Navy Federal Thread for CLI and Additional Cards

[Kinglord]

Ive never done one before, during the applicaiton process account numbers along with amounts were added.  How long does it take to pay off the credit cards?  Navy Federal is the new card if that helps

[Anonymous]

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@Aim_High wrote:

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@bustout wrote:

Has anyone ever charted the NFCU internal score to determine the correlation to acceptances and CLI amounts?

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From my understanding, you only learn your Navy internal score if you are declined, not accepted.  That puts some limitations on how helpful that would be.  I imagine that "internal score" is not the only factor used in the decision anyway.  For example, with other lenders you can easily have a great credit score but still be declined for new credit due to some factor like debt-to-income, new accounts, inquiries, etc.   I don't know what goes into that internal score but it's probably heavily influenced by your length of time as a member, your payment history on NFCU accounts, how many types of accounts and loans you have with them, etc.

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Hi everyone, just wanted to post a response (my first in this thread) I recently joined NFCU a little over a month ago. I app'd for tha cash rewards card and was approved for 1k sl. They sent me my card and a letter a day after with my internal score which explained what they based their review on. If anyone wants to see a copy of the letter  I can dig it up and screenshot. 

[bustout]

After I was approved for my Platinum card (at the lowest rate) I received a letter from NFCU with my internal score.

[Anonymous]

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@bustout wrote:

After I was approved for my Platinum card (at the lowest rate) I received a letter from NFCU with my internal score.

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That's an anomaly. They are only required to send a letter when you don't get the most favorable terms. 

[Anonymous]

My $200 NRewards unsecured last month to $2,000 Cash Rewards. I immediately asked for an increase to $3,500 and they countered to $2,900. 😊😊👍 

My question is when should i apply for a second card? Which card should i go for? 

[Anonymous]

@Anonymous 

Congrats on the graduation and your nice CLI x 2!!

You can go for a second card at any time now but you may want to spend a few months showing Navy you can handle the increased limit on the first card but some folks go for the next card right away. The new card should be one you can use and one that will be a good fit with your current needs. The underwriting is the same for all of them, with the exception of the Flagship. You would need to be approved for a $5K minimum with the FS or it would be a denial.

You are on the way to a great future with Navy now! Congrats again and I look forward to following your journey!! 

[Ivylicious1908]

I think this was asked before but not sure so I will ask anyway. My father is coming off BK chp 7 and Navy approved him for a secured cc. Is it best for him to just get the secured cc or should I add him to my navy cc as an AU to start his credit worthiness with Navy?

Of course I know he still has a ways to go, he's only a year out of BK.

[Anonymous]

@Anonymous thank you! I plan to use tbe second card for my daily driver, groceries etc.  I am going to wait til after i close on my home and apply in a couple months. So far my first statement since the increase has been generated, i think ill wait til July or August

[EverForward]

Updated FICO09 scores available on Navy. 😀

[Anonymous]

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@EverForward wrote:

Updated FICO09 scores available on Navy. 😀

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I had too many cards report a balance this month and got whacked. 788 went down to 775.