NFCU Quad Pull and Quad Approval = Customer for life

[Anonymous]

I was just thinking this. My scores are higher and I was only approved for $1,300! 

[jdxprs1]

How much was the original posters deposit?

[Anonymous]

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@jdxprs1 wrote:
How much was the original posters deposit?

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Had about $1500 between the savings and checking account I opened. Banking accounts were open for a few weeks before credit products were applied for.

[Erusidhion]

    This is probably the same method I will be taking when I apply. I'll just take the initial hit for multiple products that I want and see what gets approved and what doesn't. I don't mind providing Proof of Income or anything else. It's interesting that their CLOC is so high. I belong to a Credit Union currently that is local where I can borrow the entire credit limit of my card for no cash advance fee at 12.9% if I ever had to. I'll have to see if they have no cash advance fee on their credit cards but with my credit history I doubt I'll get a 10.9% credit card from NFCU right from the get go.

    I know I'll be applying for membership, then checking, a credit card and probably CLOC. Does Navy Feder offer PLOCs? Anyways congratulations on your approvals. I really need to get off my procrastinating butt and send in my own application and have a NFCU approval thread of my own on here. If they gave me a 20k+ credit card limit it'd definitely be my highest and I'd probably make NFCU my main bank 100% even though my local CU has treated me really well so far.

    Thanks for your informative post!

[JustcallmeTM]

Congrats on the OP, moving everything to NFCU to continue building with them was the right decision. 

On another note some others are mentioning they have higher scores and income, i'll say it again. Your high income and credit score doesn't mean a thing (seriously) with NFCU. 

NFCU uses the same FICO 4 guidelines they look at a person's overall total DTI ratio, when people finally realize this maybe I can stop ready about ones high income and score to expect a high SL like it means much. It's that simple with them, you will see OP had a total DTI of under 15% they will give you high limits with DTI that low. So if someone has mortages/loans that is messing with there overall DTI it's where low starting lines will come into play and having to prove your income to have someone manually look it over again with the income proof to override the first decision.

Member since 1999 before they even had online services.

[Anonymous]

As scary as it seems...
YES
Many places of employment report salary data in such a way that 'skip tracing' type processes make it simple and easy for lenders ( and others unfortunately) to gaze over whom you are and what you make.

Databases like LexisNexis and Theworknumber.com give skip tracers, process servers, debt collectors, law enforcement and Yes, lenders way more info than you really want to know....

Ppl that work for BIG Fat companies especially big enough where H.R. is centralized and the like it becomes easy to get data
Many city, county state, Federal employee hire dates and salary info is so available it isn't funny...You can TELL your neighbor what they make AND how much their benefit package is worth.

Many times all it takes is just Googling a neighbor's name that you know works for say the school district and Bam you've got Job Titles Pay grade Benefit package, everything...Type in the address and you can see what they paid, when they Refi'd, how much they got if his & her name are on it or did her Father have to co-sign
All w/o a subscription to a service, just think what would be at your finger tips with PAID services.

Welcome to modern life, it's almost to the point unless you work for yourself or a small employer everything else is public record or at minimum very easy to get.

[AverageJoesCredit]

I believe the DTI is a huge factor but i wont believe high income has no say in approvals for higher limits etc. . When you ask the posters who have gotten huge sls or big increases their income iit always seems to be 40, 50, 60 k plus. Im sure Navy takes into account your income , the more you make the more you can spend. Just my own humble thoughts on it.

[Meanmchine]

Jawdropping

[Anonymous]

Also a thing to consider is that NFCU uses their own scoring system for many of their products, including CC. So FICO scores shpuld be taken just as a guideline.  My NFCU score is higer then any of my FiCOs.  About 10% higher if you consider the scale difference.

I can pretty much gaurentee my salary is out there in big data world and NFCU partakes in what ever system it is in, I see NFCU asking for POI almost every time for CLOC and other products, I will try to do some snopoing around at my office and see what they send employee data to.

I just PIF my first statement, I know usually everyone waits till the first CLI to apply for a second CC, but I want the Flagship card bonus so I will app for it in a few days and report back.

[Anonymous]

Stunning!! Giant congratulations!!! That is all....