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NFCU love during rebuild w/ collections

Britneynp
New Member

NFCU love during rebuild w/ collections

Hi everyone,


First off thanks to all who support and carry this forum. I have been rebuilding for years but am finally in a financial space to do so without setbacks. I've lurked this forum for years and you all are a life send and the only ones I trust to verify sometimes shady info. Anywho enough rambling. I just wanted to give someone someone some hope. I've been with Navy for 2 years but recently switched them to my main bank. I opened a 60 month secured loan about on 5/3 to try and give me a boost as I want to purchase a home this year. Paid it down to right under 8% the next day. Started reading about a cc and decided to app tonight for the rewards card based on everyone's stories. Instant approval of $10,000 w/ 17%apr (high but grateful). If you're rebuilding keep going it pays off Smiley Happy. File listed below. If you can get in with Navy do so because no one shows this type of love. Do you all suggest gardening or applying for 2nd card after 91 days?


Fakos - Ex 593, EQ 602, TR 615

 

Collection accountsTotal balance: $6,492
ARS ACCOUNT RESOLUTION -$578 (Medical and disputing this week)
 
JEFFERSON CAPITAL SYST - $749 (Disputing this week)
 
MIDLAND FUNDING - $787 
 
PORTFOLIO RECOV ASSOC - $4,144
 
SOUTHWEST CREDIT SYSTE - $69 (Disputing this week)
 
24 REPLIES 24
ClassicMan
Valued Contributor

Re: NFCU love during rebuild w/ collections

Congrats on your approval! This forum has some much knowledge. Great job on the rebuild as well. As far as the 91/3, in my opinion, it depends on you. If you think you need a 2nd card I would do it. I know some people with be against it since you plan to apply for a mortgage but it varies per person.

12/18/19




05/27/20





Cards

Authorized User
Message 2 of 25
AllThingsInTime
Established Contributor

Re: NFCU love during rebuild w/ collections

@Britneynp  Welcome to the forum! Super Congrats on your Navy Fed approval! Smiley Very Happy

 

Since you plan on apping for a mortgage later this year, I'd chill for a minute.

You're still in rebuild mode, so you know full well that boosting scores is all

about 1) adding positive tradelines and 2) removing negative ones. I see that

you're in the process of disputing some of your collections. That's a smart move.

Between removing your baddies and adding new positive tradelines like your

Navy Fed card, by year's end you should be in much better shape for your mortgage app. Smiley Very Happy

 

Congrats again on your success. Please keep us posted

on your progress. Thanks so much for sharing!!! Smiley Very Happy

Message 3 of 25
James_A
Senior Contributor

Re: NFCU love during rebuild w/ collections


@Britneynp wrote:

... Instant approval of $10,000 ... If you can get in with Navy do so because no one shows this type of love ...


Indeed! That's a great approval -- Congrats! Smiley Happy & thanks for the DPs. Many will benefit. Smiley Wink

Starting Score: (5/24/2018) -- FICO 08 EXP: 643; FICO 08 TU: 642; FICO 08 EQ: 677
Current Score (3/12/2021): FICO 08 EXP: 748; TU: 755; EQ: 773
2020 Goal Score: 760 across the board


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Message 4 of 25
M_Smart007
Epic Contributor

Re: NFCU love during rebuild w/ collections

 Welcome To myFICO Forums and

Message 5 of 25
gdale6
Moderator

Re: NFCU love during rebuild w/ collections

Congrats on getting in the door, keep up the good work and welcome to the board Smiley Happy

Message 6 of 25
coreyb80
Valued Contributor

Re: NFCU love during rebuild w/ collections

Congrats on the approval and much continued success on the rebuild!!

Message 7 of 25
AllZero
Super Contributor

Re: NFCU love during rebuild w/ collections

@BritneynpCongratulations on your approval!

 

I'm sure you probably all ready know, you can request for APR reduction on the anniversary date of account open.

Message 8 of 25
LeilaniS
Established Contributor

Re: NFCU love during rebuild w/ collections

@Britneynp 

Congrats and welcome to the myFico community! Thanks for sharing all the DP's, it is very much appreciated!

 

The thing that I am learning during my build is that time is my friend and aging my current lines is critical. IMHO, I would use the heck out of the new card, pay in full before the statement cuts, rinse and repeat for six months and then evaluate your options. One thing's for sure, take care of your accounts and the 2nd card will be waiting for you when the time is right! I look forward to following your journey!! Smiley Very Happy

Message 9 of 25
ElCocineroRojo
Contributor

Re: NFCU love during rebuild w/ collections

Wow! Congrats on that MONSTER CL! Really goes to show just how much Navy pays attention to your relationship with them!! Plenty of people with stronger credit profiles only get approved for $500-$1000 all the time when they open an account and then a credit card back to back!

 

I would think (based on your approval) that at 91/3 they will approve you for another card (if you need one)! As far as gardening goes, If you have 3 revolvers, and all the credit cards you NEED, I would garden until mortgage!

 

Congrats again, I hope to one day have a line that big, and I know with navy, it will happen!




Message 10 of 25
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