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NFCU Credit Card

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NFCU Credit Card

So I was Discharged from BK 7 in May of 15. I obtained two capital one cc's. The platinum card for $1500 and the QS for 2500.  I kept my vehicle through the orderal then in OCT decided to get rid of it. I got a loan thru capital one at 12% and thought i could live with it during rebuilding. Then I was approved for Barclays card for $1500 (currently up to $2500.00). This past February my wife's lease was up and we bought a new car through Toyota and I was approved for 1.9% for 72 months. Then in March I obtained a Amazon store card for $800.00 Walmart for $800.000 and Banana Republic for $300.00. Both my Capital one cards have been upgraded to venture one cards and limits for $3500.00 and $4000.00. So i was reading the rave reviews about NFCU, I signed up for an account and got everything set up then applied for the Cashrewards (unsecured card), Denied!! Then I sent a message talking about payment history this and that, they emailed me back and said the stick with their decision? What gives? How long do you have to be out of BK to get unsecured credit.  I really don't want to tie up $500.00 for a secued card. Any thoughts?I also wanted to refinance my car loan that is with capital one at 12% with them, but I'm gun shy of a denial or not a rate that would be worth it.

Message 1 of 10
9 REPLIES 9
Moderator

Re: NFCU Credit Card


@rabernathy13 wrote:

So I was Discharged from BK 7 in May of 15. I obtained two capital one cc's. The platinum card for $1500 and the QS for 2500.  I kept my vehicle through the orderal then in OCT decided to get rid of it. I got a loan thru capital one at 12% and thought i could live with it during rebuilding. Then I was approved for Barclays card for $1500 (currently up to $2500.00). This past February my wife's lease was up and we bought a new car through Toyota and I was approved for 1.9% for 72 months. Then in March I obtained a Amazon store card for $800.00 Walmart for $800.000 and Banana Republic for $300.00. Both my Capital one cards have been upgraded to venture one cards and limits for $3500.00 and $4000.00. So i was reading the rave reviews about NFCU, I signed up for an account and got everything set up then applied for the Cashrewards (unsecured card), Denied!! Then I sent a message talking about payment history this and that, they emailed me back and said the stick with their decision? What gives? How long do you have to be out of BK to get unsecured credit.  I really don't want to tie up $500.00 for a secued card. Any thoughts?I also wanted to refinance my car loan that is with capital one at 12% with them, but I'm gun shy of a denial or not a rate that would be worth it.


First of all, welcome to the forums!  Smiley Happy

 

Before I say anything, I want to mention how you've done exceptionally well with your rebuilding since your bankruptcy.  What you have accomplished in the time so far is nothing to sneeze at, and is commendable.

 

Just keep in mind that your bankruptcy isn't even a year old yet... in credit terms, it's still quite 'fresh'.  While I can understand your desire to get unsecured credit, with some lenders you will have to "crawl before you can walk", so to speak.  I'll say that NFCU is known to many to be fantastic for rebuilding, and their secured card will graduate in time... and when it does graduate, it will likely grow quickly.

 

My experience with NFCU is only with their unsecured Platinum card, so I'll let others chime in with their own experiences with the secured cards.  While getting (or not getting) a secured card is of course your decision, it's one that I would personally give a lot of consideration to, especially with NFCU.  Smiley Wink

Message 2 of 10
Established Contributor

Re: NFCU Credit Card

Normally I would say since you have unsecured cards there is no reason to get a secured card.  But since you have the opportunity to get one with NFCU I would do it.  Uncle B is right, once it graduates it will grow quickly and all there other products will open up to you as you are showing them that you are responsible.

Amex Gold NPSL / Venture $23,000 / Discover $12,500 / NFCU Cash Rewards $40,800/ NFCU GO Rewards $8000 (AU) / Amex ED $15000 / NFCU Flagship Rewards $26300 / CFU (AU) $4000 / QS1 $3000 / Citi Costco $3000 (AU) / Amex Delta $9500 / FNBO Amex $10,000 / NFCU CLOC $15,000
Message 3 of 10
Super Contributor

Re: NFCU Credit Card

you can get the unsecures or wait a few months. one they run your credit they have their eyes on you
i am on mobile so i don't see your desktop signatures
Message 4 of 10
Contributor

Re: NFCU Credit Card

If you can get in with NFCU go for it. I started rebuilding one year ago with a secured card with cap one. I've grown with cap one bit finally got in with navy federal cu 3 mos ago. My limit jumped from 2900 to 14000 in 3 mos along with a second visa with 9100 limit.
Message 5 of 10
Established Member

Re: NFCU Credit Card

Thanks for the input to all!

Message 6 of 10
New Member

Re: NFCU Credit Card (eventual success!!!!)

Hope this helps someone out there.  Three months ago I joined NFCU and immediately applied for their card with the $25 annual fee.  I currently have a 650 CL (+ or -) CR.  I was promptly turned down for it but they had a rebuttal option and I used it to pour my heart out to anyone who'd listen at NFCU to give me even the smallest chances.  A littled over a week later I was informed my rebuttal didn't work out and I was flatly denied again;  REASONS GIVEN FOR TURNDOWN: too many recent inquiries, too many open accounts, bad credit to debt ratio.

 

So anyway, I closed all of my store credit cards out, probably about 5 total.  I paid down my existing credit cards as low as I could, then I applied for NFCU's 1st step up CC (rewards VISA) from the bottom line one I was turned down for after about 2.5 months and was approved for $4600 literally HOURS ago. 

 

I'm a believer!

Message 7 of 10
Contributor

Re: NFCU Credit Card

Sounds like they are a lot like Discover in that they are all over the place, however, they are different in that they stick by what they say. As an example, if they say too many cards and you remove cards they hook you up.

 

So, unlike many people here I was approved for a Discover card 2 months out of BK, even though its secured, I've read how alot of people cant even get a secured card till a year after BK, so I feel I got lucky there. So I am thinking I may wait until Feb/March time frame to apply for my NFCU CC.

 

Anyone have any stats of CC approval based on checking account utilization with NFCU? Example: Person A uses checking with them on a weekly bases and gets approved for CC, Person B does not use checking with them and gets denied CC.


Start: May 2016 EX 424 (Lawyer) Current: December 2016 TU 641 (Discover Card)
My Timeline: http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/My-Story/td-p/4784950
Last Hard Pull: October 2016 (Discover Card)
$400 Credit One 8/2016 Balance $0 {|} $200 Discover (Secure) 10/2016 Balance $0
Message 8 of 10
Valued Contributor

Re: NFCU Credit Card

My BK is four years old. I have a TCL of 175 k all but one card is unsecured. Still have a CITI secured. Have a mortgage and two car loans. 2 LOC Things fell into place for me around the two year mark. Am now in with CO BC DC CITI TD WF NFCU AKUSA PFCU Synchrony Comenity and Blispay. Keep your head up.

AX Hilton Aspire 20k, AX Bonvoy Brilliant 15k, AX Bonvoy Business 15k, AX BCP 2k, AX Blue Bus Cash 15k, AX Hilton Honors Business 10k (AU), AX Delta Air Platinum 15k, (AU) AX Platinum Amerprise charge card (AU), AX Amazon Prime Bus 25k, BC Uber 29k, AKUSA FCU -10k , Discover (2) 16k, Kohls-4k, VS Comenity $2k, BofA AK Air Siggy 9.8k, WF Propel AX 5k, JCP $8k PFCU Plat Rewards Siggy 39.5k, PFCU Power Cash Rewards AX 10.5k, NFCU Go Rewards 35.5k, NFCU Flagship 50k, CLOC 15k, CITI Costco 9.5k, GAP VISA Synchrony $9k,Target 2k, Ulta MC Comenity 9k, Pay Pal 1k, CO Venture One 23k, US Bank Radisson Rewards Signature 10k, US Bank Fred Meyers World MC, 11k, VS Comenity 2k, 240k total available credit. Utiliz-2%, Current FICO EQ-724, EX 740,TU 748,Chapt 7 BK D/C 11-2012. Starting scores 520-550
Message 9 of 10
Valued Contributor

Re: NFCU Credit Card (eventual success!!!!)


@JulioHones wrote:

Hope this helps someone out there.  Three months ago I joined NFCU and immediately applied for their card with the $25 annual fee.  I currently have a 650 CL (+ or -) CR.  I was promptly turned down for it but they had a rebuttal option and I used it to pour my heart out to anyone who'd listen at NFCU to give me even the smallest chances.  A littled over a week later I was informed my rebuttal didn't work out and I was flatly denied again;  REASONS GIVEN FOR TURNDOWN: too many recent inquiries, too many open accounts, bad credit to debt ratio.

 

So anyway, I closed all of my store credit cards out, probably about 5 total.  I paid down my existing credit cards as low as I could, then I applied for NFCU's 1st step up CC (rewards VISA) from the bottom line one I was turned down for after about 2.5 months and was approved for $4600 literally HOURS ago. 

 

I'm a believer!


I was denied for Platinum on 9/12/2016, recon denied as well, overall util 17% at the time. Fast forward to last week, I apped for CashReward this time and the very next day its already showing on my online account with SL of 14K, and my overall util this time around is 25%. Nothing really changed other than my util. Gotta love NFCU.

On a side note, the app status still shows " review in process" which I thought was little weird. No request for any doc so far.

I'm happy on one hand cz its already showing my account but the status still shows review in process. Quite dont know what to think.

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 photo nfcu debit card_zpsprkh98jw.png photo nfcu visa siggy_zps0gjgyxje.png/ photo nfcu goReward card_zpsixhh1qcp.jpg photo sdfcu platinum card_zpspilihdiv.png  photo penfed reward cash_zpsyckxjc7y.png photo alliant visa_zpsaf4udfx0.jpg photo Citi Secured_zpsypzxi0jm.png photo fnbo platinum_zpsxfub6esb.png photo marvel-credit-card_zpsfkvc3ux5.png photo golden 1 CU_zpslhgxynjv.pngBurned AECitiChase
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