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NFCU Business Approval

Super Contributor

Re: NFCU Business Approval


@shoegalwrote:

Congrats on all the approvals! I’m going for the visa and business LOC tomorrow.


Good luck Smiley Happy


FICO8 EQ 769 TU 796 EX 764 Total revolving limits 569900 (484900 reporting)






Message 11 of 19
Regular Contributor

Re: NFCU Business Approval


@shoegalwrote:

Congrats on all the approvals! I’m going for the visa and business LOC tomorrow.


Update @shoegal when you find out.  Good luck!!


Chase Business Ink 20k PenFed Plat Rewards VS 10k NFCU Go Rewards10700 BECU 10k Chase FU 6k NFCU Flag 5k Disco IT 5k Amex BCE 1k Gold Delta Skymiles Biz 5k Amex Biz Gold Rewards NPSL
Message 12 of 19
Established Contributor

Re: NFCU Business Approval

Thanks @Toughfist and @SouthJamaica! I applied today will see what happens. ☺️


Message 13 of 19
New Member

Re: NFCU Business Approval

Hi.

 

New member!

Going to start Gardening as soon as you all say go!

Current Personal Scores:

Experian 710

Trans Union 740

Equifax 710

 

My three personal credit scores are moving up.  Predict 770-790 range within 3 months.

 

I have 2 businesses, neither of which have much in the way of established credit.

Business #1 is 6 years old with clean credit.  However, as a result of a dispute I had with a finance company 5 years ago, there is a UCC-1 attached to it.  

 

Business # 2 is new.

 

 

My questions:

Which business should I utilize for this journey?

and

How should I space the CC applications so as to not overload personal and business inquiries?

 

Thanks and looking forward to getting started!

 

 

 

Message 14 of 19
Regular Contributor

Re: NFCU Business Approval

I was recently denied for the business cc and bcloc. I have not recieved the letter yet. Can business lines be reconsidered? If it cannot be reconsidered how long should I wait to reapply. My TU is around 640, util around 70% and should be arount 50% at the end of this month. My company is brand new. What will it take to get an approval?
Message 15 of 19
Super Contributor

Re: NFCU Business Approval


@tbea1004 wrote:
I was recently denied for the business cc and bcloc. I have not recieved the letter yet. Can business lines be reconsidered? If it cannot be reconsidered how long should I wait to reapply. My TU is around 640, util around 70% and should be arount 50% at the end of this month. My company is brand new. What will it take to get an approval?

I don't know but it seems like you should wait for the letter and see what reason(s) they gave.

 

It couldn't hurt for you to start building business credit. The easiest way to do that is get small "Net 30" accounts from some suppliers or other vendors.

 

 

 

 


FICO8 EQ 769 TU 796 EX 764 Total revolving limits 569900 (484900 reporting)






Message 16 of 19
Regular Contributor

Re: NFCU Business Approval

I have started ordering from a few companies getting net 30 accounts. I know it will take some time for them to report. Hopefully by the end of the year my business and personal credit will be strong enough for an approval.
Message 17 of 19
Valued Member

Re: NFCU Business Approval


@tbea1004 wrote:
I have started ordering from a few companies getting net 30 accounts. I know it will take some time for them to report. Hopefully by the end of the year my business and personal credit will be strong enough for an approval.
@tbea... have checked your business credit and how is your personal credit? I was recently approved for business credit with NFCU and knowing where you stand with these two play a big factor in your approval.
Personal

Business


Scores:10/01/17 FICO 8 EQ 629 TU 626 EX 634
Scores:05/01/18 FICO 8 EQ 678 TU 678 EX 695

1st Goal Scores: EQ 700 TU 710 EX 725
2nd Goal Scores: 760+ ATB FICO 8



Message 18 of 19
Super Contributor

Re: NFCU Business Approval


@tbea1004 wrote:
I have started ordering from a few companies getting net 30 accounts. I know it will take some time for them to report. Hopefully by the end of the year my business and personal credit will be strong enough for an approval.

You're on the right track Smiley Happy


FICO8 EQ 769 TU 796 EX 764 Total revolving limits 569900 (484900 reporting)






Message 19 of 19