I have to say that Navy Federal is a financial institution that I find way too scary to do business with. I see the crazy high limits posted for people with average income and low credit scores, along with some of the BK hits posted on them around here - and I wonder how they pass their Federal audits. I think they are at a high risk of insolvency, based on what I have seen. They need to tighten up a whole lot, and do some balance chasing on some folks. Just my thoughts.
How many times has NFCU declined you?
I have never applied for anything with NFCU, although I am a veteran and could easily.
I'm so glad i squeezed in when i did. I opened a $5. savings account, waited a few weeks then applied for Platinum. I GOT $18K! I'm Tickled! Told my Hubby, he applies and gets $24K!! Waiting for MY bump. Turns out I STILL have (3) 4-year old lates and a 3-year old baddie that has come back to haunt me that I now have my lawyer on! LOVE NFCU!
If you ask me to borrow money, i will only let you borrow a small amount until i get to know you, specially if you have a not so good record. If your record shows otherwise, i might let you borrow a bit more.
CLs are given based on your credit profile and internal scoring. I'm sure your friend will get nice CLIs if he/she shows responsability with the card
I'm not sure that's necessarily true. I've been with NFCU for less than a year, and I just opened a second card with them today and they gave me a 20K SL on instant approval. That's in addition to my other 2 lines in my info below. Data points below as well.
The positive thing about NFCU, even if they give you low SL, you can get good amount of CLI after 90 days as long as your reports look good like low utilization etc.
That's what I'm hoping for--I just got approved early this morning for $5K--I'm hoping I can at least get it up to $15K when I'm eligible for my first CLI.