Hello Credit Community,
Today I joined the NFCU club! Rip to my Grandpa who served in the Korean War! 🙏
-- The process was quite fast. I opened a checking/savings account with them. Everything done over the phone in about 10 minutes. From start of application online.
I used their prequalifier tool for credit cards, and it said I was qualified for all, including the signature card... I hear signature lines start at $5,000!? Phewww.
Here's a rundown of my current credit profile:
**Recently posted this on a previous thread this week**
- Capital One Journey $0/$500 CL
- Capital One Platinum $0/$300 CL
- Petal Card $0/$750
- Amazon Store Card $0/$600
- Discover Card $2,375/$2,500 @0% APR 14 Months
*My Total Credit across the board is $4,650.
*My credit utilization is roughly 51%.
*My current FICO is 651 on experian/discover app, 636 TU/635 EQ Vantage score.
*I paid 198/500 cap1 & 293/750 petal card the end of last month. My scores haven't updated those payments yet.
*Average Credit Age: 8 Months
*Youngest Account: 7/7 months
*Oldest Accounts: 11m, 11m, 1 yr 3m
*Hard Inquiries: 4
*Collections: 0
*Payment History: Perfect
In the other thread I posted, I was suggested to garden for 8-12 months. This was prior to me being approved for NFCU and now prequalified for all their cards. I want to open a card with them to get the relationship kicking. I understand it'll take longer for my youngest account and average credit to hit 1 year. But I hear NFCU cards are very much worth the investment. And some people get monstrous lines for the first time in their CRs!
What advice do you have guys?
Thanks for reading!
@TheGameofCredit_, Congrats on your membership and welcome to the Navy family
I suggest not applying for The Flagship as your first NFCU card.
1) No current sign up bonus
2) Navy does not always grant $5K on the first card. (2nd or 3rd card is fine)
If you do not meet the $5K requirement, you will be denied.
3) You are brand new to NFCU.
Don't go by the pre-qualifier, it is not that accurate.
I would apply for The CashRewards or The MoreRewards
(keep in mind the MoreRewards runs on the American Express network)
The MoreRewards has a little better sign up bonus than the CashRewards.
Look at the cards and see which one fits your spend and goals the best.
Also some good reading material here; ..
(you don't have to start at the first post, also a good place to ask questions)
My answer doesn't consider the game, and I will let others chime in for that. This is strictly a "What would I do in your shoes?" answer. With 51% utilization and a young credit history, I would probably hold off, wait until the Discover is paid down at least less than 9% utilization. This should help increase your score, and therefore would help you get a better rate on an NFCU card.
I did have a question, my grandfather was a Navy Vetern as well (Pearl Harbor Survivor who had a long career in the Navy spanning three wars), he passed away in 2005. I don't have a copy of his DD-214, what documentation did they need to grant you membership based on his service? Their Mortgage rates are incredibly low, so I am considering membership if I can get the paperwork together.
@M_Smart007 wrote:@TheGameofCredit_, Congrats on your membership and welcome to the Navy family
I suggest not applying for The Flagship as your first NFCU card.
1) No current sign up bonus
2) Navy does not always grant $5K on the first card. (2nd or 3rd card is fine)
If you do not meet the $5K requirement, you will be denied.
3) You are brand new to NFCU.
Don't go by the pre-qualifier, it is not that accurate.
I would apply for The CashRewards or The MoreRewards
(keep in mind the MoreRewards runs on the American Express network)
The MoreRewards has a little better sign up bonus than the CashRewards.
Look at the cards and see which one fits your spend and goals the best.
Also some good reading material here; ..
(you don't have to start at the first post, also a good place to ask questions)
+1 😎
@sxa001, Call NFCU and speak to them! they are open 24/7 365 days a year.
My Dad had passed away 20 years ago, I had nothing. They took all my info,
I stated what branch He served "Air Force", what years He served, where He was stationed and some "other" info,
They took my application over the phone and approved me for membership May 2019.
You may only have to provide a DD-214 if they ask.
Outstanding Customer Service!!!
Thank you for the information, I don't have all the information about where he was stationed. My dad passed away in 2010, and his sister passed away in 2001. I do have another Aunt (Dad's half sister) who I barely know and don't necessarily feel comfortable reaching out just to try to snag good interest rates.
He is buried in The Central Texas State Veterns Cemetry, and there are records from the 1940's (US Navy Muster Lists). Ultimately I guess I could try for membership, play dumb and call them up and see what happens. Worst case they say "we can't do anything for you". It would be a good banking relationship to have.
Don't go by the "pre-qualified" thing. I, too, was "pre-qualified" for all cards...and I KNOW that's not the case being my util is around yours and I have several derogs. The only things I have going for me are 3 positive TLs, decent credit history (7 years), and pretty good income. I don't believe that I could get *any* of their cards. Maybe a cash rewards or a secured, but for sure not a flagship.
I would not apply for Flagship as your first card.
GL!
@TheGameofCredit_ wrote:Hello Credit Community,
Today I joined the NFCU club! Rip to my Grandpa who served in the Korean War! 🙏
-- The process was quite fast. I opened a checking/savings account with them. Everything done over the phone in about 10 minutes. From start of application online.
I used their prequalifier tool for credit cards, and it said I was qualified for all, including the signature card... I hear signature lines start at $5,000!? Phewww.
Here's a rundown of my current credit profile:
**Recently posted this on a previous thread this week**
- Capital One Journey $0/$500 CL
- Capital One Platinum $0/$300 CL
- Petal Card $0/$750
- Amazon Store Card $0/$600
- Discover Card $2,375/$2,500 @0% APR 14 Months
*My Total Credit across the board is $4,650.
*My credit utilization is roughly 51%.
*My current FICO is 651 on experian/discover app, 636 TU/635 EQ Vantage score.
*I paid 198/500 cap1 & 293/750 petal card the end of last month. My scores haven't updated those payments yet.*Average Credit Age: 8 Months
*Youngest Account: 7/7 months*Oldest Accounts: 11m, 11m, 1 yr 3m
*Hard Inquiries: 4
*Collections: 0
*Payment History: Perfect
In the other thread I posted, I was suggested to garden for 8-12 months. This was prior to me being approved for NFCU and now prequalified for all their cards. I want to open a card with them to get the relationship kicking. I understand it'll take longer for my youngest account and average credit to hit 1 year. But I hear NFCU cards are very much worth the investment. And some people get monstrous lines for the first time in their CRs!
What advice do you have guys?
Thanks for reading!
1. If your application is approved, your first credit limit is not likely to be large at all.
2. IMHO you should wait to apply at least until you get that Discover balance down to $700 (Your FICO score is oblivious to the fact that it's a 0% interest rate).
3. When you do apply your first application should be for the Platinum card or the Cash Rewards card, whichever is more up your alley.
@sxa001 wrote:My answer doesn't consider the game, and I will let others chime in for that. This is strictly a "What would I do in your shoes?" answer. With 51% utilization and a young credit history, I would probably hold off, wait until the Discover is paid down at least less than 9% utilization. This should help increase your score, and therefore would help you get a better rate on an NFCU card.
I did have a question, my grandfather was a Navy Vetern as well (Pearl Harbor Survivor who had a long career in the Navy spanning three wars), he passed away in 2005. I don't have a copy of his DD-214, what documentation did they need to grant you membership based on his service? Their Mortgage rates are incredibly low, so I am considering membership if I can get the paperwork together.
From what I've seen they haven't been asking for documentation.