NFCU GBR Visa Is In The House??? 🙏

[LP007]

Day 4 UW. Is this the CU who drags their feetses for weeks on end underwriting business lending?

Callers, what say you? 🤙

Nfcu Biz App UW.png

[SouthJamaica]

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@LP007 wrote:

Day 4 UW. Is this the CU who drags their feetses for weeks on end underwriting business lending?

Callers, what say you? 🤙

Nfcu Biz App UW.png

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NFCU's business department is for the birds. 

Good luck with your application.

[pizzadude]

Do you have an existing biz banking relationship with NFCU ?   Not sure if that will help to speed things up.   They're known to be glacially slow with biz credit approvals. 

[LP007]

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@pizzadude wrote:

Do you have an existing biz banking relationship with NFCU ?   Not sure if that will help to speed things up.   They're known to be glacially slow with biz credit approvals. 

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Yes. Biz & Pers.

[LP007]

I hear this card sucks because it doesn't report to any biz CRAs. No subs...nothing. I picked it up just to have before my other new credit starts showing up on my PG side. 

                                     LLC,
 
Congratulations! You have been approved for a GO BIZ Rewards Credit Card with a credit limit of $15,000 and 9.15% Variable APR.
 
You will receive the card and additional disclosures within the next 7 to 10 business days. In the meantime, we might reach out if additional documents are needed to close the file. Otherwise, feel free to reach out to us anytime at 877-418-1462 as we grow the relationship with Navy Federal and your organization.

[FinStar]

@LP007 - two threads have been merged on basically the same topic (NFCU biz CC). Please refrain from cross-posting and/or creating multiple threads on basically the same topic as it is against the myFICO Forums TOS and it can lead to confusion by the community. Thanks.

[pizzadude]

@LP007  How long was the underwriting process before you were approved, like 10-15 days?   Did they ask you for any additional biz or tax documentation ? 

[LP007]

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@pizzadude wrote:

@LP007  How long was the underwriting process before you were approved, like 10-15 days?   Did they ask you for any additional biz or tax documentation ? 

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Applied through the business account Marketplace portal. No PDF fill-in application. 3/18-3/24. 6 days.

No Docs asked for.

I have Biz & Pers checking + new Pers CC earlier this month.

[AceTen]

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@LP007 wrote:

I hear this card sucks because it doesn't report to any biz CRAs. No subs...nothing. I picked it up just to have before my other new credit starts showing up on my PG side. 

                                     LLC,
 
Congratulations! You have been approved for a GO BIZ Rewards Credit Card with a credit limit of $15,000 and 9.15% Variable APR.
 
You will receive the card and additional disclosures within the next 7 to 10 business days. In the meantime, we might reach out if additional documents are needed to close the file. Otherwise, feel free to reach out to us anytime at 877-418-1462 as we grow the relationship with Navy Federal and your organization.

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Congrats and thanks for the data points!

I like dealing with NFCU so I would be happy to have their business card, personally.

I suppose a hidden/ non reporting tradeline could be good for some people in some circumstances. 

[FinStar]

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@LP007 wrote:

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@pizzadude wrote:

@LP007  How long was the underwriting process before you were approved, like 10-15 days?   Did they ask you for any additional biz or tax documentation ? 

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Applied through the business account Marketplace portal. No PDF fill-in application. 3/18-3/24. 6 days.

No Docs asked for.

I have Biz & Pers checking + new Pers CC earlier this month.

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Wow. That's like the smoothest and quickest NFCU Business CC approval I've seen...ever 😃

Given the previous and known DPs, most folks typically shied away from even pursuing it. 

@LP007- Have you had the business account with NFCU for a very long period? Do you run substantial business transactions or amounts through it? Is your business set up as LLC, S-Corp, Sole Prop, etc.?  I suppose the only drawback would be the business reporting (or lack thereof), but still a very decent tradeline.

Did they pull any biz CRAs?