@Anonymous wrote:Hi, how do you check the internal scores? I am waiting to pay off both of my Navy Plat and Flag for the next report and new scores. I still have an auto loan with them. It was a refinance truck with more than $66k . No late, consistent payment since it pulls straight from my navy checking. I also added extra payment monthly to cover some of the interest. I am with them for 8 years now since active duty. Reading all these data give me a while ride. If scores are too good (and/or too many hps), deny or low sl. If scores are too low say below 600 deny. Scores from 640 to 700+ seem like the good scores to get approved.Just from my observation.
I read your link and thank you for that detail. After reading you post, I think I better wait for the next credit reports. I still have 4 HPs on my account.
Good observations about Navy FCU, @Anonymous. They do seem to have a "sweet spot." For those like myself with thicker files, higher income, higher FICOs, and more available credit, it seems they are a little slower to warm up. They are very good comparatively speaking to people in the middle-of-the-pack and especially for those who are building/rebuilding.
The only way to "check" your Navy internal score is if you are denied for credit. It is normally included in your denial letter, along with FICO score.
@AverageJoesCredit wrote:
@Aim_High wrote:
@Anonymous wrote:If scores are too good (and/or too many hps), deny or low sl. If scores are too low say below 600 deny. Scores from 640 to 700+ seem like the good scores to get approved.Just from my observation.
Good observations about Navy FCU, @Anonymous. They do seem to have a "sweet spot." For those like myself with thicker files, higher income, higher FICOs, and more available credit, it seems they are a little slower to warm up. They are very good comparatively speaking to people in the middle-of-the-pack and especially for those who are building/rebuilding.
@Aim_High i have a train of thought. Might be wrong but maybe Navy is more lenient to those in middle and bottom of packs because quite possibly many of its members were/are vets and especially active duty, where because of constant deployments and seperation from families and hardships, often times finances are not managed well and this could be Navy's way of helping the most who may need it most. Just spitballing but could be. I just know im honored that they look out after the little guys since many other banks and CUs dont.
You may be right, @AverageJoesCredit, and I apologize if I come across to some as entitled. Don't get me wrong. I'm all for lenders being open to helping out the "little guy" and those struggling to rebuild. My scores and financial stats have not always been so blessed, so I can certainly identify. Where I find it surprising is the apparent 'reverse discrimination' compared to the normal credit rules most lenders play by. Usually, we're told to get our financial house in order, pay our debts, raise our scores, and the doors open up. That's the way it usually does work. It's just surprising to see them reverse the rules instead of just opening the door more equally to everyone.
For example, if they want more credit to go around, why allow $80K limits per member instead of a lower cap such as PenFed's and USAA's $50K? Or if they really want to help those struggling from military deployments and stress, why do they so freely open membership to family members who may be quite removed from ever experiencing the stresses of military life, such as grandchildren or siblings?
By the way, one reason I was disappointed in how Navy has treated me is exactly due to the fact that I'm a 12-year active duty veteran. I'm a veteran of the Cold War years as well as Operation Desert Storm. I guess I thought they would give me a little special consideration for my service since they were originally founded to serve the military. USAA is very respectful in that regard and still even calls me by my military rank as a salute to my military duty. PenFed also seems to value my service. Meanwhile, Navy doesn't seem to give it much consideration.
I still like Navy FCU and plan to keep them around, but they've just been very slow to warm up to me, for whatever reason, and that has been surprising.
@AverageJoesCredit wrote:
@Aim_High wrote:
@Anonymous wrote:...If scores are too good (and/or too many hps), deny or low sl. If scores are too low say below 600 deny. Scores from 640 to 700+ seem like the good scores to get approved.Just from my observation.
Good observations about Navy FCU, @Anonymous. They do seem to have a "sweet spot."
@Aim_High i have a train of thought. Might be wrong but maybe Navy is more lenient to those in middle and bottom of packs because quite possibly many of its members were/are vets and especially active duty , where because of constant deployments and seperation from families and hardships, often times finances are not managed well and this could be Navy's way of helping the most who may need it most. Just spitballing but could be. I just know im honored that they look out after the little guys since many other banks and CUs dont.
In all fairness to Navy FCU, @AverageJoesCredit, I realized I forgot to point out in my other reply some other factors which may have led to my experience with them so far. While I know many lenders are sensitive to new accounts and new inquiries, I just never got the idea that Navy was that way. I delayed applying with them until towards the end of many new applications. (I had 8 new ones in 2019 and another in the spring of 2020.) I was approved for my Platinum card (but with a lower limit than others lenders had given me) and later denied for the More Rewards after that additional new account in 2020. Meanwhile, around this same time, I was approved by Bank of America and Wells Fargo even though Navy denied me the More Rewards, which is backwards of what I would have expected! This was also well into the pandemic in July last year when most lenders had tightened their underwriting. Regardless, maybe I expected them to be more different than they really are due to the glowing reviews on My Fico as well as my military background, which I had thought would give me the benefit of the doubt on approvals. Instead, that didn't seem to carry weight and was contrary to my expectations. I believe I underestimated how conservative they can be with credit-seeking behavior.
Still, the points above are also valid observations. As a brand new member, having an 850 FICO, thick credit file, or high income doesn't appear to carry the same weight it does with many banks until after they get to know you. They are on my short list for this year and I'm anxious to see how they respond after I've done some gardening.