Approval for NFCU Cash Rewards

[happyelle]

Thank you!

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@M_Smart007 wrote:

Welcome To myFICO Forums and

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[happyelle]

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@Jnbmom wrote:

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@happyelle wrote:

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@snickerpedia wrote:

@happyelle wrote:

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@snickerpedia wrote:

I am wondering if you should have selected the flagship if you were looking for a higher SL. The rep said you were approved for all unsecured and the flagship min is 5k (correct me if I'm wrong)

Congrats your new card !!!

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Hi, and thank you!! I don't know what their flagship is, eeek!I was thinking I wouldn't get approved for AMEX since my SSN is attached to a defaulted business card. 

The nfcu Amex is not tied to a defaulted amex that you were on/had.

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Really? I didn't know that. I thought all Amex cards were connected to the Amerian Express company.

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No only american express cards issued directly through them (centurion bank) are truly amex cards.

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Does Citi work the same way?

[Jnbmom]

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@happyelle wrote:

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@Jnbmom wrote:

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@happyelle wrote:

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@snickerpedia wrote:

@happyelle wrote:

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@snickerpedia wrote:

I am wondering if you should have selected the flagship if you were looking for a higher SL. The rep said you were approved for all unsecured and the flagship min is 5k (correct me if I'm wrong)

Congrats your new card !!!

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Hi, and thank you!! I don't know what their flagship is, eeek!I was thinking I wouldn't get approved for AMEX since my SSN is attached to a defaulted business card. 

The nfcu Amex is not tied to a defaulted amex that you were on/had.

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Really? I didn't know that. I thought all Amex cards were connected to the Amerian Express company.

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No only american express cards issued directly through them (centurion bank) are truly amex cards.

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Does Citi work the same way?

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@happyelle 

No citibank does not. 

[VanderSnoot]

Congrats, OP, on getting in on NFCU and a great card!

Just to explain a little more about Amex, credit cards have both issuers and networks. The issuer is the lender: it's who you get the card from and who you pay every month, such as Chase, NFCU, Capital One, and Bank of America. The network is how the merchant/vendor communicates with the issuer. The four networks are: Visa, Mastercard, Amex, and Discover. Just to make it confusing, Amex (a network) has also created an issuer; on these cards American Express is both the network and the issuer. DIscover does the same thing: it acts as network and issuer on its cards.

Two examples:

1. Navy Federal Cash Rewards. Navy Federal is the issuer. American Express is the network. You applied to Navy Federal, they performed their underwriting algorithm magic, and you were approved by Navy Federal. American Express is not involved.

2. American Express Gold Card. Amex is both the issuer and the network. If you applied for this card, Amex (acting as the issuer) would perform their own underwriting magic. During this process, they will realize that you burned them in the past, and they may decline to loan to you again (other people have gotten back into their good graces, and so can you).

I hope that helps.

[DCreationrebel]

Congrats&this was my NFCU 2019 journey😄
1/22/19: Joined and was approved for a CashRewards Visa Signature $19,500

4/23/19: at 91/3 approved for GoRewards Visa Signature $5,000 then req a cli for my cashRewards Visa Signature increased by $3,000 now $22,500.

10/23/19: approved for Platinum Visa $15,000 product changed to another cashRewards Visa Signature.

Love NFCU congrats again.

[happyelle]

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@VanderSnoot wrote:

Congrats, OP, on getting in on NFCU and a great card!

Just to explain a little more about Amex, credit cards have both issuers and networks. The issuer is the lender: it's who you get the card from and who you pay every month, such as Chase, NFCU, Capital One, and Bank of America. The network is how the merchant/vendor communicates with the issuer. The four networks are: Visa, Mastercard, Amex, and Discover. Just to make it confusing, Amex (a network) has also created an issuer; on these cards American Express is both the network and the issuer. DIscover does the same thing: it acts as network and issuer on its cards.

Two examples:

1. Navy Federal Cash Rewards. Navy Federal is the issuer. American Express is the network. You applied to Navy Federal, they performed their underwriting algorithm magic, and you were approved by Navy Federal. American Express is not involved.

2. American Express Gold Card. Amex is both the issuer and the network. If you applied for this card, Amex (acting as the issuer) would perform their own underwriting magic. During this process, they will realize that you burned them in the past, and they may decline to loan to you again (other people have gotten back into their good graces, and so can you).

I hope that helps.

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It does, thanks!

[happyelle]

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@DCreationrebel wrote:
Congrats&this was my NFCU 2019 journey😄
1/22/19: Joined and was approved for a CashRewards Visa Signature $19,500

4/23/19: at 91/3 approved for GoRewards Visa Signature $5,000 then req a cli for my cashRewards Visa Signature increased by $3,000 now $22,500.

10/23/19: approved for Platinum Visa $15,000 product changed to another cashRewards Visa Signature.

Love NFCU congrats again.

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That’s sooo awesome!

Thank you, I’m going to just give it time since I am new to revolving credit again.

Experian score simulator says I’ll have a 740 score once I pay my bills on time for the next 24 months, I’m currently at 681 as of today - my discover zero balance was reported.

Do you think it’ll be bad if I only used the NFCU card and put the Capital One and Discover in the sock drawer?