NFCU Amex Master thread. All posts go here

[Caldric]

Ok thanks just curious.

[sto0pyd]

I think this is the card that Navy FCU finally got "smart" by perhaps changing the algorithm they've been using to assign limits.  I think we can all agree that they've been too generous which may have increased their losses. I'm just a little worried that this may have also changed the 91- day rule, thus not qualifying for a higher limit due to maximum exposure. I applied on 9/6 and went under review. I didn't receive any word on 9/7 so I called on 9/8 to check status. The representative asked that I send over income verification, in my case, 2 most recent stubs. I thought it was a little weird since the bulk of my pay is routed over via direct deposit. I sent stubs over on 9/8 (morning), got a text message on 9/11 saying I've been approved. I called shortly after to get the terms since the information wasn't available online... the end result, I was approved with a limit of $3,800. I was a little bummed, but the new limit will be OK since I only plan on using the card for groceries which will replace my Blue Cash AMEX  card. Getting the 3rd card with NFCU is definitely harder... in my case, it took 6 days for them to approve me.

- Equifax FICO 9 @ 691 (they pulled Transunion for this app, don't know what my score is)

- 2% utilization, with total limit of $280k

- 8 new accounts within the past 12 months

- have 22k Flagship, 22k GO Rewards, and 15k CLOC with NFCU (all accounts are PIF)

- member since 2000

- 6 inquiries within the past 6 months

[kugel]

Definitely something changed big time !

[steelers1]

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@sto0pyd wrote:

I think this is the card that Navy FCU finally got "smart" by perhaps changing the algorithm they've been using to assign limits.  I think we can all agree that they've been too generous which may have increased their losses. I'm just a little worried that this may have also changed the 91- day rule, thus not qualifying for a higher limit due to maximum exposure. I applied on 9/6 and went under review. I didn't receive any word on 9/7 so I called on 9/8 to check status. The representative asked that I send over income verification, in my case, 2 most recent stubs. I thought it was a little weird since the bulk of my pay is routed over via direct deposit. I sent stubs over on 9/8 (morning), got a text message on 9/11 saying I've been approved. I called shortly after to get the terms since the information wasn't available online... the end result, I was approved with a limit of $3,800. I was a little bummed, but the new limit will be OK since I only plan on using the card for groceries which will replace my Blue Cash AMEX  card. Getting the 3rd card with NFCU is definitely harder... in my case, it took 6 days for them to approve me.

@- Equifax FICO 9 @ 691 (they pulled Transunion for this app, don't know what my score is)

- 2% utilization, with total limit of $280k

- 8 new accounts within the past 12 months

- have 22k Flagship, 22k GO Rewards, and 15k CLOC with NFCU (all accounts are PIF)

- member since 2000

- 6 inquiries within the past 6 months

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Congrats on your 3rd. NFCU card!

IMHO I don't think much has changed in their underwriting for cards.

Most approvals / declines that we have seen has been for a 2nd or 3rd card.

NFCU is notoriuos for low STARTING CL on a 2nd card let alone a 3rd.

You have listed 4 Navy unsecured products I would consider that very generous.

They are the largest CU in the world with a whole heap of profits to keep them rolling.

[Anonymous]

Seems like they cannibalized their other rewards card since the Amex is 3x on gas and the other rewards card is 2x.

I don't have a navy card even though I'm a member. Their credit cards just seem a bit weak. my wife has the platinum though.

[FatChihuahua]

I applied for membership in NFCU yesterday and, at the same time, applied for the Amex.  I was approved instantly with a SL of $4600.  Today I sent a secure message to see if I could get the SL increased slightly, but no dice.  I wanted this card for two reasons: (1) to establish a credit history with Navy in case I want to refinance my car with them in 6 months or so, and (2) to establish some kind of history with Amex.   I'd like to apply for an Amex product in a year and don't want to get stuck with a small limit that might not grow.  Please correct me if co-branded cards aren't useful for establishing history with the branding partner.   Not knowing anything about credit,  I didn't use credit cards for the past 7-8 years (thinking that would make my somehow support my creditworthiness - nope).  So I'm just getting back into the credit game over the last few months.

[CreditCuriosity]

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@FatChihuahua wrote:

I applied for membership in NFCU yesterday and, at the same time, applied for the Amex.  I was approved instantly with a SL of $4600.  Today I sent a secure message to see if I could get the SL increased slightly, but no dice.  I wanted this card for two reasons: (1) to establish a credit history with Navy in case I want to refinance my car with them in 6 months or so, and (2) to establish some kind of history with Amex.   I'd like to apply for an Amex product in a year and don't want to get stuck with a small limit that might not grow.  Please correct me if co-branded cards aren't useful for establishing history with the branding partner.   Not knowing anything about credit,  I didn't use credit cards for the past 7-8 years (thinking that would make my somehow support my creditworthiness - nope).  So I'm just getting back into the credit game over the last few months.

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See bolded.. you aren't building a history with Centurion Bank AKA real American Expresss.  This just runs on their network, but isn't underwritten by Amex, but by NFCU.

Not sure what you scores are, but as long as you haven't burnt Amex and are in the Experian Range of 660ish+ you can get your own Amex if you so choose as long as your profile is decent.

[FatChihuahua]

Thanks for that information, CreditCuriousity. I didn't know that (yikes)! I'm actually prequalified on Amex and Chase sites, but I've read that you can get bucketed into some version of a credit steps program with each, so I'm waiting a year to apply directly with those lenders. My Fico 8 scores are not good - currently Ex 671 Tu 682 Eq 678. AAoA is 10 years, and income is $71,500. My utilization is 1-2%, and I always PIF. Hoping the scores increase within a years time.
Is there any advantage to having a card co-branded with Amex (other than concert tickets)? Thanks to all who provide info here!

[CreditCuriosity]

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@FatChihuahua wrote:
Thanks for that information, CreditCuriousity. I didn't know that (yikes)! I'm actually prequalified on Amex and Chase sites, but I've read that you can get bucketed into some version of a credit steps program with each, so I'm waiting a year to apply directly with those lenders. My Fico 8 scores are not good - currently Ex 671 Tu 682 Eq 678. AAoA is 10 years, and income is $71,500. My utilization is 1-2%, and I always PIF. Hoping the scores increase within a years time.
Is there any advantage to having a card co-branded with Amex (other than concert tickets)? Thanks to all who provide info here!

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Not really any advantages other then some possible Amex offers I believe although never had a non centurion based Amex, others might be able to answer this better.

What Chase cards are you pre-qualified for?  You might want to consider picking up one of those due to 5x24 rule chase has if there is one out there you really want and are pre-qualified for it as their offers are solid and list the APR's under the offers.  If you are good at gardening you have nothinng to worry about with Chase, if you are going to have more than 5 carsd in the next 2 years and could utilize the Chase card now I would grab it.

[DEcreditguy]

This thread is way too long to go through the whole thing, so I apologize if this has been asked, but....Might it be possible to PC from say, a Go Rewards to this new AMEX rewards card? I really wanted a Blue Cash Preferred, but I'm blackballed by AMEX. Really need a good supermarket rewards card and this would definitely hit the spot. I don't really have any need for the Go Rewards anymore as I've got other cards that beat it in just about every category. I would love this AMEX card though, simply to use at Safeway, Trader Joe's, etc.