NFCU NAVchek

[Anonymous]

I'm interested in applying for NFCU's NAVchek however, my concern is if they will verify my income being that I was recently laid off due to the economy.

Haven't pulled scores since June 08, but I was in the low 600's across the board.

Also, I was just denied for a nRewards Visa card with them so does anyone know if I stand a chance or should I quit while I'm ahead???

[Anonymous]

If they denied the Visa, chances are good they will deny the loc too.

Chances are even better they will ask for income docs as well if you were to apply. And how do you think it will look when you enter no employment information?

Sorry for your lay off. Times are rough right now.

[USC08]

What is a NAVchek?

[Anonymous]

You can use it as OD protection on your checking account with them, or as a personal line of credit.

NAVchek® Line of Credit
Write yourself an instant loan or get automatic overdraft protection for your checking account and Visa® Check Card with a NAVchek® Line of Credit.

Fast: Write yourself a loan up to your credit limit, which can be from $500 to $15,000, in $500 increments.

Inexpensive: Low interest rate; monthly payments as low as 2% of the principal loan balance or $20, whichever is greater.

Convenient: Flexible repayment rates and terms. In addition to using online account access, you can pay through any of the methods named at right.

[recoverychick]

Yes.  You have to have a banking history with them not to request pay stubs.  However, they only ask for your most recent 2.

[FretlessMayhem]

Unfortunately I'll confirm that NFCU did insist on calling and confirming my employment before opening my NAVCheck.

[sunnie_321]

I got approved for a NAV check loc for $4,500 and denied for a visa. They did not call to verify income or employment.  My EQ was 563 when I applied. 

[cobra19]

ts.....pull your FICO EQ score. You should know what it is before you apply for anything. IMO, if your EQ is < 630 or so, I'd wait. Yes, there are instances of applicants being approved with scores < 630, but if NFCU will be unable to verify your employment, I'd wait.