FICO lending question

[Anonymous]

Hello, I am with NFCU and am starting to establish my credit better with them but I was curious about their credit scoring and lending models

I see they tend to use the TU FICO9 scoring for lending. Do they care about what your score and situation is when you apply or do they look at say the last 12 months? The main point of this question is everything about my credit has been good except high used limits. I've paid off 90 percent of my cards. So my question is are they going to focus on my current score showing 10 percent usage or will they look and say ah well it was 90 percent the last 11 months but 1 month of 10 percent usage.

I guess I'm just trying to understand how they read the fico score as everything on my score is good except my high used limits and when that shows the 10 percent usage will they just use that or take a better look at historical usage? 

Thanks!!

[SFLSpotter9210]

Like with most lenders they look at your overall profile while NFCU has been known to be a lenient lender. What are you looking to do? Maybe post what your profile is and that way we all can help out. My stats are current so you can take a look at them. And there is also a ton of data here if you just search the criteria you need. Good luck with your NFCU journey their the best in my humble opinion. 👍

[Anonymous]

My scores around about 610 average on creditkarma and fico is 630 right now  this is without my payoff showing yet. I have no late payments and 1 inquiry on all bureaus. The only negative I have is bankruptcy from 2015. I anticipate over the next 3 months my score should hit 700 or higher. I burned NFCU in bankruptcy but paid back what was due and they just gave me a 500 limit. I was looking at it from a long term stand point maybe when they move me unsecure what my plan will be for next card.

Any suggestions on what my plan should be? 

I was thinking after they move me unsecure eventually, how long should I wait to apply for a second card? 

I want to get on the gravy train and have most of my lending with NFCU as my other cards are beginners and extremely high interest rates all over 25 k. The goal is to move away from using those except for their perks like I have a carnival cruise card for traveling (if carnival is still around after covid haha) as well as amazon and target. 

[Anonymous]

Did they give you the nrewards secured?

[SFLSpotter9210]

Well from what I've read on here that NFCU is forgiving but, a BK their cautious moving forward. I would take it slow and prove to them that you've learned from your past relationship.

You kinda did the double whammy with them a BK that you included NFCU in as well although you did pay them you have to understand they will be cautious.

Again from what I've read on here you'll have to wait until they graduate you from unsecure to their secure card.

Then proceed from there just treat them right and in the long run they will treat you right again.

Hopefully others who have included them in a BK can chime in and offer suggestions. 

[Anonymous]

Yes I thought it was unsecured but the said I could only get secured. So that's why I am not doing anything until it graduates.

I also plan on using it as If it's my debit card and just keep paying it every week or every other week. Is this a good or bad idea? 

[M_Smart007]

@Anonymous   Build up some history .. Navy also uses their own internal score, so use and making regular payments is good.

One thing they really look at is "DTI" (debt to income)

IMHO, I would build up at least 6 months of history, with the DP's you provided.

ETA: I would just make one payment on the due date, if it were me.

[M_Smart007]

You also might glean some info here;

https://ficoforums.myfico.com/t5/Credit-Card-Applications/Navy-Federal-Thread-for-CLI-and-Additional...