NFCU experts please help with my build (very clean, very thin file)

[Anonymous]

Hi looking for some people that are well versed on recent NFCU data points, and how they typically do things to chime in on how I should handle applying for the products I want from them. Long story short I never really used credit much, but I am slightly more educated now on the benefits of having a good credit file. I started in Mid 2016 wanting a nice car, but having no FICOs and FAKOs that werent very good. I went ahead and got what most people would probably consider a suicidal car loan in 3Q 2016, and a secured CapOne in 2Q 2017. I never got around to getting a 3rd trade line however my FICO scores are now generating with just my 2 current tradelines. After much procrastination I joined up with NFCU in late 2017, and I would like to build my credit file mainly with them.

As far as products go I would like an Auto Refi, 2 credit cards (AMEX and cash rewards Visa), and eventually a CLOC. My question is basically how to space the applications out. It seems odd to me personally to app all 4 on the exact same day and I want to minimize the risk of denials, recons, duplicative pulls, account freezes/flags, etc. I know the installment loan lending and credit card lending are done seperately, but I am not sure if an Auto refi and a CLOC can be done on the same pull or not, or if 2 card apps can be done on the same pull; or even if all 4 can be done on one pull. Ultimately inquiries are not something that will ever be a huge issue for me but I want to get everything done as quickly and painlessly as possible. I setup Direct Deposits from my employer that will total $40k in cash deposits to the account per year, and put a few grand in a Share Savings account for good measure.

Thanks in advance for anyone that can chime in with advice.

AAoA 11months

2 Accounts (1 revolving/1 installment)

3% Revolving Utilization

1 Hard Inquiry (CapOne on all 3B ..... no NFCU hard pull showing for membership oddly)

0 Collections

0 Public Records

FICO8 722 EQ / 742 TU / 730 EX

FICO9 746 EQ / 730 TU / 739 EX

AUTO5 719 EQ / 727 TU / 754 EX

AUTO8 713 EQ / 751 TU / 728 EX

AUTO9 762 EQ / 743 TU / 754 EX

CARD5 720 EQ / 729 TU / 749 EX

CARD8 714 EQ / 747 TU / 734 EX

CARD9 755 EQ / 741 TU / 749 EX

[UncleB]

HI @Anonymous, you've likely not received any replies since you're asking about multiple products in the same thread. 

I'm moving this thread to 'Credit Card Applications' so your credit card questions can be addressed.  Note that questions regarding auto loans are generally placed in the Auto Loans forum and questions regarding the CLOC are usually placed in the Personal Finance forum, although there can sometimes be overlap.

--UB

[AverageJoesCredit]

Congrats on joining Navy and especially getting no hp for membership . You are already a leg up on most of us

I cant offer advice on the car refi or the cloc, but like UncleB said its probably best to app for 1 card now and build history with that. Maybe shoot for the CR first than depending on how urgent you want the Amex, give it 3 to 6 months to show Navy you can use and pay responsibly. With things changing a bit with Navy recently, im of mind that its good idea to take your time building up a relationship with Navy as it looks to be a great long term journey.

Youll find the traditional 90 days plus 3 statements cuts to apply for a cli but theres no shame in doing it every 6 months either. I myself may do that overtime as more history we build the more things may come to us. Best of luck and welcome to the Fam

[Anonymous]

Thank you for the advice, and replies. After considering your advice I applied for the cashRewards card and was instantly approved for $20,000.

I decided to go for the moreRewards AMEX as well but my app glitched out at step 3 and I decided to think on it for a bit. My thinking was that since I didnt get a HP for membership I had a "free" one to burn and if they declined me I would recon and ask they split off $5k from the cR SL, because I mainly want the AMEX to use in place of my debit card for every day purchases so the SL doesnt need to be very high on it; plus I still need a 3rd CC as I only have a $600 CapOne and the $20,000 cR. Then I clicked on the NFCU CLI thread and on the very 1st post Credit Addict says they no longer will split off SLs for denied cards? hmmmm. Plus I was not happy about the fact that the mR AMEX doesnt have the 30k SUB which apparently ended at the beginning of the month.... ehhhhh. I suppose I will just wait at this point until the 30k bonus comes back, I figure as long as it comes back in the next 10-12months then I will still be net "ahead" even if I was approved today.

So I will pause my build here I guess with just the auto refi and 1cc; I will come back and visit the AMEX when an attractive SUB is offered. I suppose I will hold off on the CLOC as well unless anyone can chime in on whether or not the HP for my auto refi can be used to approve me for the CLOC. Thanks again for the input !

Data Points:

Auto Refi

Short review to approval they had to verify pay off balance with lender

$23k  / ~125% LTV / 48mo / 6.09% APR

cashRewards Visa

Instant approval

$20k / 13.65% vAPR