topic Re: NFCU advice UPDATE!!!!!!! in Credit Cards

NFCU advice UPDATE!!!!!!!

Anonymous — Wed, 05 Aug 2009 12:31:39 GMT

I am a new member with NFCU. I opened a savings and checking acct. I put $6700 into my savings acct. $250 into checking. I am thinking about applying for a cc with them. My history is. Bk 2years ago, since then opened 2 CC's one of the cards is right at 2years the other will be a year in OCT CL of $575 and $500. they are both PiF. never late Auto opened for a year on 08/01/09 with a bal of $4765 never late. had one bad that would not delete if i paid in full but updated that it was paid in full.and from 07, updated as pif on 07/01/09. And mortage 18months not late..

Do you think i should wait to apply or pull the trigger Scores are TU654 EQ 646

Thanks for your input

===== Congratulations! Based on your creditworthiness, you have been approved for a cashRewards Visa credit card. Your new credit line will be $2,500.00. Your APR will be prime plus 12.4%. You should receive your new card(s) in 7-10 normal mail delivery days.===== None of this could have not be possible without the input on the board. I think you!!!! it is one great feeling to see that word APPROVED!!!.. I was pretty worried Again THANK YOU NFCU GODS RULE

Message Edited by lkatcbh07 on 08-05-2009 05:31 AM

Re: NFCU advice

Anonymous — Thu, 30 Jul 2009 22:28:35 GMT

I don't think you would have any problem getting a NFCU card or two. The last I heard the cutoff for NFCU for a CC was a 580 then more recently a 620.

Re: NFCU advice

smallfry — Thu, 30 Jul 2009 22:30:07 GMT

I wouldn't but it might be an interesting experiment for those who think it matters if you have cash in a credit union and credit card approval.

Re: NFCU advice

Anonymous — Thu, 30 Jul 2009 22:32:44 GMT

I think that you should go for it! NFCU only pulls EQ, and they only require a min. score of 550 foe approval. With an EQ score of 646, you should get approved on the spot. I suggest that you apply for the Navcheck LOC first. Apply online. You should get instant approval. My EQ is 577 and I was increased from $500 to $1500!! Once that is approved, then immediately apply for the CC. Should also get instant approval, but if not call for reconsideration. But, I am confident that you will be approved for CC b/c your EQ score is almost 100 pts above their minimum score.

Hope this helps. Let me know how it goes.

Re: NFCU advice

Anonymous — Thu, 30 Jul 2009 23:18:34 GMT

I just got approved for cash rewards with an EQ 602. DTI is 0%, high income, with them 1.5 years, hardly any money in the account (just used it to cash expense report checks). Lots of old lates, unpaid med collection and a C/O. Low limit, $1200, but I am not complaining..

Re: NFCU advice

Anonymous — Fri, 31 Jul 2009 03:13:06 GMT

I was just denied the platinum mastercard on 07/07/09 with NFCU. My EQ is 665. No boddies in the past three years. One late 30 day on Sallie Mae on 03/06. Other than that nothing.

Reason for decline: Unsatisfactory Credit Experience with Other Creditors...

They did not even offer a starting card say a CL of $1000.

Message Edited by 2l8iwin on 07-30-2009 10:13 PM

Re: NFCU advice

Anonymous — Fri, 31 Jul 2009 04:06:35 GMT

I did forget to mention fifteen years history, paid off mortgage, AAofA is 6.9. That might have been the deciding factor...maybe income.

Message Edited by moemeadors on 07-30-2009 09:06 PM

Re: NFCU advice

smallfry — Fri, 31 Jul 2009 09:26:23 GMT

@Anonymous wrote:
I did forget to mention fifteen years history, paid off mortgage, AAofA is 6.9. That might have been the deciding factor...maybe income.
Message Edited by moemeadors on 07-30-2009 09:06 PM

Don't forget that the OP has a two year old BK showing. With a decent deposit I will be interested to see what they offer. This isn't 2007 anymore.

Re: NFCU advice

Anonymous — Fri, 31 Jul 2009 16:23:38 GMT

Assuming a year of employment with the same company I expect you will get an approval.

If possible I would start your employer direct deposit into the account. That might have some weight.

If your BK was discharged 2 years ago you should qualify for something.

Re: NFCU advice

Anonymous — Fri, 31 Jul 2009 17:41:00 GMT

@Anonymous wrote:
I am a new member with NFCU. I opened a savings and checking acct. I put $6700 into my savings acct. $250 into checking. I am thinking about applying for a cc with them. My history is. Bk 2years ago, since then opened 2 CC's one of the cards is right at 2years the other will be a year in OCT CL of $575 and $500. they are both PiF. never late Auto opened for a year on 08/01/09 with a bal of $4765 never late. had one bad that would not delete if i paid in full but updated that it was paid in full.and from 07, updated as pif on 07/01/09. And mortage 18months not late..

Do you think i should wait to apply or pull the trigger Scores are TU654 EQ 646

Thanks for your input

There have been many posts in the forum of people who joined with lower scores than you, theyput NO significant money in savings and were approved for either VIsa or MC or both. They reported CL's of $1200 range, but this is better than ANY builder card CL (CapOne, Orchard/HSBC, etc). And it is with a CU that will grow with you, provide total financial and credit services and has low rates and no fees.

NFCU is the single best CU, where "credit" is the optimum word. They do not have great deposit rates, but I haven't found anyone who is willing to go out on the line with CL's and credit like they do....SO LET'S ALL BE SURE TO PAY THEM IF NOBODY ELSE!!!

Re: NFCU advice

Anonymous — Fri, 31 Jul 2009 19:28:12 GMT

But then there is me whith a higher score 665 EQ and no BK ever.. Denied!! Only one 30 day late three years ago.

Re: NFCU advice UPDATE!!!!!!!

Anonymous — Wed, 05 Aug 2009 12:34:09 GMT

Contributor
Posts: 14
Registered: 07-02-2009

Message 1 of 11

Viewed 416 times

Do you think i should wait to apply or pull the trigger Scores are TU654 EQ 646

Thanks for your input

Re: NFCU advice UPDATE!!!!!!!

Anonymous — Wed, 05 Aug 2009 21:48:05 GMT

To 218Win,

Just take your time with NFCU, I have been a member of NFCU for 9 1/2 years. When I first applied for a NFCU account they denied me, despite the fact that I had direct deposit with them. I applied for a loan with them for $ 2,000 and I had to use my money in my saving account as collaterol(?). I paid on this loan for about 5 months and then paid the loan off. I applied for another loan and did the same things. I then applied for the Visa and was approved and I paid in full for a few months and then applied for LOC and was approved. I continued this and then applied for the Mastercard and was approved. I have only had my credit cards open with NFCU for over a year. Just be patient with them and your diligence will be rewarded.

Re: NFCU advice UPDATE!!!!!!!

Anonymous — Thu, 06 Aug 2009 17:07:08 GMT

After reading all of these approvals I decided to apply again. Less than a month after I was denied a credit card. I applied on Monday and on Tuesday I was asked to verify my employment. After I sent to two of my recent paystubs, I was approved for the cash rewards card with a 3k CL.

While I was at it, I applied for a car loan and I was approved for that at 25k.

I still don't know why they decline me in July but August is a much better mont so far.

Thanks to everyone on the board for advice and NFCU!!

Re: NFCU advice UPDATE!!!!!!!

Anonymous — Thu, 06 Aug 2009 17:23:56 GMT

Congratulations! Persistence paid off.

Absolutely groovy approvals all the way around...ok I know, now I am giving insight as to my age. LOL