topic Re: High SL Chances For First NFCU Card Based on Auto Loan With Them in Credit Cards

High SL Chances For First NFCU Card Based on Auto Loan With Them

Have1 — Thu, 16 Dec 2021 08:20:37 GMT

Hello, everyone!

I have been reading every post I can here with NFCU in the thread. I get that Navy has been known for giving a higher SL on your second card with them, but I haven't seen any DP about SL when getting a card after only having an auto loan and bank accounts.

Do we have any DPs on this scenario: SLs with first card and existing car loan?

Background: I just joined Navy Federal last month (11-21) and got an auto loan that month. I like the looks of the More Rewards card. I don't have anything on the AMEX network and I burnt AMEX in my BK7 so no soup for me from them. I think I should be able to get any of the NFCU cards, except the Flagship, based on my scores.

My plan is to apply for the More Rewards in April (6 months of car payments by then) and use my annual fuel buy in May to fulfill whatever the SUB spend requirement may be. I'm hoping there is a good SUB in effect at that time. DPs on that would be nice, too.

Thanks for any thoughts, ideas, experiences or advice.

Re: High SL Chances For First NFCU Card Based on Auto Loan With Them

Adkins — Thu, 16 Dec 2021 13:17:39 GMT

I don't think having an auto loan with then will make a difference, especially since the auto loan department is separate from their credit card division. My DH, who had no prior relationship with NFCU other than a new membership, got a $21K SL out of the gate on one of their credit cards. If they like your profile, you'll get a high SL.

Re: High SL Chances For First NFCU Card Based on Auto Loan With Them

Yasselife — Thu, 16 Dec 2021 13:23:14 GMT

@Have1

I'm considering to apply for an auto loan with Navy once my lease ends. Would you share your experience with that?

The rewards is a solid card for basic needs which I mostly spend on. I went for it over the platinum because my scores were not high enough IMO so I saved the platinum for the future with higher SL as second card and low apr. The downside about the rewards (for me) is having to wait until it reaches $50 to be able to redeem.

Another thing I'd like to do is one of those SSL for scoring purposes.

Welcome to the forums 🤝

Re: High SL Chances For First NFCU Card Based on Auto Loan With Them

dragontears — Thu, 16 Dec 2021 14:19:14 GMT

@Have1 wrote:
Hello, everyone!

I have been reading every post I can here with NFCU in the thread. I get that Navy has been known for giving a higher SL on your second card with them, but I haven't seen any DP about SL when getting a card after only having an auto loan and bank accounts.

Do we have any DPs on this scenario: SLs with first card and existing car loan?

Background: I just joined Navy Federal last month (11-21) and got an auto loan that month. I like the looks of the More Rewards card. I don't have anything on the AMEX network and I burnt AMEX in my BK7 so no soup for me from them. I think I should be able to get any of the NFCU cards, except the Flagship, based on my scores.

My plan is to apply for the More Rewards in April (6 months of car payments by then) and use my annual fuel buy in May to fulfill whatever the SUB spend requirement may be. I'm hoping there is a good SUB in effect at that time. DPs on that would be nice, too.

Thanks for any thoughts, ideas, experiences or advice.

Completely possible

I had just a savings account with Navy for about a year when I applied for the Flagship and got a 30k starting limit back in June

Re: High SL Chances For First NFCU Card Based on Auto Loan With Them

pizzadude — Thu, 16 Dec 2021 14:58:18 GMT

I'd go for it with NFCU, even if you don't get a large inital CL, odds are good that you can increase with CLIs.

Re: High SL Chances For First NFCU Card Based on Auto Loan With Them

pakratus — Thu, 16 Dec 2021 15:23:28 GMT

I received $25k CL on the Cash Rewards after a few months of membership with only checking and savings.

If it helps, my approval post with data points.

Re: High SL Chances For First NFCU Card Based on Auto Loan With Them

Have1 — Thu, 16 Dec 2021 19:18:41 GMT

@Adkins wrote:
I don't think having an auto loan with then will make a difference, especially since the auto loan department is separate from their credit card division. My DH, who had no prior relationship with NFCU other than a new membership, got a $21K SL out of the gate on one of their credit cards. If they like your profile, you'll get a high SL.

Thank you for your reply. I would think that the loan/payment history would be part of their internal scoring. We speak of it as relationship, but it's really building our internal NFCU score. Bank accounts, loans, credit card usage should all be part of that.

That's why I was wondering if positive existing loan history would be the same as positive credit card use.

Re: High SL Chances For First NFCU Card Based on Auto Loan With Them

Have1 — Thu, 16 Dec 2021 19:26:41 GMT

@Yasselife wrote:
@Have1
I'm considering to apply for an auto loan with Navy once my lease ends. Would you share your experience with that?
The rewards is a solid card for basic needs which I mostly spend on. I went for it over the platinum because my scores were not high enough IMO so I saved the platinum for the future with higher SL as second card and low apr. The downside about the rewards (for me) is having to wait until it reaches $50 to be able to redeem.
Another thing I'd like to do is one of those SSL for scoring purposes.

Welcome to the forums 🤝

Here's the thread: https://ficoforums.myfico.com/t5/Auto-Loans/NFCU-Auto-Loan-Pre-Approval-and-then-Loan-Approval/m-p/6455771#M98323

I'm quite happy with NFCU so far. The dealer, however, makes me feel uncomfortable.

Thank you for the welcome! I've been lurking around here for years.

Re: High SL Chances For First NFCU Card Based on Auto Loan With Them

Have1 — Thu, 16 Dec 2021 19:43:04 GMT

@pizzadude wrote:
I'd go for it with NFCU, even if you don't get a large inital CL, odds are good that you can increase with CLIs.

When the time comes, I probably will just pull the lever and wait for the wheels to stop. Maybe I'll get three aces.

Re: High SL Chances For First NFCU Card Based on Auto Loan With Them

Credit_Master — Thu, 16 Dec 2021 22:17:13 GMT

I had a car loan with them for about a year when I applied for one of their credit cards and they gave me a SL of $24,100. I about fell out of my chair when I got the instant approval. I have since burned that bridge to the ground and makes me sick that I had to do it. They are a great FI to have a relationship with.

Re: High SL Chances For First NFCU Card Based on Auto Loan With Them

OmarGB9 — Sat, 18 Dec 2021 17:32:00 GMT

@Yasselife wrote:
@Have1
I'm considering to apply for an auto loan with Navy once my lease ends. Would you share your experience with that?
The rewards is a solid card for basic needs which I mostly spend on. I went for it over the platinum because my scores were not high enough IMO so I saved the platinum for the future with higher SL as second card and low apr. The downside about the rewards (for me) is having to wait until it reaches $50 to be able to redeem.
Another thing I'd like to do is one of those SSL for scoring purposes.

Welcome to the forums 🤝

@Yasselife are you talking about the Navy MoreRewards card? If so, that's not true. You can redeem rewards at any time in any increment. I know because I have that card

Re: High SL Chances For First NFCU Card Based on Auto Loan With Them

Yasselife — Mon, 20 Dec 2021 20:23:47 GMT

My current points

What I need to be able to redeem.

Re: High SL Chances For First NFCU Card Based on Auto Loan With Them

OmarGB9 — Mon, 20 Dec 2021 20:24:32 GMT

@Yasselife wrote:
My current points

What I need to be able to redeem.

Huh, I guess I'd never tried to redeem anything under $50. Oh well. To me that isn't a big deal, rewards rack up pretty quickly.