topic Re: New NFCU Member Questions! in Credit Card Applications

New NFCU Member Questions!

sbabs1997 — Fri, 10 Jan 2020 16:11:19 GMT

Hi all,

New to the forums, been clocking these for a while and they've really helped! For some reason I thought you needed to purchase the FICO membership to join but I figured this out haha!

I learned about NFCU and the monster SL/CLI's through myFICO and just joined yesterday. I have been debating on what card to apply for as I have okayish credit that I've been rebuilding since graduation in May. I was at a 657 TU a week ago and after my forbearance hit my CR my TU and EQ went down 53 and 30ish points respectively which was super weird so I'm at a 605 TU right now. I want to wait a bit for it to go up a bit more but right now what do folks think I should do? My income is $75k, I have 2 baddies one of which is a collection I am currently trying to fight to get off as I am truly not responsible for it, and a Discover charge off that has since been paid off. I also have a Cap1 Platinum Card which still hasn't even shown up on my CR's and a Citi Secured card that just has a $200 CL.

Looking forward to being a NFCU member and building solid credit this year and would appreciate any tips!

Re: New NFCU Member Questions!

Shooting-For-800 — Tue, 14 Jan 2020 03:43:57 GMT

Apply for anything except Flagship.

1st card is usually low limit.

After 90 days and 3 statements, 2nd card can me huge.

Re: New NFCU Member Questions!

sbabs1997 — Fri, 10 Jan 2020 16:22:27 GMT

@Shooting-For-800 wrote:
Apply for anything except Flagship.
1st card is usually low limit.
After 90 days and 3 state nets, 2nd card can me huge.

Thanks for the quick reply! No chance of anything at least ~ $3-4k? Going on a trip soon and would love to get a new card for it!

Re: New NFCU Member Questions!

Jnbmom — Fri, 10 Jan 2020 16:24:35 GMT

Yes navy pulls TU for new credit cards, you may get a low limit or even the secured but at least you will be in and the future will be bright with them .

Re: New NFCU Member Questions!

sbabs1997 — Fri, 10 Jan 2020 16:26:19 GMT

@Jnbmom wrote:
Yes navy pulls TU for new credit cards, you may get a low limit or even the secured but at least you will be in and the future will be bright with them .

Hey! Really not looking to do another secured card as I already have one. Anything that makes theirs different?

Re: New NFCU Member Questions!

Jnbmom — Fri, 10 Jan 2020 16:32:36 GMT

Yes it will set you up for additional cards in the future .

Re: New NFCU Member Questions!

Brian_Earl_Spilner — Fri, 10 Jan 2020 16:38:54 GMT

@sbabs1997 wrote:
@Jnbmom wrote:
Yes navy pulls TU for new credit cards, you may get a low limit or even the secured but at least you will be in and the future will be bright with them .
Hey! Really not looking to do another secured card as I already have one. Anything that makes theirs different?

Me and my wife got cashrewards for our first cards with similar scores and $500 limits. Took about a year and a half before they bumped me up to $1500. My wife hasn't tried because she doesn't want another HP. Had I got the secured, I would have went from $500 to $2000 in possibly 6 months and then could have product changes to the cash rewards

Re: New NFCU Member Questions!

Brian_Earl_Spilner — Fri, 10 Jan 2020 16:40:27 GMT

While others have had success with 91 day increases or new cards. Neither of us have.

Re: New NFCU Member Questions!

M_Smart007 — Fri, 10 Jan 2020 17:35:13 GMT

@sbabs1997 Welcome To myFICO Forums!

Get any card they offer you, and buid a relationship,

I can promise unless you have really "bad" things on your report, You will be a Happy Camper.

I know I am

Re: New NFCU Member Questions!

SFLSpotter9210 — Fri, 10 Jan 2020 17:43:19 GMT

Welcome to the myfico forums and NFCU family. Personally I joined NFCU in September 2019 applied and approved for GoRewards card for 1k. I knew this would happen so I wasn’t shocked. Reading all the great data on NFCU I knew they were a relationship based CU.

With that said 91/3 came and decided to pull the trigger on MoreRewards AMEX card instant approval with 25k SL and 11.15%. I personally was shocked both with the limit and apr.

So I would say go for it and see what happens if your willing to give up a potential HP. It’s a great CU with huge potential. If you do some research you will find that there’s data pointing in all directions so I guess it’s ymmv. Good luck with whatever you decide to do.

Re: New NFCU Member Questions!

sbabs1997 — Fri, 10 Jan 2020 17:53:31 GMT

Shot my shot at the cash rewards and got shut down, credit score went down 5 points immediately to now a 600. Thought they'd pull Experian 616 but they pulled my Vantage 605. Definitely super disappointed and going to hold off on pulling the trigger for a bit.

Re: New NFCU Member Questions!

SFLSpotter9210 — Fri, 10 Jan 2020 18:30:04 GMT

Sorry to hear that OP. Maybe try and give them a call to see if there’s anything that could be done. They pull TU for CC and CLI are EQ. They should be sending out a letter with stated reason and your internal score. Follow up if you don’t mind with the data points when they come in thanks. And again sorry for the initial decline.

Re: New NFCU Member Questions!

AllZero — Fri, 10 Jan 2020 18:47:23 GMT

Recon. Perhaps ask for the secured card to make use of that hard pull?

Re: New NFCU Member Questions!

Shooting-For-800 — Fri, 10 Jan 2020 19:18:22 GMT

@sbabs1997 wrote:
Shot my shot at the cash rewards and got shut down, credit score went down 5 points immediately to now a 600. Thought they'd pull Experian 616 but they pulled my Vantage 605. Definitely super disappointed and going to hold off on pulling the trigger for a bit.

I would highly recommend getting a secured card to start a relationship.

When I applied I was denied for Flagship and I had 740 Fico and over $100k in credit card limits.

(I was not disapointed...I was pissed!)

Then I got a $1,000 rewards card. (still pissed)

Then I got a cli to $3,000. (a little better)

Then I got a $20,000 Flagship. (happy)

Then I got a $15,000 More Rewards Amex. (happier)

Then I got a Flagship cli to $25,000. (very happy)

All of this was within a year from starting my membership.

GL!

Re: New NFCU Member Questions!

Anonymous — Sat, 11 Jan 2020 00:10:11 GMT

@Shooting-For-800 wrote:
Then I got a $1,000 rewards card. (still pissed)
Then I got a cli to $3,000. (a little better)
Then I got a $20,000 Flagship. (happy)
Then I got a $15,000 More Rewards Amex. (happier)
Then I got a Flagship cli to $25,000. (very happy)

... Then I got a 15K CLOC ( ? )

Re: New NFCU Member Questions!

Anonymous — Sat, 11 Jan 2020 00:16:27 GMT

@sbabs1997 wrote:
@Shooting-For-800 wrote:
Apply for anything except Flagship.
1st card is usually low limit.
After 90 days and 3 state nets, 2nd card can me huge.

Thanks for the quick reply! No chance of anything at least ~ $3-4k? Going on a trip soon and would love to get a new card for it!

It really depends. We have seen lots of $1K approvals but also plenty that were higher than that. My first card 9/2018 was $3K but I also only had 3 other cards at the time. It seems to help if you already have a card with a credit union as that's one of the things their internal score looks at.

ETA: I see upon further reading that you were declined. Sorry to hear it. I agree with the others that you should consider the secured card.

Re: New NFCU Member Questions!

Shooting-For-800 — Sat, 11 Jan 2020 00:19:04 GMT

@Anonymous wrote:
@Shooting-For-800 wrote:
Then I got a $1,000 rewards card. (still pissed)
Then I got a cli to $3,000. (a little better)
Then I got a $20,000 Flagship. (happy)
Then I got a $15,000 More Rewards Amex. (happier)
Then I got a Flagship cli to $25,000. (very happy)
... Then I got a 15K CLOC ( ? )

500 lol.

I didn't even finish the paperwork.

Waiting till Jan 31 for cli on More Rewards Amex and Cash Rewards.

I have faith...

Re: New NFCU Member Questions!

CreditInspired — Sat, 11 Jan 2020 11:27:26 GMT

@sbabs1997 wrote:
Hi all,

New to the forums, been clocking these for a while and they've really helped! For some reason I thought you needed to purchase the FICO membership to join but I figured this out haha!

I learned about NFCU and the monster SL/CLI's through myFICO and just joined yesterday. I have been debating on what card to apply for as I have okayish credit that I've been rebuilding since graduation in May. I was at a 657 TU a week ago and after my forbearance hit my CR my TU and EQ went down 53 and 30ish points respectively which was super weird so I'm at a 605 TU right now. I want to wait a bit for it to go up a bit more but right now what do folks think I should do? My income is $75k, I have 2 baddies one of which is a collection I am currently trying to fight to get off as I am truly not responsible for it, and a Discover charge off that has since been paid off. I also have a Cap1 Platinum Card which still hasn't even shown up on my CR's and a Citi Secured card that just has a $200 CL.

Looking forward to being a NFCU member and building solid credit this year and would appreciate any tips!

Hi and welcome to myFICO

My response is different from others. I believe you read about NFCU monster limits and jumped to quickly on the bandwagon. There are some things you need to know and do first:

Are those FICO scores? If yes, what is your EX score? If no, please go to www.creditchecktotal.com and get those for $1 for a 7-day free trial. Just cancel before trial expires or you'll be on the hook for $29.99/mo until you cancel.

Please understand that building a great credit profile is a marathon, not a sprint! You have to take care of the things that are holding your scores down. So since you're truly not responsible for the 1 baddie, is it fraudulent? If yes, have you filed a police report? If no it's not fraudulent, then why are you not responsible for it? It would be a good idea to take care of the other baddie too.

So IMHO, please dont apply for any more CCs. All that is happening is you're increasing your inquiries and reducing your AAOA, which in turn is negatively impacting your scores.

GL2U on building a great credit profile.

Re: New NFCU Member Questions!

gjean78 — Sat, 11 Jan 2020 12:04:54 GMT

@sbabs1997 wrote:
Shot my shot at the cash rewards and got shut down, credit score went down 5 points immediately to now a 600. Thought they'd pull Experian 616 but they pulled my Vantage 605. Definitely super disappointed and going to hold off on pulling the trigger for a bit.

try to recon with them to see what happens. I've seen a lots of successful recon story about NFCU on here. if I were u I would recon first if that doesn't work I would go with their secured card. or if u don't want another secured card just wait like 5 to 6 months clean your profile a bit then reapply with them.

Re: New NFCU Member Questions!

Jnbmom — Sat, 11 Jan 2020 22:04:55 GMT

Navy pulls TU for credit cards as stated here and as far I am aware it’s FICO not vantage .