HELP PLEASE!! Application

[Swmjason]

Currently 16 of 28 scores above 700;  how to proceed.  My largest CC NFCU 3.7k.  4 others small  SLs. CUR <2% w/ AZEO modeling.

Auto loan almost 7mths (NFCU), 13 Student loans (paid as agreed), 1 Old Dept of Ed still showing neg., 3 C/Os will be Automatically deleted in December 2023.

AAoa (6.29) AAoYa 7mths, INQ 24mth TU/Exp/Efx: 3/1/0

Which CUs / Bank cards shall I seek approvals to get at least if not more than NFCU?

[M_Smart007]

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@Swmjason wrote:

Currently 16 of 28 scores above 700;  how to proceed.  My largest CC NFCU 3.7k.  4 others small  SLs. CUR <2% w/ AZEO modeling.

Auto loan almost 7mths (NFCU), 13 Student loans (paid as agreed), 1 Old Dept of Ed still showing neg., 3 C/Os will be Automatically deleted in December 2023.

AAoa (6.29) AAoYa 7mths, INQ 24mth TU/Exp/Efx: 3/1/0

Which CUs / Bank cards shall I seek approvals to get at least if not more than NFCU?

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Hi @Swmjason ,

Have you thought about applying for a second NFCU Card? .. just as long as it has been 3 statements and 91 days since your first approval?

Sometimes NFCU can be very generous with a second card. Especially if you have good history with them.

Also looking at 0 Inqs on your Equifax, have you thought of PenFed Credit Union?

Maybe the Power Cash Rewards Card?

You could possibly apply for both in the same day

Sorry, I am very tired, and not much else comes to mind.

Others will chime in and may have some very valuable advice, I would take it in ....then make your decision.

Good Luck!

[Swmjason]

At 3 stmnts and 91 days I rfqd for cli and declined.  They said I need to continue dd in acct.

I opened a penfed with my bureaus frozen, so I didn't receive any offers.

I'm just getting started and unsure of how to do this.  My background was real estate investment and mortgage financing; I didn't even consider other credit types for reaching my goals until I found this forum.

[M_Smart007]

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@Swmjason wrote:

At 3 stmnts and 91 days I rfqd for cli and declined.  They said I need to continue dd in acct.

I opened a penfed with my bureaus frozen, so I didn't receive any offers.

I'm just getting started and unsure of how to do this.  My background was real estate investment and mortgage financing; I didn't even consider other credit types for reaching my goals until I found this forum.

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@Swmjason, With NFCU, I have seen a person declined for a CLI on a 1st CC,

but approved for a 2nd. your odds are probably 50/50. Could be worth a TU HP to find out?

I personally would roll the dice, as a HP is not the end of the world, as others would think that it is.

With PenFed,  You would have to unfreeze your Equifax report,

as that is the bureau that they solely pull ..and apply.

You could also unlock your reports and try the Discover card pre-qualify page,

https://www.discovercard.com/application/preapproval/initial

if the Discover it card is something you could utilize?

The prequalify for Discover is a SP and pretty accurate, HP if you proceed.

The "it" card has cash back match for the first year. (I have two of them)

ETA: Future CLI's for Discover would be "SP"

[SUPERSQUID]

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@Swmjason wrote:

Currently 16 of 28 scores above 700;  how to proceed.  My largest CC NFCU 3.7k.  4 others small  SLs. CUR <2% w/ AZEO modeling.

Auto loan almost 7mths (NFCU), 13 Student loans (paid as agreed), 1 Old Dept of Ed still showing neg., 3 C/Os will be Automatically deleted in December 2023.

AAoa (6.29) AAoYa 7mths, INQ 24mth TU/Exp/Efx: 3/1/0

Which CUs / Bank cards shall I seek approvals to get at least if not more than NFCU?

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I was able to grow my 2 cards quickly in spite of the bk7 on my reports and low income under 40k.

My landlord accepts credit card payments for lot rent so every month i cycle over 1k through my cr card and then in the same month pay that off.

I have a small dd with them 250 a month and i pay my platinum card from that, i usually have a smaal balance on the plat.

With my dd I get over 17 pct cb on my cr, i lose 9 bucks a month because the landlords cc payment fee is above my cb rate but the 250 sub i got when i opened the cr pays for that  the first 2 years.

so far,

my cr was a 3700 sl in dec//2021, now its 15700

my platinum was a 1000 sl  in april/2022, now its 9000

I keep my utilization low and my payments high and keep that 250 dd going, so far thats really working.

EDIT - PS - I agree with Msmart about penfed, they seem to be forgiving regarding past credit issues, bk7 anyway, ymmv.

In the case of both nfcu and penfed i originally opened small accounts at both, 15 bucks and let them sit for 7 months before i applied for a cc. Penfed gave me the power cash rewards with a 7.5k sl, after 1 year i got a cli to 10k, then when my pcr was 8 months old i applied for the penfed gold and was approved for 7.5k sl.

Do you know what your nfcu internal score is? i read that they use their internal score as a factor and dti also, ymmv, good luck.

[Meanmchine]

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@Swmjason wrote:

Currently 16 of 28 scores above 700;  how to proceed.  My largest CC NFCU 3.7k.  4 others small  SLs. CUR <2% w/ AZEO modeling.

Auto loan almost 7mths (NFCU), 13 Student loans (paid as agreed), 1 Old Dept of Ed still showing neg., 3 C/Os will be Automatically deleted in December 2023.

AAoa (6.29) AAoYa 7mths, INQ 24mth TU/Exp/Efx: 3/1/0

Which CUs / Bank cards shall I seek approvals to get at least if not more than NFCU?

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In June, call up Transunion and ask if these accounts can be removed early.  If the CSR cant do it, ask to speak to a supervisor.  TU will remove negatives 6 months early.  Experian will remove them 3-4 months early.  Equifax, youre out of luck; only 1 month early if youre lucky

[Traveler101]

Where do you sit income wise? Another cu you could consider is First Tech. Great for those who are rebuilding and higher wages can get you a long ways there. Something for you to possibly consider. Great benefits on their cards as well. Ex puller. While they do not have a pre-qualified app for cc, they do have one for personal loans. Not saying app for a personal loan but it may give you a little insight as how they perceive you. Best of luck to you.

[Anonymalous]

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@Swmjason wrote:

Currently 16 of 28 scores above 700;  how to proceed.  My largest CC NFCU 3.7k.  4 others small  SLs. CUR <2% w/ AZEO modeling.

Auto loan almost 7mths (NFCU), 13 Student loans (paid as agreed), 1 Old Dept of Ed still showing neg., 3 C/Os will be Automatically deleted in December 2023.

AAoa (6.29) AAoYa 7mths, INQ 24mth TU/Exp/Efx: 3/1/0

Which CUs / Bank cards shall I seek approvals to get at least if not more than NFCU?

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Why not wait? If the early removal mentioned by @Meanmchine doesn't work, the COs will still be gone in December. You seem more interested in CLs and building your credit in general than in rewards, and you don't need more cards for that. You just need time, and fewer negatives.

[Swmjason]

NFCU score: 294

[SUPERSQUID]

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@Swmjason wrote:

NFCU score: 294

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Very close to my score which is 297