topic Re: Navy Federal Credit Union - Income Verification in Credit Cards

Navy Federal Credit Union - Income Verification

Gonzozap — Fri, 17 Mar 2017 03:45:36 GMT

Can anyone comment on whether Navy Fed asks for income verification for credit card approval? I have never had a bank ask for verification, but I know credit unions can be different.

Same question for car loan approval. Thx all.

Re: Navy Federal Credit Union - Income Verification

Anonymous — Fri, 17 Mar 2017 04:01:05 GMT

IME, I was never asked for verification. I joined and immediatedly applied for a cash rewards card and was instantly approved for $10k within a few days, I setup direct deposit and started using them for my day to day banking. I believe they see my habits and have awarded me accordingly.

Re: Navy Federal Credit Union - Income Verification

Creditplz — Fri, 17 Mar 2017 04:02:05 GMT

I was asked for Income verification for a CLI, and a CLOC

Re: Navy Federal Credit Union - Income Verification

Anonymous — Fri, 17 Mar 2017 04:56:51 GMT

Approved a few days ago for my first card. Im also a new NfCU customer. No income verification requested even on recon

Re: Navy Federal Credit Union - Income Verification

Bman70 — Fri, 17 Mar 2017 06:18:04 GMT

Speaking of Navy Fed, I opened an account as a veteran (under new rules) the other day. The next day I got a call from someone with NFCU, wanting to "finish setting up my accounts and security features." She said it would be a 15 minute phone call, so I said I didn't have the time right then. But I've gotten two emails and another missed call from them, reminding me to set a time for this appointment. I thought my account was already opened when I went to the branch and got my debit card. Anyone else know what a 15 minute interview would be needed for? Just a little annoying since I filled everything out already when I joined.

I should have a data point on income verification here too, since I'm eyeing some products.

Re: Navy Federal Credit Union - Income Verification

Creditplz — Fri, 17 Mar 2017 07:37:49 GMT

They did that to my mom but eventually just left her alone.. they were just trying to have her add a password for extra layer of security and to welcome her to NFCU.. and to ask if she wanted to set up direct deposit etc...

Re: Navy Federal Credit Union - Income Verification

Anonymous — Fri, 17 Mar 2017 14:17:38 GMT

They asked for it when I applied for The CLOC, and gave me a whopping 2.5k at that time. A few months later it was increased to 15k and the CC increased from 15.6k to 21.5k for an HP but no more verification even though I put a higher income since I've had 2 promotions and a raise.

Re: Navy Federal Credit Union - Income Verification

Anonymous — Fri, 17 Mar 2017 11:41:42 GMT

Have cc and CLOC, and haven't been asked for POI. I would think an auto loan might though

Re: Navy Federal Credit Union - Income Verification

CreditInspired — Fri, 17 Mar 2017 12:23:35 GMT

@Bman70 wrote:

Speaking of Navy Fed, I opened an account as a veteran (under new rules) the other day. The next day I got a call from someone with NFCU, wanting to "finish setting up my accounts and security features." She said it would be a 15 minute phone call, so I said I didn't have the time right then. But I've gotten two emails and another missed call from them, reminding me to set a time for this appointment. I thought my account was already opened when I went to the branch and got my debit card. Anyone else know what a 15 minute interview would be needed for? Just a little annoying since I filled everything out already when I joined.

I should have a data point on income verification here too, since I'm eyeing some products.

I have a checking, savings, platinum, siggy, and CLOC and was not asked for POI. I don't understand why NFCU need to schedule a 15-minute interview unless they're trying to sell you on other products

On another note, how did you get your CCs to rotate in your signature line? I love it!

Re: Navy Federal Credit Union - Income Verification

Mattopotamus — Fri, 17 Mar 2017 13:50:21 GMT

nevermind. I read the title as "NASA"

Re: Navy Federal Credit Union - Income Verification

CreditDunce — Fri, 17 Mar 2017 13:57:29 GMT

@CreditInspired wrote:
On another note, how did you get your CCs to rotate in your signature line? I love it!

I'm not the poster, but Animated GIF. You can search for gif makers online for websites that will create them for you.

Re: Navy Federal Credit Union - Income Verification

Dalmus — Fri, 17 Mar 2017 14:09:39 GMT

I wasn't asked for income verification, but when I was initially denied, I proactively provided it via SM. I just provided a paystub to show I wasn't inflating my income.

Re: Navy Federal Credit Union - Income Verification

Anonymous — Fri, 17 Mar 2017 15:33:41 GMT

@Bman70 wrote:

Speaking of Navy Fed, I opened an account as a veteran (under new rules) the other day. The next day I got a call from someone with NFCU, wanting to "finish setting up my accounts and security features." She said it would be a 15 minute phone call, so I said I didn't have the time right then. But I've gotten two emails and another missed call from them, reminding me to set a time for this appointment. I thought my account was already opened when I went to the branch and got my debit card. Anyone else know what a 15 minute interview would be needed for? Just a little annoying since I filled everything out already when I joined.

I should have a data point on income verification here too, since I'm eyeing some products.

I got the same call from them as well a day or two after opening my account with them. I opened my account online. It's more like a welcome call IMO. She did help set up a security passphrase on my account and gave a small overview of my checking account and the features. She also asked if I had any questions about anything Navy Fed offered etc. She did ask me if I was interested in hearing some of the offers available on my account. I thought it was a nice touch for them to do. I was impressed. It was a very low pressure type of call. I've had more pressure exerted on me by 8 year old's selling Girl Scout cookies. lol.

Re: Navy Federal Credit Union - Income Verification

Gonzozap — Fri, 17 Mar 2017 17:11:25 GMT

@Bman70 wrote:

Speaking of Navy Fed, I opened an account as a veteran (under new rules) the other day. The next day I got a call from someone with NFCU, wanting to "finish setting up my accounts and security features." She said it would be a 15 minute phone call, so I said I didn't have the time right then. But I've gotten two emails and another missed call from them, reminding me to set a time for this appointment. I thought my account was already opened when I went to the branch and got my debit card. Anyone else know what a 15 minute interview would be needed for? Just a little annoying since I filled everything out already when I joined.

I should have a data point on income verification here too, since I'm eyeing some products.

I had a bank do that to me once. It was just a welcome call and wanting to see if I had questions. Stupid. Trying to be friendly for the most part I think. I thought it was annoying also.

Re: Navy Federal Credit Union - Income Verification

Gonzozap — Fri, 17 Mar 2017 17:14:51 GMT

Many thanks for all the feedback. Seems nothing is 100%. But that's good to know also.

Re: Navy Federal Credit Union - Income Verification

Bman70 — Sat, 18 Mar 2017 07:16:31 GMT

@CreditInspired wrote:
@Bman70 wrote:

Speaking of Navy Fed, I opened an account as a veteran (under new rules) the other day. The next day I got a call from someone with NFCU, wanting to "finish setting up my accounts and security features." She said it would be a 15 minute phone call, so I said I didn't have the time right then. But I've gotten two emails and another missed call from them, reminding me to set a time for this appointment. I thought my account was already opened when I went to the branch and got my debit card. Anyone else know what a 15 minute interview would be needed for? Just a little annoying since I filled everything out already when I joined.

I should have a data point on income verification here too, since I'm eyeing some products.
I have a checking, savings, platinum, siggy, and CLOC and was not asked for POI. I don't understand why NFCU need to schedule a 15-minute interview unless they're trying to sell you on other products

On another note, how did you get your CCs to rotate in your signature line? I love it!

I'm sure I'll need POI for my mortgage app, 😄NFCU rates look pretty good though.

The rotating cards are, as someone said, an animated GIF. I used Photoshop (CS6) which can make them, but there are free standalone programs.

Re: Navy Federal Credit Union - Income Verification

Gonzozap — Sun, 19 Mar 2017 02:37:31 GMT

@Bman70 wrote:
@CreditInspired wrote:
@Bman70 wrote:

Speaking of Navy Fed, I opened an account as a veteran (under new rules) the other day. The next day I got a call from someone with NFCU, wanting to "finish setting up my accounts and security features." She said it would be a 15 minute phone call, so I said I didn't have the time right then. But I've gotten two emails and another missed call from them, reminding me to set a time for this appointment. I thought my account was already opened when I went to the branch and got my debit card. Anyone else know what a 15 minute interview would be needed for? Just a little annoying since I filled everything out already when I joined.

I should have a data point on income verification here too, since I'm eyeing some products.
I have a checking, savings, platinum, siggy, and CLOC and was not asked for POI. I don't understand why NFCU need to schedule a 15-minute interview unless they're trying to sell you on other products

On another note, how did you get your CCs to rotate in your signature line? I love it!
I'm sure I'll need POI for my mortgage app, 😄NFCU rates look pretty good though.
The rotating cards are, as someone said, an animated GIF. I used Photoshop (CS6) which can make them, but there are free standalone programs.

Yes, absolutely. I didn't include mortgage loans in my inquiry. As an ex-mortgage broker, the mortgage file must contain proof of income. Although some of the bad products of yesterday are making their way back - i.e., no doc, NIV, etc

Re: Navy Federal Credit Union - Income Verification

Anonymous — Thu, 25 Jan 2018 13:35:49 GMT

In one case they requested income verification. I applied again 6 months later and they didnt request supporting documentation.

I applied for Navy Federal power cash rewards on 06/25. My credit score was about 715. I stated my income at 180k annual. I stated my job as a 1099 independent contractor. I stated that I was a nurse and a medical marketer.

In this case they requested Tax forms documenting my income.

I applied a second time on 01/10. My credit score was about 715. This time I stated my income at 48k annual.I stated that I was a nurse. I stated that I was an employee of a company.

Immediate approval. I think this has to do with

1. my income was stated as lower

2. I listed my job as an employee rather than independent contractor.

Re: Navy Federal Credit Union - Income Verification

Anonymous — Mon, 29 Jan 2018 04:17:27 GMT

wrote:
@Bman70 wrote:

Speaking of Navy Fed, I opened an account as a veteran (under new rules) the other day. The next day I got a call from someone with NFCU, wanting to "finish setting up my accounts and security features." She said it would be a 15 minute phone call, so I said I didn't have the time right then. But I've gotten two emails and another missed call from them, reminding me to set a time for this appointment. I thought my account was already opened when I went to the branch and got my debit card. Anyone else know what a 15 minute interview would be needed for? Just a little annoying since I filled everything out already when I joined.

I should have a data point on income verification here too, since I'm eyeing some products.
I got the same call from them as well a day or two after opening my account with them. I opened my account online. It's more like a welcome call IMO. She did help set up a security passphrase on my account and gave a small overview of my checking account and the features. She also asked if I had any questions about anything Navy Fed offered etc. She did ask me if I was interested in hearing some of the offers available on my account. I thought it was a nice touch for them to do. I was impressed. It was a very low pressure type of call. I've had more pressure exerted on me by 8 year old's selling Girl Scout cookies. lol.

Yes dont worry @@Bman70, like @Anonymous said, it only welcome call. I got a call too, set a security phase, ask me if I'm interested to open checking account? I said no, and went through all about Navy banking apps features for mobile banking. He also lifted and enable mobile banking check deposit right away (usually restricted for new member). Thats all.

PS: But be aware now NFCU check/pull EWS (Early Warning System) when you open saving or checking account with them. Check my posting about this 2-3 days ago.