topic Re: NavyFed: Business Credit Card application - does business checkings account matter? in Business Credit

NavyFed: Business Credit Card application - does business checkings account matter?

leo187um — Thu, 29 Dec 2022 14:04:24 GMT

I recently opened up a Personal & Business Checkings Acct with NavyFed and got the nRewards Secured Card. I am thinking of building up data points with my personal so I can have the secured card graduate and eventually get high limit personal credit cards. I want to apply for the business credit card down the line; in this case does what I do with the Business Checkings Account matter or would they just look at my personal credit & internal bank score on the personal side?

Re: NavyFed: Business Credit Card application - does business checkings account matter?

aynot4fitness — Thu, 29 Dec 2022 16:40:30 GMT

I've had business and personal accounts with NFCU for many years. I, like I am sure others on this site will tell you, NFCU personal services does a great job, but their business services division is terrible. I would suggest you try a small test: Call their business services phone number just to ask some general informational questions about accounts. Then count the days until you manage to speak to a person. That'll be your first DP. Their online messaging system tends to be faster, but it can still be 1+ days to get a response.

Again, I have nothing but praise for their personal account services. I've refered at least 6 family members who are quite happy with them. But I've gotten so frustrated with their business services that I have decided to move my business acounts. To answer your question, if you want a business credit card YMMV, but I was denied a business credit card even though I had 2+ year old business checking and savings accounts, a FICO over 720, and a personal NFCU Visa card with a $23K CL. The reason was "insufficient business credit established", which I found confusing since I maintained good bank balances, had a good DUNS score and Experian Business Credit score, and had several positive business trade lines that were at least 1 year old.

I went to AmEx, FNBO, and Capital One with that same credit profile and they all approved business cards. So good luck to you, but I am in the process of putting NFCU Business Services in my rear view mirror.

Re: NavyFed: Business Credit Card application - does business checkings account matter?

SouthJamaica — Thu, 29 Dec 2022 21:53:39 GMT

@leo187um wrote:
I recently opened up a Personal & Business Checkings Acct with NavyFed and got the nRewards Secured Card. I am thinking of building up data points with my personal so I can have the secured card graduate and eventually get high limit personal credit cards. I want to apply for the business credit card down the line; in this case does what I do with the Business Checkings Account matter or would they just look at my personal credit & internal bank score on the personal side?

As @aynot4fitness already pointed out, NFCU's business department is for the birds. My advice is to stay away from it at all costs. If you do apply for a credit card it will be a much more onerous application than any you have prepared for any other credit card, and if you get the card and ever want to apply for a CLI they will require the same excessive paperwork. Everything else about their business department is also bad. A word to the wise.

Re: NavyFed: Business Credit Card application - does business checkings account matter?

leo187um — Fri, 30 Dec 2022 07:54:29 GMT

Interesting.. such a good rep on the personal side, seems poor on the business side... good to know thank you.

Re: NavyFed: Business Credit Card application - does business checkings account matter?

SouthJamaica — Fri, 30 Dec 2022 15:05:05 GMT

@leo187um wrote:
Interesting.. such a good rep on the personal side, seems poor on the business side... good to know thank you.

And both reputations are well deserved

Re: NavyFed: Business Credit Card application - does business checkings account matter?

LP007 — Fri, 30 Dec 2022 23:09:55 GMT

@SouthJamaica wrote:
@leo187um wrote:
I recently opened up a Personal & Business Checkings Acct with NavyFed and got the nRewards Secured Card. I am thinking of building up data points with my personal so I can have the secured card graduate and eventually get high limit personal credit cards. I want to apply for the business credit card down the line; in this case does what I do with the Business Checkings Account matter or would they just look at my personal credit & internal bank score on the personal side?
As @aynot4fitness already pointed out, NFCU's business department is for the birds. My advice is to stay away from it at all costs. If you do apply for a credit card it will be a much more onerous application than any you have prepared for any other credit card, and if you get the card and ever want to apply for a CLI they will require the same excessive paperwork. Everything else about their business department is also bad. A word to the wise.

Happy New Year! But I'm afraid I have to disagree. They have a new Business Products Marketplace portal on which they've spent a lot of money. You shop for the product you desire and click through the application links. Very streamlined and straightforward. It has a 'progress & next steps' dashboard page for you to see the progress of all of the applications.

Re: NavyFed: Business Credit Card application - does business checkings account matter?

mfinsmi1 — Sat, 31 Dec 2022 00:00:04 GMT

@aynot4fitness i keep getting denied their business card to even tho on the perosnal side they approve me for crazy limits and the max CLI. I know the two sides dont talk but you would think the underwriting for the flagship would be somewhat similar to the business. I know they do use FICO 3 tho , which is typically a lot lower than most peoples F8 or F9. All i know is i keep trying and keep having to sweep the inquiry. I make weekly deposits, i think im going to open a business cd , and will try again in another 6 months .... but i think after this next time im going to move on from their business side.

Re: NavyFed: Business Credit Card application - does business checkings account matter?

FinStar — Sat, 31 Dec 2022 04:34:37 GMT

@mfinsmi1 wrote:
@aynot4fitness i keep getting denied their business card to even tho on the perosnal side they approve me for crazy limits and the max CLI. I know the two sides dont talk but you would think the underwriting for the flagship would be somewhat similar to the business. I know they do use FICO 3 tho , which is typically a lot lower than most peoples F8 or F9. All i know is i keep trying and keep having to sweep the inquiry. I make weekly deposits, i think im going to open a business cd , and will try again in another 6 months .... but i think after this next time im going to move on from their business side.

When was the last time you submitted an application for their biz CC? Was it through the revamped portal or before the changes?

Re: NavyFed: Business Credit Card application - does business checkings account matter?

SouthJamaica — Sat, 31 Dec 2022 04:37:51 GMT

@LP007 wrote:
@SouthJamaica wrote:
@leo187um wrote:
I recently opened up a Personal & Business Checkings Acct with NavyFed and got the nRewards Secured Card. I am thinking of building up data points with my personal so I can have the secured card graduate and eventually get high limit personal credit cards. I want to apply for the business credit card down the line; in this case does what I do with the Business Checkings Account matter or would they just look at my personal credit & internal bank score on the personal side?
As @aynot4fitness already pointed out, NFCU's business department is for the birds. My advice is to stay away from it at all costs. If you do apply for a credit card it will be a much more onerous application than any you have prepared for any other credit card, and if you get the card and ever want to apply for a CLI they will require the same excessive paperwork. Everything else about their business department is also bad. A word to the wise.
Happy New Year! But I'm afraid I have to disagree. They have a new Business Products Marketplace portal on which they've spent a lot of money. You shop for the product you desire and click through the application links. Very streamlined and straightforward. It has a 'progress & next steps' dashboard page for you to see the progress of all of the applications.

Can you advise how to access this portal? I'm just curious. I don't see it on the site.

Re: NavyFed: Business Credit Card application - does business checkings account matter?

aynot4fitness — Sat, 31 Dec 2022 06:12:17 GMT

Happy New Year! But I'm afraid I have to disagree. They have a new Business Products Marketplace portal on which they've spent a lot of money. You shop for the product you desire and click through the application links. Very streamlined and straightforward. It has a 'progress & next steps' dashboard page for you to see the progress of all of the applications.

Hi @LP007, can you share the link to this portal?

Re: NavyFed: Business Credit Card application - does business checkings account matter?

LP007 — Sat, 31 Dec 2022 08:31:59 GMT

@aynot4fitness wrote:
Happy New Year! But I'm afraid I have to disagree. They have a new Business Products Marketplace portal on which they've spent a lot of money. You shop for the product you desire and click through the application links. Very streamlined and straightforward. It has a 'progress & next steps' dashboard page for you to see the progress of all of the applications.
Hi @LP007, can you share the link to this portal?

Now that you've asked, it is kind of secret agentsy because you need to be verified to see the portal: 1) You have to log into your personal NFCU account (to create the verification chain to be able to link to the business portal.) 2) Choose the 'Products & Services' tab at the top of the account page. 3) Click 'CONTINUE' to sign out of your personal account. 4) Now you're eligible to click the 'Services' tab at the top of the new page and sweep down to the 'Business Solutions' option. 5) Once you're on the Business Solutions page, you can scroll down to where you can pick the item you like: Checking Account, Business CC, or Business Loan. 6) Let's choose Business CC, and you'll land on the Go Biz Rewards Credit Card option page. 7) Scroll to the bottom and select the 'secure portal' link (photo 1.) 8) It will lead you to log in again, but after you log this time, you'll land on the application portal page (photo 2.) See? Streamlined. 😅

Photo 1

Photo 2

Re: NavyFed: Business Credit Card application - does business checkings account matter?

SouthJamaica — Sat, 31 Dec 2022 20:48:58 GMT

@LP007 wrote:
@aynot4fitness wrote:
Happy New Year! But I'm afraid I have to disagree. They have a new Business Products Marketplace portal on which they've spent a lot of money. You shop for the product you desire and click through the application links. Very streamlined and straightforward. It has a 'progress & next steps' dashboard page for you to see the progress of all of the applications.
Hi @LP007, can you share the link to this portal?
Now that you've asked, it is kind of secret agentsy because you need to be verified to see the portal: 1) You have to log into your personal NFCU account (to create the verification chain to be able to link to the business portal.) 2) Choose the 'Products & Services' tab at the top of the account page. 3) Click 'CONTINUE' to sign out of your personal account. 4) Now you're eligible to click the 'Services' tab at the top of the new page and sweep down to the 'Business Solutions' option. 5) Once you're on the Business Solutions page, you can scroll down to where you can pick the item you like: Checking Account, Business CC, or Business Loan. 6) Let's choose Business CC, and you'll land on the Go Biz Rewards Credit Card option page. 7) Scroll to the bottom and select the 'secure portal' link (photo 1.) 8) It will lead you to log in again, but after you log this time, you'll land on the application portal page (photo 2.) See? Streamlined. 😅

Photo 1

Photo 2

Thanks.

Wow, that is weird.

Arguably. though, it proves rather than disproves my point that NFCU's business department is hard to deal with. Even when they try to improve, they just make things more difficult in other ways.

I clicked on the business credit cards. Didn't get to see the improved application portal, no doubt because I already have the card. I'm guessing that most people wouldn't be interested in the card, anyway, since it's only 1% cash back.

Re: NavyFed: Business Credit Card application - does business checkings account matter?

aynot4fitness — Sat, 31 Dec 2022 17:59:34 GMT

Well thank you so much for taking the time to share the details to find that portal @LP007. Unless you happen to be a human web-crawler, I can't imagine how on earth anyone would ever find this portal. I'm afraid I have to agree with @SouthJamaica that this is not at all convenient or friendly to the customer. The fact that the portal is so deeply hidden and requires a pre-login before you can login only adds to a poor customer experience. I'd grade this a B for effort, but a D on execution.

I found something else rather curious: I have a business login and a personal login, but the "Business Services Portal" won't let me login with business credentials. It actually responds with an error message stating that you can only access the business portal with personal credentials. But once I was in, it showed my business info. Wierd.

Re: NavyFed: Business Credit Card application - does business checkings account matter?

LP007 — Sun, 01 Jan 2023 00:39:06 GMT

@aynot4fitness wrote:
Well thank you so much for taking the time to share the details to find that portal @LP007. Unless you happen to be a human web-crawler, I can't imagine how on earth anyone would ever find this portal. I'm afraid I have to agree with @SouthJamaica that this is not at all convenient or friendly to the customer. The fact that the portal is so deeply hidden and requires a pre-login before you can login only adds to a poor customer experience. I'd grade this a B for effort, but a D on execution.

I found something else rather curious: I have a business login and a personal login, but the "Business Services Portal" won't let me login with business credentials. It actually responds with an error message stating that you can only access the business portal with personal credentials. But once I was in, it showed my business info. Wierd.

Fair enough. I was just juxtaposing this portal to the old-school 'fill out all these pdf applications and fax them to us' days. 😎

Re: NavyFed: Business Credit Card application - does business checkings account matter?

LP007 — Sun, 01 Jan 2023 00:42:21 GMT

@SouthJamaica wrote:
@LP007 wrote:
@aynot4fitness wrote:
Happy New Year! But I'm afraid I have to disagree. They have a new Business Products Marketplace portal on which they've spent a lot of money. You shop for the product you desire and click through the application links. Very streamlined and straightforward. It has a 'progress & next steps' dashboard page for you to see the progress of all of the applications.
Hi @LP007, can you share the link to this portal?
Now that you've asked, it is kind of secret agentsy because you need to be verified to see the portal: 1) You have to log into your personal NFCU account (to create the verification chain to be able to link to the business portal.) 2) Choose the 'Products & Services' tab at the top of the account page. 3) Click 'CONTINUE' to sign out of your personal account. 4) Now you're eligible to click the 'Services' tab at the top of the new page and sweep down to the 'Business Solutions' option. 5) Once you're on the Business Solutions page, you can scroll down to where you can pick the item you like: Checking Account, Business CC, or Business Loan. 6) Let's choose Business CC, and you'll land on the Go Biz Rewards Credit Card option page. 7) Scroll to the bottom and select the 'secure portal' link (photo 1.) 8) It will lead you to log in again, but after you log this time, you'll land on the application portal page (photo 2.) See? Streamlined. 😅

Photo 1

Photo 2
Thanks.

Wow, that is weird.

Arguably. though, it proves rather than disproves my point that NFCU's business department is hard to deal with. Even when they try to improve, they just make things more difficult in other ways.

I clicked on the business credit cards. Didn't get to see the improved application portal, no doubt because I already have the card. I'm guessing that most people wouldn't be interested in the card, anyway, since it's only 1% cash back.

True, but it also reports to 0 credit agencies, giving a true layer of hidden utilization.

Re: NavyFed: Business Credit Card application - does business checkings account matter?

leo187um — Sun, 01 Jan 2023 00:48:30 GMT

NavyFed business division is like covert ops in the military..

Re: NavyFed: Business Credit Card application - does business checkings account matter?

Janneman — Thu, 05 Jan 2023 03:50:47 GMT

Do we need to have a business checking account with NFCU in order to apply for their business credit card?

Re: NavyFed: Business Credit Card application - does business checkings account matter?

jaxstraw — Thu, 05 Jan 2023 04:30:50 GMT

@Janneman wrote:
Do we need to have a business checking account with NFCU in order to apply for their business credit card?

You need either a NFCU Business Savings or Checking account to qualify for any other business products.