Just got in NFCU! When to apply for a CC?

[Anonymous]

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@Anonymous wrote:
Awesome info @Saeren! Had no idea that was available! However, my ancestor died that year. I need the next edition of the master file to find it. Do you know where I can access one any newer?

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You would have to get a trial for a service like Ancestry. I actually stumbled on my grandfather’s social there when I was looking for anything I could find about him. They have access to records up to 2014. 

https://www.ancestry.com/search/collections/ssdi/

[CBTS]

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@VanderSnoot wrote:

Congratulations and welcome! I can't answer your new member questions, as I've been a member for a while and no longer remember the process, but others here will chime in. When you apply for a CC, make sure you also apply for a Checking Line of Credit (CLOC). It works as overdraft protection and presents as a revolving loan (same as a CC) on your CR: contributing to age, utilization, etc. Best of all, NFCU won't close it for lack of use, so let it sit and age. If you apply for the CC and the CLOC on the same day, you should avoid a second HP. As for when to apply for the CC and CLOC, my guess is that it depends on the strength of your credit. If your credit history isn't very long or has some derogs, then you may be better off waiting 3-6 months before applying. That said, I'm not an expert like others on this board, so listen to the more experienced voices here. Again, congratulations - NFCU is a great partner.

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Thank you! I'm looking forward to being a member for life.

[CBTS]

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@Anonymous wrote:

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@pipeguy wrote:

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@CBTS wrote:

I applied and got approved for a membership on Monday. I wasn't sure if I should wait before applying for a CC with them since they still haven't requested any verification documents. I read a few posts which gave off the impression that if you apply for CCs right after getting the membership, NFCU will usually start you off with a low limit. Is there any correlation between SLs and the request for verification?

As a side note: I got in through my roommate who's an Army veteran and also a member. My DL has the current address, and I also have electric, gas, and internet under my name. All 3 of the CRs show this address as well. I read some posts where NFCU required documents to be sent in before approving the membership, I imagine that must be due to address discrepancies on CRs. But in cases where they don't ask for verification beforehand, how long after approving membership do they typically do the verification?

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Typically once approved with checking/share accounts set up you'd be good to go for a CC through NFCU, and yes it may be a low starting limit but it will grow quickly if your spending and payments history with NFCU is good. That being said I'd be surprised if being a "roommate" of a member with no marriage or bloodline relationship will get you in as an NFCU member.

NFCU membership is pretty broad meaning if a blood relationship to military or DoD service, even going well back such as a grandfather as long as you have a copy of their DD-214 or some other acceptable documentation.  PenFed on the other hand no longer requires direct military relationships. If I were you I would wait before applying for any credit product through NFCU.    

Add: https://www.navyfederal.org/membership/become-a-member/eligibility.php

Although "household members" are listed, I'd be surprised if "roommate" would be considered as a household member. - if so, NFCU has really opened up their qualification requirements - perhaps to compete with PenFed?

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Navy Federal's online application clearly states that you can be sponsored by a roommate who is already a member.

OP, the credit limit you're likely to get from NFCU is not determined by how soon after membership you apply; rather its a function of your current credit score and your DTI ratio.  Also, I wouldn't worry about verification; from all reports and appearances, verification appears to be done at random.

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Thank you for the response! That's exactly what I was looking to figure out.

[calyx]

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@Anonymous wrote:
Awesome info @Saeren! Had no idea that was available! However, my ancestor died that year. I need the next edition of the master file to find it. Do you know where I can access one any newer?

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Don't stress it too much. 
I had my proverbial ducks in a row (father, both grandfathers, brother, and a host of uncles, just because) and they didn't ask for any information other than name and affiliation (service branch).    It's good to have if they want verification, but I don't think i've heard of them requiring it lately.

I joined on Monday, btw.

[CBTS]

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@AverageJoesCredit wrote:
Even though this seems to be a valid entry point into Navy, it can also be the most precarious. Make sure you have all your t's crossed and i's dotted. Congrats on your approval. Also , just because one person gets approved right away for a 25k cc doesnt mean the next will. All profiles are different and thus will be treated differently.

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Thanks for the heads up. I'll make sure I have everything straightened out and ready to be sent (it already is) if need be.

I understand I wouldn't get a SL of 25k for a bunch of reasons, the main one being my BK7 discharge is only 17 months old. I was referring to a few posts that implied NFCU wants you to be at least 24-months post-discharge before approving for anything over $1000. And some posts that suggested the SL will be $500 if they don't verify info beforehand. Which didn't turn out to be the case, at least not for me. Last night I got a call from a rep welcoming me to the CU and to set up some online security features. I ended up letting her put the application in for the cashRewards CC and got approved for $2400 at 13.24% APR. I was happy to just be able to join the CU, but the SL (and APR) absolutely floored me. I started another post in CC Approvals subforum with more data points.

[CBTS]

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@Anonymous wrote:
Where am I gonna get a deceased ancestors SS#?

So is it a HP to join?

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For me, no HP to join or opening checking and savings.

[Anonymous]

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@calyx wrote:

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@Anonymous wrote:
Awesome info @Saeren! Had no idea that was available! However, my ancestor died that year. I need the next edition of the master file to find it. Do you know where I can access one any newer?

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Don't stress it too much. 
I had my proverbial ducks in a row (father, both grandfathers, brother, and a host of uncles, just because) and they didn't ask for any information other than name and affiliation (service branch).    It's good to have if they want verification, but I don't think i've heard of them requiring it lately.

I joined on Monday, btw.

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NFCU has gone through waves over the years as far as I can tell with forum posts between periods of little verification and periods of heavy verification and when they do decide to verify, it appears to be quite a nightmare to deal with so it’s best to just have your ducks in a row from the outset and make a trip to the branch with the DD-214 in hand just in case. 

[Anonymous]

@Saeren Yep, he's there, I joined Ancestry, but doesn't give SS#. However, i found the last 4 somewhere on a site one of them linked too, so thanks!!!

Now I hear there's sometimes a SP when you join and subsequent offers can be tied to score at time of joining. Any factual basis to this? Should I wait for best scores to join? What bureau do they pull for CC and SSL?

[CreditobsessedinFL]

Thank you @saeren, I just used the info in your post to find a SS# and request the DD-214 for membership verification, if requested. 

[Anonymous]

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@CreditobsessedinFL wrote:

Thank you @saeren, I just used the info in your post to find a SS# and request the DD-214 for membership verification, if requested. 

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I'm glad I was able to help you!