations on your approval!

Re: NFCU Low Approval

Anonymous — Tue, 26 May 2020 22:57:05 GMT

My guess is that some of it has to do with "they know where you work". Start to miss payments, bounce checks, etc and you're likely to be visiting someone in your chain-of-command (e.g. First sergeant, etc.) If it's serious enough, you could be subject to non-judicial punishment.