topic Re: Nfcu assistance in Credit Card Applications

Nfcu assistance

deserteagle — Tue, 29 Jun 2021 01:56:56 GMT

I need some assistance with nfcu. Like how do I get approved?! I want a card from Navy fed! I keep applying get denied than wait 6 months. What's the problem?

Re: Nfcu assistance

RealEstateGuy89 — Tue, 29 Jun 2021 01:57:51 GMT

@deserteagle wrote:
I need some assistance with nfcu. Like how do I get approved?! I want a card from Navy fed! I keep applying get denied than wait 6 months. What's the problem?

When you try the pre-qualification page does it give you cards that you are pre-approved for?

Re: Nfcu assistance

Anonymous — Mon, 28 Jun 2021 23:27:37 GMT

Also, for that matter, are you an active member of NFCU with at least a savings account?

Re: Nfcu assistance

deserteagle — Tue, 29 Jun 2021 02:02:52 GMT

@Anonymous wrote:
Also, for that matter, are you an active member of NFCU with at least a savings account?

Yes I am

Re: Nfcu assistance

deserteagle — Tue, 29 Jun 2021 01:58:28 GMT

@RealEstateGuy89 wrote:
@deserteagle wrote:
I need some assistance with nfcu. Like how do I get approved?! I want a card from Navy fed! I keep applying get denied than wait 6 months. What's the problem?
When you try the pre-qualification page does it give you cards that you are pre-approved for?

It tells me I'm approved for the secure card only.

Re: Nfcu assistance

Anonymous — Mon, 28 Jun 2021 23:33:20 GMT

Ok good - I promise I wasn't trying to be snarky. Not everyone knows.

To the point of your post, Navy's prequal tool is notoriously unreliable. That being said, it does seem to work two ways - one is that it shows you all cards, which isn't reliable all the time. The other is if it only shows the nRewards secured card. Have you checked it to see what it shows?

The other parts that would help would be to know some details of your profile - scores, utilization, any derogs or BK history. That info may help us help you figure out how to approach them.

Re: Nfcu assistance

Anonymous — Tue, 29 Jun 2021 01:59:24 GMT

@deserteagle wrote:
@RealEstateGuy89 wrote:
@deserteagle wrote:
I need some assistance with nfcu. Like how do I get approved?! I want a card from Navy fed! I keep applying get denied than wait 6 months. What's the problem?
When you try the pre-qualification page does it give you cards that you are pre-approved for?
It tells me I'm approved for the secure card only.

Ok that helps. Do you have the money in your account to be used to secure the card? If so you may do better by calling and speaking with someone about getting approved and set up.

Re: Nfcu assistance

deserteagle — Mon, 28 Jun 2021 23:47:25 GMT

That's is definitely not what I'm looking for. I'm more along the lines of the nfcu cash rewards but I just need information on how to get my credit in tip-top shape

Re: Nfcu assistance

deserteagle — Mon, 28 Jun 2021 23:49:23 GMT

Please explain "what it shows"

@Anonymous wrote:
Ok good - I promise I wasn't trying to be snarky. Not everyone knows.

To the point of your post, Navy's prequal tool is notoriously unreliable. That being said, it does seem to work two ways - one is that it shows you all cards, which isn't reliable all the time. The other is if it only shows the nRewards secured card. Have you checked it to see what it shows?

The other parts that would help would be to know some details of your profile - scores, utilization, any derogs or BK history. That info may help us help you figure out how to approach them.

Re: Nfcu assistance

Anonymous — Mon, 28 Jun 2021 23:53:24 GMT

Navy's prequalification took on the site. When logged into your account you can see the card(s) you're prequalified for. I was typing that post when you posted that it shows you the nRewards card, so that question is answered.

Re: Nfcu assistance

dragontears — Mon, 28 Jun 2021 23:58:05 GMT

@deserteagle wrote:
That's is definitely not what I'm looking for. I'm more along the lines of the nfcu cash rewards but I just need information on how to get my credit in tip-top shape

For people to help you "get your credit in tip-top shape" you have to give information about where your credit is now

What are your current scores?

What negative accounts do you have?

What positive accounts do you have?

How old are your accounts?

What was the denial reason from Navy?

Otherwise, if you want to remain vague about your current credit situation the vague advice is:

Get negative information removed from your reports

Pay your bills on time

Control your utilization

Don't seek credit excessively

Re: Nfcu assistance

deserteagle — Tue, 29 Jun 2021 01:48:11 GMT

Current scores Fico score 8

Tu: 631

ex: 637

eq: 628

I forgot to mention that.

Re: Nfcu assistance

FinStar — Tue, 29 Jun 2021 02:01:57 GMT

@deserteagle wrote:
Current scores Fico score 8
Tu: 631
ex: 637
eq: 628
I forgot to mention that.

Aside from the scores you've provided, can you elaborate on what's holding them down? Do you have any other tradelines reporting, such as other credit cards, installment loans, etc? Also, do you have any negative or derogatory items on your reports?

Re: Nfcu assistance

deserteagle — Tue, 29 Jun 2021 04:33:59 GMT

@FinStar wrote:
@deserteagle wrote:
Current scores Fico score 8
Tu: 631
ex: 637
eq: 628
I forgot to mention that.
Aside from the scores you've provided, can you elaborate on what's holding them down? Do you have any other tradelines reporting, such as other credit cards, installment loans, etc? Also, do you have any negative or derogatory items on your reports?

CLOC and 2 personal expense loans(with NFCU) utilization 41% last reported discover card utilization 0%, 2 CO's both recent that's all i can think of.

Re: Nfcu assistance

FinStar — Tue, 29 Jun 2021 04:36:36 GMT

@deserteagle wrote:
I need some assistance with nfcu. Like how do I get approved?! I want a card from Navy fed! I keep applying get denied than wait 6 months. What's the problem?

Thanks for providing the additional info. You mentioned on your original post you were declined during the last application. What reasons did NFCU provide for declining it?

Re: Nfcu assistance

deserteagle — Tue, 29 Jun 2021 09:40:00 GMT

I just recently applied so I haven't received my letter of denial yet

Re: Nfcu assistance

OmarGB9 — Tue, 29 Jun 2021 18:33:42 GMT

@deserteagle wrote:
I just recently applied so I haven't received my letter of denial yet

What about the last time you applied 6 months ago?

Re: Nfcu assistance

deserteagle — Tue, 29 Jun 2021 23:55:33 GMT

utilization of bankcard credit lines in last 12 months

number of third party collection accounts

Number of deliquent past or present credit obligations

no open credit union accounts reported

Number of inquiries on credit bureau report

Re: Nfcu assistance

USMC_Winger — Wed, 30 Jun 2021 23:40:49 GMT

@deserteagle wrote:
I need some assistance with nfcu. Like how do I get approved?! I want a card from Navy fed! I keep applying get denied than wait 6 months. What's the problem?

The problem is that, like me, lenders consider us both high risk until we prove ourselves otherwise. You can fix that the hard way (by eventually getting approved for CCs from sub-prime or predatory lenders with high fees and very high APRs, getting the CLs bucketed in sub-prime low limits that rarely or never grow, and using these CCs responsibly for a year or more) or you can fix that the easy way, like I did. You are so, so lucky, because you're eligible to do the same thing I did!

It tells me I'm approved for the secure card only.
That's is definitely not what I'm looking for. I'm more along the lines of the nfcu cash rewards but I just need information on how to get my credit in tip-top shape

@deserteagle: Did you know the Navy Fed secure nRewards CC is the next best thing to the Navy Fed cashRewards CC when you don't have good FICO scores? Sure, it gives back 1% in points while it's secured, but the balance of points converts to 1.5% cash back (exactly like the cashRewards CC gives you!) as soon as the secure nRewards CC graduates to the unsecured cashRewards CC, often 6 or 7 months after CC approval. The downside is that you have to wait until graduation to cash in that max cash back, and you have to provide a $200 to $5,000 security deposit until the secure nRewards CC graduates.

Your credit file won't be in tip-top shape until you get the negative accounts removed, either by pay-for-delete (PFD) or waiting for the accounts to drop off your CRs 7 years after the date of first delinquency (DoFD). Post a question in the "Rebuilding Your Credit" forum for expert advice on PFD. For fastest replies, list the details of each of your negative accounts (name of company which holds the account, DoFD, last reported update, amount owed, whether it's a charge-off account (CO) or collection account (CA)) and late payments, and how much money you have available (or will have available and when) to pay the creditors.

However, you can still reach the low- or mid-700s in FICO 8s and 9s while you're waiting for the negatives to be removed. If you're interested, please let me know, and I'll post the steps necessary to do this the quickest. Hint: This requires getting approved for the Navy Fed secure nRewards CC with a deposit of at least $200, using the secure nRewards CC every month, and having enough income and savings to pay all your revolving accounts (CCs and CLOC) in full and on time every month, as well as make all required payments on installment loans on time.

Re: Nfcu assistance

designated_knitter — Thu, 01 Jul 2021 05:30:24 GMT

@deserteagle wrote:
@FinStar wrote:
@deserteagle wrote:
Current scores Fico score 8
Tu: 631
ex: 637
eq: 628
I forgot to mention that.
Aside from the scores you've provided, can you elaborate on what's holding them down? Do you have any other tradelines reporting, such as other credit cards, installment loans, etc? Also, do you have any negative or derogatory items on your reports?

CLOC and 2 personal expense loans(with NFCU) utilization 41% last reported discover card utilization 0%, 2 CO's both recent that's all i can think of.

Two recent charge-offs is why you're getting denied... Navy doesn't want to be the 3rd.

If you REALLY want a navy Cc, then my advice is to go fore the secured card. If you aren't willing to do that then you probably won't get a Navy card until either those charges-offs are resolved ore they are 3-4 years old.