topic Re: NFCU Personal loan...APPROVED! in Personal Finance

NFCU Personal loan...APPROVED!

Anonymous — Sun, 23 Aug 2020 20:36:26 GMT

Just sharing some DPs on a Navy Federal Unsecured Personal loan. My scores are in the 655-675 range. No collections. Some layers over the last 2 yrs. I'm in a rebuild and have an existing loan for my car still owe 16k or so and have a few cards with highest limit only 1K. Utilization at like 5% total across all accounts with several at 0. Applied for a NFCU CC and got the More Rewards but only a $500 limit. I was bummed and did a recon which was not approved but I sent in my paystubs in the process. I use the card heavily and pay several times a week (because come on...you have to with only a $500 limit). About a month into having the card read about someone who also had a low limit CC and applied for a personal loan. I decided to ask for an amount that I could pay off 75% right away and build some history and relationship with. Applied online for 8K and was immediately approved. From the time A decided to apply to the time it was in my account was about 7 minutes. No sending in any additional POI. I'm hoping by the time I hit 91/3i can get approved for a card with a higher SL! Good luck to anyone getting a PL through Navy!

Re: NFCU Personal loan...APPROVED!

Girlzilla88 — Sun, 23 Aug 2020 21:23:36 GMT

Awesome and Congrats They are known for Low CL to start but you will love them And welcome if you just got in with the Navy Fam :3

Re: NFCU Personal loan...APPROVED!

Irv02 — Sun, 23 Aug 2020 21:28:41 GMT

Congratulations on your personal loan!!!

Re: NFCU Personal loan...APPROVED!

Adkins — Tue, 25 Aug 2020 07:00:58 GMT

Congratulations, OP!

Re: NFCU Personal loan...APPROVED!

M_Smart007 — Tue, 25 Aug 2020 08:41:29 GMT

Congratulations on your Approval..

Re: NFCU Personal loan...APPROVED!

devilnic — Tue, 25 Aug 2020 17:24:46 GMT

Wow Go Navy and congrats!!

Re: NFCU Personal loan...APPROVED!

AllZero — Tue, 25 Aug 2020 19:57:14 GMT

Congratulations on your approval!

Re: NFCU Personal loan...APPROVED!

Anonymous — Fri, 28 Aug 2020 13:37:42 GMT

Congratulations!

Can you share what interest rate they offered?

Re: NFCU Personal loan...APPROVED!

MyFault — Sat, 29 Aug 2020 04:15:49 GMT

Congrats on your loan approval, and welcome to NFCU!

Re: NFCU Personal loan...APPROVED!

Anonymous — Sun, 30 Aug 2020 21:17:29 GMT

Of course! The highest (I think) that they have lol 18% but that’s fine since I won’t be paying it. Hopefully I can get lower interest on other products.

Re: NFCU Personal loan...APPROVED!

Pit-Smoker — Mon, 31 Aug 2020 00:07:13 GMT

Congrats! Welcome to Navy!

Re: NFCU Personal loan...APPROVED!

Credit4Growth — Mon, 31 Aug 2020 07:43:02 GMT

Congrats on the approval @Anonymous

Re: NFCU Personal loan...APPROVED!

Credit4Growth — Mon, 14 Dec 2020 14:22:20 GMT

@Anonymous wrote:
Just sharing some DPs on a Navy Federal Unsecured Personal loan. My scores are in the 655-675 range. No collections. Some layers over the last 2 yrs. I'm in a rebuild and have an existing loan for my car still owe 16k or so and have a few cards with highest limit only 1K. Utilization at like 5% total across all accounts with several at 0. Applied for a NFCU CC and got the More Rewards but only a $500 limit. I was bummed and did a recon which was not approved but I sent in my paystubs in the process. I use the card heavily and pay several times a week (because come on...you have to with only a $500 limit). About a month into having the card read about someone who also had a low limit CC and applied for a personal loan. I decided to ask for an amount that I could pay off 75% right away and build some history and relationship with. Applied online for 8K and was immediately approved. From the time A decided to apply to the time it was in my account was about 7 minutes. No sending in any additional POI. I'm hoping by the time I hit 91/3i can get approved for a card with a higher SL! Good luck to anyone getting a PL through Navy!

Welcome to Navy! For the most part, Navy usually is pretty quick with most things. I too was surprised to read how fast they completed everything for you even during these current conditions. Nice!

Re: NFCU Personal loan...APPROVED!

Anonymous — Fri, 11 Dec 2020 21:00:37 GMT

Question.. How long did you wait to apply for any product once you joined? I'm in a similar situation where my fico 9 TU is 702 but I'm afraid of applying seeing as though I've only been a member for month. I really want to apply for a 25k PL.

Re: NFCU Personal loan...APPROVED!

Anonymous — Fri, 11 Dec 2020 22:22:46 GMT

I think I waited only about 2 weeks. I did setup direct deposit so they could see funds coming in. My score was less than yours and I have seen nothing but love from Navy. My experience was the $500 first credit card, 8k loan, and when I hit my 91 days and 3 statements on my card I applied for a second card. I hoped for at least $1500 as a limit and they gave me 20k. So although everyone's experience is different, Navy has shown plenty so much love. Have you setup direct deposit or purchased a quick start certificate? Those things seem to have really helped the relationship. Being a member for a month is more than enough time IMHO. ALSO, my DH opened a checking and savings with like $20 about a month or so after me (I think) and applied for a credit card within the same hour and was approved with a limit of $8,100. So truly if there's a place that can show you some trust it's Navy. Good luck to you! Let us know what happens!

Re: NFCU Personal loan...APPROVED!

Anonymous — Sat, 12 Dec 2020 16:27:48 GMT

I opened a Checking and Savings with $50 deposited in each from my Chase account. Some have told me to wait 3 months after joining to build trust but I'm not that patient..lol But you are on to someone with having multiple products with them.. They seem to be more about trust and DTI more than flashy scores. Thankfully they use FICO 9 TU for everything except business now and my TU is the highest!

Re: NFCU Personal loan...APPROVED!

Anonymous — Mon, 03 Jan 2022 21:13:17 GMT

NFCU Member Since: April 2021
Experian- 622
Equifax- 629
Transunion- 632

Income- $37,000 to $40,000 annually
(Weekly direct deposit)

ALL Charge offs/Collections paid.
Only 2 open accounts on credit profile.

First Progress Credit Card- $200 limit
-under 30% utilization
(Opened April 2021 NO LATES)

Exeter Finance auto loan- $15,000
-$352.29 monthly payment
(Opened May 2021 NO LATES)

Looking to apply for 10k to 15k Personal Expense loan after I file taxes early Feb 2022. No overdrafts and I always keep money in there. $3,500 in savings now. What do you think?