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Another NFCU question

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scarzy
Regular Contributor

Re: Another NFCU question


@Scupra wrote:

@scarzy wrote:

My score was around 602 with a recent bk7. I've seen people with scores in the upper 500s getting approved.

That is, if there's no bankruptcy reporting. If there is, then scores need to be at starting 600's.


At what point did you app for and get the LOC through NFCU? Do you remember what your score was?


 

My score was the same...602 fico. I had applied a week later.

 

 

starting EQ FICO : 526 current EQ FICO : 640 starting TU FICO: 538 current TU FICO : 656

My wallet: Capital One cash rewards $1,300- ~ NFCU signature cash rewards $5,000- ~ NFCU nRewards $5,000- ~ NFCU LOC $1,000- ~ Target $200- ~ Kohl's $300- ~ Walmart $800- ~ Amazon $900- ~ Updated 6/2013

Discharged Ch7 Nov.16, 2012

Message 11 of 19
scarzy
Regular Contributor

Re: Another NFCU question


@jdirilo wrote:
I have a ch 7 discharged reporting from 09, and had quite a few collections reporting when I was approved for nrewards $500 limit. I think my score was high 500s

Did you get yours right after your bankruptcy? Recent bankruptcies, imo, will have a harder time getting a card or a credit limit since I was denied a credit limit due to my bk7! They gave me card, but refused to upp my limit! Make no sense!!

starting EQ FICO : 526 current EQ FICO : 640 starting TU FICO: 538 current TU FICO : 656

My wallet: Capital One cash rewards $1,300- ~ NFCU signature cash rewards $5,000- ~ NFCU nRewards $5,000- ~ NFCU LOC $1,000- ~ Target $200- ~ Kohl's $300- ~ Walmart $800- ~ Amazon $900- ~ Updated 6/2013

Discharged Ch7 Nov.16, 2012

Message 12 of 19
starry1
Valued Contributor

Re: Another NFCU question

Maybe they just want to see how well you will do with a small limit first before they increase their exposure.  You did get those cards within a few weeks of discharge, right?


Starting Score: 11/29/12 TU 527; EQ 565; EX 564 fako - bk7 dc'd 2/15/13
Current Score: 1/22/15 TU 645; EQ 605; EX 633 New goal 675
Cap1 sec $1k (SD) / Fingerhut $2k / Flagship $12k / cashRewards $12k / NavChek $15k / Amazon $2k / Von Maur $1k / Firestone $2.2k / BCU $3k / NFL $1k / QS1 $750 / Target $400 / PPSC $800 / Conoco $700 (last app 09/29/14)
Message 13 of 19
jdirilo
Frequent Contributor

Re: Another NFCU question

No I got mine three years after bk.
Message 14 of 19
scarzy
Regular Contributor

Re: Another NFCU question


@starry1 wrote:

Maybe they just want to see how well you will do with a small limit first before they increase their exposure.  You did get those cards within a few weeks of discharge, right?


That's correct. Really, I can't complain.

starting EQ FICO : 526 current EQ FICO : 640 starting TU FICO: 538 current TU FICO : 656

My wallet: Capital One cash rewards $1,300- ~ NFCU signature cash rewards $5,000- ~ NFCU nRewards $5,000- ~ NFCU LOC $1,000- ~ Target $200- ~ Kohl's $300- ~ Walmart $800- ~ Amazon $900- ~ Updated 6/2013

Discharged Ch7 Nov.16, 2012

Message 15 of 19
Leadberry
Established Contributor

Re: Another NFCU question


@starry1 wrote:

Well the eventual goal is to have one MC and one Visa, one of which is a cashRewards and one nRewards.  Also a Navchek for the trifecta.

 

If you don't mind me asking, what was your score when you were first approved?


If noone else has mentioned this, NFCU has a "maximum exposure" that varies for each member.  I believe the hard limit is $50k for CC's.  This maximum exposure does not increase with number of cards.  If your current maximum is $15k, Navy will give you up to that amount spread over how many cards you have, e.g. one $15k card or two $7.5k cards.  Thus if you are chasing higher limits, it would make more sense to stick to one credit card with Navy.

   
FICO Scores 800+
Message 16 of 19
starry1
Valued Contributor

Re: Another NFCU question

Really?  Can that maximum exposure number ever increase?  Say my max number is $5k this year, can it increase to $20k a few years from now?


Starting Score: 11/29/12 TU 527; EQ 565; EX 564 fako - bk7 dc'd 2/15/13
Current Score: 1/22/15 TU 645; EQ 605; EX 633 New goal 675
Cap1 sec $1k (SD) / Fingerhut $2k / Flagship $12k / cashRewards $12k / NavChek $15k / Amazon $2k / Von Maur $1k / Firestone $2.2k / BCU $3k / NFL $1k / QS1 $750 / Target $400 / PPSC $800 / Conoco $700 (last app 09/29/14)
Message 17 of 19
Leadberry
Established Contributor

Re: Another NFCU question


@starry1 wrote:

Really?  Can that maximum exposure number ever increase?  Say my max number is $5k this year, can it increase to $20k a few years from now?


I would imagine it increases with income and creditworthiness until you reach the hard cap.

   
FICO Scores 800+
Message 18 of 19
missji
Regular Contributor

Re: Another NFCU question

That is VERY helpful info. Will they tell you your maximum exposure? I'm guessing not?
Gardening as of June 2020. No activity until January 2023 unless it's an auto CLI.
Starting Scores (6/30/2020): EQ 640 | EX 660 | TU 658
Current Scores (05/22/2021): EQ 678 | EX 714 | TU 689
Goal Score: 800


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Message 19 of 19
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