topic Re: NFCU cc app, no instant decision? in Credit Cards

NFCU cc app, no instant decision?

Anonymous — Wed, 22 Jun 2011 15:57:35 GMT

I was wondering what experience people have had recently applying for credit cards from NFCU? I just applied over the phone (since my online account isn't set up yet), and they told me to call back within 1 business day to ask. So it wasn't an instant approval, or an instant denial - I'm trying to decide if I should be bracing for a denial or not. I really don't like not getting instant responses, since I end up having to nervously wait until they give me an answer.

Re: NFCU cc app, no instant decision?

Anonymous — Wed, 22 Jun 2011 16:44:20 GMT

@Anonymous wrote:
I was wondering what experience people have had recently applying for credit cards from NFCU? I just applied over the phone (since my online account isn't set up yet), and they told me to call back within 1 business day to ask. So it wasn't an instant approval, or an instant denial - I'm trying to decide if I should be bracing for a denial or not. I really don't like not getting instant responses, since I end up having to nervously wait until they give me an answer.

Hi Andy, which of their product did you app for?

Here is one of our member's post regarding instant approval with NFCU.

http://ficoforums.myfico.com/t5/Credit-Cards/NFCU-Visa-Approval/td-p/947414

It is not just you ... most of us are so anxious to find out that he/she has been approved or not and its CL. Just stay tight and wait for tomorrow.

Re: NFCU cc app, no instant decision?

Anonymous — Wed, 22 Jun 2011 16:49:05 GMT

I applied for the Cash Rewards. I was going to do the nRewards, but decided I might as well go for cash rewards, since it ends up being more useful if I have a lot of usage on it

They told me on the phone that if I get denied for that, I can always recon it. I asked about the secured card, and they said they can put through an app for that with the same credit inquiry if I get denied as long as it's within 30 days. So I figured this way I'll at least get a shot at geting the unsecured card and if I do get denied, I can always apply for the nRewards secured. They have a 0% BT for 12 monts offer so I figured if I do get approved, I can move what balances I have on Cap One over to NFCU and keep my Cap One cards just as emergency backup funding.

I just hate not knowing! I'd almost rather get instantly denied (well, not really) than have to wait for a response. I keep trying to think of an excuse to call them and pester them about my app status, althoughI know it won't actually do any good.

Re: NFCU cc app, no instant decision?

Anonymous — Wed, 22 Jun 2011 17:02:44 GMT

DW and I were approved instantly for $7k on the nRewards card. BK was dismissed one year ago. We were amazed. Also worth noting, we applied while opening up our account. Maybe since you didn't apply with opening your account, they want to verify identity and such first? I dunno. We figured since they were going to pull hard to open the checking/savings, we might as well apply right then. Glad we did! Good luck.

Re: NFCU cc app, no instant decision?

Anonymous — Wed, 22 Jun 2011 17:10:57 GMT

@Anonymous wrote:
I applied for the Cash Rewards. I was going to do the nRewards, but decided I might as well go for cash rewards, since it ends up being more useful if I have a lot of usage on it

They told me on the phone that if I get denied for that, I can always recon it. I asked about the secured card, and they said they can put through an app for that with the same credit inquiry if I get denied as long as it's within 30 days. So I figured this way I'll at least get a shot at geting the unsecured card and if I do get denied, I can always apply for the nRewards secured. They have a 0% BT for 12 monts offer so I figured if I do get approved, I can move what balances I have on Cap One over to NFCU and keep my Cap One cards just as emergency backup funding.

I just hate not knowing! I'd almost rather get instantly denied (well, not really) than have to wait for a response. I keep trying to think of an excuse to call them and pester them about my app status, althoughI know it won't actually do any good.

Andy, it's smart decision!

Why? This rewards program is not that good as used to be any more, and it does not give you same $ as cashRewards when you redeem its pts.

Re: NFCU cc app, no instant decision?

Anonymous — Wed, 22 Jun 2011 18:18:19 GMT

That's what I figured after looking at the rewards - you get 1 point either way, and for nRewards, at best, you'll get 1% ($-value) per point back. With Cash Rewards, it's always at least 1%, and goes up to 1.5% if you spend 10k or more a year. I figure if I get the card, I'll just push all my purchases through on that and stop using the other CCs I have except for whatever recurring minor monthly bills I have or some Starbucks here or there.

I was going to apply for the CC last night when my membership was finally approved, but by the time I was done talking to the rep (he took a good 40 mins to explain all the benefits/features/services, nice and all but took forever), I was just too tired to talk to someone at the CC department. So I applied this morning instead. I'm sure they'll still have to do a second hard pull even though my account just got opened.

Re: NFCU cc app, no instant decision?

llecs — Wed, 22 Jun 2011 19:04:11 GMT

Both DW and I applied and were instantly approved on seperate accounts for the CashRewards back in March and February respectively.

Re: NFCU cc app, no instant decision?

Anonymous — Wed, 22 Jun 2011 19:46:24 GMT

That's what I expected, instant approval or denial - but she said it generally takes 24 hours for the application to be processed. Then again, she could have just been saying that.

Re: NFCU cc app, no instant decision?

Datx — Wed, 22 Jun 2011 20:46:22 GMT

@Anonymous wrote:
That's what I expected, instant approval or denial - but she said it generally takes 24 hours for the application to be processed. Then again, she could have just been saying that.

It really varies. I remember the days when ppl were being switched over from USAFed over to NFCU, there were quite a few ppl claiming that NFCU does manual reviews for CCs. Some reported instant approvals when applying online through the online banking account. I got an instant approval as well when I applied online while there were quite a few others getting approved a few days later. Rumor going around that they may be busy in the CC dept because of the 0% BT offer going on. Patience my friend, patience.

Re: NFCU cc app, no instant decision?

Anonymous — Wed, 22 Jun 2011 22:06:32 GMT

@MyCreditStinks wrote:
It really varies. I remember the days when ppl were being switched over from USAFed over to NFCU, there were quite a few ppl claiming that NFCU does manual reviews for CCs. Some reported instant approvals when applying online through the online banking account. I got an instant approval as well when I applied online while there were quite a few others getting approved a few days later. Rumor going around that they may be busy in the CC dept because of the 0% BT offer going on. Patience my friend, patience.

You're right, of course. I just wish all approvals were instant, since any time I've received a 7-10 day message (or whatever they are) I usually end up with a denial. Instant approvals, on the other hand, are instant.

The rep who gave me my membership information yesterday was the one who mentoned that 0% BT offer, so they really must be pushing it. As part of the app process over the phone today (they just confirmed a few details and asked for my income), they asked if I wanted to do a BT. I told them that if I was approved for a high enough CL, I would. So I guess we'll see. Hoping for the best, but I guess worse case scenario, I can always get the secured card and suffer through the year or so to unsecure it.

Re: NFCU cc app, no instant decision?

ShootingStar — Wed, 22 Jun 2011 23:29:33 GMT

Mine was instant too, but also important to note -- I had a checkings/savings with them for almost two years (don't use), and I think I applied while logged onto my online account. I'm sure it will be fine - sounds like it really varies.

Re: NFCU cc app, no instant decision?

Anonymous — Thu, 23 Jun 2011 01:07:50 GMT

When applying online I have never had what I would call "instant" approvals, but after 15 minutes or so I'd log back in and see where it was approved.

Calling in and applying has always resulted in instant approvals for me, but it wouldn't showed approved under the online application status for at least two days.

Strange.

Re: NFCU cc app, no instant decision?

TangMeister — Thu, 23 Jun 2011 03:08:39 GMT

Navy is one of the few banks/CUs I've seen that give instant approvals at $25k to people. That just amazes me. I've had a few $20k instants over the years, but that's as high as I've ever gotten.

OP, good luck with your app!

Re: NFCU cc app, no instant decision?

NeedinHelp42 — Thu, 23 Jun 2011 17:05:20 GMT

I did an app yesterday for the Cash Rewards. Had just opened a checking and savings account a couple hours earlier and knowing I was going to apply for an NFCU credit card in short order anyway, was hoping to avoid a double hit. Rep informed me that they do TU for the checking and EQ for the cards now, but I went ahead and did it anyway. She took all the necessary information from me and then said, "your application has been accepted. Just wait for an email or check back on the website for a message when you log into your account and it will tell you if you got the card." In retrospect, I probably should have asked what "my application has been accepted" meant. Was that an approval and I'm waiting on details, or was that simply saying I am who I am with a legit ss# etc?

So yes, it's been less than 24 hours and I'm reduced to loggin into the NFCU website every few hours to see if I've gotten a decision because I am freakin impatient.

Right now I've got a handful of rebuilder cards, and beyond my $3k Dell account, my biggest credit lines are all $500-$750. I've rebuilt from mid 500s last year to 660s across the board as of this month. After reading all the positive success stories on here regarding NFCU, I thought I would go ahead and take a shot to see if I could actually get a substantial credit line. Now I'm just doing the being impatient thing. Argh!

Re: NFCU cc app, no instant decision?

Anonymous — Thu, 23 Jun 2011 17:39:06 GMT

You already received your online login info? I talked to them on the phone and they said there's no way for me to set up online access until I get the letter in the mail, so I've been having to call their automated phone system to check on the app status.

Re: NFCU cc app, no instant decision?

NeedinHelp42 — Thu, 23 Jun 2011 18:10:27 GMT

My wife's brother is active Navy, and she actually opened a savings account there about a year ago-its had all of $20 in it since that time. We just wanted to make sure we could get into NFCU, knowing we'd be home hunting here in the next few years. I was an authorized or added user, or whatever they call it, on that account, so I had online access to an account, and therefore an access code. So the CSR literally set it up and told me to log in, and it was there.

Re: NFCU cc app, no instant decision?

Anonymous — Thu, 23 Jun 2011 18:19:20 GMT

@Anonymous wrote:
I was wondering what experience people have had recently applying for credit cards from NFCU? I just applied over the phone (since my online account isn't set up yet), and they told me to call back within 1 business day to ask. So it wasn't an instant approval, or an instant denial - I'm trying to decide if I should be bracing for a denial or not. I really don't like not getting instant responses, since I end up having to nervously wait until they give me an answer.

@NeedinHelp42 wrote:
I did an app yesterday for the Cash Rewards. Had just opened a checking and savings account a couple hours earlier and knowing I was going to apply for an NFCU credit card in short order anyway, was hoping to avoid a double hit. Rep informed me that they do TU for the checking and EQ for the cards now, but I went ahead and did it anyway. She took all the necessary information from me and then said, "your application has been accepted. Just wait for an email or check back on the website for a message when you log into your account and it will tell you if you got the card."

So yes, it's been less than 24 hours and I'm reduced to loggin into the NFCU website every few hours to see if I've gotten a decision because I am freakin impatient.

@NeedinHelp42 wrote:
My wife's brother is active Navy, and she actually opened a savings account there about a year ago-its had all of $20 in it since that time. We just wanted to make sure we could get into NFCU, knowing we'd be home hunting here in the next few years. I was an authorized or added user, or whatever they call it, on that account, so I had online access to an account, and therefore an access code. So the CSR literally set it up and told me to log in, and it was there.

@Anonymous wrote:
You already received your online login info? I talked to them on the phone and they said there's no way for me to set up online access until I get the letter in the mail, so I've been having to call their automated phone system to check on the app status.

Andy ...

NeedinHelp's DW has opend saving acct a yr a go ... which is has online acct access.

Re: NFCU cc app, no instant decision?

Anonymous — Thu, 23 Jun 2011 18:17:31 GMT

Yeah, I have both a Savings and Checking account with them now, but they told me that to get online access to the accounts, I have to wait on a letter in the mail that has the activation instructions. The online signup option just sends out that same letter. She said it'll be within 5 days, so it shouldn't be that bad of a wait. I was just hoping I could sign up faster since I'd rather do things online than over the phone.

Re: NFCU cc app, no instant decision?

Anonymous — Thu, 23 Jun 2011 18:26:59 GMT

@Anonymous wrote:
Yeah, I have both a Savings and Checking account with them now, but they told me that to get online access to the accounts, I have to wait on a letter in the mail that has the activation instructions. The online signup option just sends out that same letter. She said it'll be within 5 days, so it shouldn't be that bad of a wait. I was just hoping I could sign up faster since I'd rather do things online than over the phone.

Sorry ... I kind of messed up my reply.

Remember, when they tell you how many days mean is ONLY count business days, does not count the weekends.

Your app was on Wednesday ~ I assume you will have a letter in the mail by the end of this month ... may be on the 28th or 29th or 30th.

Andy which state do you live? Most of the lettesr are coming from East coast ... VA ... if I am not wrong.

Re: NFCU cc app, no instant decision?

Anonymous — Thu, 23 Jun 2011 18:28:54 GMT

Yeah, it's always business days. They told my wife the same about getting her initial welcome letter and it arrived in 2 business days (signed up Thursday night, arrived on Monday). I'm not that concerned about the online access, I know I'll get it when I get the letter in the mail. I'd just feel better refreshing and checking an online form instead of calling the automated phone system. The fact that it's been over 24 hours and it's giving me the same 24h message (or just goes completely mute and says nothing every couple of tries) just gives me a bad feeling I'll have to recon. Guess we'll see. I don't even know if they have a recon number or if I'll have to mail a letter.