topic Re: NFCU approval in Credit Cards

NFCU approval!

Woolfman — Wed, 30 Mar 2011 21:46:28 GMT

I applied over the weekend and Monday it showed approved. Today finally it showed up on the website. I was approved for the Cash rewards Visa (apr isnt the greatest) 14.65 with a 20k CL.

My scores are in the 660 to 680 range. Had a ton of new inquiries ( just bought a car) Roughly 30% overall util and a HHI of just shy of 100k. They did pull EQ and TU

Re: NFCU approval!

Creditaddict — Wed, 30 Mar 2011 21:58:52 GMT

How come everyone else is getting VERY high CL with no income verification? Every time I apply with them they want my income all over again.

Re: NFCU approval!

Woolfman — Wed, 30 Mar 2011 22:09:18 GMT

not sure but they did not ask for any verification of income. We are switching to them as our main bank and only my Paycheck has been DD to it .. this week the wifes should kick in finally . Only been with them for right at 3 months .

Re: NFCU approval!

treefrogger — Thu, 31 Mar 2011 00:08:16 GMT

@Creditaddict wrote:
How come everyone else is getting VERY high CL with no income verification? Every time I apply with them they want my income all over again.

Do you have direct deposit with them?

If so, they already have somewhat of an income verification for you.

Re: NFCU approval!

Creditaddict — Thu, 31 Mar 2011 00:18:03 GMT

@treefrogger wrote:
@Creditaddict wrote:
How come everyone else is getting VERY high CL with no income verification? Every time I apply with them they want my income all over again.
Do you have direct deposit with them?

If so, they already have somewhat of an income verification for you.

no I have $5 in the account

Re: NFCU approval!

haulingthescoreup — Thu, 31 Mar 2011 00:36:29 GMT

@Creditaddict wrote:
@treefrogger wrote:
@Creditaddict wrote:
How come everyone else is getting VERY high CL with no income verification? Every time I apply with them they want my income all over again.
Do you have direct deposit with them?

If so, they already have somewhat of an income verification for you.
no I have $5 in the account

Ahhh.

(I can see why DD might let you off the hook for income verification.)

Re: NFCU approval!

Anonymous — Thu, 31 Mar 2011 02:43:15 GMT

@Creditaddict wrote:
How come everyone else is getting VERY high CL with no income verification? Every time I apply with them they want my income all over again.

DD / active duty military / long-time member / previous history with NFCU are all a big plus.

Re: NFCU approval!

Red1Blue — Thu, 31 Mar 2011 02:47:24 GMT

Congrats

Re: NFCU approval!

Anonymous — Thu, 31 Mar 2011 03:25:07 GMT

Very nice!

Congrats!

Ray

Re: NFCU approval!

Anonymous — Thu, 31 Mar 2011 10:55:25 GMT

befoe my dd visa card 8500 after dd jan3 asked for cli to 15000 dollars,loc 5500 dollars and two loans one 11200 down to 4300 and 3000 down to 2500 dollars. i do think dd does make a differences

Re: NFCU approval!

700orbust — Thu, 31 Mar 2011 12:17:21 GMT

Woolfman,

Are you active duty?

I'm perplexed. My scores are higher, utilization lower, HHI higher, and I got 5K @ 12.99, not even my highest limit. I'm calling them back again today.

I haven't used the account, but I deposited 1k into savings and left it there 3 months before applying. I also had no income verification.

I am NOT active duty.

Re: NFCU approval!

Woolfman — Thu, 31 Mar 2011 12:57:39 GMT

nope Not active duty . I have no bad items on my report. It is clean . oldest account is 15 years . AAOA is 2.3 years. Maybe its the collection.

Re: NFCU approval!

Anonymous — Thu, 31 Mar 2011 14:12:05 GMT

@700orbust wrote:
Woolfman,

Are you active duty?

@I'm perplexed. My scores are higher, utilization lower, HHI higher, and I got 5K @ 12.99, not even my highest limit. I'm calling them back again today.

I haven't used the account, but I deposited 1k into savings and left it there 3 months before applying. I also had no income verification.

I am NOT active duty.

Do you have direct deposit (DD)?

As the previous posters have mentioned, NFCU will spread the love if you reciprocate.

Re: NFCU approval!

Anonymous — Thu, 31 Mar 2011 23:47:41 GMT

@Anonymous wrote:
@700orbust wrote:
Woolfman,

Are you active duty?

@I'm perplexed. My scores are higher, utilization lower, HHI higher, and I got 5K @ 12.99, not even my highest limit. I'm calling them back again today.

I haven't used the account, but I deposited 1k into savings and left it there 3 months before applying. I also had no income verification.

I am NOT active duty.
Do you have direct deposit (DD)?

As the previous posters have mentioned, NFCU will spread the love if you reciprocate.

There are a lot of things Navy likes. They like DD, they like military active duty or retired, they like long-term members, they like substantial deposits ... and they like squeaky-clean credit -- though they are not afraid to lend to those with blemishes.

Re: NFCU approval!

Anonymous — Fri, 01 Apr 2011 00:09:20 GMT

Congratulations.

Re: NFCU approval!

700orbust — Fri, 01 Apr 2011 22:15:46 GMT

I may move 10k into the account and give a call to a real credit analyst...it's amazing people with low 600's are getting the same CL I got.

Re: NFCU approval!

Brusilov — Fri, 01 Apr 2011 23:40:16 GMT

If you're curious at the time of applying I had about $2000 in checking (my avg daily balance is between 1000-1500 most months) and just started a Special EasyStart Certificate a few months ago. I have around $500 in that.

Re: NFCU approval!

Anonymous — Sat, 02 Apr 2011 00:10:07 GMT

@700orbust wrote:
I may move 10k into the account and give a call to a real credit analyst...it's amazing people with low 600's are getting the same CL I got.

I would be extremely surprised if Navy federal turned around and gave you a better approval just because one day you depositied a little more money into your account. If you used it and opened a CD, perhaps that might nudge them, but just parking it in savings or checking probably wouldn't.

Why not just talk with one of their loan officers and see what their logic was in approving you? You are trying to compare yourself with others based only on credit score and that almost never works.

Re: NFCU approval!

700orbust — Sat, 02 Apr 2011 00:13:40 GMT

I understand that, it would be more to equate it towards the whole DD theory.

If they want to know I've got cash flow, then I'll show them I have it. I'm just surprised that DD makes the difference of 5k Vs 20k.

Re: NFCU approval

Woolfman — Sat, 02 Apr 2011 00:58:58 GMT

do you have other higher limit credit cards?