Just became a member of Navy fed - want to get a CC how long should I wait ?

[Anonymous]

So today I finally got the email approval welcoming me as a member of Navy Fed. It took a bit as they needed more proof of identification from me. I've heard tons of good things about them and are eager to start a relationship. 

I opened a checking/savings account to start. I'm planning on wanting to open a few CC with them. My questions are as follows..

How long till I app for my first card with them? The pre approval page shows I pre qualify for all there cards currently..

Would it help if I transferred say 10k into my account and let it sit for a bit and then apply? Or make multiple transfers into the savings account over a period of time...Or will that make no difference at all?

I hear the first card they offer is usually somewhat on the lower limit side of things but then after a certain period of time you should apply for there flagship card and that's when you usually hit it big. What's a good entry level card to app with , and how long till apping for the second card? 

I know they have there own internal scoring system so I'm hoping I qualify for atleast a entry level card with them first. I have 0 inquires / 0 collections / 97% payment history with one late payment from about 9 months ago / 6yrs average age of credit / 1% overall utilization. 

I'm also planning on going on a small apping spree since I haven't apped for any cards in years now - planning on apping for a navy fed card , Amex card , and a Home Depot or Lowe's card. Is there any particular order you guys suggest I should app Incase some Company's are pickier then others or makes no difference ? 

Hoping some people with knowledge on Navy fed can chime in on where I should start.

Cheers ! 

[Anonymous]

https://ficoforums.myfico.com/t5/Credit-Card-Applications/Joined-NFCU-how-long-to-wait-before-applyi... 

Someone asked the same question in the last day

To boost your first limits and approvals they like some things like:

military service

direct deposits

demonstrated ability to handle loans with them (SSL, PL, Auto, etc., 3+ months may considerably help)

For those lenders you listed, probably just apply to the ones you want most first

[Anonymous]

Congratulations for getting into Navy! They are the best!

Your profile doesn't sound too terribly unlike mine last year, but yours is actually better.

What I did was get a checking/savings account. Started using it, but I was and am poor so it was just modest amounts going in and out. 

After a few weeks, when their representative called (as they do with every new member) she was SO NICE. I told her about my recent credit history. I had a baddie that was about 7 months old (90-day late that was settled, but I still was paying off high balances on closed accounts—but everything was sorted and I was keeping up to date). I had a secured card, a few store cards, and a Discover card that were all 6 or so months old. But I also had a long credit history (from the recently-closed credit cards). 

When I told her all of this, she seemed most interested in the problems I was having AT THAT TIME. She said, several times, "But you're all caught up now. You're all good now, right?" She also was impressed that I had a relatively low debt-to-income. (I think it was 18-19%.) So even though I was poor, and even though I had this pretty recent baddie in my history, I also had a decently long credit history and I had been doing great for the last several months. My problems seemed to be behind me. My open and active credit cards all were always paid up. (My utilization was all whack because the closed cards were still being paid off, and they had been maxed out.)

Anyway, she talked me into applying for a CashRewards, and I got a $1000 starting limit!

I can't guarantee that you'll get accepted for a card, and yeah, if you have money to put into your account, that can't hurt, but I didn't have any money to put into my account and they still gave me a card. And for the next three months I LOVED THE HECK out of that CashRewards card, using it constantly, sending in little payments to it constantly, and three months on the dot, I applied for my second card, the Amex one, and got a $17K limit! (Which absolutely FLOORED me!)

Looking at how you describe your credit history, I would be very surprised if they turned you down. You have very low util? I had probably 100% util (counting my closed credit cards—only counting my open cards it was probably 5%). I had low income. I had several inquiries, you have none. I had no collections or bankrupcies, but I had to settle for "less than full amount" so it was bad. I think you have a good shot at anything other than the Flagship. I wouldn't be shocked if you got more than $1000, but who knows.

I can't guarantee anything, but just based on my experience? I think you have nothing to worry about. Good luck! 

PS: And if they turn you down for a card, I hear that they'll offer you a secured card. 

[GApeachy]

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@Anonymous wrote:

I applied for my second card, the Amex one, and got a $17K limit! (Which absolutely FLOORED me!)

Great dp's, review, outcome!  Makes me want to join.   

Good Luck OP!

[addicted_to_credit]

@GApeachy , you should they're awesome!

[LakeLife]

My data points are as follows:

• Started relationship with them with just basic savings account and minimum deposit.
• ~Two months later got a $40k auto loan at 2.29% interest
• ~Six months after that applied/approved for the Platimum card with a SL of $23.1k at 5.99% interest

I didn't have that much going on with them and still managed to get an over 20k SL.  My guess is six months of payment history on the auto loan helped.  My scores have dropped ~20 points since then due to higher UTIL and a mortgage refinance, but I was very happy with the outcome.  They are great to work with.  

Congrats on your account OP!

[CreditMagic7]

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@Anonymous wrote:

Congratulations for getting into Navy! They are the best!

Your profile doesn't sound too terribly unlike mine last year, but yours is actually better.

What I did was get a checking/savings account. Started using it, but I was and am poor so it was just modest amounts going in and out. 

After a few weeks, when their representative called (as they do with every new member) she was SO NICE. I told her about my recent credit history. I had a baddie that was about 7 months old (90-day late that was settled, but I still was paying off high balances on closed accounts—but everything was sorted and I was keeping up to date). I had a secured card, a few store cards, and a Discover card that were all 6 or so months old. But I also had a long credit history (from the recently-closed credit cards). 

When I told her all of this, she seemed most interested in the problems I was having AT THAT TIME. She said, several times, "But you're all caught up now. You're all good now, right?" She also was impressed that I had a relatively low debt-to-income. (I think it was 18-19%.) So even though I was poor, and even though I had this pretty recent baddie in my history, I also had a decently long credit history and I had been doing great for the last several months. My problems seemed to be behind me. My open and active credit cards all were always paid up. (My utilization was all whack because the closed cards were still being paid off, and they had been maxed out.)

Anyway, she talked me into applying for a CashRewards, and I got a $1000 starting limit!

I can't guarantee that you'll get accepted for a card, and yeah, if you have money to put into your account, that can't hurt, but I didn't have any money to put into my account and they still gave me a card. And for the next three months I LOVED THE HECK out of that CashRewards card, using it constantly, sending in little payments to it constantly, and three months on the dot, I applied for my second card, the Amex one, and got a $17K limit! (Which absolutely FLOORED me!)

Looking at how you describe your credit history, I would be very surprised if they turned you down. You have very low util? I had probably 100% util (counting my closed credit cards—only counting my open cards it was probably 5%). I had low income. I had several inquiries, you have none. I had no collections or bankrupcies, but I had to settle for "less than full amount" so it was bad. I think you have a good shot at anything other than the Flagship. I wouldn't be shocked if you got more than $1000, but who knows.

I can't guarantee anything, but just based on my experience? I think you have nothing to worry about. Good luck! 

PS: And if they turn you down for a card, I hear that they'll offer you a secured card. 

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I personally know of no better Credit Union financial institution staffed with exceptionally friendly, polite, and helpful people as they can come than NFCU. I LOVE your story and it's no surprise to me whatsoever.

[Anonymous]

Welcome to NFCU!!!!

My wife and I have been members for about a year now, and when we joined I deposited a few hundred dollars in it.  I didn't have any offers in the my offers section.

I waited for my 3 scores to top 700 before blindly applying.

I applied for the Amex (more rewards card) and got approved for $7300.

At the time of app I was at 

TU 702

EX 666

EQ 728

This is FICO8, Im not sure what they use.  I can't say if you should pull the trigger on app or not but thats just how I personally got in.

good luck!! 

[JNA1]

I joined in Jan of this year abd dumped about $500 in the savings account. I made a few withdrawals for cash a few times, but I always deposited what I took out back in there, usually plus a few bucks more. In August, I applied for a More Rewards card and got a $23,100 SL. I fully expected a low limit on the first card, and was blown away at that SL. IDK if it was the 8 month history that helped, but I can't imagine it hurt. 

DW joined in June and immediately applied for a More Rewards card and got a $3K SL. She got an auto-CLI of $1500 on her 3rd statement. Today she applied for the cashRewards card and got approved for a $7500 SL. Her file is much thinner than mine, so I figure that's the difference the SLs.