Don't Count Your Chickens With NFCU

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:
I don't want to pay the  $25  for the Navy Leauge unless I am sure I will get approved. I have about 720 on TU.... 35 INQs... 6% Util, 4 yrs AAoA.

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In my opinion I think you might get approved (of course I thought I would get approved initially).  The good thing is if they don't approve you initially they seem to listen to your side of it and have reversed their denial decisions many, many times.  Although I don't believe in begging for CC's I think Navy is worth a little extra effort.  You won't know unless you try.  Might be the best $25 you spend.  Good luck.

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My Comments:

While I didn't risk "losing" $25 to get a potential approval for a Navy credit card, I might have taken a risk, I am not sure.

* I received immediate Approval for a Navy Credit Card at 9.99% several months post Ch 13 Bk discharge.

Perhaps my "approval" (IMMEDIATE) was due to having  Paid in Full  my ch 13 creditors?

Perhaps it was the Honorable Discharge after two individual military enlistments separated by four years?

Perhaps it was my charming personality?

Guess I would instead phrase the "$25" comment as:

"Is my character as an individual worth $25   to participate in an organization created FOR the small population of military service members & their immediate family?"

Just Sayin'

* Oh, buy the way, I just got an immediate approval of an $8,000.00 increase "soft pull" after the recent AR.

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Nice! Well said!

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:
I don't want to pay the  $25  for the Navy Leauge unless I am sure I will get approved. I have about 720 on TU.... 35 INQs... 6% Util, 4 yrs AAoA.

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In my opinion I think you might get approved (of course I thought I would get approved initially).  The good thing is if they don't approve you initially they seem to listen to your side of it and have reversed their denial decisions many, many times.  Although I don't believe in begging for CC's I think Navy is worth a little extra effort.  You won't know unless you try.  Might be the best $25 you spend.  Good luck.

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My Comments:

While I didn't risk "losing" $25 to get a potential approval for a Navy credit card, I might have taken a risk, I am not sure.

* I received immediate Approval for a Navy Credit Card at 9.99% several months post Ch 13 Bk discharge.

Perhaps my "approval" (IMMEDIATE) was due to having  Paid in Full  my ch 13 creditors?

Perhaps it was the Honorable Discharge after two individual military enlistments separated by four years?

Perhaps it was my charming personality?

Guess I would instead phrase the "$25" comment as:

"Is my character as an individual worth $25   to participate in an organization created FOR the small population of military service members & their immediate family?"

Just Sayin'

* Oh, buy the way, I just got an immediate approval of an $8,000.00 increase "soft pull" after the recent AR.

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As one of those honorably discharged small population of military service members I think your character is mighty fine.  Looks like NFCU thinks so too.  Nice soft pull CLI.

Semper Fi

[Anonymous]

True I just want to have a good idea.... I.e. I have a good idea I would be approved for a wal mart store Card and I have a good idea I would be declined for Chase a freedom from the 5/24 rule

[Anonymous]

When you use quotes it usually means someone said that.. and I never said "losing" in regards to donating the $25 to the SD Navy League.  I just said I didn't want to.  You inferred I thought donating to the armed forces was a waste.   I personally donate Wounded Warrior and to the VA Hospital in Madison WI as my Dad and Grandfather are both vets and both from here. Just because I would not want to donate to a California Chapter of the Navy and instead use my money to donate to other charities I feel more strongly about and one that is local, does not mean I have any issues with my character.

[Anonymous]

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@Anonymous wrote:
True I just want to have a good idea.... I.e. I have a good idea I would be approved for a wal mart store Card and I have a good idea I would be declined for Chase a freedom from the 5/24 rule

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I understand where you are coming from.  I try to do as much research here on this forum and across the net to try and determine how I might fair if I put in an app.   Obviously nothing is set in stone and everybody is different but I do think you can get a general idea of where you might be based on what you see and your current circumstances.  There are many cards I won't even consider applying for because I see what others have to say and I don't fit the profile for an approval.  Others I think I might have a shot and I go for it.  A couple times it didn't work out but many times it did.  I never app without research.  When I apply I want to at least think I'll be approved as hard pulls linger longer than I want them to and it especially feels bad if no approval is obtained with the hard pull.

[Anonymous]

After reading your posts and other reply to it, given the info shared, I wonder if NFCU looks at DTI more heavily than anything - as if applying for a card with them is treated like a mortgage

I recently was approved for one of their cards for 24K. My income is less than half of yours...BUT... I don't have any debt. No car loans - only two CCs - both with <1% util. My fico scores suck compared to your scores, so I guess for me it was a good thing they ignore other CBs scores in my case. So if you remove scores from the equation and only look at income to debt ratio, that may be the difference. The question is, what is their threshold for DTI. You seemed to have scored well on their proprietary scoring system, so what was left that made them say no except the debt.

But then again, what the heck do I know. It took me a whole month just to get my membership approved by them. LOL!

[Anonymous]

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@Anonymous wrote:
After reading your posts and other reply to it, given the info shared, I wonder if NFCU looks at DTI more heavily than anything - as if applying for a card with them is treated like a mortgage

I recently was approved for one of their cards for 24K. My income is less than half of yours...BUT... I don't have any debt. No car loans - only two CCs - both with <1% util. My fico scores suck compared to your scores, so I guess for me it was a good thing they ignore other CBs scores in my case. So if you remove scores from the equation and only look at income to debt ratio, that may be the difference. The question is, what is their threshold for DTI. You seemed to have scored well on their proprietary scoring system, so what was left that made them say no except the debt.

But then again, what the heck do I know. It took me a whole month just to get my membership approved by them. LOL!

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I agree with you.  I think that my two car loans are scary when lenders are looking at $100,000 in installment loans and it's not a mortgage.  I do have the income to support the vehicle debt since I have no mortages, no credit card debt .  Basically all I have is day to day expenses and upkeep such as utilities, food etc.  Applicants who might have lower income, lower scores and low UTI probably fair better with NFCU and other lenders.  Sometimes I think income takes a back seat with NFCU when compared to other things.

Glad you got in with them and I am happy that they allow others to join thru their affiliates.  NFCU is a win-win for a lot of people.

[Anonymous]

Today I got a FICO alert my TU went to 741.
Just applied for the SD Chapter and will start the NFCU process.
I took the alert as a sign.

[Anonymous]

Creditors are required by law to report the reason credit was denied and to list 4 or 5 of the factors most affecting your credit score, even if none of those factors would cause denial. In other words, this does not mean that your score or the factors listed were the reason for denial.