Navy Federal approval

[SCOTTYKASH]

Hello all,  I just got accepted in to Navy Federal today. I started up a checking and savings account.   I have about $10k in credit card debt with very high interest rates. I'm in a big credit rehab process and would love to transfer a balance over to one of thier cards.  My score is only around 620 at the moment.  What are my chances of approval on a CC with Navy?  How long should I wait to apply?   Thanks for any feedback provided. 

[sznthescore]

Welcome to the Forum! For starters, what do you currently have credit card wise? A 620 credit score won't yield you much unless you want to start with a secured credit card. NFCU has their own internal scoring system. A banking/CU relationship or any relationship for that matter starts with trust, dedication and loyalty. Good luck.

Note: This post should be moved. It's not an actual credit card approval.

[SCOTTYKASH]

Thank you.  I currently have Barclays View, Barclays Frontier Card and Capital One Savor. 

Sorry if I'm in the wrong spot. Rookie mistake.  

[sznthescore]

@SCOTTYKASH  It happens no worries. I'm assuming and could be wrong without knowing any other details, but maybe it's your utilization that has your scores suppressed? 🤔

NFCU has been great for me. They like use of their products and direct deposit for starters. It helps with internal score.

[SCOTTYKASH]

Yes, your assumption is correct. I signed up for Checking with direct deposit, and savings as well.  They asked about applying for a CC but I hesitated figuring it would be best to have some time with them under my belt to increase my chances.  

thanks again for your input. 

[slickwidit]

pull the trigger and go for it

[SouthJamaica]

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@SCOTTYKASH wrote:

Hello all,  I just got accepted in to Navy Federal today. I started up a checking and savings account.   I have about $10k in credit card debt with very high interest rates. I'm in a big credit rehab process and would love to transfer a balance over to one of thier cards.  My score is only around 620 at the moment.  What are my chances of approval on a CC with Navy?  How long should I wait to apply?   Thanks for any feedback provided. 

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Welcome to the forum.

Congratulations on your NFCU membership; an excellent credit union.

Unfortunately, I think you need to just work on improving your score, and shouldn't make any credit applications at this point.

[Creditwiser]

I would wait to see 650-670 range at minimum. Otherwise you might get approved , but with low SL leaving you unable to transfer any real useful amount for your BT.

[FireMedic1]

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@SCOTTYKASH wrote:

Hello all,  I just got accepted in to Navy Federal today. I started up a checking and savings account.   I have about $10k in credit card debt with very high interest rates. I'm in a big credit rehab process and would love to transfer a balance over to one of thier cards.  My score is only around 620 at the moment.  What are my chances of approval on a CC with Navy?  How long should I wait to apply?   Thanks for any feedback provided. 

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Welcome @SCOTTYKASH 

NFCU likes for you to build with them. Get your negs down and then look into one for their cards. Get up to the 700 range.

Side note. Click on the 3 dots top right of your post. Click "Edit: Change yout title and add "Chances".

[SCOTTYKASH]

Thanks. I just checked Experian and I'm currently at 667. I will let it climb a little more and keep my fingers crossed