Good News! My way in to NFCU!😉 **UPDATE**

[Brooklyn2018]

@AllZero

Yes have a car loan thru Ally.

I was thinking of the CLOC not sure if that would even be something I could get approved for? I see quite a few obtaining this TL with ridiculously low scores(I know scores aren’t everything) but, high income, low DTI, few derogs and BAAM they’re approved.
My income is $100k+(oil field), DTI is relatively low 16-26%(at any given month depending on how many jobs I complete) I’m not counting the collection I have from Commonwealth because it’ll be deleted by December. So that’ll leave just 1 paid CO and 2 unpaid CO repos. All 3 on file for 2.5 more years.
But, I also have too many recent INQ’s in the last 12 mos...each CR(as you know) will start hitting the 1 yr mark(Jan/Apr/May and 2 will be dropping in May...so, I’m in the garden almost positively till then. They’ll need some age and plus give my scores a chance to grow some. I’m hoping for a good 20-30 point increase by then

...we’ll see?

I❤️NY

[AllZero]

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@Brooklyn2018 wrote:
@AllZero

Yes have a car loan thru Ally.

I was thinking of the CLOC not sure if that would even be something I could get approved for? I see quite a few obtaining this TL with ridiculously low scores(I know scores aren’t everything) but, high income, low DTI, few derogs and BAAM they’re approved.
My income is $100k+(oil field), DTI is relatively low 16-26%(at any given month depending on how many jobs I complete) I’m not counting the collection I have from Commonwealth because it’ll be deleted by December. So that’ll leave just 1 paid CO and 2 unpaid CO repos. All 3 on file for 2.5 more years.
But, I also have too many recent INQ’s in the last 12 mos...each CR(as you know) will start hitting the 1 yr mark(Jan/Apr/May and 2 will be dropping in May...so, I’m in the garden almost positively till then. They’ll need some age and plus give my scores a chance to grow some. I’m hoping for a good 20-30 point increase by then

...we’ll see?

I❤️NY

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You're good on the loan front, then. No need for SSL.

CLOC can be useful. However, the APR is not the best. If you shop around, you can find other credit unions with lower rates.

True, scores aren't everything with Navy. If you've been following along in the approvals forum, you'll see they are all over the place. You have good income and DTI. In general, credit unions like that.

You have a good plan. Once you become a member, let your membership marinade while you credit profile improves. Navy offers 1 day early direct deposit if that's something you are interested in.

[Brooklyn2018]

@AllZero

That is exceptional advice. Thank you👍

Car loan is $14k(April) now $12k(Oct)...I believe I’m going to start throwing a 1k(monthly) to get it down as close as I can to 8.9% before I app for anything, too.

I definitely will look into other options as far as the CLOC.
note: I’ve read a good few using the CLOC as a “sort of” padding(?) as an extra TL just sitting there...but, as you stated, “the APR is not the best.” - thumbs up 👍 for that tip.

Yes! Definitely letting things age until May/Juneish? My last app(CareCredit) was 10/04/19 so need a good 6-7 mos before I app for NFCU. It’s going to be interesting, for sure!😉 I’m determined to make these NFCU HP’s count!
I’ll probably go Cash Rewards VISA First....then 91/3 the More Rewards AMEX. As suggested!😉

Thanks again for the awesome advice!👍👍👍

All the Best to ya!🤞

I❤️NY

[Brooklyn2018]

Good News! My way in to NFCU!😉 **UPDATE**
**UPDATE**

I am now officially a NFCU Member!!! 👍

[AllZero]

Congratulations on your membership!!!

[Brooklyn2018]

Thanks @AllZero👍


I❤️NY

[M_Smart007]

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@Brooklyn2018 wrote:
Good News! My way in to NFCU!😉 **UPDATE**
**UPDATE**

I am now officially a NFCU Member!!! 👍

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@Brooklyn2018  ..Congratulations!!!

[FinStar]

As the OP has indicated they've been approved, this thread is now locked and closed to new messages.

The new thread can be found here:
https://ficoforums.myfico.com/t5/Credit-Card-Approvals/NFCU-Cash-Rewards-PreQual-APPROVAL/td-p/57799...