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I've read hours upon hours of these Navy threads, and have been pretty impressed. So impressed as a matter of fact, I bit the bullet and joined NFCU today. After verification tomorrow, I was planning on app'ing the Flagship but now that I've read some of these posts (*chills,) may adjust course to the Cash Rewards and see where the limits fall. Will be sure to update with info as you all did in previous posts. I know they SP'd TU for membership but will HP on the app, which currently TU sits at 800.
Crossing fingers.
@Cred4All wrote:I've read hours upon hours of these Navy threads, and have been pretty impressed. So impressed as a matter of fact, I bit the bullet and joined NFCU today. After verification tomorrow, I was planning on app'ing the Flagship but now that I've read some of these posts (*chills,) may adjust course to the Cash Rewards and see where the limits fall. Will be sure to update with info as you all did in previous posts. I know they SP'd TU for membership but will HP on the app, which currently TU sits at 800.
Crossing fingers.
Congrats on joining NFCU!
At the risk of jinxing it, I would honestly go for the Flagship. With your scores and the other cards you already have I suspect you'll have no trouble at all, and the Flagship has a really good bonus right now.
As you've likely already read scores aren't everything with NFCU, but unless your utilization is really out-of-whack (technical term... LOL) I'll be surprised if you don't get a generous approval.
@UncleB wrote:
@Cred4All wrote:I've read hours upon hours of these Navy threads, and have been pretty impressed. So impressed as a matter of fact, I bit the bullet and joined NFCU today. After verification tomorrow, I was planning on app'ing the Flagship but now that I've read some of these posts (*chills,) may adjust course to the Cash Rewards and see where the limits fall. Will be sure to update with info as you all did in previous posts. I know they SP'd TU for membership but will HP on the app, which currently TU sits at 800.
Crossing fingers.
Congrats on joining NFCU!
At the risk of jinxing it, I would honestly go for the Flagship. With your scores and the other cards you already have I suspect you'll have no trouble at all, and the Flagship has a really good bonus right now.
As you've likely already read scores aren't everything with NFCU, but unless your utilization is really out-of-whack (technical term... LOL) I'll be surprised if you don't get a generous approval.
Appreciate the advice... yea, got spooked there reading about the Flagship possibly being 'Up the chain' so... That being said, for the low annual fee it really does pay for itself, and the SUB right now is definitely easily doable. My utilization today is showing 5% (No thanks to the dogs surgery on the Discover) and 0 inquiries on TU, so nothing crazy in my own view. Ultimately, that is the card I'm interested in so, perhaps if the jinx occurred and it was denied, no harm no foul.
@Cred4All wrote:
@UncleB wrote:
@Cred4All wrote:I've read hours upon hours of these Navy threads, and have been pretty impressed. So impressed as a matter of fact, I bit the bullet and joined NFCU today. After verification tomorrow, I was planning on app'ing the Flagship but now that I've read some of these posts (*chills,) may adjust course to the Cash Rewards and see where the limits fall. Will be sure to update with info as you all did in previous posts. I know they SP'd TU for membership but will HP on the app, which currently TU sits at 800.
Crossing fingers.
Congrats on joining NFCU!
At the risk of jinxing it, I would honestly go for the Flagship. With your scores and the other cards you already have I suspect you'll have no trouble at all, and the Flagship has a really good bonus right now.
As you've likely already read scores aren't everything with NFCU, but unless your utilization is really out-of-whack (technical term... LOL) I'll be surprised if you don't get a generous approval.
Appreciate the advice... yea, got spooked there reading about the Flagship possibly being 'Up the chain' so... That being said, for the low annual fee it really does pay for itself, and the SUB right now is definitely easily doable. My utilization today is showing 5% (No thanks to the dogs surgery on the Discover) and 0 inquiries on TU, so nothing crazy in my own view. Ultimately, that is the card I'm interested in so, perhaps if the jinx occurred and it was denied, no harm no foul.
With only 5% utilization I'll be genuinely shocked if you're not approved for the Flagship.
FWIW, the only thing 'up the chain' with the Flagship is the minimum $5k credit line, but I don't see that being a concern for you (based on your utilization and the cards you already carry).
Be sure to let us know how it goes!
@Shooting-For-800 wrote:So to recap...
Denied for NFCU Flagship
Approved for $1000 NFCU Cash Rewards
yet...
CLI of $2.5k on Paypal (all I asked for)
CLI of $5k on Lowes (all I asked for)
CLI of $2k on Discover
2-3 day pending on CLI for 2nd Discover
and...
prequaled or preapproved for
Regions cards including Premium Siggy
BBVA cards
US Bank cards including Siggy
Home Depot card
all within the same 3 days.
So weird. I really hope NFCU as good as people say. Time will tell.
Still can’t figure out NFCU.
Just got instant $10k SL Regions Siggy that pulled from TU also after getting denied and $1k from NFCU and Regions is a conservative bank.
$10k also in CLIs so far this week.
I got denied and $1k on a 745 score Then I see an instant $10k NFCU approval on a 570 score in another thread.
Just so confused...
DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!
@Shooting-For-800 wrote:
@Shooting-For-800 wrote:So to recap...
Denied for NFCU Flagship
Approved for $1000 NFCU Cash Rewards
yet...
CLI of $2.5k on Paypal (all I asked for)
CLI of $5k on Lowes (all I asked for)
CLI of $2k on Discover
2-3 day pending on CLI for 2nd Discover
and...
prequaled or preapproved for
Regions cards including Premium Siggy
BBVA cards
US Bank cards including Siggy
Home Depot card
all within the same 3 days.
So weird. I really hope NFCU as good as people say. Time will tell.
Still can’t figure out NFCU.
Just got instant $10k SL Regions Siggy that pulled from TU also after getting denied and $1k from NFCU and Regions is a conservative bank.
$10k also in CLIs so far this week.
I got denied and $1k on a 745 score Then I see an instant $10k NFCU approval on a 570 score in another thread.
Just so confused...
Here is another good reason why comparing NFCU approvals from one borrower to another isn't always helpful or illustrative.
In most cases we see, new NFCU members with extremely low scores that get approved for crazy SLs simply aren't carrying 30k in balances. In fact, I've never seen an approval with DPs anywhere close that I can recall. Yes, these low score borrowers may have UTI over, say, 9%, but if they do, we're typically talking a few hundred bucks to maybe 1-2k. And Navy isn't about to sweat that. Granted, none of us are in their UW dept (at least AFAIK), but that has to have been the primary reason, even if they tell you something different.
Meanwhile, comparing an NFCU approval to that of another lender, even a CU, can be tricky and not all that useful as well because they are practically incomparable.
I totally agree with you that you can't compare Navy to other lenders, they are exceptionally generous in the CL and scores they accept. I do take issue with your explanation for that behavior. It strains credulity that Navy UW would look at someones profile and say "low scores, lots of baddies but he/she probably won't use a lot of credit, so we will just give them $30,000 and all will be good." Lenders have to set aside reserves to cover their credit limits. They can't just willy-nilly and arbitrarily hand out limits becaquse they have to have financial reserves backing thos limits. This is exactly the reason AmEx is doing CLDs on people with accounts in good standing. AmEx looks and says "You have a CL of $30,000 but you are only running $2-3,000 a month through the account. We are going to cut your limits in half to $15,000 and you should still be more than good." Their reserves and amount they have to carry on their books as a contingent liability decreases and their profitability (at least on the books) should improve.
So what explains Navy approvals and their high SLs? Who knows. The conventional wisdom on here is that they are hard to figure out. Let's continue to collect data points and celebrate high limits but they are a riddle, wrapped in a mystery, inside an enigma, and defy explanation. Let's hope the party doesn't end.
Just app'd for the Flagship Rewards via phone. She stated they can of course be accepted within 10 seconds or go to review for 24hrs. Mine went to review . I'm flattered for the extra attention I suppose, and will update as to whether the Flagship is approved or told to pound salt.
@forestgreenrover wrote:Here is another good reason why comparing NFCU approvals from one borrower to another isn't always helpful or illustrative.
In most cases we see, new NFCU members with extremely low scores that get approved for crazy SLs simply aren't carrying 30k in balances. In fact, I've never seen an approval with DPs anywhere close that I can recall. Yes, these low score borrowers may have UTI over, say, 9%, but if they do, we're typically talking a few hundred bucks to maybe 1-2k. And Navy isn't about to sweat that. Granted, none of us are in their UW dept (at least AFAIK), but that has to have been the primary reason, even if they tell you something different.
Meanwhile, comparing an NFCU approval to that of another lender, even a CU, can be tricky and not all that useful as well because they are practically incomparable.
So you think it is completely logical to deny someone with a 745 fico score for $5k and only approved them for a different card for $1k when they are at 12% of their utilization but approve someone for $10k with a 570 fico score.
You mention dollar amounts, but the new $10k SL could be maxed out in a week and now you are comparing someone with a 520 fico score to someone with a 745 fico score who only owes $15k more and has 0 late payments and six figure income and much more money in his checking account than what he owes (all of which are on 0% promo credit cards.)
BTW - it is not like every other bank feels the same. AFTER being denied, I was instantly approved for $10k siggy and CLIs.
You really think that makes complete sense?
DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!