topic Re: NFCU in Credit Card Applications

NFCU

Momof5 — Thu, 09 Apr 2015 14:14:07 GMT

So.... question for the populace....

Has anyone here gone "bad" on their Navy accts, paid off and reapplied? I am looking for experiences to predict my possible success....

Background: I had a nRewards card $15K and CLOC of $10K. When I lost my job 2 and a half years ago I went late. The CLOC has 2 30 day lates on it and the nRewards has 7 (it took 6 months to catch up d/t interest and fees putting it $700 OL). Anyway, I just paid them off on 1 Apr.

The nRewards doesn't show on my page anymore when I log in. The CLOC has a "payoff balance" of $81 but a balance after payment of -$100.35, with an overall $0 balance. (Ok, their math has issues!) Although both are "closed", they don't show closed on all CRs. EQ has CC open and LOC closed. EX has both open. TU has LOC suspended and CC closed.

Since they won't report until EOM, I disputed the balance to get it to report. (CSR said not to re-apply until they report $0.) My other CCs are CAP1 MC $500 cl $0 bal, CAP1 V $1160 cl $0 bal, VS $1000 CL $0 bal, Kohls $300 CL $0 bal, target visa (closed and 6% int) $5000 CL $3307 bal and Chase AU $11500 CL, $10200 bal. I have $3500 to pay down the Chase (it's 14.5% int). Numerous paid auto loans, 3 SL in forebearance (I'm in school) and a $195K bal on my $220K mtg. Income at $80K.

Thinking of applying again after this reports. Good idea or no. Should I wait? I only have 1 inq....

Re: NFCU

Creditaddict — Thu, 09 Apr 2015 14:22:15 GMT

@Momof5 wrote:
So.... question for the populace....

Has anyone here gone "bad" on their Navy accts, paid off and reapplied? I am looking for experiences to predict my possible success....

Background: I had a nRewards card $15K and CLOC of $10K. When I lost my job 2 and a half years ago I went late. The CLOC has 2 30 day lates on it and the nRewards has 7 (it took 6 months to catch up d/t interest and fees putting it $700 OL). Anyway, I just paid them off on 1 Apr.

The nRewards doesn't show on my page anymore when I log in. The CLOC has a "payoff balance" of $81 but a balance after payment of -$100.35, with an overall $0 balance. (Ok, their math has issues!) Although both are "closed", they don't show closed on all CRs. EQ has CC open and LOC closed. EX has both open. TU has LOC suspended and CC closed.

Since they won't report until EOM, I disputed the balance to get it to report. (CSR said not to re-apply until they report $0.) My other CCs are CAP1 MC $500 cl $0 bal, CAP1 V $1160 cl $0 bal, VS $1000 CL $0 bal, Kohls $300 CL $0 bal, target visa (closed and 6% int) $5000 CL $3307 bal and Chase AU $11500 CL, $10200 bal. I have $3500 to pay down the Chase (it's 14.5% int). Numerous paid auto loans, 3 SL in forebearance (I'm in school) and a $195K bal on my $220K mtg. Income at $80K.

Thinking of applying again after this reports. Good idea or no. Should I wait? I only have 1 inq....

good idea... I believe I have read in the past once you are paid off with them that is the best way to do it.

Re: NFCU

fishbjc — Fri, 10 Apr 2015 17:12:40 GMT

Well, my DH went late (sort of same thing) and YES they opened him up two new accounts, but with $1k limits....owns home outright and earns six figures. Once the year passed, they CLI's are coming every three months....so that's a good thing.

Only you can decide, but it's worth an inquiry I think!

Re: NFCU

Momof5 — Thu, 30 Apr 2015 13:37:49 GMT

So, after Navy finally reported my CLOC = $0, with an EQ score of 703, EQ util of 43% (balance on one card, others = $0 bal), SLs in deferment d/t being in Masters program, $78000 income and no lates on Navy for 2 years prior to payoff, I pulled the trigger.

Declined.

Sent recon secure message. I guess we'll see what happens now. Although not reporting yet, I just got approved for HD $10K, Discover IT $3500, USAA $7000 and Venture $15K.

Re: NFCU

Anonymous — Thu, 30 Apr 2015 14:45:55 GMT

Re: NFCU

Anonymous — Thu, 30 Apr 2015 14:47:07 GMT

Those coverage plans come in handy. 70 cents per 100 dollars a month to not default is worth it.

Re: NFCU

Momof5 — Thu, 30 Apr 2015 15:37:52 GMT

Except this was the 1 job where I was fired. (long story) Without Unemployment Compensation, the benefit does not get paid. I did have the coverage! :'(

Anyway, got a reply from my recon message. They want my last 2 paystubs, so I sent them that plus the pay stub from my 20% bonus check, so we'll see what they say now!

Re: NFCU

joedtx — Thu, 30 Apr 2015 15:41:15 GMT

@Momof5 wrote:
Except this was the 1 job where I was fired. (long story) Without Unemployment Compensation, the benefit does not get paid. I did have the coverage! :'(

Anyway, got a reply from my recon message. They want my last 2 paystubs, so I sent them that plus the pay stub from my 20% bonus check, so we'll see what they say now!

Best of luck hope it works out.

Re: NFCU

Creditaddict — Thu, 30 Apr 2015 15:49:38 GMT

@Anonymous wrote:
Those coverage plans come in handy. 70 cents per 100 dollars a month to not default is worth it.

THOSE ARE THE BIGGEST WASTE OF MONEY IN THE UNIVERSE... you should CANCEL them instantly if you have them!!!!

Re: NFCU

Anonymous — Thu, 30 Apr 2015 15:52:24 GMT

@Creditaddict wrote:
@Anonymous wrote:
Those coverage plans come in handy. 70 cents per 100 dollars a month to not default is worth it.
THOSE ARE THE BIGGEST WASTE OF MONEY IN THE UNIVERSE... you should CANCEL them instantly if you have them!!!!

@I agree with @Creditaddict.

Re: NFCU

Momof5 — Thu, 30 Apr 2015 17:15:38 GMT

I declined that option this time.

BTW, just got the response from the reconsideration.....Approved! Of course they didn't tell me how much....I guess that I'll have to call.

Re: NFCU

Momof5 — Thu, 30 Apr 2015 18:29:54 GMT

And the answer is $10K @ 15.5%!

So for all those that find themselves with a closed Navy account, if you are denied, recon!

Re: NFCU

Anonymous — Thu, 30 Apr 2015 18:35:04 GMT

@Momof5 wrote:
@Anonymous the answer is $10K @ 15.5%!

So for all those that find themselves with a closed Navy account, if you are denied, recon!

Congrats. Well done on the recon!