@Anonymous wrote:Once a person joins NFCU, does s/he receives the whole membership kit in the snail mail? Can she now get her husband into joining NFCU since they both live together? If so, then what would that eligibility be? Household member?? The email she got from NFCU states- "If you haven't opened a savings account already, submit at least $5 for your membership savings account by either depositing the funds at your local branch or by mailing a check to Navy Fderal Credit Union" and then they have provided an address in VA to send the check. Now she doesn't know if she has opened the account or not while applying the membership, so she can do it now? If she will send the check then she has no any account number nor any access number.
There's not really a "kit" they send, but yes you'll get some sort of welcome letter. Yes if they live together, her husband can now join via the household member route.
And I agree with others saying she should call to fund her savings account.
@Anonymous wrote:
@cashorcharge wrote:
@Anonymous wrote:One of my family members has just joined Navy Federal and wanted to know how to proceed. I am sure you guys could help her out. Should she apply for a credit card with NFCU now or wait for a while...a few months in order to build some kinda relationship with them to get a good credit limit on her first card? Or waiting doesn't matter if her profile is thick enough without any derogatory info? Obviously, NFCU did a soft pull from Equifax for her membership, so would they use the same SP for her credit card application if she were to apply for her first card now, or there would be another inquiry, a HP one? Further, she has not opened any saving or/and checking account with them yet since she just got approved for the membership, and didn't have any access number or any info related to her membership as of now. She just received only an email telling her that she is now a proud member of Navy Federal, so in the absence of any Access Number, how she be able to open any saving/checking account with them or just wait until something comes in the mail?? Please share your opinions. Tnx
Congrats to your friend. A few things though I know a lot of us here have experience with NFCU. She can app for a credit card now. The "preapproval" page they offer is not entirely accurate so don't use that as a gauge. Her first SL may be small, though this is really credit file, income and DTI dependant. Some have come away with $5000 some $20,000. Avoid the Flagship as her first card...get something else since underwriting is different on that card and not the best "beginner" card with them. It will be another TU HP when she applies for a card, they won't reuse the membership pull. When the account got opened, she should have provided a way to fund the intial account with funds from another bank...unless she was there in person. Once her account is set up, likely tomorrow....she will be a full fledged member and can apply for a card. Suggest she sets up mobile app access to her accounts as well with login credentials because she will need that when she applies for anything. She may also want to avoid a Credit Line/Personal Line of credit as those have been capped lately. If she goes for the card, she can circle back for a CLI after 3 full statements (after 91 days) of the account being open asking for a CLI. Those are SP when done online.
Thank you so much...Very much appreciated. I am newbie here, thus don't know all these jargons- DTI...I know that there is never a guarantee ...not now and not in the future...if she would get definitely be approved and for how much credit line...but a few postings I have read on many forums wherein its stated that most people who apply their cards right away don't get big line of credit limit but if people have waited at least 90 days after joining NFCU then they are seen to have good line of credit on their first card...not always this is the case but in majority of them its seen like this....
1. If she is a member, she has at least a savings account.
2. Yes she can apply for a credit card right away. (The "90 day" things to which you refer are unrelated to your question. That has to do with requesting credit limit increases and with applying for 2nd and 3rd NFCU cards.)
Sounds like a plan to me...-
....By the way, I see here a lot people having using the word' "garderning", what that means??
@Anonymous wrote:I'm not sure why my signature isn't/wasn't visible, possibly a setting in your profile?
As for stats, FICO 8s are 10 points or so either side of 700 depending on bureau, FICO 9s in the 760-770 range. Just over $100k total credit lines with Amex, Discover, Citi, Synchrony, Comenity, CapOne, TD Bank, PenFed, local CU, etc, with high single-digit usage. Five new cards this year. Car loan this past May. Inquiries range between 8 and 11 per bureau (some from the car loan, some from new cards, two on EQ from increasing my Home Depot card from $500 to $10,000). One old paid derog on my reports, falling off April 1.
My feel is what I said above - a lot of new credit this year, brand new to Navy, and I took a loan from them earlier in the morning before applying for the card. Had I not taken the loan, I assume there was a possibility that the card would've been larger but I wasn't concerned with it. I have plenty of available credit and didn't need this one to be much more than the first card in with them to establish revolving history and open the door for a significantly larger card later on. If Navy considerably opens the purse on the next one I'll reallocate some of it to this card.
I'm waiting beyond 91/3 to get it though. If I give it an extra month or so before the second card, my final derog will be gone and I'll be applying with three clean reports, so that's the plan.