@Aim_High wrote:
@Anonymalous wrote:Here's an odd DP: I just tried Navy's online tool, and I was prequalified for all 6 of their cards, including the Flagship. ... Except I don't have a FICO score.
@Anonymalous, don't want to burst your bubble but I don't believe Navy FCU's prequals are very reliable. I'd use them with caution. One big red flag for me would be that they included the Flagship Rewards card yet you have no FICO, only one AU account and no cards yet in your own name. We've had a lot of members be denied for Flagship Rewards, even with established credit. Historically, they've required a minimum approval SL of $5K although there were a couple of reports of less in the past 12 months. You might be approved for a card other than the secured card, but I would suggest starting with something other than FSRs. Also, if you don't already have deposit accounts with direct deposit going to Navy, that might improve your odds with no other significant credit history. Lenders are often more open to extending credit to banking customers. Either way, good luck and keep us informed!
Thanks for the cautions, but don't worry, I have realistic expectations. There's no bubble to burst 
I know prequalification tools aren't particularly accurate, I'm aware that many banks/CUs strip out or ignore AU accounts, and I've seen many of the stories about people being rejected for the Flagship, particularly when they don't have any other NFCU cards or much of a history with the CU. When any UWers look at my full profile, they're going to see a very thin and young file (my only personal line of a credit is a 5 month old card).
But I did think it was an interesting development, because it looks like the addition of the AU account was enough to generate a FICO score a couple weeks early. If I was still unscoreable, I don't think Navy would have prequalified me for anything but the secured card. I've also seen a dramatic change in the credit card offers I'm seeing at Experian -- instead of CreditOne Nascar tier cards, I'm seeing things like the Citi DoubleCash and the Chase Freedoms. While Experian only updates the score (or lack thereof) that I see once a month, the shift in marketing suggests they've generated one and they're using it internally. I might sign up for that $1 trial to see FICO scores from the 3 bureaus, but it really doesn't matter. I'm not planning on applying for any cards until I have a full 6 months of payment, see if Cap1 gives me a CLI on my Platinum, and setup an SSL and give it time to start reporting. At that point, I'll probably ask for some advice on the forum, because I really have no sense of what my chances are for anything.
Requested $8K 6 month CLI on my Platinum. Took a little over 24 hours to process. Requested online - SP. Card sees a few charges every other month. Nothing substantial.
If I have app for a second card a bit too early by their standards (2 full + 1 statement comprised of 24 days + 91 days from issuance), does the system just reject it without processing or would I take the HP hit AND be rejected for being 'too soon' or whatever language they use?
My 181 days were up on my first Navy card, so hit the love button. Requested 8k, received 8k. Doing my happy dance. Love NFCU!
Been with Navy Federal for a little over a year and wanted to share my tl;dr experience with them:
- Early October 2020 - became a member
- Mid October 2020 - first direct deposits hit accounts (have paycheck split so hits multiple checking/savings accounts)
- Late October 2020 - open Platinum, $20k SL, 12.99% APR
- Early January 2021 - automatic $4k CLI on Platinum, $20k -> $24k (77 days from account opening)
- Mid March 2021 - opened More Rewards, $21.7k SL, 12.99% APR
- Mid September 2021 - requested CLD on More Rewards down to $10k (I try to have my total available credit stay under double my income - I know it's not necessary, but is a personal preference), also requested to be locked from automatic CLIs, requested through message
- Late September 2021 - requested $1k CLI on Platinum, $24k -> $25k (probably seems silly with above but I like round numbers), requested online, soft pull
- Late October 2021 - Platinum turns a year old, request through message for APR reduction granted, 12.99% -> 6.99%
Overall I'm very happy with Navy Federal. I have the two cards I want from them at the exact limits I want them at. Platinum is now at 6.99%, so getting close to lowest APR. Customer service has been solid, definitely enjoy how much can be done using secure messages. The Navy Federal hype is real.
APR 
Future 
Chopping Block 
P2 Chopping Block 
I just got declined for a Navy Flagship card, I already passed 91 days/3 full statements and my 4th statement in few days away. Did I jumped my gun by going for the Flagship card? I currenntly have Platinum card which I utilize very well and pif. I got dcu card no hard pull cc along when I got platinum, I was wondering does amount of new credit a factor for the denial becasue of this I didn't request for CLI on the Platinum. Do I stand any chance for a recon?
EXP: 782 EQ: 781 TU: 784
Age of Most Recently Opened Account: 3 months
Average Age of Accounts: 1 year 2 months
Age of Oldest Account 2 years 0 months
Utilization : 4% would probably at zero if I wait until Nov 12
Thank you
@tmax2020 wrote:I just got declined for a Navy Flagship ... I was wondering does amount of new credit a factor for the denial
It very well could be. What does your recent credit-seeking behavior look like for the last 6/12/24 months, @tmax2020? Navy is more sensitive to credit-seeking than some anticipate, including myself. I got denied for that reason with a very high FICO, high Navy internal score and established membership. See this thread for those denial data points.
Also, what is your overall debt-to-income ratio? As with many credit unions, Navy may be a little sensitive to debt load.
From my experience, Navy seems to loosen the purse strings at their own speed, so a denial for a card or CLI may mean they want to get to know you better. Others can correct me if I'm wrong, but I don't think I've seen many successful recons with them. Time and a little gardening will probably work wonders.
Thank you for the response, my DTI is low, annual of 75k, 52% of auto loan paid.
TU Inq since 2019
Cap1 CC Nov 2019, Auto loan in March 2020 4x hard inquiry and just 1 inquiry July 2021 for Navy Platinum cc = 5/24, 1/6 and 2/12. Two new accounts in July 2021
Eq Inquiries 2019
Cap1 CC Nov 2019, Cap1 Auto Mar 2020, Penfed membership Jul 2020, Penfed cc app Dec 2020 -- Denied 1/24, 2/12 and 4/24
Experian 2019
Cap1 cc 2019, Disco Dec 2019- denied, 3x-auto March 2020, Discover & Bofa dec 2020 both approved, Amex feb 21 - Denied = 8/24
I have 2 new accounts in December 2020 and 2 new accounts since July 2021 Navy plat and DCU- no hard pull