Navy Federal MoreRewards AMEX

[DonMakeItPossible]

This is my NFCU journey thus far. (3week member)

1. Opened a checking/savings account(not flagship)deposited 250$ into checking.

2. Opened a Shared/Pledge loan about 2 days later after transferring 250 from checking to savings, waited 2 more days and paid 80%).

3. About 3 days later Deposited 2500$ into checking then transferred to savings.

4. Withdrew the entire 2500$ following week.

5. Deposited 2700$ back in like 2 days later.

6. Day after opened a easy start 50$ CD.

7. Following week, I transferred 2500 into savings account and left the rest in the checking account.

8. Day after I did a pre approval, and was pre approved for every single card.

(Prior to all of this, I did a pre approval application about a week into membership, and was only approved for the Nrewards, i also applied for a 15k car loan cause I was car shopping at the time, Denied)due to a Derogatory item on credit profile due to a 6yo repo.

I dont have the best credit 640TU, 638 EXP, 595EQU. I applied for the NFCU More Rewards AMEX card after pre approveal and got approved right then and there 7,000 CL. 
I HAVE NO DIRECT DEPOSIT SET UP. 
I used the debit card for like 3 purchases total while having money in the checking account.

[MissLiz]

That's amazing! Congratulations!

[DonMakeItPossible]

Thank you, I watched other people online post different journeys, and gave my own experience a shot. Hope this example can help others as well.

[MissLiz]

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@DonMakeItPossible wrote:

Thank you, I watched other people online post different journeys, and gave my own experience a shot. Hope this example can help others as well.

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I'm sure the DP's will be helpful for other members!

[Horseshoez]

Congratulations on the approval @DonMakeItPossible.  

My More Rewards journey was a bit different:

• Dec 2023: Opened up a Membership Share Savings account with $50
• Feb 2024: Initiated a bi-weekly $500 direct deposit into the above account
• Mar 2024: Opened an EasyStart CD with $1,000
• Apr 2024: Maxed out the EasyStart CD at $3000
• May 2024: Applied for More Rewards; approved with a $30,000 starting limit

[DonMakeItPossible]

Nice!

[AverageJoesCredit]

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@Horseshoez wrote:

Congratulations on the approval @DonMakeItPossible.  

My More Rewards journey was a bit different:

• Dec 2023: Opened up a Membership Share Savings account with $50
• Feb 2024: Initiated a bi-weekly $500 direct deposit into the above account
• Mar 2024: Opened an EasyStart CD with $1,000
• Apr 2024: Maxed out the EasyStart CD at $3000
• May 2024: Applied for More Rewards; approved with a $30,000 starting limit

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Lol mine was much different.  Applied for membership,  was eligible after they made all veterans eligible,  applied for a cc right after and was rewarded with a $500 CR. 7 years later no deposits, ssl loans, cds, etc, achieved 80k simply by being persistent and blessed lol

[Anonymous]

I think the range of experiences just reinforces that there is no magic formula.   It's pretty standard for us to think, in many situations, I did this and this and this and it (perhaps finally) worked so those were the essential ingredients.   Maybe one was, maybe not, especially when you see that other people succeeded without (and in other cases people doing the same thing failed).

[CookieMonster1]

Nicely done! Congratulations on your NavyFed Amex! 🤩🎉🎉

[JoeRockhead]

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@Anonymous wrote:

I think the range of experiences just reinforces that there is no magic formula.   It's pretty standard for us to think, in many situations, I did this and this and this and it (perhaps finally) worked so those were the essential ingredients.   Maybe one was, maybe not, especially when you see that other people succeeded without (and in other cases people doing the same thing failed).

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This is very true (and not just where NFCU is concerned). My experience with Navy has been very similar to that of @AverageJoesCredit. No DD, little in account balances, no CDs etc... Yet I've never been turned away for any credit card, CLIs or other loans I've applied for. I'm sure doing all these things are beneficial for your internal score, and may very well yield higher starting limits on their cards such as @Horseshoez experienced, but... they're always going to look beyond your internal scores for approvals. Take care of your credit (overall), and good things will come either way.