topic Re: NFCU... in Credit Cards

NFCU...

Anonymous — Sun, 25 Feb 2018 20:59:10 GMT

Anyone ever see NFCU shut anyones accounts down for high Utilization?......Barclay did that to me, not that my Ut was high with them...

Re: NFCU...

K-in-Boston — Sun, 25 Feb 2018 21:02:31 GMT

NFCU like most lenders will reduce credit lines or close accounts if there is a substantial change in your credit. Barclaycard is notorious around here for it.

Re: NFCU...

Anonymous — Sun, 25 Feb 2018 21:25:54 GMT

@K-in-Bostonwrote:
NFCU like most lenders will reduce credit lines or close accounts if there is a substantial change in your credit. Barclaycard is notorious around here for it.

I hear ya....I got cancer and it was diagnosed stage 4, 1.5 years ago, right when I signed up with NFCU...been using lots of credit to survive. Now I am cancer FREE and back to work......My UT is high across the board currently. Hoping NFCU doesn't do anything. Discover reduced my CL along with Amex.....besides those three, all the others are ok...no missed pymnts at all. I was thinking of sending NFCU a PM sharing why the change in profile due to illness......What are your thoughts on that.....K-in-Boston

Re: NFCU...

simplynoir — Sun, 25 Feb 2018 21:27:36 GMT

@K-in-Bostonwrote:
NFCU like most lenders will reduce credit lines or close accounts if there is a substantial change in your credit. Barclaycard is notorious around here for it.

If OP is asking if NFCU is as sensitive to high utilization as Barclays that's not the feeling I get reading around here. I'm too new a member/cardholder of NFCU to say.

Re: NFCU...

Anonymous — Sun, 25 Feb 2018 21:45:01 GMT

Credit unions in general, including NFCU, are a lot less likely to take AA for high utilization than most of the typical banks. Been a member of NFCU for 30+ years and they have never done any kind of AA against me, even during some serious down credit moments due to divorce. That's not to say it could never happen but it's not something that I would sleep over worrying about.

Re: NFCU...

Anonymous — Sun, 25 Feb 2018 22:53:33 GMT

I’m glad to hear your health has turned around for the better!

I wouldn’t preemptively send a message alerting them to a profile change. I would ride it out, hoping for the best. Secure messaging them only if they AA you. It’s possible they won’t. As has been said above, CUs are typically a lot more forgiving than other financial institutions.

For what it’s worth, NFCU approved me when my overall utilization was in the 80-85% range. They’ve likely seen worse than your current profile.

I wish you the best.

Re: NFCU...

steelers1 — Sun, 25 Feb 2018 22:43:12 GMT

First and formost CONGRATULATIONS you are a survivor!

I couldn't be more happy for you and your family.

I think it would be very unlikely for NFCU to do any AA over high utilization only. You read countless posts here about how members have balance transfered up tp their limits to take advantage of their BT offers. I think they would only do AA if you missed payments with them or other creditors. Remember they are a financial institution and they make money off of the interest that you pay them. With that being said, I surely wouldn't ask for a CLI or new credit until you had your utilization paid down.

I wouldn't contact them at this time, you have nothing to explain. I would only do that if they were to take AA on you but like I said I really don't see that happening over high utilization.

I wish you the best!

Re: NFCU...

Anonymous — Sun, 25 Feb 2018 22:59:53 GMT

THANKS EVERYONE------This forum is the best. I was having some anxiety over this, but with ya'll sharing your experince and thoughts, that anxiety is history. I will not send them any PM regarding my situation. I am paying down my UT and NFCU will be getting the lions share of it. Thanks again folks....love you guys

Re: NFCU...

Appleman — Sun, 25 Feb 2018 23:10:25 GMT

Congrats on beating cancer! Now to beat the cancer that is credit card debt.

I assume you scores are beat down with the high utilization and it sounds like Barclays and AMEX are punishing you for the high utilization.

With you solid pay history you may want to see if you qualify for a personal loan. Try SoFi.com and Lending Club to name a few that will let you do a soft pull for qualification. Some don't mind a higher utilization with a solid income and strong payment history.

If you do qualify this will dramatically improve your credit scores as FICO views a Personal Loan more favorably than high credit card utilization.

Good luck!

Re: NFCU...

Anonymous — Sun, 25 Feb 2018 23:16:40 GMT

Wow, congrats on kicking that cancers but and congrats on keeping everything current during your struggles.

Don't sweat NFCU. They're one of the least likely out there to do AA. Not saying it's impossible, but I definitely wouldn't lose any sleep over it. Just pay down as soon as you can and enjoy life.

Re: NFCU...

Anonymous — Sun, 25 Feb 2018 23:29:56 GMT

@Applemanwrote:
Congrats on beating cancer! Now to beat the cancer that is credit card debt.
I assume you scores are beat down with the high utilization and it sounds like Barclays and AMEX are punishing you for the high utilization.
With you solid pay history you may want to see if you qualify for a personal loan. Try SoFi.com and Lending Club to name a few that will let you do a soft pull for qualification. Some don't mind a higher utilization with a solid income and strong payment history.

If you do qualify this will dramatically improve your credit scores as FICO views a Personal Loan more favorably than high credit card utilization.
Good luck!

Yeah, my scores went from high 700's to low 600's.......lowest is 613...scary. Have.t seen that for long time. Thx for the info, will check em out. I have 100% no lates, no missed pymts....

Re: NFCU...

AverageJoesCredit — Sun, 25 Feb 2018 23:46:45 GMT

Meatman, i am super happy to hear you are doing better and great job beating cancer. Ive been here long enough to remember your journey into Navy and look forward to your continued journey. Bless you and your family

Re: NFCU...

Anonymous — Mon, 26 Feb 2018 05:05:30 GMT

So happy your health situation has done a 180. Continued positive thoughts to you @Anonymous

Re: NFCU...

CreditInspired — Tue, 27 Feb 2018 01:44:12 GMT

Of course, anything can happen OP but I disagree that NFCU will take an adverse action and especially if you have been a long-time member. For 2 years, my brother was between 90-99% utilization on his Go Rewards card ($8K limit). My girlfriend is 90% on her $15K cash rewards card and no AA. Both make a little bit above minimum payments. Matter-of-the-fact, my brother just applied for the NFCU AmX and got a $7K credit limit.

Happy that your health has taken a good turn for the better.

Re: NFCU...

Anonymous — Sat, 03 Mar 2018 03:11:52 GMT

@Anonymouswrote:
@K-in-Bostonwrote:
NFCU like most lenders will reduce credit lines or close accounts if there is a substantial change in your credit. Barclaycard is notorious around here for it.
I hear ya....I got cancer and it was diagnosed stage 4, 1.5 years ago, right when I signed up with NFCU...been using lots of credit to survive. Now I am cancer FREE and back to work......My UT is high across the board currently. Hoping NFCU doesn't do anything. Discover reduced my CL along with Amex.....besides those three, all the others are ok...no missed pymnts at all. I was thinking of sending NFCU a PM sharing why the change in profile due to illness......What are your thoughts on that.....K-in-Boston

I am happy you are doing better and hope everything works out for you. I wouldn't give them any ideas so I am agreeing with other posters and think you should say nothing unless NFCU takes adverse action.

Re: NFCU...

Anonymous — Sat, 03 Mar 2018 04:09:45 GMT

@Anonymouswrote:
@Anonymouswrote:
@K-in-Bostonwrote:
NFCU like most lenders will reduce credit lines or close accounts if there is a substantial change in your credit. Barclaycard is notorious around here for it.
I hear ya....I got cancer and it was diagnosed stage 4, 1.5 years ago, right when I signed up with NFCU...been using lots of credit to survive. Now I am cancer FREE and back to work......My UT is high across the board currently. Hoping NFCU doesn't do anything. Discover reduced my CL along with Amex.....besides those three, all the others are ok...no missed pymnts at all. I was thinking of sending NFCU a PM sharing why the change in profile due to illness......What are your thoughts on that.....K-in-Boston
I am happy you are doing better and hope everything works out for you. I wouldn't give them any ideas so I am agreeing with other posters and think you should say nothing unless NFCU takes adverse action.

Actually, not only have they not taken any AA....I was looking at motorcycles and been wanting one for several years..cancer deal showed me, life is fragile so I found one I liked and applied with NFCU...APPROVED in 5 mins and they of course pulled my EQ which is 53 points lower than when I joined. If they were gonna do any AA they certainly would not have approved the loan...NFCU rocks.....and life is good