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@plasticman wrote:
I failed to mention, the CSR told me NFCU was experiencing new members opening unsecured CCs and then immediately taking large cash advances. NFCU was not even receiving the first payment. Somewhat same type situation with other unsecured cash loan products.
So some people rebuilding are not doing it for honest reasons and are muckin up for those of us who are trying. Loverly, btw the way ,coffee and cream and all it's cracked up to be when you want a crown & 7 . LOL
@Anonymous wrote:
Is can see that happening but a direct deposit of $100 per month is not going to fix that if I take the cash advance as soon as I get the card.
I agree..perhaps NFCU will consider the direct deposit amount along with EQ score/credit profile when making an unsecured CL decision. I dunno...I can only speculate based on the information I obtained today. It will be interesting to hear other new NFCU members experience going forward and the information obtained for unsecured cash products thereto.
@hemi961 wrote:
My son joined 2 weeks ago and applied for the cash rewards visa at the same time. He was instantly approved with a $15,000 limit.
Hi hemi961,
This is great information. Just the type of information the members need. The newer the actual experiences of members here the better. IMO
It seems to me this policy is "evolving" with NFCU. What the final actual policy will end up "evolving" to is yet to be seen. IMHO
ETA: I presume your son was not required to have direct deposit set up. Is he currently in the military? Do you have an established account with NFCU?
If I had new business to conduct with NFCU I would go ahead and do it until we hear of a few more new members being turned away. Could be that the branch people in Temecula have enough spare time on their hands that they actually read all the procedural emails that are sent out. Those in the credit granting department may be too busy to do so!
If this does turn out to be widely applicable NFCU would be more conservative for new members that PenFed is.
@creditwherecreditisdue wrote:If I had new business to conduct with NFCU I would go ahead and do it until we hear of a few more new members being turned away. Could be that the branch people in Temecula have enough spare time on their hands that they actually read all the procedural emails that are sent out. Those in the credit granting department may be too busy to do so!
If this does turn out to be widely applicable NFCU would be more conservative for new members that PenFed is.
+1
Although I spoke today directly with a CSR in Virginia, I have been told different things (on other subjects) by different NFCU CSRs in Virginia on several occasions, I agree completely with CWCID.
edited in an attempt at clarity
@creditwherecreditisdue wrote:If I had new business to conduct with NFCU I would go ahead and do it until we hear of a few more new members being turned away. Could be that the branch people in Temecula have enough spare time on their hands that they actually read all the procedural emails that are sent out. Those in the credit granting department may be too busy to do so!
If this does turn out to be widely applicable NFCU would be more conservative for new members that PenFed is.
+1
I had just signed up last week to get an account established with them so I could build a relationship before looking for my first mortgage. After reading this thread, I went ahead and pulled the trigger on a Platinum Visa App even though I intended to wait until after I got direct deposit set up and my scores over 700.... But I am impatient.
@$14k @ 12.9%
Not a great interest rate, but also not too bad for someone with a 687EQ and a BK7 from '04!
New fan of NFCU, and hopefully PenFed and Alliant will soft me and see the new highest CL and try to compete!