topic Re: BEST TIME TO APPLY FOR NFCU CC in Credit Card Applications

BEST TIME TO APPLY FOR NFCU CC

Anonymous — Tue, 05 Sep 2017 05:18:43 GMT

Hi,

Newly minted as a NFCU member. Wondering when would be the ideal time to apply for a CC with them. Current scores are TU:630EX:603 EQ:605 - with 2 collections. Dont want to get a HP and not get a CC.. just wondering when to do so.

*UPDATE: i guess when i meant time - i didnt specifically mean time of the day but more specifically....1 month, 2 months from the time i opened an account with NFCU. I am also concerned that with my scores and 2 collections one is 4 years old and the other 3 years old...adding all the factors and farming.. i dont want to apply within a month or two and get declined.

Thanks for any insights

Re: BEST TIME TO APPLY FOR NFCU CC

Anonymous — Tue, 05 Sep 2017 02:38:49 GMT

I always stay away from early AMs to avoid running into a grouchy analysts if the app goes into review.

Re: BEST TIME TO APPLY FOR NFCU CC

Anonymous — Tue, 05 Sep 2017 04:02:04 GMT

@Anonymous wrote:
I always stay away from early AMs to avoid running into a grouchy analysts if the app goes into review.

I have NEVER ran into a grouchy analyst at NFCU----I have called them at some odd hrs too. ALWAYS CURTEOUS

Re: BEST TIME TO APPLY FOR NFCU CC

Grafton88 — Wed, 06 Sep 2017 01:29:51 GMT

I would look to start with a secured CC from NFCU. That is how I started. I then got a secured loan through them.

With your scores and baddies the secured route may be your best choice.

Re: BEST TIME TO APPLY FOR NFCU CC

Anonymous — Wed, 06 Sep 2017 02:23:03 GMT

My scores were much lower I append right when I joined and got approved

Re: BEST TIME TO APPLY FOR NFCU CC

Anonymous — Wed, 06 Sep 2017 10:19:38 GMT

@medic and Grafton

Been calling NFCU and found out that there is no specific time frame when NFCU Secured card graduates. It varies. However here is the catch - whatever you used to deposit ($500 minimum) once it does convert to an unsecured card - that deposit stays in your savings account and stays there until you close it. It was recommended that i open a secured card ( to start building the relationship ith NFCU) then after a certain period of time apply for the unsecured card. Once you get approved or the reason for you opening the secured card is fulfilled - then close it so you can get your money back.

Im glad i got that insight otherwise i would've locked my $$ was planning to put atleast 2.5k for a high CL balance.

Re: BEST TIME TO APPLY FOR NFCU CC

Anonymous — Wed, 06 Sep 2017 12:17:41 GMT

Hi there-

My scores were much lowere than yours with several baddies including an IRS Lien. I appd for the Cash Rewards Card within an hour of my account being set up and was instantly approved. I would pull the trigger now!

Re: BEST TIME TO APPLY FOR NFCU CC

Grafton88 — Wed, 06 Sep 2017 14:41:18 GMT

My secured CC graduated in 13 months. I then asked for and received a CLI to $5000.

Re: BEST TIME TO APPLY FOR NFCU CC

Anonymous — Thu, 07 Sep 2017 00:50:27 GMT

My NFCU secured card just graduated yesterday after having the card since April 2017. My deposit was $1,000 and I called to have it released back in my savings account which showed as available funds while I was still on the phone with the representative. My credit limit is now $2K. I'm in the process of getting a home so no hard pulls for me until after closing.

I will also add that my Equifax 09 score went from 530 in April to 677 in September.

Re: BEST TIME TO APPLY FOR NFCU CC

Anonymous — Thu, 07 Sep 2017 09:14:53 GMT

@mandm, and everyone - APPROVED FOR NFCU 4.6k

First let me tell you THANKS! followed your recommendation

Called NFCU and spoke to "D". I told her that after all of the sleepless nights reading blogs and researching and contemplating on whether i should wait till i get my CR - i took that leap of faith and said lets process it. During the process i told her to hold my hand! (LOL) After providing all the information i was instantly approved for 4.6k!! I couldnt believe it! It's true what they say about NFCU! They give second chances! Had to call again after 5 minutes to know it was real! LOL

Here are some facts that may help those "hesitant" like me.

Monthly Inc. 6k

Job tenure- 8 months

Rent - 0 (live with family)

TU:630 EX:603 EQ:605

Credit cards:

*Discover It secured ( 2016) and graduated july 2017. 1500 CL

*C1 300 CL

BADDIES:

2 collections total 7k

*4k - 4 years old

*3k - 3 years old

Appreciate all the input guys!

Re: BEST TIME TO APPLY FOR NFCU CC

Anonymous — Thu, 07 Sep 2017 18:52:56 GMT

Congrats!

I’ve applied three times and been declined three times. I just can’t figure out why since my profile is as good as or even MUCH better than a lot of people I see getting approved. It’s nice hearing some people are still having success.

Re: BEST TIME TO APPLY FOR NFCU CC

Anonymous — Fri, 08 Sep 2017 05:29:12 GMT

@ justtara

Im not sure if this will help but i asked them (several NFCU CC people who took my call) and they said that for CC applications they pull (HP) from Transunion. I had 3% credit utilization there. Both the EX and EQ show my Collections thus my CU% is high even though my two cards barely have anything on them. It still affects my score until now. I guess i might be fortunate a bit on that side of things.

I hope this helps.

Re: BEST TIME TO APPLY FOR NFCU CC

Anonymous — Sat, 09 Sep 2017 16:50:14 GMT

TU says my util is 19% (actually, I think it’s 18% after the most recent update). I got the denial letter and it didn’t mention my collections, but it mentioned util (which was 19% at the time), inquiries (only 8 in 2017 and 3 were from Navy Federal), new accounts (most of them are authorized user accounts) and not enough credit history (I have two accounts from 2014 that were paid off in full with no lates). I have zero late payments on my report other than 4 collections, which they didn’t mention. I told them all this in my reconsideration message and they still said no. I just give up on them.

Re: BEST TIME TO APPLY FOR NFCU CC

Anonymous — Sun, 10 Sep 2017 04:20:19 GMT

@justTara

i was denied with a TU 717 fico8. On recon I was told they didn't like lots of inquires and new accounts, unless you have a well established credit history. I was told to apply in 6-9 months and it would be almost an automatic approval.

Re: BEST TIME TO APPLY FOR NFCU CC

Anonymous — Sun, 10 Sep 2017 06:44:48 GMT

@just tara

You might want to consider a pledge loan ( no pulls) with them $250 will be good for 6 months. It gets reported to all 3 bureaus and might help your score in the credit mixture part. It will also help in the "business relattionship part". What i have read in the blog here is that one person suggested this....open a pledge loan for $500. The money will be back in your account in a day or two. Then use that $500 to open up a secured card. In this case you are doing three things A) buidling your Credit Score. B) Buidling a stronger relationship with NFCU 3) after 6-8 months you can try to either ask or apply for thier CC. It will show the amount of "relationship" you have with just this solution. As per NFCU customer service - this has worked well for alot of folks who were declined initially.

Again, only you can decide the path. All i can tell you is that - what they say is true about the "generosity" of NFCU in the CL. Had i not gotten an approval my current UTIL % would be 60%+ due to a 2 collections (4k-4 years + 3k - 3 years). Now after my calculations it is at 35%. Still high but its a start.

Hope that helps