Hey Everyone,
This is my first post on the forum, but I have been doing a lot of reading about NFCU. Decided to become a member of NFCU and apply for cashRewards. The system auto-denied me. 
I am a college student with a $14,000/year income. I have zero expenses and a good savings. I have had a Discover IT card ($1,500 limit) and Cap 1 Journey ($300 limit) for 3 months. I had 3 inquiries on my TU and a 688 TU vantage (no FICO's yet). I recon-ed through secure message right away and they said it will stay denied for credit reasons. Haven't recieved letter yet.
Just curious what people think the issue was and when should I try applying again? I really want NFCU card. Probably slim history or no FICOs? Sucks, b/c I really wanted to get a start with Navy.
Appreciate any thoughts,
Brandon
EDIT: Forgot to mention, I am AU on Syncrony card with $12,000 limit
Just spoke with a rep today and asked about what I could do. They recommended either the secured card or a credit builder loan to establish some history with them. I think the credit builder loan would help diversify my score, was thinking $501 for 12 months.
Saw the guide on this forum about a credit builder loan, does NFCU allow you to pay the loan down to 9% and still keep the loan for 12 months? Should I try both or just wait to reapply at a later time?
Saw the guide on this forum about a credit builder loan, does NFCU allow you to pay the loan down to 9% and still keep the loan for 12 months? Should I try both or just wait to reapply at a later time?
Saw the guide on this forum about a credit builder loan, does NFCU allow you to pay the loan down to 9% and still keep the loan for 12 months? Should I try both or just wait to reapply at a later time?
Yes, absolutely, it works like a charm. Pay it down right away. It will report right after the 1st of the next month regardless of payment date. No pull either! You also get 92% of your money back in a few days after paying it down.
The SSL would be great but if you could swing it, the secured would be excellent. With just a thin file and no degrog's, I would imagine that graduates pretty quickly in your case. The $500 (or whatever) IS locked up until it graduates or you close it however unlike the SSL. If you do the math, $541.00 does both... SSL first.
Exactly what I was thinking.
Do the SSL, pay it down, and then the secured. Is there anyway to get the secured without another hard pull or should I just apply again?
Do the SSL, pay it down, and then the secured. Is there anyway to get the secured without another hard pull or should I just apply again?
@brandon1767 wrote:
Exactly what I was thinking.
Do the SSL, pay it down, and then the secured. Is there anyway to get the secured without another hard pull or should I just apply again?
The SSL will not be a hard pull, I never even saw a soft pull for either myself or Wife. The secured card was a HP for me but that was 2 years ago. YMMV, but I would guess yes.