Consider NASA...questions

[Imperfectfuture]

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@peaceonearth wrote:

I have been reading lots of this NASA deal.

Some threads made me laugh some still make me kind of SAD to see someone, was super Excited and happy yesterday; and the happiness ends the next day or so,. for sure I am not blaming NASA CU at all for not approving such a mass of applications.

Every body was applying like there's no tomorrow!

NASA is a good Bank, they just use a unique system for their loan approvals which I really like; it all depends how you look at it..

If you have a:

Good Experian credit score

Good long payment history

Less than 10% utilisation of total CLs

Not too many inquiries

Enough income to support your overall credit lines

NASA CU will stamp as: approved.

We do support our Astronauts.

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Define good long payment history.

[rlx01]

Anyone have a NASA PLOC and know how it reports on CR (LOC or Installment?).

[lord_kinbote]

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@dodgerslv wrote:

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Having a 30k limit would be nice also but i am seriously adding to much new credit as of late and i value my other cards way too much to risk it on adding new credit that i dont need. 

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Wait.  Are you saying just because you have a CL of 30k on one card, the CL on your remaining cards may be impacted?  I am new here, so please execuse my lack of information.  I applied as well, but my app is pending.  I already have about 40k in credit and really did not need anymore, but I got caught up in the frenzy/hopes of having one card with a very high limit - my other highest is 9.5k.  Also, what is the typical credit line to income ratio?  My income is roughly 118k w/out bonus added and my current credit line is 43k.  With those figures am I way over extended in the eyes of lenders or at an OK spot?  

[Imperfectfuture]

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@b_diddy wrote:

When you talked to collection agency did you try to negotiate PFD (payment for deletion)?  If you are not going to let it age off and you decide to stir the collection hornet nest, it's usually best to first dispute and make them validate.  You can then attempt PFD.  As someone already mentioned, there are other options if you decide to pay ... better results with this down the road a few months after you've paid it.

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+1

As part of the GC, weeding (get rid of negative trade lines), is as important, if not more so, than growing credit portfolio.

As tempting as it would be for me to jump on this bandwagon and replace a sub prime card, I'm waiting for clean reports in experian, should be done by dec 2014.  The rewards of waiting far outweigh the disappointments of apping now with receiving denials or less than favorable terms (though I wish Barclays would have left their pre qual link up).

[JustinS]

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@Burned2manybridgesB4 wrote:

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@skigirl916 wrote:

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@Jlu wrote:

I would advise to upload the stipulations and wait for the APPROVED FUNDED with DocuSign email. Once you get that you are set in stone for the limit that is approved. If they adjust after you upload the stips then you can just cancel your app.

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I've seen some folks go from APPROVED FUNDED back to Pending and then Declined.

Nothing is "set in stone" with NASA.

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Probably met their quota, now are skimming files, as to get the "preferred clients" set, and toss out the borderlines.

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I wouldn't doubt it. Heck I've been SP'd by them now 4 times since I apped for membership. Membership is approved and they charged my CC for the initial funding on the savings already - however CC app is still pending right now. We shall see I guess hopefully some good comes of this soon since they did plenty of credit pulls on EX over it already now.

[Luscher]

How is everybody seeing what CL they are going to get before getting approved? I am in the app page and can't find anything about it

[rlx01]

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@akula wrote:

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@dodgerslv wrote:

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Having a 30k limit would be nice also but i am seriously adding to much new credit as of late and i value my other cards way too much to risk it on adding new credit that i dont need. 

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Wait.  Are you saying just because you have a CL of 30k on one card, the CL on your remaining cards may be impacted?  I am new here, so please execuse my lack of information.  I applied as well, but my app is pending.  I already have about 40k in credit and really did not need anymore, but I got caught up in the frenzy/opes of having one card with a very high limit - my other highest is 9.5k.  Also, what is the typical credit line to income ratio?  My income is roughly 118k w/out bonus added and my current credit line is 43k.  With those figures am I way over extended in the eyes of lenders or at an OK spot?  

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No. You're nowhere near overextended.

A 30k CL is a pry bar for high limit cards with all the other lenders.

[Imperfectfuture]

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@Jlu wrote:

Perhaps this is looking too much in to coincidences, but it's interesting to note that this generosity at NASAFCU has coincided with the landmark deal between NASA, Boeing & SpaceX. For the first time NASA has handed over the reigns from government to commercially-run spaceflight. These contracts were worth $6.8B - so perhaps NASA is now flush with cash and needs to put it to work.

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And myfico members + credit boards will be more than happy to help them.  

[b_diddy]

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@Imperfectfuture wrote:

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@Jlu wrote:

Perhaps this is looking too much in to coincidences, but it's interesting to note that this generosity at NASAFCU has coincided with the landmark deal between NASA, Boeing & SpaceX. For the first time NASA has handed over the reigns from government to commercially-run spaceflight. These contracts were worth $6.8B - so perhaps NASA is now flush with cash and needs to put it to work.

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And myfico members + credit boards will be more than happy to help them.  

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CU's are owned by members, not the organization they associate with ... funds don't mix. :-)

[Anonymous]

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@rlx01 wrote:

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@akula wrote:

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@dodgerslv wrote:

..

Having a 30k limit would be nice also but i am seriously adding to much new credit as of late and i value my other cards way too much to risk it on adding new credit that i dont need. 

---

Wait.  Are you saying just because you have a CL of 30k on one card, the CL on your remaining cards may be impacted?  I am new here, so please execuse my lack of information.  I applied as well, but my app is pending.  I already have about 40k in credit and really did not need anymore, but I got caught up in the frenzy/opes of having one card with a very high limit - my other highest is 9.5k.  Also, what is the typical credit line to income ratio?  My income is roughly 118k w/out bonus added and my current credit line is 43k.  With those figures am I way over extended in the eyes of lenders or at an OK spot?  

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No. You're nowhere near overextended.

A 30k CL is a pry bar for high limit cards with all the other lenders.

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I agree that they are nowhere near over-extended, certainly no concern until total CL is at least 1.5 income.

Disagree about the pry bar though!  Some lenders just keep to their own standards (and know that high Amex, NCFU and now NASA lines might not indicate great creditworthiness)