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NFCU GoRewards and CashRewards DENIAL but then something unexpected happened

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Anonymous
Not applicable

Re: NFCU GoRewards and CashRewards DENIAL but then something unexpected happened


@Anonymous wrote:

@Anonymous wrote:

@Anonymous wrote:

Honestly I have heard great approval stories on credit and loan approvals for people who open accounts within 24 hours so I am assuming as long as you show a POI when they request it they will approve if they see fit. My auto loan with them is in the $30k range and they still didn't ask for POI.


 

Thanks for that data point!  For reasons not easy to explain, I prefer to avoid a POI, and am trying to determine what triggers them with NFCU, and what is unlikely to trigger them.  All of this data is useful. thanks.



Not a problem! My opinion is to get an income flowing regardless of the source and have it consistently deposited into your NFCU checking account. I am a heavy spender when it comes to cash and I reach <$150 multiple times a month so I am sure they see this but regardless they did not ask for any further documentation of POI, etc. I have multiple ACH deposits coming in through out each from via Venmo from my SO splitting rent and utilities, etc to them they may see this as income even though it is not disposable for me to use as a payment towards any of my lines of credit. If it helps any with all the credit I have with NFCU, my taxable income is about $40k a year. 


 

Thanks!  I truly appreciate all of your data points, including taxable income.  Originally I thought you were a high roller, whom I couldnt relate with, until I got to the end of your post.  Then again, Im operating on about 2 hours sleep due to this board(lol), so my head's not quite right.  Smiley Happy   My situation is a bit different though, so I'm open to reading many more NFCU stories to try to figure them out.  I could deposit some cash I have on hand, possibly even in monthly incriments....not sure if that would warm them up? I really dislike banks, and even credit unions are so similar to me, I like being like SILAS MARNER, who kept his money under the floorboard in that iconic book! Smiley Happy
 

Message 21 of 27
CreditInspired
Community Leader
Super Contributor

Re: NFCU GoRewards and CashRewards DENIAL but then something unexpected happened

OMG. This was required reading more than 50 years ago. 😂 The things one remember.


|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macys $24.2K || NFCU CLOC $15K || NFCU Platinum $15K || CitiCostco $12.7K || Chase FU $12.7K || Apple Card $7K || BOA CashRewards $6K
Message 22 of 27
Anonymous
Not applicable

Re: NFCU GoRewards and CashRewards DENIAL but then something unexpected happened


@Anonymous wrote:

@Anonymous wrote:

@Anonymous wrote:

Honestly I have heard great approval stories on credit and loan approvals for people who open accounts within 24 hours so I am assuming as long as you show a POI when they request it they will approve if they see fit. My auto loan with them is in the $30k range and they still didn't ask for POI.


 

Thanks for that data point!  For reasons not easy to explain, I prefer to avoid a POI, and am trying to determine what triggers them with NFCU, and what is unlikely to trigger them.  All of this data is useful. thanks.



Not a problem! My opinion is to get an income flowing regardless of the source and have it consistently deposited into your NFCU checking account. I am a heavy spender when it comes to cash and I reach <$150 multiple times a month so I am sure they see this but regardless they did not ask for any further documentation of POI, etc. I have multiple ACH deposits coming in through out each from via Venmo from my SO splitting rent and utilities, etc to them they may see this as income even though it is not disposable for me to use as a payment towards any of my lines of credit. If it helps any with all the credit I have with NFCU, my taxable income is about $40k a year. 


@Thank you @Anonymous !

 

Here's another data point. I asked for the max CLOC last night and it went into review. They counter-offered with $7500 on the condition I show them POI. I uploaded two paystubs in a secured message this morning and accepted the offer just now. They're mailing the promissory note to me and the CLOC will be active once they receive a signed copy.

 

My scores are in my sig, I've been a member for about a month, have a $1700 CC with them, my income is around 55K and I have a massive amount of student loans in deferrment.  

 

Receiving credit from this institution has been the easiest and most hassle free by far. I wish they were in the business of refinancing federal student loans.

Message 23 of 27
Anonymous
Not applicable

Re: NFCU GoRewards and CashRewards DENIAL but then something unexpected happened


@Anonymous wrote:

@Anonymous wrote:

@Anonymous wrote:

@Anonymous wrote:

Honestly I have heard great approval stories on credit and loan approvals for people who open accounts within 24 hours so I am assuming as long as you show a POI when they request it they will approve if they see fit. My auto loan with them is in the $30k range and they still didn't ask for POI.


 

Thanks for that data point!  For reasons not easy to explain, I prefer to avoid a POI, and am trying to determine what triggers them with NFCU, and what is unlikely to trigger them.  All of this data is useful. thanks.



Not a problem! My opinion is to get an income flowing regardless of the source and have it consistently deposited into your NFCU checking account. I am a heavy spender when it comes to cash and I reach <$150 multiple times a month so I am sure they see this but regardless they did not ask for any further documentation of POI, etc. I have multiple ACH deposits coming in through out each from via Venmo from my SO splitting rent and utilities, etc to them they may see this as income even though it is not disposable for me to use as a payment towards any of my lines of credit. If it helps any with all the credit I have with NFCU, my taxable income is about $40k a year. 


@Thank you @Anonymous !

 

Here's another data point. I asked for the max CLOC last night and it went into review. They counter-offered with $7500 on the condition I show them POI. I uploaded two paystubs in a secured message this morning and accepted the offer just now. They're mailing the promissory note to me and the CLOC will be active once they receive a signed copy.

 

My scores are in my sig, I've been a member for about a month, have a $1700 CC with them, my income is around 55K and I have a massive amount of student loans in deferrment.  

 

Receiving credit from this institution has been the easiest and most hassle free by far. I wish they were in the business of refinancing federal student loans.




They definitely hand out credit like candy, I wish I would have applied for a higher CLOC but this was all before I researched it on these forums. I would have just applied for the max, stuck with $5k for now until I sign my promissory note and the CLOC goes active before I can ask for a CLI via secure message

Message 24 of 27
Anonymous
Not applicable

Re: NFCU GoRewards and CashRewards DENIAL but then something unexpected happened

Ha, that is awesome that you remember Silas Marner, youre getting a kudos as soon as I am done tying this!  I VAGUELY remember it, other than he hid his money under the floorboards and saved a young girl.  The money under the floorboards (I did that for other people who skim, I really appreciate people like you who read the whole post...even though some of mine get out of control with their length...im trying to learn how to be more concise).  Thanks again, it is great seeing someone familiar with that book!!!  Smiley Happy  It was required reading for me too, and I think for a reason!  I like storing my money and letting others know what I have(in this age of lack of privacy, where the government can easily find a way to demand to track you) as much(little) as Silar Marner did!!

Message 25 of 27
Anonymous
Not applicable

Re: NFCU GoRewards and CashRewards DENIAL but then something unexpected happened


@Anonymous wrote:

@Anonymous wrote:

@Anonymous wrote:

@Anonymous wrote:

Honestly I have heard great approval stories on credit and loan approvals for people who open accounts within 24 hours so I am assuming as long as you show a POI when they request it they will approve if they see fit. My auto loan with them is in the $30k range and they still didn't ask for POI.


 

Thanks for that data point!  For reasons not easy to explain, I prefer to avoid a POI, and am trying to determine what triggers them with NFCU, and what is unlikely to trigger them.  All of this data is useful. thanks.



Not a problem! My opinion is to get an income flowing regardless of the source and have it consistently deposited into your NFCU checking account. I am a heavy spender when it comes to cash and I reach <$150 multiple times a month so I am sure they see this but regardless they did not ask for any further documentation of POI, etc. I have multiple ACH deposits coming in through out each from via Venmo from my SO splitting rent and utilities, etc to them they may see this as income even though it is not disposable for me to use as a payment towards any of my lines of credit. If it helps any with all the credit I have with NFCU, my taxable income is about $40k a year. 


@Thank you @Anonymous !

 

Here's another data point. I asked for the max CLOC last night and it went into review. They counter-offered with $7500 on the condition I show them POI. I uploaded two paystubs in a secured message this morning and accepted the offer just now. They're mailing the promissory note to me and the CLOC will be active once they receive a signed copy.

 

My scores are in my sig, I've been a member for about a month, have a $1700 CC with them, my income is around 55K and I have a massive amount of student loans in deferrment.  

 

Receiving credit from this institution has been the easiest and most hassle free by far. I wish they were in the business of refinancing federal student loans.


Thanks you for the data points, I gave you kudos too.  I appreciate this, so I have an idea what to do when I pull the trigger.  How much did you ask for on the CLOC, and do you have to send anything additional for your POI other than the promisary note?  I havent signed one of those since collage loans when I was 18 or so...so would you please remind me what yours says basically?  Thanks in advance, I love this board! 

Message 26 of 27
Anonymous
Not applicable

Re: NFCU GoRewards and CashRewards DENIAL but then something unexpected happened


@Anonymous wrote:

@Anonymous wrote:

@Anonymous wrote:

@Anonymous wrote:

@Anonymous wrote:

Honestly I have heard great approval stories on credit and loan approvals for people who open accounts within 24 hours so I am assuming as long as you show a POI when they request it they will approve if they see fit. My auto loan with them is in the $30k range and they still didn't ask for POI.


 

Thanks for that data point!  For reasons not easy to explain, I prefer to avoid a POI, and am trying to determine what triggers them with NFCU, and what is unlikely to trigger them.  All of this data is useful. thanks.



Not a problem! My opinion is to get an income flowing regardless of the source and have it consistently deposited into your NFCU checking account. I am a heavy spender when it comes to cash and I reach <$150 multiple times a month so I am sure they see this but regardless they did not ask for any further documentation of POI, etc. I have multiple ACH deposits coming in through out each from via Venmo from my SO splitting rent and utilities, etc to them they may see this as income even though it is not disposable for me to use as a payment towards any of my lines of credit. If it helps any with all the credit I have with NFCU, my taxable income is about $40k a year. 


@Thank you @Anonymous !

 

Here's another data point. I asked for the max CLOC last night and it went into review. They counter-offered with $7500 on the condition I show them POI. I uploaded two paystubs in a secured message this morning and accepted the offer just now. They're mailing the promissory note to me and the CLOC will be active once they receive a signed copy.

 

My scores are in my sig, I've been a member for about a month, have a $1700 CC with them, my income is around 55K and I have a massive amount of student loans in deferrment.  

 

Receiving credit from this institution has been the easiest and most hassle free by far. I wish they were in the business of refinancing federal student loans.


Thanks you for the data points, I gave you kudos too.  I appreciate this, so I have an idea what to do when I pull the trigger.  How much did you ask for on the CLOC, and do you have to send anything additional for your POI other than the promisary note?  I havent signed one of those since collage loans when I was 18 or so...so would you please remind me what yours says basically?  Thanks in advance, I love this board! 


I asked for the max. There's a drop-down menu for you to choose from. They just asked for two paystubs. Like I said before, I only direct deposit a small pecentage of my income in my checking, so I figured they would want to verify my income. 

 

They're sending me the promissory note via regular mail since there isn't a branch near me. Once they receive my signed copy, the CLOC will be active.

Message 27 of 27
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