topic Re: nfcu questions. in Credit Cards

nfcu questions.

Anonymous — Sat, 22 Dec 2012 22:04:52 GMT

What credit score did you have when you applied for their cc? Did you get approved? If so with what limit?

Re: nfcu questions.

Anonymous — Sat, 22 Dec 2012 22:08:51 GMT

Unsecured card, not the secured one.

Re: nfcu questions.

Anonymous — Sat, 22 Dec 2012 22:39:36 GMT

My eq when I got approved was 632 credit limit 5k just got a CLI of 10k when I hit 688. Hope that helps

Re: nfcu questions.

bichonmom — Sat, 22 Dec 2012 23:13:49 GMT

@Anonymous wrote:
What credit score did you have when you applied for their cc? Did you get approved? If so with what limit?

Navy goes by a lot more than your FICO when determining approval and your CL. I read a gazillion posts before and after I apped, and there is really no rhyme or reason to it. They admittedly have their own algorithm that they use. I had a FICO in the high 600s and expected a healthy CL when I apped. I had only one baddies that was a few months from dropping off - and it was only around $200. I was shocked when I only got $2k - and it was several days later - and I had to physically go to a branch to confirm my identity. (This was months after joining, too.)

i did get 2 CLIs - at 6 mos and just after 1 yr. first CLI was a hp. 2nd was soft, it appears so far.

That said, they have been much more generous than the local cu that I joined. Even if you start with a lower CL, it will grow with time.

Re: nfcu questions.

Anonymous — Sat, 22 Dec 2012 23:36:08 GMT

Both your comments are actually very helpful. 2k limit is rather high compared to my past cc's. id be happy with it especially if it grows ill apply sometime in the next month and ill let you know guys.

Re: nfcu questions.

Rhaeny — Sun, 23 Dec 2012 00:02:20 GMT

@bichonmom wrote:
@Anonymous wrote:
What credit score did you have when you applied for their cc? Did you get approved? If so with what limit?
Navy goes by a lot more than your FICO when determining approval and your CL. I read a gazillion posts before and after I apped, and there is really no rhyme or reason to it. They admittedly have their own algorithm that they use. I had a FICO in the high 600s and expected a healthy CL when I apped. I had only one baddies that was a few months from dropping off - and it was only around $200. I was shocked when I only got $2k - and it was several days later - and I had to physically go to a branch to confirm my identity. (This was months after joining, too.)

i did get 2 CLIs - at 6 mos and just after 1 yr. first CLI was a hp. 2nd was soft, it appears so far.

That said, they have been much more generous than the local cu that I joined. Even if you start with a lower CL, it will grow with time.

Yes I was just approved as well with a $2K limit and 707 EQ that I think is rather low in comparison to many others here, but I know it will increase over time so I'm good with it. Same here that on EQ as well I have some baddies that will all be off by February 2013 so I will give it like 6 months and see what cli I can get....hopefully it will be an sp but I have read that they are hp happy!

Re: nfcu questions.

j_casteel — Sun, 23 Dec 2012 00:07:57 GMT

Me:

TU-670

EQ-629

Approved for $8k Visa Siggy cashRewards card

Wife:

Similar scores except EQ is about 10-15 points higher.

Approved for $10k Visa Siggy cashRewards card

Both of us were approved within a day or so after joining. Basically, as soon as we got our online access we app'd for the cards.

Re: nfcu questions.

Anonymous — Sun, 23 Dec 2012 00:19:25 GMT

Tu 625 EQ 629 Visa Siggy cashRewards CL $7000 instantly approved in the branch on same day that I joined.

Re: nfcu questions.

bichonmom — Sun, 23 Dec 2012 00:40:34 GMT

These last 2 posts kind of prove my point. I had higher FICO, and only got $2k. Navy told me that they use an algorithm to be fair to all members. didn't seem so fair when people with much lower FICOs than I had were getting such higher CLs. That does seem to be the rule of thumb with them, but you can never be sure until you app.

Re: nfcu questions.

Rhaeny — Sun, 23 Dec 2012 00:46:49 GMT

@bichonmom wrote:
These last 2 posts kind of prove my point. I had higher FICO, and only got $2k. Navy told me that they use an algorithm to be fair to all members. didn't seem so fair when people with much lower FICOs than I had were getting such higher CLs. That does seem to be the rule of thumb with them, but you can never be sure until you app.

Yea it does suck but at least we're in the door! I'll wait a few months and request a cli and see what happens. What is your limit now and how long have you had the card, and which card? Do you use thier checking and savings account? Was thinking about using them but I haven't heard anything but about their cc's.

Re: nfcu questions.

j_casteel — Sun, 23 Dec 2012 01:10:25 GMT

@bichonmom wrote:
These last 2 posts kind of prove my point. I had higher FICO, and only got $2k. Navy told me that they use an algorithm to be fair to all members. didn't seem so fair when people with much lower FICOs than I had were getting such higher CLs. That does seem to be the rule of thumb with them, but you can never be sure until you app.

what's your aaoa? have a mortgage? how much salary?

Your scores are much much higher than mine so I'm not sure unless they took other stuff into consideration other than FICO score alone.

Re: nfcu questions.

Rhaeny — Sun, 23 Dec 2012 01:13:53 GMT

@j_casteel wrote:
@bichonmom wrote:
These last 2 posts kind of prove my point. I had higher FICO, and only got $2k. Navy told me that they use an algorithm to be fair to all members. didn't seem so fair when people with much lower FICOs than I had were getting such higher CLs. That does seem to be the rule of thumb with them, but you can never be sure until you app.

what's your aaoa? have a mortgage? how much salary?

Your scores are much much higher than mine so I'm not sure unless they took other stuff into consideration other than FICO score alone.

Baddies: Record of bk, and 3 to 4 accounts (depending on CRA) IIB that will fall off by May 2013 (7 years).

Scores: EQ 702, TU 674, EX 713

AAOA: EQ 6.8, TU 6.5, EX 5.4

Utilization: 15%

Inquiries: EQ 4, TU 9, EX 5 (all inq since 6/1/2012)

Income: $88K

Plus I have 10 new TL's from Sept 1st so I beleive that is what could have played a part in thier decision. I was really worried about those new TL's. That stupid shopping cart trick got me....sooooo wish I hadn't opened those.

Re: nfcu questions.

webhopper — Sun, 23 Dec 2012 01:18:17 GMT

My Tu was like 764 according to the letter they sent after my application. I was approved for 22k. My income and savings (paystubs; w2s; and bank statements) was already supplied to them because of a car refinance loan so I'm sure that helped.

My husbands score was around 667 and he was approved for 2.5k which was bumped up via HP to 4k before the card arrived. Hes at 9k now via 2 SP increases.

He got his card in may 2012 so ya the nfcu products will grow very fast!

Re: nfcu questions.

j_casteel — Sun, 23 Dec 2012 01:20:33 GMT

@Rhaeny wrote:
@j_casteel wrote:
@bichonmom wrote:
These last 2 posts kind of prove my point. I had higher FICO, and only got $2k. Navy told me that they use an algorithm to be fair to all members. didn't seem so fair when people with much lower FICOs than I had were getting such higher CLs. That does seem to be the rule of thumb with them, but you can never be sure until you app.

what's your aaoa? have a mortgage? how much salary?

Your scores are much much higher than mine so I'm not sure unless they took other stuff into consideration other than FICO score alone.
Baddies: Record of bk, and 3 to 4 accounts (depending on CRA) IIB that will fall off by May 2013 (7 years).
Scores: EQ 702, TU 674, EX 713
AAOA: EQ 6.8, TU 6.5, EX 5.4
Utilization: 15%
Inquiries: EQ 4, TU 9, EX 5 (all inq since 6/1/2012)
Income: $88K

Plus I have 10 new TL's from Sept 1st so I beleive that is what could have played a part in thier decision. I was really worried about those new TL's. That stupid shopping cart trick got me....sooooo wish I hadn't opened those.

i wonder if that hurt you more than the new TL's?

I don't have a BK but I do have a few CO's that I paid off which will be off my CR in the next 1.5-2 years. I also have double digit inquiries on both TU and EQ. Our income is about the same.

Re: nfcu questions.

martinkk — Sun, 23 Dec 2012 01:37:31 GMT

Do you have to ask for the CLI or are they automatic?

Re: nfcu questions.

webhopper — Sun, 23 Dec 2012 01:40:42 GMT

@martinkk wrote:
Do you have to ask for the CLI or are they automatic?

The answer is both... you can ask for them online and if the CLI is automatically approved then its usually a SP. If you don't ask; then they will automatically increase you over time.

Re: nfcu questions.

bichonmom — Sun, 23 Dec 2012 01:44:17 GMT

@j_casteel wrote:
@Rhaeny wrote:
@j_casteel wrote:
@bichonmom wrote:
These last 2 posts kind of prove my point. I had higher FICO, and only got $2k. Navy told me that they use an algorithm to be fair to all members. didn't seem so fair when people with much lower FICOs than I had were getting such higher CLs. That does seem to be the rule of thumb with them, but you can never be sure until you app.

what's your aaoa? have a mortgage? how much salary?

Your scores are much much higher than mine so I'm not sure unless they took other stuff into consideration other than FICO score alone.
Baddies: Record of bk, and 3 to 4 accounts (depending on CRA) IIB that will fall off by May 2013 (7 years).
Scores: EQ 702, TU 674, EX 713
AAOA: EQ 6.8, TU 6.5, EX 5.4
Utilization: 15%
Inquiries: EQ 4, TU 9, EX 5 (all inq since 6/1/2012)
Income: $88K

Plus I have 10 new TL's from Sept 1st so I beleive that is what could have played a part in thier decision. I was really worried about those new TL's. That stupid shopping cart trick got me....sooooo wish I hadn't opened those.
i wonder if that hurt you more than the new TL's?

I don't have a BK but I do have a few CO's that I paid off which will be off my CR in the next 1.5-2 years. I also have double digit inquiries on both TU and EQ. Our income is about the same.

Have you tried to gw the cos? Navy doesn't seem too inq sensitive. Try to get your util to under 10%, if poss. But they dont seem as concerned about that as other lenders are either. No baddies would do you a world of good, if you could get off.

Re: nfcu questions.

j_casteel — Sun, 23 Dec 2012 01:50:13 GMT

@bichonmom wrote:
@j_casteel wrote:
@Rhaeny wrote:
@j_casteel wrote:
@bichonmom wrote:
These last 2 posts kind of prove my point. I had higher FICO, and only got $2k. Navy told me that they use an algorithm to be fair to all members. didn't seem so fair when people with much lower FICOs than I had were getting such higher CLs. That does seem to be the rule of thumb with them, but you can never be sure until you app.

what's your aaoa? have a mortgage? how much salary?

Your scores are much much higher than mine so I'm not sure unless they took other stuff into consideration other than FICO score alone.
Baddies: Record of bk, and 3 to 4 accounts (depending on CRA) IIB that will fall off by May 2013 (7 years).
Scores: EQ 702, TU 674, EX 713
AAOA: EQ 6.8, TU 6.5, EX 5.4
Utilization: 15%
Inquiries: EQ 4, TU 9, EX 5 (all inq since 6/1/2012)
Income: $88K

Plus I have 10 new TL's from Sept 1st so I beleive that is what could have played a part in thier decision. I was really worried about those new TL's. That stupid shopping cart trick got me....sooooo wish I hadn't opened those.
i wonder if that hurt you more than the new TL's?

I don't have a BK but I do have a few CO's that I paid off which will be off my CR in the next 1.5-2 years. I also have double digit inquiries on both TU and EQ. Our income is about the same.
Have you tried to gw the cos? Navy doesn't seem too inq sensitive. Try to get your util to under 10%, if poss. But they dont seem as concerned about that as other lenders are either. No baddies would do you a world of good, if you could get off.

I have gotten a couple baddies off my CR, but there's few that won't budge no matter how much a bugged them. So i decide to just let them age off which is early and mid 2014. My UTI is usually around 10% or less but right now its sitting around 20% due to the holidays. I'm hoping by the time my baddies age off my scores will be awesome and I will buy another house at that time. Overall, I am completely happy that we joined NFCU. They gave us amazing products that no one else would have and I plan on moving as much of my business there as I can.

Re: nfcu questions.

bichonmom — Sun, 23 Dec 2012 04:03:50 GMT

Navy is definitely more forgiving than other CCs, so you should be fine. You can always CLI when your cr is better.

Re: nfcu questions.

Mish0817 — Sun, 23 Dec 2012 04:24:58 GMT

Are all of you doing your complbanning king with the Nfcu?