topic Re: NFCU Application in Credit Cards

NFCU Application

bichonmom — Tue, 18 Oct 2011 07:03:12 GMT

I was wondering about the different messages people have gotten after applying and whether they were approved or not. I've read many messages on the forum, and it seems most people have gotten a 24-hour message or 1 to 3 days message, after applying. My screen read that I'd hear in 3 to 5 days, so now I'm wondering if that means I'm not going to be approved.

Also, under my "offers" tab, they were "offering" the *secured* credit card. So, that also has given me cause for concern. Maybe based on the soft pull they did when I joined a few months ago, they have determined that that's all I'd qualify for.

My FICO scores are about 675 EQ and 693 TU the last time I checked. I'm really concerned now that they won't approve me because I have a "thin file."

Can anyone share their experiences w/NFCU? I haven't read anything here about anyone not being approved, but I may have just missed those posts.

Thank you!

Re: NFCU Application

IOBA — Tue, 18 Oct 2011 14:18:46 GMT

If you are not approved for the card you applied for with Navy, they will most likely offer you something else.

If you are denied for a card, wait 12 months, build your relationship with them (to include regular direct deposits if you can, and a growing savings balance) and reapply.

Re: NFCU Application

Anonymous — Tue, 18 Oct 2011 15:51:06 GMT

NFCU frequently generates the "WAIT" message on apps. It never seems to take as long as they say. I have had the check application status change to approved in as little as 20 minutes and if I remember correctly on my first CC with them it took a little over 24 hours. Your scores are acceptable for Navy. If there are not a lot of derogatory info in your reports you should be good. They seem to be willing to forgive some minor missteps. I had 3 or 4 minor derogatory items at the time of approval. But I did have a year long relationship and direct deposit also which seems to make a difference.

Re: NFCU Application

bichonmom — Tue, 18 Oct 2011 16:11:40 GMT

Thank you for your replies. I only have one collection due to drop off in Jan/Feb. I probably should have waited but really wanted to start getting the 1% cash back. I'll log in today and see what it says. Fingers crossed.

Re: NFCU Application

bichonmom — Wed, 19 Oct 2011 20:53:22 GMT

It's been 2 days and still no answer. When I log in, it says, "review in process." The phone rep said it can take 3 to 5 days, but everyone that I've read about here got instant approval.

Has anyone had to wait and been approved?

I really thought that with my score of 675 and util <9%, I'd be approved for something. This is really frustrating, and I can't help but be concerned that they are either going to not approve me or give another piddly-limit card.

Would really like to know what others have experienced in terms of waiting time and approval or decline.

Thanks!

Re: NFCU Application

Anonymous — Wed, 19 Oct 2011 23:35:54 GMT

I joined NFCU in late August. Opened a checking and savings account with direct deposit. Under my offers it also was inviting me to app for their secured card. My scores had gone up a bit since I opened my accounts and I didn't want a secured card. 2-3 weeks ago I decided to app for their cash rewards card. I got the we'll let you know within 24 hours message. I checked back a few hours later and I was approved for $1k. Not much, but considering I have 2 CO's in the past year and 1 CA on my reports I consider myself lucky. With your scores you should be approved, even with minor derogs.

Do you have direct deposit with them? And even if they start you out at a small limit, keep in mind the card will grow with you. It's a foot in the door.

Re: NFCU Application

bichonmom — Wed, 19 Oct 2011 23:58:45 GMT

Thanks, tjmmp56

What's odd is that my message didn't say 24 hours; it said 3 to 5 days.I'm trying to hope for the best, but don't feel very optimistic at this point. Plus, now I've been dinged with an inquiry.

I do not have direct deposit and can't since I'm self-employed. I haven't used the ckg/svgs accts as there isn't a branch near me. I do wonder if that might be making a difference, but can't really change it now.

$1k would be something, but i'm really hoping for more because it's kind of a pain to work w/a card with low CL. I'm always afraid I'll miss something and end up over the limit. Also, it would be nice to not have to pay *before* the stmt even cuts in order to have my util low. I'd like to use the card and pay it maybe once or twice a month, so I can get the cash rewards. And I'd like to dump my Cap Ones that I know from speaking w/Cap One will never get beyond $1K and $750 CL.

It's very frustrating when I'm reading people here w/lower scores than me getting $14K, $15K, $20K etc.

Re: NFCU Application

Anonymous — Thu, 20 Oct 2011 00:15:49 GMT

I can see how it could be frustrating to you. Having the direct deposit may be what the hold up is all about. Not sure, but maybe if you set up recurring transfers from your checking to savings account that might help?? I don't know, just a thought. NFCU has been great for my DW and for me. She's got one of the $15k card albeit she has better scores.

When we were refinancing our truck, she applied for the refinance by herself as I wasn't a member yet. It took a few days to get approval for the refi. She was constantly checking online and calling for the status. Ended up being approved but the process did take longer than expected. Just hang in there. Good luck!

Re: NFCU Application

score_building — Thu, 20 Oct 2011 02:25:08 GMT

Self employed status may be a contributing factor, just be patient, my guess is that we will soon be celebrating good fortune

Instants appear to be less common than an under review msg from NFCU from what i've read and experienced. Try to enjoy the suspense, with NFCU it is almost always worth the wait!

Generally, if it were a denial, there would be no need for deliberation. A denial from NFCU in your score bracket would seem kinda odd. EQ was 750ish here and both Visa and NAVchek went under review prior to approval. In any case, won't be long now, hang in and GL!

Re: NFCU Application

bichonmom — Thu, 20 Oct 2011 02:24:55 GMT

Thanks! I'll post when I hear back.

Re: NFCU Application

Anonymous — Thu, 20 Oct 2011 02:37:53 GMT

I applied for the Cash Rewards NFCU card this afternoon and it said that it would take 3-5 days. I checked when I got home, and saw that I was approved for 10K. My EQ score from this website is 655. I didn't think that I would get it, but I was tempted to apply after reading about the card and approvals. Good luck!

Re: NFCU Application

bichonmom — Thu, 20 Oct 2011 02:50:06 GMT

Thanks, GWUMBA13. Your post just makes me wonder what's taking so long with my app? If you got the same 3-5 day message and got approved the same day w/a FICO 20 points lower than me, what's going on???? Sheesh! As much as I want to be approved, I just really want to know at this point. The not knowing is driving me nuts!

Re: NFCU Application

Chaos122 — Thu, 20 Oct 2011 17:40:15 GMT

Hey, dont worry you still have a shot. I got the same message, 2 days later they called and asked for paystubs. another 3 days and was approved. 5 days total, but that included the weekend. so 3 business days.. Dont sweat it

Re: NFCU Application

bichonmom — Thu, 20 Oct 2011 18:10:00 GMT

Well, I'm glad you were approved. I wonder why some get automatic (or reallly fast) approvals, while others take longer and need to provide information.

Some people have brand new accts with them and still get instant approval for credit, so I'm not seeing a reason or pattern for the delay.

I guess time will tell.

Re: NFCU Application

hedgeclipper2 — Thu, 20 Oct 2011 18:41:14 GMT

I wouldn't worry about them AT ALL.

My roommate got into NFCU since she lives with me, and I got her to apply for the CashRewards card.

Instantly approved for $7,500. Her scores are way lower than yours, and she had 3 chargeoffs 18 months ago.

I have her as an auth user on my Travelocity card with Barclays with a $10k limit. I think that might have helped with her limit because her highest limit in her own name is only $1,500 on a store card.

But don't worry, I myself have never gotten anything instant from them, and I have a $20k cashrewards card and a $15k navchek with them. An my scores at that time when I got those were about where yours are. Cashrewards was originally approved at $5k, and Navheck at $5k.

Re: NFCU Application

Anonymous — Thu, 27 Oct 2011 16:59:25 GMT

@bichonmom wrote:
Well, I'm glad you were approved. I wonder why some get automatic (or reallly fast) approvals, while others take longer and need to provide information.

Some people have brand new accts with them and still get instant approval for credit, so I'm not seeing a reason or pattern for the delay.

I guess time will tell.

just checking to see if you ever got your results from NFCU?

Re: NFCU Application

bichonmom — Thu, 03 Nov 2011 19:26:36 GMT

They required that I physically go to a branch to confirm my identity, which took a while as there isn't a branch nearby. They only approved me for $2k, and I have NO debt. I'm really disappointed, when I read here about people getting $10k and more with similar scores to me. It's like I'm in credit he!!, and can't get out no matter how hard I try.

This will probably on make things worse because it's going to zap my AAoA and NOT help my util much at all. I was hoping for a $10 K card so I could use it for my monthly expenses (for the rewards) and then pay it off once or twice a month, and wouldn't have to worry about my util.

Does anyone know what their policies are on CLIs? Do they do another hard pull for that? How soon can you request one?

Re: NFCU Application

UFGuy2006 — Thu, 03 Nov 2011 19:33:59 GMT

I hear that if you get in and show them you are responsible, the CLI will definitely pay off. Not sure how soon you can request one tho. Congrats!

Re: NFCU Application

bichonmom — Thu, 03 Nov 2011 19:38:32 GMT

Thanks. I just don't get *why* they gave me such a LOW limit. This thread alone has people w/scores lower than me getting 3 to 4 times the limit. I just don't get it. It's SO frustrating.

I don't want to have to wait and get yet another hard pull for a possible CLI. I'd imagine I'd have to wait at least 6 to 12 months, based on what another CU told me.

Re: NFCU Application

Anonymous — Thu, 03 Nov 2011 20:13:11 GMT

My husband and I applied online when opening our account. We were denied because we hadn't been members for very long. We wrote a short reconsideration message and received a notice saying that it was sent to their Lending Committee and we won't see a result for 2-3 weeks The anticipation is killing me!