UPDATE: Finally found a way in NFCU!!! Newbie Questions

[-Cal-]

UPDATE

I'm officially a member now, my wife and I create our own individual accounts on the same call. 

Since some people had different experiences with HPs, for or those of you who applied for both a CC + CLOC did you do it online or over the phone? Did you get 1 HP or 2 HPs? Nevermind it looks like its two HPs

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I'm pretty excited to learn that I have a path to join NFCU. It involves my father in law joining through his brother (current member), my wife joining, then finally me. I will be funding each account.

I read CreditAddict's informative CLI guide but it left me with a few questions. My apologies if these have been answered, but some of these aren't too obvious and others I wasn't able to easily track it down.

Questions:

1) This is more of a sanity check: We are in California. Is it true that they will HP Transunion for membership then HP Equifax for credit products? (My wife and I will be the only ones applying for credit products)

2) How long does one have to wait in between account creation to sponsor the next account? Can I create them all on the same day? a day apart? a week apart? etc..

3) What is the minimum financial contribution required to open and maintain an account?

4) Should I immediately apply for the NavCheck product after I apply for the Credit Card? CA's thread implies this but want to be 100% sure.

5) Should I expect only 1 EQ HP for both the Credit Card and the NavCheck application if done back to back?

6) Do they seem to take into account how much money you deposit into your account for the starting credit limit? Can I just get away with the minimum?

[Anonymous]

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@-Cal- wrote:

I'm pretty excited to learn that I have a path to join NFCU. It involves my father in law joining through his brother (current member), my wife joining, then finally me. I will be funding each account.

I read CreditAddict's informative CLI guide but it left me with a few questions. My apologies if these have been answered, but some of these aren't too obvious and others I wasn't able to easily track it down.

Questions:

1) This is more of a sanity check: We are in California. Is it true that they will HP Transunion for membership then HP Equifax for credit products? (My wife and I will be the only ones applying for credit products)

2) How long does one have to wait in between account creation to sponsor the next account? Can I create them all on the same day? a day apart? a week apart? etc..

3) What is the minimum financial contribution required to open and maintain an account?

4) Should I immediately apply for the NavCheck product after I apply for the Credit Card? CA's thread implies this but want to be 100% sure.

5) Should I expect only 1 EQ HP for both the Credit Card and the NavCheck application if done back to back?

6) Do they seem to take into account how much money you deposit into your account for the starting credit limit? Can I just get away with the minimum?

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1.  Most likely.

2. I'd wait at least a week between each account to avoid any issues with their Security department 

3.  Think $50 but may be less

4. Yes, apply for both back to back

5. Should work that way

6. No, no correlation as far as I can tell.

Congrats btw for finding a way in

[-Cal-]

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@Anonymous wrote:

1.  Most likely.

2. I'd wait at least a week between each account to avoid any issues with their Security department 

3.  Think $50 but may be less

4. Yes, apply for both back to back

5. Should work that way

6. No, no correlation as far as I can tell.

Congrats btw for finding a way in

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Thanks, I've been trying to find a way in for over two years. I would facetiously joke around with telling my wife I'm going to join the reserves and attempted to pursuade my younger brothers and brother-in-laws to join the armed forces. She would shut that down real quick.

Never knew her uncle was a member all this time. 

[Anonymous]

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@-Cal- wrote:

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@Anonymous wrote:

1.  Most likely.

2. I'd wait at least a week between each account to avoid any issues with their Security department 

3.  Think $50 but may be less

4. Yes, apply for both back to back

5. Should work that way

6. No, no correlation as far as I can tell.

Congrats btw for finding a way in

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Thanks, I've been trying to find a way in for over two years. I would facetiously joke around with telling my wife I'm going to join the reserves and attempted to pursuade my younger brothers and brother-in-laws to join the armed forces. She would shut that down real quick.

Never knew her uncle was a member all this time. 

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I can't believe that they wouldn't join for you.  Very selfish on their part 

[Anonymous]

On point 5, I've done a CC back to back with the Navcheck/CLOC (whatever they call it now) and they did 2 HPs. When I requested a CLI in both after the next AR, they did a CLI HP for each account as well.

Oz

[Anonymous]

You'll get a HP for membership, a HP for CC and a HP for CLOC. The CC and consumer loans (which the CLOC) are seperate departments and will each do their own pull. My understanding however is that if you go for a CLOC and are also thinking about an auto loan or refinance that they can use the HP from the CLOC for that. I wish I'd have know that back in Nov when I asked for CLI on my CLOC and took a HP. I might have gone for a new truck then too. As for deposit amounts I opened mine with $20 and was approved for a 14k CashRewards Visa and 10k CLOC the same day as my membership and two days later a Platinum MC with only $20 on deposit there. Received CLI's on both cards to 22k each  2 1/2 months later and still wasn't depositing much into them. I know have half my direct deposit going to them now but no you don't need to keep a lot on tap there to have sucess though they are a great option to do your primary banking with. 

[Anonymous]

Guess I got lucky because they only did one for membership and one for cc/NavChek

[-Cal-]

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@Anonymous wrote:

You'll get a HP for membership, a HP for CC and a HP for CLOC. The CC and consumer loans (which the CLOC) are seperate departments and will each do their own pull. My understanding however is that if you go for a CLOC and are also thinking about an auto loan or refinance that they can use the HP from the CLOC for that. I wish I'd have know that back in Nov when I asked for CLI on my CLOC and took a HP. I might have gone for a new truck then too. As for deposit amounts I opened mine with $20 and was approved for a 14k CashRewards Visa and 10k CLOC the same day as my membership and two days later a Platinum MC with only $20 on deposit there. Received CLI's on both cards to 22k each  2 1/2 months later and still wasn't depositing much into them. I know have half my direct deposit going to them now but no you don't need to keep a lot on tap there to have sucess though they are a great option to do your primary banking with. 

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I would consider them for primary banking if there was a branch I could walk into close to where I live.  

So you had 4 HPs from them?

Day 1: 1 HP = Membership; 1 HP = Cash Rewards; 1 HP = CLOC

Day 3: 1 HP = Platinum MC - What was your SL limit on this one?

Why didn't you go for 25k CLI on each card? Was your CLI a SP?

[-Cal-]

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@Anonymous wrote:

Guess I got lucky because they only did one for membership and one for cc/NavChek

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Thats the type of luck I need in my life. 

[Anonymous]

You will love NFCU. I have switched all my banking to them. I am EXTREMELY satisfied with NFCU.