I see a lot of questions / discussion about Navy Federal and wanted to post my experience for others with similar profiles. I just joined Navy Federal on Monday and applied for an unsecured card on Tuesday. I initially received the 3-5 day response and, just hoping it would help, faxed verification of employment/income (6 years / 60K) to a number I found on these forums. My expectation was to be denied and use my savings to open a $1000 secured line. On Wednesday I got a message that additional information was needed and I called into to verify identity by answering a few questions. This morning around 10AM I get a text that my card request was approved! I called and they gave me a $1500 credit line to start.
I have a score somewhere between 580 and 600 - at least according to multiple FAKO's. I have between 5 and 11 inquiries depending on the bureau pulled. I have two charge offs from 2006, two collections for those same credit lines, and a couple of small medical collections depending upon the report pulled. All are completely paid, but I've not had any luck getting them removed. I have an auto loan with 6 months of perfect payment history and a Cap One $700 secured with 6 months of perfect pay history. I was at 29% utilization when I apped with Navy.
I haven't posted in some time, but I read every day. I have been working hard on my credit since March of this year and it's a fantastic feeling to have an unsecured line. Mostly, I just wanted to say what a ton of folks have said before me. Navy Fed is awesome. They are very considerate. If they approved apps based on score alone, I wouldn't be approved. I truly believe somebody took the time to see that all of my old lines are paid and my new lines are in good shape. I would recommend NFCU to anyone that can find a way to open an account.
And thanks to everyone in this community that shares information daily. This site has been key in my credit journey so far.
Congrats on your approval! Loving NFCU!
Congrats! You should get a letter in the mail from NFCU stating your score and how it was used to determing your CC APR. It'll either be your EQ or TU FICO b/c those are the CRs they pull.
CONGRATULATIONS! Welcome the the NFCU Family!
Enjoy your new card! Congrats
Congrats to you! Navy Federal is an awesome credit union, and once you're in and you take care of them, they will take care of you. I've been a member since 2001 and I have to say, they are wonderful! They gave me my first credit card over $1300 and it's been great since.
Congratulations! I am waiting for identificaton verification and my next step is to apply. I have heard nothing but positives about them. CONGRATULATIONS!!!!
Following up to add additional info. I was approved on 8/30 and got my card on 9/7. Pretty quick turnaround. Additionally, I received my credit notification letter today. They pulled Transunion and my score was 618.