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PAYING NAVY FEDERAL

sihmud
New Member

PAYING NAVY FEDERAL

I recently included navy federal credit card in a CPT 7 BK. balance was 5,300. I am considering paying off the debt after discharge because I believe they are a good CU with good lending products and would hate to lose out on their products. has anyone ever paid off Navy fed after discharge and was approved for a card after? id like to see what my chances of approval are before I go and pay a discharged debt to them.

6 REPLIES 6
CH-7-Rebuilding
Valued Contributor

Re: PAYING NAVY FEDERAL AFTER DISCHARGE


@sihmud wrote:

I recently included navy federal credit card in a CPT 7 BK. balance was 5,300. I am considering paying off the debt after discharge because I believe they are a good CU with good lending products and would hate to lose out on their products. has anyone ever paid off Navy fed after discharge and was approved for a card after? id like to see what my chances of approval are before I go and pay a discharged debt to them.


Once you pay them back in full, they will lend to you right away.   It is as if they never had an issue with you.   I did not burn Navy, but if I had, and the amount was like the $5K you owe, I would pay them back to get in with them.

Message 2 of 7
sihmud
New Member

Re: PAYING NAVY FEDERAL AFTER DISCHARGE


@CH-7-Rebuilding wrote:

@sihmud wrote:

I recently included navy federal credit card in a CPT 7 BK. balance was 5,300. I am considering paying off the debt after discharge because I believe they are a good CU with good lending products and would hate to lose out on their products. has anyone ever paid off Navy fed after discharge and was approved for a card after? id like to see what my chances of approval are before I go and pay a discharged debt to them.


Once you pay them back in full, they will lend to you right away.   It is as if they never had an issue with you.   I did not burn Navy, but if I had, and the amount was like the $5K you owe, I would pay them back to get in with them.


i totally agree. I know i will end up paying them back I guess I just wanted some reassurance that they will lend to me again. I've read and heard that you have to wait about a year after paying them but your saying right away?

Message 3 of 7
CH-7-Rebuilding
Valued Contributor

Re: PAYING NAVY FEDERAL AFTER DISCHARGE


@sihmud wrote:

@CH-7-Rebuilding wrote:

@sihmud wrote:

I recently included navy federal credit card in a CPT 7 BK. balance was 5,300. I am considering paying off the debt after discharge because I believe they are a good CU with good lending products and would hate to lose out on their products. has anyone ever paid off Navy fed after discharge and was approved for a card after? id like to see what my chances of approval are before I go and pay a discharged debt to them.


Once you pay them back in full, they will lend to you right away.   It is as if they never had an issue with you.   I did not burn Navy, but if I had, and the amount was like the $5K you owe, I would pay them back to get in with them.


i totally agree. I know i will end up paying them back I guess I just wanted some reassurance that they will lend to me again. I've read and heard that you have to wait about a year after paying them but your saying right away?


I can't honestly recall the timeframe, but I remember reading many posts of people paying Navy back and having no trouble getting credit from them.   I mean you might have to start with the secured card, but once it graduates it can grow to $50K.    That's where my Navy Visa is at, $50K.   I also got the $15K CLOC the same day, though I've been reading that they have chopped those CLOC starting limits way back.   Because Navy gives out enormous credit limits, most people that IIB them are into them for like 30K, 40K, 50K or more, and there's just no way they can ever repay that unless they win the PowerBall.

Message 4 of 7
Anonymous514
Established Contributor

Re: PAYING NAVY FEDERAL AFTER DISCHARGE

I burned them for 13,000$. I don't think they mean so much to me that I would pay them back that ever. However once I graduate college and am making money to just throw at places I probably might Smiley Happy



Message 5 of 7
jmw1
Frequent Contributor

Re: PAYING NAVY FEDERAL AFTER DISCHARGE


@Anonymous514 wrote:

I burned them for 13,000$. I don't think they mean so much to me that I would pay them back that ever. However once I graduate college and am making money to just throw at places I probably might Smiley Happy


I would never pay them back that much money. You would never come close to recoup the "investment" vs using another bank/CU for your lending products. The most I would repay is $500 and even that is iffy. There are too many other potential creditors out there to choose from. 

 

If you are suddenly independently wealthy years later and feel a moral obligation to pay a giant credit union rather than provide extra for your family, then that's 100% fine. But don't delude yourself into thinking you will ever recoup repaying $1k or $5k or $13k vs another financial institution's lending product. Not a chance.

 

Message 6 of 7
Anonymous514
Established Contributor

Re: PAYING NAVY FEDERAL AFTER DISCHARGE

💁🏼‍♂️ 



Message 7 of 7
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