NFCU CLOC (Checking Line of Credit) Question

MrCredit · ‎08-20-2014

I have been a member of NFCU since May. Have an $11k Cashrewards and in the process of switching banking. Anyway I called today to inquire about the CLOC and the woman said they only pull a bureau every 30 days! That explains why they did not pull one with my car loan.

Should I go for the $15k on the CLOC will they counter? What has been the experiences of some people on this? Do they like some banking history first?

dursty87 · ‎08-20-2014

If you apply for the CLOC ask for the full 15k and they will counter if they aren't comfortable giving you the full amount. And Navy is HP happy they usually pull for every product you apply for.

dursty87 · ‎08-20-2014

Adding - I applied for their CLOC before I even funded my savings account and was approved. So I don't think banking history plays much of a factor.

Creditaddict · ‎08-20-2014

that would be amazing info if this lady was correct because that would be a complete change to how Navy has done business in the past (moving to 1 pull per 30 days!)

Apply for full $15k

Anonymous · ‎08-20-2014

Go for the gold! App... Let us know the results.

MrCredit · ‎08-20-2014

I probably will go ahead and apply for the full amount.

She did say one pull per 30 days and I can attest that my car loan did not take a HP. One thing she did say is too many applications at the beginning of membership can trigger BSA security review. Thats what gets a lot of people in trouble when they join they app for everything instead of waiting a bit.

Creditaddict · ‎08-20-2014

@MrCredit wrote:
I probably will go ahead and apply for the full amount.

She did say one pull per 30 days and I can attest that my car loan did not take a HP. One thing she did say is too many applications at the beginning of membership can trigger BSA security review. Thats what gets a lot of people in trouble when they join they app for everything instead of waiting a bit.

I think credit card, loc, and auto are the common 3... i think the security issues comes from 2 credit card apps, loc, auto refi, new auto, like 4+ and not so great credit.