topic Re: Joined NFCU and Debating Next Steps in Credit Cards

Joined NFCU and Debating Next Steps

BigBS — Tue, 18 Mar 2014 22:55:57 GMT

So, after much discussion in my other thread related to LMCU I took the plunge and joined NFCU today. Am debating on applying for a CC and/or LOC now or just letting the membership stand for mortgage application next summer. I know everyone would recommend applying for both because of the customer service and incredible CLIs, but don't know if I really need that right now. I don't know maybe I'm just a little soured to the process now.

Re: Joined NFCU and Debating Next Steps

BootStraps — Tue, 18 Mar 2014 23:10:07 GMT

I would suggest that you sit back and breathe for 24 hours since you seem a bit burned out on the subject. Revisit the subject after that. If you are planning to app for a mortgage next summerjustmake sure that you minimize apping after the Spring. This gives youplenty of time to decide if you want any other NFCU products or not.

If you don't want to be bothered with the credit card, the LOC is basically a no maintenece credit relationship.(No use required to keep open.)

All of this said,the general rule is to not app for credit that youdon't need. Clearly you have already learned to navigate that, considering your scores. If you decide during the spring that you don't want any more credit products, it doesn't matter what NFCU has; don't get it.

Re: Joined NFCU and Debating Next Steps

Creditaddict — Tue, 18 Mar 2014 23:24:22 GMT

@BigBS wrote:
So, after much discussion in my other thread related to LMCU I took the plunge and joined NFCU today. Am debating on applying for a CC and/or LOC now or just letting the membership stand for mortgage application next summer. I know everyone would recommend applying for both because of the customer service and incredible CLIs, but don't know if I really need that right now. I don't know maybe I'm just a little soured to the process now.

Doesn't look like you need them and doesn't look like you would really have to play any CLI game of Navy since I would bet the house you would be approved instantly for the $25k credit card and $15k loc so really it would be rather you wanted to push more towards the max of your income (I would assume pushing $50k+ based on your other limits if you wanted to provide them to Navy for manual review after the instant approvals)

so otherwise my only argument to applying now would be the 30k point bonus on the flagship right now.

Re: Joined NFCU and Debating Next Steps

BigBS — Wed, 19 Mar 2014 00:13:20 GMT

@Creditaddict wrote:
@BigBS wrote:
So, after much discussion in my other thread related to LMCU I took the plunge and joined NFCU today. Am debating on applying for a CC and/or LOC now or just letting the membership stand for mortgage application next summer. I know everyone would recommend applying for both because of the customer service and incredible CLIs, but don't know if I really need that right now. I don't know maybe I'm just a little soured to the process now.
Doesn't look like you need them and doesn't look like you would really have to play any CLI game of Navy since I would bet the house you would be approved instantly for the $25k credit card and $15k loc so really it would be rather you wanted to push more towards the max of your income (I would assume pushing $50k+ based on your other limits if you wanted to provide them to Navy for manual review after the instant approvals)
so otherwise my only argument to applying now would be the 30k point bonus on the flagship right now.

I couldn't do justice by the Flagship card. I have $3k to spend on my Barclays and $2k to spend on my AMEX Platinum and that's going to be hard to do. If I was going to get a card it would most likely be the cashRewards or the Platinum. Maybe I've just lost the hunger, the zest, the feel for the game. Maybe I should just hang up my shoes and watch the young kids do their thing. The light is getting really dim. I think I'll just go to pasture now.

Naw, not doing that, but will wait a while before doing another app. Unless there is a promotion that I just can't do without. Or next week comes whichever is first.

Re: Joined NFCU and Debating Next Steps

BigBS — Wed, 19 Mar 2014 00:38:57 GMT

@BootStraps wrote:
I would suggest that you sit back and breathe for 24 hours since you seem a bit burned out on the subject. Revisit the subject after that. If you are planning to app for a mortgage next summerjustmake sure that you minimize apping after the Spring. This gives youplenty of time to decide if you want any other NFCU products or not.

If you don't want to be bothered with the credit card, the LOC is basically a no maintenece credit relationship.(No use required to keep open.)

All of this said,the general rule is to not app for credit that youdon't need. Clearly you have already learned to navigate that, considering your scores. If you decide during the spring that you don't want any more credit products, it doesn't matter what NFCU has; don't get it.

You are absolutely right. No need to rush, but if I do get something it needs to be before the end of April which will give me 15 months before I have to apply for a mortgage.

Re: Joined NFCU and Debating Next Steps

BigBS — Wed, 19 Mar 2014 17:47:14 GMT

Maybe I didn't get enough sleep last night because I woke up feeling as though I should pull the trigger. Still can't justify a need other than to have more credit (most of which I probably wouldn't use). Good thing I have some other things to keep me busy the rest of the day.

Re: Joined NFCU and Debating Next Steps

Creditaddict — Wed, 19 Mar 2014 20:04:31 GMT

@BigBS wrote:
Maybe I didn't get enough sleep last night because I woke up feeling as though I should pull the trigger. Still can't justify a need other than to have more credit (most of which I probably wouldn't use). Good thing I have some other things to keep me busy the rest of the day.

your killing me... each time I see a new post to thread I think I'm going to see your approval thread with amount!!

Re: Joined NFCU and Debating Next Steps

BigBS — Thu, 20 Mar 2014 02:46:33 GMT

@Creditaddict wrote:
@BigBS wrote:
Maybe I didn't get enough sleep last night because I woke up feeling as though I should pull the trigger. Still can't justify a need other than to have more credit (most of which I probably wouldn't use). Good thing I have some other things to keep me busy the rest of the day.
your killing me... each time I see a new post to thread I think I'm going to see your approval thread with amount!!

Not trying to, in fact Im trying to stay in the garden. It's hard though. I did want to ask if you are supposed to get a personal account manager? I have never heard of that before with a credit union. Had a message that the individual was trying to get in touch with me to help me setup my account and ensure I was taking advantage of all the products that I needed. How can they do that with over half a million members?

Re: Joined NFCU and Debating Next Steps

Creditaddict — Thu, 20 Mar 2014 02:52:59 GMT

@BigBS wrote:
@Creditaddict wrote:
@BigBS wrote:
Maybe I didn't get enough sleep last night because I woke up feeling as though I should pull the trigger. Still can't justify a need other than to have more credit (most of which I probably wouldn't use). Good thing I have some other things to keep me busy the rest of the day.
your killing me... each time I see a new post to thread I think I'm going to see your approval thread with amount!!
Not trying to, in fact Im trying to stay in the garden. It's hard though. I did want to ask if you are supposed to get a personal account manager? I have never heard of that before with a credit union. Had a message that the individual was trying to get in touch with me to help me setup my account and ensure I was taking advantage of all the products that I needed. How can they do that with over half a million members?

Yeah gardening is hard.

they call right at first, you probably won't ever hear or deal with that same person again.

Re: Joined NFCU and Debating Next Steps

BigBS — Thu, 20 Mar 2014 07:38:15 GMT

@Creditaddict wrote:
@BigBS wrote:
@Creditaddict wrote:
@BigBS wrote:
Maybe I didn't get enough sleep last night because I woke up feeling as though I should pull the trigger. Still can't justify a need other than to have more credit (most of which I probably wouldn't use). Good thing I have some other things to keep me busy the rest of the day.
your killing me... each time I see a new post to thread I think I'm going to see your approval thread with amount!!
Not trying to, in fact Im trying to stay in the garden. It's hard though. I did want to ask if you are supposed to get a personal account manager? I have never heard of that before with a credit union. Had a message that the individual was trying to get in touch with me to help me setup my account and ensure I was taking advantage of all the products that I needed. How can they do that with over half a million members?
Yeah gardening is hard.
they call right at first, you probably won't ever hear or deal with that same person again.

That's what I thought.

Re: Joined NFCU and Debating Next Steps

BigBS — Thu, 20 Mar 2014 11:56:44 GMT

Well, logged into my account this morning and what did I have awaiting me . . . a pre-selected offer for the cashRewards VISA. Debated for a few minutes and decided why not? Filled out the information, hit submit, and 'Review in Process.' Guess we'll see what that means. Interestingly, once I completed and logged off decided to log back on and got a pre-approval for an auto loan.

Re: Joined NFCU and Debating Next Steps

takeshi74 — Thu, 20 Mar 2014 12:30:45 GMT

@BigBS wrote:
Still can't justify a need other than to have more credit (most of which I probably wouldn't use).

Keep in mind the recommended levels for utilization. You don't want credit limits that are at the amount you need. That would leave you with very high utilization. You ideally want credit limits that put your spend at ~10% or less utilization (i.e. ~90% unused).

Re: Joined NFCU and Debating Next Steps

Creditaddict — Thu, 20 Mar 2014 14:19:21 GMT

@BigBS wrote:
Well, logged into my account this morning and what did I have awaiting me . . . a pre-selected offer for the cashRewards VISA. Debated for a few minutes and decided why not? Filled out the information, hit submit, and 'Review in Process.' Guess we'll see what that means. Interestingly, once I completed and logged off decided to log back on and got a pre-approval for an auto loan.

They probably will ask for paystubs and approve you for more than $25k!

Re: Joined NFCU and Debating Next Steps

BigBS — Thu, 20 Mar 2014 16:33:30 GMT

@Creditaddict wrote:
@BigBS wrote:
Well, logged into my account this morning and what did I have awaiting me . . . a pre-selected offer for the cashRewards VISA. Debated for a few minutes and decided why not? Filled out the information, hit submit, and 'Review in Process.' Guess we'll see what that means. Interestingly, once I completed and logged off decided to log back on and got a pre-approval for an auto loan.
They probably will ask for paystubs and approve you for more than $25k!

No such luck. Approved for $15k and 9.24%.

Re: Joined NFCU and Debating Next Steps

credit-hunter — Thu, 20 Mar 2014 16:59:03 GMT

dont worry that 15k will be 25k in no time..lol congrats

Re: Joined NFCU and Debating Next Steps

BigBS — Fri, 21 Mar 2014 21:21:40 GMT

@credit-hunter wrote:
dont worry that 15k will be 25k in no time..lol congrats

How right you are! Recon'ed this morning and got a SM telling me that the new limit is $30K. I was shocked since I only asked for $25K. Sent in my pay statement, so perhaps that helped.

Re: Joined NFCU and Debating Next Steps

Creditaddict — Fri, 21 Mar 2014 21:22:32 GMT

@BigBS wrote:
@credit-hunter wrote:
dont worry that 15k will be 25k in no time..lol congrats
How right you are! Recon'ed this morning and got a SM telling me that the new limit is $30K. I was shocked since I only asked for $25K. Sent in my pay statement, so perhaps that helped.

HAHA, Told you over $25k

Re: Joined NFCU and Debating Next Steps

BigBS — Fri, 21 Mar 2014 21:27:39 GMT

@Creditaddict wrote:
@BigBS wrote:
@credit-hunter wrote:
dont worry that 15k will be 25k in no time..lol congrats
How right you are! Recon'ed this morning and got a SM telling me that the new limit is $30K. I was shocked since I only asked for $25K. Sent in my pay statement, so perhaps that helped.
HAHA, Told you over $25k

Yes, you did. Thanks for believing.