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FNBO or NFCU?

LawStudentCivilis
Established Contributor

FNBO or NFCU?

Ultimately, I would rather sit tight and not apply for any credit.  I don't like new accounts, and I don't like juggling so many cards, etc.

 

However, I received a pre-approved mailer from FNBO.  It's for their Visa Rewards card.  It has actually peaked my interest as it has a 0% balance transfer option, and this is the only card I would be interested in at the moment.

 

Since I found myself entertaining the possibility of applying for a new card I began to wonder about Navy.  I have gone through a lot of the past posts here on the forum and I can't get a sense of what type of profiles they like.  I don't know if I would be wasting my time if I pursued them.

 

I joined them about 7 months ago.  I joined to establish a relationship, and possibly explore other products down the line.  My primary concern with Navy is if I apply with them, I would hate to end up with a 2k or 3k SL.  I would rather have an outright denial than have a new account added that I can't really use for my purposes. (I would like to take advantage of their BT with 0% fee).

 

I checked the pre-qual site of FNBO and it says I am pre-approved for $15k SL.  I am fully aware anytime I apply for any credit, regardless of pre-approvals I can be denied. 

 

I guess the point of me writing this is to feel out whether I should go with FNBO since they seem to have given me an idea/tangible options of how they view my profile, or should I roll the dice with Navy? I would rather not pay a bt fee if possible.  I am also not interested in nursing a small limit and asking for CLI down the line. I am past that. I did this with PenFed for 6 months and I was denied. 

 

I have no derogatory info on my report.  TU is my lowest score though at 716 (this is TU8), I do not have a current TU9 score.  I believe this score is suffering due to mult cards holding a balance.  I have paid down a significant amount over the last 5 to 6 months, it would have gone down so much further if they were on a 0% card.

 

I am looking for advice about the general opinion on here of what Navy seems to gravitate towards, not necessarily a definitive yay or nay on my profile.  

Message 1 of 12
11 REPLIES 11
coldfusion
Community Leader
Super Contributor

Re: FNBO or NFCU?

You sound like you're anxious to get the ball rolling, so you'll want to factor in that Navy sometimes starts off with a small SL with the first card and if it is treated well they will approve a 2nd card several months later with a much larger SL.  As a side note their online prequal is pretty widely considered to be unreliable.

 

Based on the data points reported in the thread https://ficoforums.myfico.com/t5/Credit-Card-Applications/FNBO-Rewards-Pre-Qual-App-Data-Points-UPDA... you would arguably be rolling the dice with FNBO even with a preapproval.

 

If you have a number of cards in which you're carrying a balance that will impact odds of approval with either issuer, and if approved it can impact both the SL and the APR assignment.



(9/2021)
FICO 8 (EX) 804 (TU) 832 (EQ) 827
FICO 9 (EX) 827 (TU) 826 (EQ) 832

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 2 of 12
LawStudentCivilis
Established Contributor

Re: FNBO or NFCU?

Thanks for the link, this will be helpful.  @coldfusion yes and no about being anxious.  I try to give everything the appropriate consideration before acting.  The balances will be gone, some cards have been paid off.  I suppose the issue is it can be done much more quickly with 0% interest.

 

 

Message 3 of 12
SouthJamaica
Super Contributor

Re: FNBO or NFCU?


@LawStudentCivilis wrote:

Ultimately, I would rather sit tight and not apply for any credit.  I don't like new accounts, and I don't like juggling so many cards, etc.

 

However, I received a pre-approved mailer from FNBO.  It's for their Visa Rewards card.  It has actually peaked my interest as it has a 0% balance transfer option, and this is the only card I would be interested in at the moment.

 

Since I found myself entertaining the possibility of applying for a new card I began to wonder about Navy.  I have gone through a lot of the past posts here on the forum and I can't get a sense of what type of profiles they like.  I don't know if I would be wasting my time if I pursued them.

 

I joined them about 7 months ago.  I joined to establish a relationship, and possibly explore other products down the line.  My primary concern with Navy is if I apply with them, I would hate to end up with a 2k or 3k SL.  I would rather have an outright denial than have a new account added that I can't really use for my purposes. (I would like to take advantage of their BT with 0% fee).

 

I checked the pre-qual site of FNBO and it says I am pre-approved for $15k SL.  I am fully aware anytime I apply for any credit, regardless of pre-approvals I can be denied. 

 

I guess the point of me writing this is to feel out whether I should go with FNBO since they seem to have given me an idea/tangible options of how they view my profile, or should I roll the dice with Navy? I would rather not pay a bt fee if possible.  I am also not interested in nursing a small limit and asking for CLI down the line. I am past that. I did this with PenFed for 6 months and I was denied. 

 

I have no derogatory info on my report.  TU is my lowest score though at 716 (this is TU8), I do not have a current TU9 score.  I believe this score is suffering due to mult cards holding a balance.  I have paid down a significant amount over the last 5 to 6 months, it would have gone down so much further if they were on a 0% card.

 

I am looking for advice about the general opinion on here of what Navy seems to gravitate towards, not necessarily a definitive yay or nay on my profile.  


1. I don't think you should apply for anything at all.

 

2. If you are going to apply for something, hands down I'd pick NFCU over FNBO any day of the week.

 

3. Don't worry about NFCU SL's. (a) They're on the generous side. (b) They're easily increased.


Total revolving limits 677500 (584500 reporting) FICO 8: EQ 758 TU 777 EX 749

Message 4 of 12
LawStudentCivilis
Established Contributor

Re: FNBO or NFCU?

@SouthJamaicaThanks for your input.  If Affinity had a BT card, I would totally go with them.  They really seem to like my profile, but it is probably because they use Experian. I have not applied for anything, I was wondering what my perceived chances would be with Navy. Despite the balances, my DTI ratio is still considered low.

Message 5 of 12
SouthJamaica
Super Contributor

Re: FNBO or NFCU?


@LawStudentCivilis wrote:

@SouthJamaicaThanks for your input.  If Affinity had a BT card, I would totally go with them.  They really seem to like my profile, but it is probably because they use Experian. I have not applied for anything, I was wondering what my perceived chances would be with Navy. Despite the balances, my DTI ratio is still considered low.


True that they don't have a good balance transfer card (compared to many other credit unions).  But they do have a very good PLOC which accomplishes the same purpose as a no-fee balance transfer card and has a fair interest rate.


Total revolving limits 677500 (584500 reporting) FICO 8: EQ 758 TU 777 EX 749

Message 6 of 12
ldkcivilservant
Frequent Contributor

Re: FNBO or NFCU?

If I had to chose between FNBO or an NFCU Platinum, there is no choice. Plat all the way. 

 

It is, by far, the most useful card on the market IMO.

NFCU Platinum $50k | Amex Delta Platinum $25k | Elan Financial $17.5k | Chase Freedom Unlimited $16k | Discover IT $13.9K | NFCU cashRewards $7.5k | GS AppleCard $5k
Message 7 of 12
SouthJamaica
Super Contributor

Re: FNBO or NFCU?


@ldkcivilservant wrote:

If I had to chose between FNBO or an NFCU Platinum, there is no choice. Plat all the way. 

 

It is, by far, the most useful card on the market IMO.


I agree. 

 

 


Total revolving limits 677500 (584500 reporting) FICO 8: EQ 758 TU 777 EX 749

Message 8 of 12
K-in-Boston
Moderator

Re: FNBO or NFCU?

Since you have a clean record with what sounds like high utilization, I would definitely suggest NFCU.  Without knowing much else about your profile, odds are that you are far more likely to get a $20k+ approval from Navy than for that FNBO preapproval to pan out with that limit.  


How old is your profile?  Where is your aggregate revolving utilization sitting?  Any cards with extremely high utilization (like 70%+? 90%?).  Not always the case, but in my experience FICO 9s seem to be more sensitive to utilization than FICO 8s on a clean scorecard, yet much more forgiving for dirty scorecards.  (I'm squeaky clean with a couple of very high balances.  My EQ8 is 806, while my EQ9 showing on Navy is only 771, for example.)  My scores were a bit lower back then, but my first approval was for $24k.  I definitely had pretty high utilization when I got my Flagship 4 years ago, but also had a couple of decades of credit history and income working in my favor.  Definitely results will vary, but they can be quite generous.

Message 9 of 12
LawStudentCivilis
Established Contributor

Re: FNBO or NFCU?

@K-in-Boston 

 

I think my TU score is dinged the hardest because of the amount of cards holding a balance. I think another score boost that I benefit from on EQ and EX is my second oldest cc.  It doesn't report to TU so I lose a few points there.  The average age of accounts is just over 8 years.  My two highest utilizations are 60% and 63%.  As stated TU is my lowest score, and EQ is my higest at 743 (EQ 8).

Message 10 of 12
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