topic Re: $15K NFCU GO BIZ™ Rewards APPROVAL. Stop Me!!! in Business Credit

NFCU GBR Visa Is In The House??? 🙏

LP007 — Wed, 23 Mar 2022 19:11:36 GMT

Day 4 UW. Is this the CU who drags their feetses for weeks on end underwriting business lending?

Callers, what say you? 🤙

Nfcu Biz App UW.png

Re: NFCU GBR Visa Is In The House??? 🙏

SouthJamaica — Wed, 23 Mar 2022 19:11:08 GMT

@LP007 wrote:
Day 4 UW. Is this the CU who drags their feetses for weeks on end underwriting business lending?

Callers, what say you? 🤙

Nfcu Biz App UW.png

NFCU's business department is for the birds.

Good luck with your application.

Re: NFCU GBR Visa Is In The House??? 🙏

pizzadude — Wed, 23 Mar 2022 12:41:50 GMT

Do you have an existing biz banking relationship with NFCU ? Not sure if that will help to speed things up. They're known to be glacially slow with biz credit approvals.

Re: NFCU GBR Visa Is In The House??? 🙏

LP007 — Wed, 23 Mar 2022 19:26:00 GMT

@pizzadude wrote:
Do you have an existing biz banking relationship with NFCU ? Not sure if that will help to speed things up. They're known to be glacially slow with biz credit approvals.

Yes. Biz & Pers.

$15K NFCU GO BIZ™ Rewards APPROVAL. Stop Me!!!

LP007 — Mon, 28 Mar 2022 20:55:02 GMT

I hear this card sucks because it doesn't report to any biz CRAs. No subs...nothing. I picked it up just to have before my other new credit starts showing up on my PG side.

LLC,

Congratulations! You have been approved for a GO BIZ Rewards Credit Card with a credit limit of $15,000 and 9.15% Variable APR.

You will receive the card and additional disclosures within the next 7 to 10 business days. In the meantime, we might reach out if additional documents are needed to close the file. Otherwise, feel free to reach out to us anytime at 877-418-1462 as we grow the relationship with Navy Federal and your organization.

Re: $15K NFCU GO BIZ™ Rewards APPROVAL. Stop Me!!!

FinStar — Mon, 28 Mar 2022 22:13:25 GMT

@LP007 - two threads have been merged on basically the same topic (NFCU biz CC). Please refrain from cross-posting and/or creating multiple threads on basically the same topic as it is against the myFICO Forums TOS and it can lead to confusion by the community. Thanks.

Re: $15K NFCU GO BIZ™ Rewards APPROVAL. Stop Me!!!

pizzadude — Wed, 30 Mar 2022 13:52:11 GMT

@LP007 How long was the underwriting process before you were approved, like 10-15 days? Did they ask you for any additional biz or tax documentation ?

Re: $15K NFCU GO BIZ™ Rewards APPROVAL. Stop Me!!!

LP007 — Wed, 30 Mar 2022 17:16:54 GMT

@pizzadude wrote:
@LP007 How long was the underwriting process before you were approved, like 10-15 days? Did they ask you for any additional biz or tax documentation ?

Applied through the business account Marketplace portal. No PDF fill-in application. 3/18-3/24. 6 days.

No Docs asked for.

I have Biz & Pers checking + new Pers CC earlier this month.

Re: $15K NFCU GO BIZ™ Rewards APPROVAL. Stop Me!!!

AceTen — Wed, 30 Mar 2022 19:36:16 GMT

@LP007 wrote:
I hear this card sucks because it doesn't report to any biz CRAs. No subs...nothing. I picked it up just to have before my other new credit starts showing up on my PG side.

LLC,

Congratulations! You have been approved for a GO BIZ Rewards Credit Card with a credit limit of $15,000 and 9.15% Variable APR.

You will receive the card and additional disclosures within the next 7 to 10 business days. In the meantime, we might reach out if additional documents are needed to close the file. Otherwise, feel free to reach out to us anytime at 877-418-1462 as we grow the relationship with Navy Federal and your organization.

Congrats and thanks for the data points!

I like dealing with NFCU so I would be happy to have their business card, personally.

I suppose a hidden/ non reporting tradeline could be good for some people in some circumstances.

Re: $15K NFCU GO BIZ™ Rewards APPROVAL. Stop Me!!!

FinStar — Thu, 31 Mar 2022 00:05:39 GMT

@LP007 wrote:
@pizzadude wrote:
@LP007 How long was the underwriting process before you were approved, like 10-15 days? Did they ask you for any additional biz or tax documentation ?

Applied through the business account Marketplace portal. No PDF fill-in application. 3/18-3/24. 6 days.

No Docs asked for.

I have Biz & Pers checking + new Pers CC earlier this month.

Wow. That's like the smoothest and quickest NFCU Business CC approval I've seen...ever 😃

Given the previous and known DPs, most folks typically shied away from even pursuing it.

@LP007- Have you had the business account with NFCU for a very long period? Do you run substantial business transactions or amounts through it? Is your business set up as LLC, S-Corp, Sole Prop, etc.? I suppose the only drawback would be the business reporting (or lack thereof), but still a very decent tradeline.

Did they pull any biz CRAs?

Re: $15K NFCU GO BIZ™ Rewards APPROVAL. Stop Me!!!

LP007 — Thu, 31 Mar 2022 23:14:21 GMT

@FinStar wrote:
@LP007 wrote:
@pizzadude wrote:
@LP007 How long was the underwriting process before you were approved, like 10-15 days? Did they ask you for any additional biz or tax documentation ?

Applied through the business account Marketplace portal. No PDF fill-in application. 3/18-3/24. 6 days.

No Docs asked for.

I have Biz & Pers checking + new Pers CC earlier this month.
Wow. That's like the smoothest and quickest NFCU Business CC approval I've seen...ever 😃

Given the previous and known DPs, most folks typically shied away from even pursuing it.

@LP007- Have you had the business account with NFCU for a very long period? Do you run substantial business transactions or amounts through it? Is your business set up as LLC, S-Corp, Sole Prop, etc.? I suppose the only drawback would be the business reporting (or lack thereof), but still a very decent tradeline.

Did they pull any biz CRAs?

Close to 3-year relation. I run a lot of transactions (deposits, bill pay, transfers, ACH). Account balances $10-20K. LLC.

CRA? Not sure about EQ, but I have 1 from 2/22-3/22 on my EX. It can be from any of the 4 biz apps I did during that period.

My suspision of this efficiency may be due to this new portal. A break from the PDF email in apps. It's now a plug&play application process.

coppressed nf dash marketplace-min.png