topic Re: NavCheck in Credit Cards

NavCheck

CS800 — Mon, 30 Apr 2012 20:07:45 GMT

Hello fellow NFCU member.

How is NavCheck reported on the credit reports? I just got approved for a NavCheck and curious to know how it reports.

Re: NavCheck

kjm79 — Mon, 30 Apr 2012 20:15:02 GMT

DH and were both recently approved as well. First CONGRATS! It hasn't showed up on our reports yet but I asked the same question here before apping, it reports as a revolcing tradeline was the answer I was given.

ETA: That would be a REVOLVING tradeline. Not "revolcing".

Re: NavCheck

CS800 — Mon, 30 Apr 2012 20:18:17 GMT

@kjm79 wrote:
DH and were both recently approved as well. First CONGRATS! It hasn't showed up on our reports yet but I asked the same question here before apping, it reports as a revolcing tradeline was the answer I was given.

ETA: That would be a REVOLVING tradeline. Not "revolcing".

Good to know it shows like a credit card.

I heard a lot about it so I went for it and was approved, then I asked the question hmmm how is this going to report. Glad I got the answer Thanks

Re: NavCheck

kjm79 — Mon, 30 Apr 2012 20:25:11 GMT

Just paying forward the myFICO knowledge!

Re: NavCheck

Datx — Mon, 30 Apr 2012 23:34:04 GMT

Ahem...its actually called Navchek.

And yes, it does report as a revolving tradeline. Works wonder if you have high util. Congrats!

Re: NavCheck

bichonmom — Tue, 01 May 2012 02:57:55 GMT

Don't mean to threadjack -- just wondering, when you app for NavChek, do you request a CL or do they just let you know what you were approved for? Are the CLs pretty much the same amounts as the CC CLs? Like, are you likely to get about the same CL for NavChek that you got for a CC w/them?

Nav Chek is only used as overdraft protection, right?

Thanks!

Re: NavCheck

webhopper — Tue, 01 May 2012 03:10:03 GMT

@bichonmom wrote:
Don't mean to threadjack -- just wondering, when you app for NavChek, do you request a CL or do they just let you know what you were approved for? Are the CLs pretty much the same amounts as the CC CLs? Like, are you likely to get about the same CL for NavChek that you got for a CC w/them?

Nav Chek is only used as overdraft protection, right?

Thanks!

I heard it was a Line Of Credit that you could write checks off of seperately from your checking account, you just have to request a checkbook for it.

Re: NavCheck

CS800 — Tue, 01 May 2012 03:36:10 GMT

@bichonmom wrote:
Don't mean to threadjack -- just wondering, when you app for NavChek, do you request a CL or do they just let you know what you were approved for? Are the CLs pretty much the same amounts as the CC CLs? Like, are you likely to get about the same CL for NavChek that you got for a CC w/them?

Nav Chek is only used as overdraft protection, right?

Thanks!

When i went for the NavChek, I didn't ask for an amount, they just gave me what they wanted practically.

Re: NavCheck

bichonmom — Tue, 01 May 2012 04:25:23 GMT

Thanks!

Re: NavCheck

CS800 — Tue, 01 May 2012 04:53:01 GMT

The max is $15k i think for NvChek

Re: NavCheck

Anonymous — Tue, 01 May 2012 15:58:45 GMT

You are correct that 15K is the Navchek maximum. It is an overdraft LOC but as noted above you can request checks to draw against it specifically. I have also gone in branch and had them draw from there and deposit it to my checking without waiting for an overdraft. The interest rate is a little high compared to the other NFCU products (Mine is 13.99% while my CC is 8.99% and cash advance is 10.99%). So it is not a line you want to carry a balance on for long. But it is great to have to help manage overall revolving utilization.

Re: NavCheck

kjm79 — Tue, 01 May 2012 16:33:22 GMT

@bichonmom wrote:
Don't mean to threadjack -- just wondering, when you app for NavChek, do you request a CL or do they just let you know what you were approved for? Are the CLs pretty much the same amounts as the CC CLs? Like, are you likely to get about the same CL for NavChek that you got for a CC w/them?

Nav Chek is only used as overdraft protection, right?

Thanks!

We requested a specific CL $7500, NFCU wanted income verficication which we sent in. NFCU gave us a CL of $8000.