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Frustrated with Navy Federal...

AKGolfer62
New Contributor

Re: Frustrated with Navy Federal...

Sharing my experience with some DP's,

 

Applied for a secured Nrewards NFCU card @ $500 on 7/20/20 with a 554 FICO score.

Did and APP for an Amex MoreRewards on 11/20/20 and got a SL of $23600.  On 1/10/21

my secured card was automatically upgraded to a Cashrewards card to $2000 with a FICO

of 674.  Asked for a CLI but they said the graduation is considered your first CLI within that

specific card.  Yesterday before my NFCU Amex 91/3 closed, I placed an APP for the Platinum

card and got a SL of $3000.  This morning, after my NFCU Amex 3rd statement closed, I asked

for a CLI to $25,000 and was approved.  Just giving some insight into the process in case 

anyone has questions.  All accounts paid in full accept for reporting $1-$6 dollars on the NFCU

AMEX before statement close.

 

In closing, any card that has graduated, you will need to consider this as your official CLI until

you hit your next 91/3 period.  Then I would ask via their webiste or mobile.  Just me 2 cents.




Starting FICO 8 Scores 1-21-2020 (Rebuilding | No BK)

Current Scores 2-26-2021

Age of Accounts

FICO 8 GOAL BY 12/2021



Message 11 of 15
Heatt99
Regular Contributor

Re: Frustrated with Navy Federal...

IMO, the 91/3 method would have reap a better outcome. Both accounts are one the same measuring stick. 

 

Again you stated you just came out of IIB, so Navy is still building a 2 year history. One can make 100 payments in 30 days, and that still doesn't say they can truly pay over an extended period over time.

 

Try to combine accounts to create one unsecured account, then apply for a new unsecured account.

 

Fix what Navy stated in their denial letter.

 

Time is of the essence; Navy will warm up to your profile, and when they do, the flood gates are open.

Message 12 of 15
AZnotorious
New Contributor

Re: Frustrated with Navy Federal...

Don't worry, be happy. NFCU will grow with you in time. It's not your income or multiple payments but simply time that needs to pass. Navy caps out I believe at 80K. Give it time.

Message 13 of 15
M_Smart007
Epic Contributor

Re: Frustrated with Navy Federal...


@AZnotorious wrote:

Don't worry, be happy. NFCU will grow with you in time. It's not your income or multiple payments but simply time that needs to pass. Navy caps out I believe at 80K. Give it time.


100% correct on the 80K cap .. I am $500 shy of that since joining in May 2019.

 

OP, I would say wait 1 year due to the;

"I do have a discharged ch 7 from May of 2020 and I am sure that is certainly contributing to their reasoning,"

Message 14 of 15
Ficodisciple
New Member

Re: Frustrated with Navy Federal...

Very nice DPts in this thread...appreciate you guys...I'm a long time lurker of this site...

Message 15 of 15
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