topic Re: NFCU Strategy for cc and auto loan ? in Credit Cards

NFCU Strategy for cc and auto loan ?

Anonymous — Sun, 25 Jul 2021 00:50:20 GMT

I am currently gardening after a spree (Apple, Amazon and NFCU). I got the green cash rewards card in April. In October, I will be trying for a car loan. I have plans to buy a home in mid 2022.
I understand the CLI at 91/3 is a soft pull. But...
I want a second card from NFCU (thinking flagship for global entry credit). Is there a way to leverage one hp for the auto loan and the flagship card? I am thinking not but thought I would ask here.
thank you.

Re: NFCU Strategy for cc and auto loan ?

FinStar — Sun, 25 Jul 2021 02:30:48 GMT

@Anonymous wrote:
I am currently gardening after a spree (Apple, Amazon and NFCU). I got the green cash rewards card in April. In October, I will be trying for a car loan. I have plans to buy a home in mid 2022.
I understand the CLI at 91/3 is a soft pull. But...
I want a second card from NFCU (thinking flagship for global entry credit). Is there a way to leverage one hp for the auto loan and the flagship card? I am thinking not but thought I would ask here.
thank you.

Unfortunately, no. If you apply for the CC + the loan, they will be separate HPs. Someone can correct me, but I believe loans still get HP on EQ while CCs are through TU. Also, if you're planning on a mortgage on the horizon, I would hold off from any applications for at least ~12 months unless your mortgage plans/dates are fluid.

Re: NFCU Strategy for cc and auto loan ?

JNA1 — Sun, 25 Jul 2021 02:33:50 GMT

@FinStar wrote:
@Anonymous wrote:
I am currently gardening after a spree (Apple, Amazon and NFCU). I got the green cash rewards card in April. In October, I will be trying for a car loan. I have plans to buy a home in mid 2022.
I understand the CLI at 91/3 is a soft pull. But...
I want a second card from NFCU (thinking flagship for global entry credit). Is there a way to leverage one hp for the auto loan and the flagship card? I am thinking not but thought I would ask here.
thank you.
Unfortunately, no. If you apply for the CC + the loan, they will be separate HPs. Someone can correct me, but I believe loans still get HP on EQ while CCs are through TU. Also, if you're planning on a mortgage on the horizon, I would hold off from any applications for at least ~12 months unless your mortgage plans/dates are fluid.

I got a car loan last month and they pulled TU for that as well for me.

Re: NFCU Strategy for cc and auto loan ?

Anonymous — Sun, 25 Jul 2021 02:37:27 GMT

@Anonymous wrote:
I am currently gardening after a spree (Apple, Amazon and NFCU). I got the green cash rewards card in April. In October, I will be trying for a car loan. I have plans to buy a home in mid 2022.
I understand the CLI at 91/3 is a soft pull. But...
I want a second card from NFCU (thinking flagship for global entry credit). Is there a way to leverage one hp for the auto loan and the flagship card? I am thinking not but thought I would ask here.
thank you.

Not with Navy they will pull you twice for car loan and credit card. DCU has better rates than Navy and you can use the same HP for both car loan and credit card. I had a car loan with Navy at 6%. Went to DCU and they gave me 2.74%. Saving a ton of money! DCU is open to the public as well you might want to look into them if you want to save money and save a hard pull

Re: NFCU Strategy for cc and auto loan ?

JNA1 — Sun, 25 Jul 2021 03:05:50 GMT

@Anonymous wrote:
@Anonymous wrote:
I am currently gardening after a spree (Apple, Amazon and NFCU). I got the green cash rewards card in April. In October, I will be trying for a car loan. I have plans to buy a home in mid 2022.
I understand the CLI at 91/3 is a soft pull. But...
I want a second card from NFCU (thinking flagship for global entry credit). Is there a way to leverage one hp for the auto loan and the flagship card? I am thinking not but thought I would ask here.
thank you.
Not with Navy they will pull you twice for car loan and credit card. DCU has better rates than Navy and you can use the same HP for both car loan and credit card. I had a car loan with Navy at 6%. Went to DCU and they gave me 2.74%. Saving a ton of money! DCU is open to the public as well you might want to look into them if you want to save money and save a hard pull

I got 1.99% from NFCU. Their lowest rate is 1.79%, so they aren't too bad with the right credit profile.

Re: NFCU Strategy for cc and auto loan ?

tcbofade — Mon, 26 Jul 2021 16:06:18 GMT

As already mentioned, your 91/3 application with NFCU will be a hard pull, not a soft pull.

No, you can't use the same inquiry for a car loan and a credit card with NFCU.

Which lender offers you the best rate for the car loan can vary greatly. Check a few and see which lender works best for you. I've got a local credit union, DCU, NFCU, and PenFed... Navy had the lowest rate for ME. That could be different for you.

Good luck!