topic Re: BURNED & FORGIVENESS (PenFed , NFCU , RBS Citizens) in Credit Card Applications

BURNED & FORGIVENESS (PenFed , NFCU , RBS Citizens)

Anonymous — Wed, 13 Mar 2019 02:31:47 GMT

Hi All

In 2009-2010

I ran into some troubles during the stock market collapse and lose nearly all my asset , housing and investment

And I burned NFCU , Penfed and RBS (now is call Citizens Bank)

I now fully recovered and would like to know is anyone know can I still get back to NFCU ? Penfed still send me commierical email ask me for their products, not sure is it call welcome back to them ? And RBS now call Citizens Bank can i still apply for their cc ?

Thank you so much for help

Re: BURNED & FORGIVENESS (PenFed , NFCU , RBS Citizens)

FinStar — Wed, 13 Mar 2019 02:43:05 GMT

AFAIK, once you burn NFCU, it's a sealed fate. PenFed may send advertisements or marketing information but that doesn't necessarily translate into a welcome mat. To learn for sure, you would need to apply for any of their products to see whether they are forgiving. And, RBS is likely a no, unfortunately.

Were any of these lenders included in BK or just charged-off/unpaid?

Re: BURNED & FORGIVENESS (PenFed , NFCU , RBS Citizens)

Anonymous — Wed, 13 Mar 2019 02:50:48 GMT

To get back into any credit union, you must make them whole again. It’s a pretty standard rule that if a member damages the credit union, they must repay the damage before they can be accepted back.

Re: BURNED & FORGIVENESS (PenFed , NFCU , RBS Citizens)

FinStar — Wed, 13 Mar 2019 03:09:30 GMT

That appears to be a generalized statement for all CUs, no? That actually isn't the case for a variety of them. In general, regardless whether you make them whole or not, they typically do not re-establish those relationships. Do you have an actual list for all CUs that do this?

Re: BURNED & FORGIVENESS (PenFed , NFCU , RBS Citizens)

Anonymous — Wed, 13 Mar 2019 04:06:26 GMT

@FinStar wrote:
That appears to be a generalized statement for all CUs, no? That actually isn't the case for a variety of them. In general, regardless whether you make them whole or not, they typically do not re-establish those relationships. Do you have an actual list for all CUs that do this?

I didn’t say they all will accept you back (although technically there is nothing specifically barring a member from being a member again once the CU has been made whole, that’s an entirely different story to being allowed to have a credit product again) just that if you ever have any hope of being back in with them, you have to make them whole first.

Re: BURNED & FORGIVENESS (PenFed , NFCU , RBS Citizens)

Anonymous — Wed, 13 Mar 2019 04:13:15 GMT

Hi FinStar

Thank you so much for your replied.

During the tough 2009 2010, these cc was charged off and I did not file BK, and they all felt off from my reports around late 2017

Thank you ver much for help

Re: BURNED & FORGIVENESS (PenFed , NFCU , RBS Citizens)

Anonymous — Wed, 13 Mar 2019 04:18:20 GMT

@Anonymous wrote:
@FinStar wrote:
That appears to be a generalized statement for all CUs, no? That actually isn't the case for a variety of them. In general, regardless whether you make them whole or not, they typically do not re-establish those relationships. Do you have an actual list for all CUs that do this?
I didn’t say they all will accept you back (although technically there is nothing specifically barring a member from being a member again once the CU has been made whole, that’s an entirely different story to being allowed to have a credit product again) just that if you ever have any hope of being back in with them, you have to make them whole first.

Hi Saeren

Thank you for the info

So for commerical banks, I saw ppl can get back to them after certian amount of time like 10 years etc.

And for CU , they are forever ?

Re: BURNED & FORGIVENESS (PenFed , NFCU , RBS Citizens)

FinStar — Wed, 13 Mar 2019 04:23:15 GMT

@Anonymous wrote:
Hi FinStar

Thank you so much for your replied.
During the tough 2009 2010, these cc was charged off and I did not file BK, and they all felt off from my reports around late 2017
Thank you ver much for help

So, potentially since these accounts were not IIB, and if you wanted to test the waters the only way to know for sure if when you apply or if you're eligible for CU membership again (i.e. PenFed, NFCU). IIRC, NFCU is unlikely to bend. Keep in mind that although your reports may be clear from those previous accounts/derogs, these lenders still keep internal records.

Re: BURNED & FORGIVENESS (PenFed , NFCU , RBS Citizens)

Anonymous — Wed, 13 Mar 2019 04:25:43 GMT

@Anonymous wrote:

@Anonymous wrote:
@FinStar wrote:
That appears to be a generalized statement for all CUs, no? That actually isn't the case for a variety of them. In general, regardless whether you make them whole or not, they typically do not re-establish those relationships. Do you have an actual list for all CUs that do this?
I didn’t say they all will accept you back (although technically there is nothing specifically barring a member from being a member again once the CU has been made whole, that’s an entirely different story to being allowed to have a credit product again) just that if you ever have any hope of being back in with them, you have to make them whole first.
Hi Saeren

Thank you for the info

So for commerical banks, I saw ppl can get back to them after certian amount of time like 10 years etc.
And for CU , they are forever ?

CUs will absolutely not extend any credit to anyone who has caused them a loss that hasn’t been repaid. There may be a CU here and there that actually goes against the policy once in awhile but NFCU and PenFed aren’t forgiving at all.

Now the banks, on the other hand, tend to have varying degrees of forgiveness. Some will forgive before 10 years, some won’t forgive beyond 10 years and the ones that take the longest to forgive are the most likely to hold the previous account history over your head when you try to get CLIs or additional products.

Re: BURNED & FORGIVENESS (PenFed , NFCU , RBS Citizens)

Anonymous — Wed, 13 Mar 2019 05:38:23 GMT

@Anonymous wrote:
@Anonymous wrote:

@Anonymous wrote:
@FinStar wrote:
That appears to be a generalized statement for all CUs, no? That actually isn't the case for a variety of them. In general, regardless whether you make them whole or not, they typically do not re-establish those relationships. Do you have an actual list for all CUs that do this?
I didn’t say they all will accept you back (although technically there is nothing specifically barring a member from being a member again once the CU has been made whole, that’s an entirely different story to being allowed to have a credit product again) just that if you ever have any hope of being back in with them, you have to make them whole first.
Hi Saeren

Thank you for the info

So for commerical banks, I saw ppl can get back to them after certian amount of time like 10 years etc.
And for CU , they are forever ?
CUs will absolutely not extend any credit to anyone who has caused them a loss that hasn’t been repaid. There may be a CU here and there that actually goes against the policy once in awhile but NFCU and PenFed aren’t forgiving at all.

Now the banks, on the other hand, tend to have varying degrees of forgiveness. Some will forgive before 10 years, some won’t forgive beyond 10 years and the ones that take the longest to forgive are the most likely to hold the previous account history over your head when you try to get CLIs or additional products.

Thank you so much for your time spent to explained to me, Thank you Saeren

So for now, maybe I will need to give us CU and for anyone else if burned RBS before 2009 and please post if you can still able to get back to their Citizens Bank now. Would love to get back and being a good person again.

Thank you All

Re: BURNED & FORGIVENESS (PenFed , NFCU , RBS Citizens)

Anonymous — Wed, 13 Mar 2019 06:03:38 GMT

Honestly you’ve got some pretty awesome cards, I wouldn’t even stress about not being able to get cards from NFCU or PenFed. Us rebuilders love NFCU for high limits at low scores but other than their Platinum card and for some the Flagship, they get outclassed by lots of other issuers. And PenFed... 👎 👎

Re: BURNED & FORGIVENESS (PenFed , NFCU , RBS Citizens)

hawkins — Wed, 13 Mar 2019 08:00:31 GMT

Navy is notorious for never letting you back in. I burned them in a BK over 20 years ago and they still will not let me near them. Best way to check is to try to open an account with them and see if you get the crappy screen that says to call the number listed. If you get that screen you are locked out. If you manage to not get that screen and it lets you move forward then there is hope. Takes about 30 seconds and then you will know where you stand. As to PenFed I’m sure they are much the same.

Re: BURNED & FORGIVENESS (PenFed , NFCU , RBS Citizens)

Anonymous — Thu, 14 Mar 2019 10:10:26 GMT

@hawkins wrote:
Navy is notorious for never letting you back in. I burned them in a BK over 20 years ago and they still will not let me near them. Best way to check is to try to open an account with them and see if you get the crappy screen that says to call the number listed. If you get that screen you are locked out. If you manage to not get that screen and it lets you move forward then there is hope. Takes about 30 seconds and then you will know where you stand. As to PenFed I’m sure they are much the same.

Thank you very much

For anyone else, if you success go back RBS (present name Citizen Bank ) please post

Thank you

Re: BURNED & FORGIVENESS (PenFed , NFCU , RBS Citizens)

Anonymous — Thu, 14 Mar 2019 14:38:02 GMT

@FinStar wrote:
That appears to be a generalized statement for all CUs, no? That actually isn't the case for a variety of them. In general, regardless whether you make them whole or not, they typically do not re-establish those relationships. Do you have an actual list for all CUs that do this?

I burned my local CU 9 years ago and they still won't let me in. I even offered to pay them back and they still want nothing to do with me.

Re: BURNED & FORGIVENESS (PenFed , NFCU , RBS Citizens)

zerofire — Sat, 16 Mar 2019 04:54:49 GMT

NFCU is known for their hard line burn me once shame on you and me forever.

PenFed might think about it after a decade but probably similar to NFCU since they are military CU's.

RBS Citizens was called that because they were purchased by the Royal Bank of Scotland (RBS). Now they are independent so any results are a wash. Most likely Citizens Bank is your most forgiving lender but again they can be a hard ass. Do not expect entry but if they want to do business with you after 6-10 years you can at least ask. I know they are easy to start but super complicated once running. I have a card with them and the first time I tried to get a CLI after 6 months they said to take a hike. Had to wait over a year.

Re: BURNED & FORGIVENESS (PenFed , NFCU , RBS Citizens)

Anonymous — Sat, 16 Mar 2019 06:35:29 GMT

Thank you so much for your detail !
Thank you zerofire !

Re: BURNED & FORGIVENESS (PenFed , NFCU , RBS Citizens)

joltdude — Sat, 16 Mar 2019 23:36:10 GMT

I do vaguely recalll somewhere.. that a very few folks have gotten some headway with NFCU if they pay back the CU in FULL but if they even accept it.... it will take time..... regardless of it falling off.. they still remember.. and if i read your siggy right... Surprised with Cap One... they are usually pretty forgiving given time....

Good luck...

-J