NFCU

[Anonymous]

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@Tazman81 wrote:

For example, if you had the starter card for 3 years, and you get an NFCU card today and then close the starter card, you have just closed 3 years of your credit history.  

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That is incorrect.  The closed account will still continue to contribute to the average age of accounts for the full reporting duration.

[bostonte]

One of the data points most larger lenders use is average age of OPEN accounts.

Where this falls on the importance scale compared to other factors (including just plain average age of accounts) depends on the the issuer and the product -- but it *does* matter to most.

[MarineVietVet]

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@Tazman81 wrote:

NFCU is a pretty good bank.  Just be careful not to fall behind on your payments as they will freeze your account.  Also know that when you get a credit card with them, you sign an agreement that if you default on the credit card, they can take funds from any deposit accounts that you have with them in order to satisfy that default.  If you get an auto loan with them and default on your credit card, they will continue to hold the title to your vehicle as collateral until the credit card is paid off, even if you pay the auto loan in full.  That is the type of agreement you enter in.

And of course I know no one is planning on defaulting, so with that said, NFCU is an awesome credit union to be with.  I have nothing but good things to say about them.  Also, do not be so quick to close out your other credit cards (unless they have an outrageous annual fee).  Reason being is when you close out credit cards, it closes out that part of your credit history.  For example, if you had the starter card for 3 years, and you get an NFCU card today and then close the starter card, you have just closed 3 years of your credit history.  So, you may want to wait to close the card until you get some history with NFCU's credit card.

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A closed account in good standing will continue to report for up to 10 years; in some cases even longer. Here is a very good thread about Closing Credit Cards.

From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
6/10 TU -772

You can do the same thing with hard work

Credit Scoring 101
Common Abbreviations
Frequently Requested Threads
Whats In Your FICO Score

[BungalowMo]

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@MsKiwi wrote:

Darn it,  the offer isn't there anymore. I should have apped earlier. LOL Oh well.

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Mine is gone too!  That's ok...I'm not ready to app just yet anyway.

[MsKiwi]

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@BungalowMo wrote:

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@MsKiwi wrote:

Darn it,  the offer isn't there anymore. I should have apped earlier. LOL Oh well.

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Mine is gone too!  That's ok...I'm not ready to app just yet anyway.

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The backstards! Just kidding. I'm in no rush and I know that they'll love me again soon.  I have the credit I need even if it isn't a ton of credit. I just want to trim some cards for a few better cards. It'll happen for both of us!

[BungalowMo]

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@MsKiwi wrote:

The backstards! Just kidding. I'm in no rush and I know that they'll love me again soon.  I have the credit I need even if it isn't a ton of credit. I just want to trim some cards for a few better cards. It'll happen for both of us!

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hehehe....yeah...we'll get some more NFCU love soon enough! 

[Anonymous]

Hey guys,  I've noticed that these offers come and go.  What I mean to say is they appear and disappear for no reason i can think of.

Let me know if I'm wrong.

[MsKiwi]

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@Anonymous wrote:

Hey guys,  I've noticed that these offers come and go.  What I mean to say is they appear and disappear for no reason i can think of.

Let me know if I'm wrong.

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I have no idea. This was my 1st offer ever from them..................... I know they want me. (striking a pose)

[Anonymous]

Yea, i see it there sometimes.  Then it disappears.  Then it's back again.

[BungalowMo]

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@Anonymous wrote:

Yea, i see it there sometimes.  Then it disappears.  Then it's back again.

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Mine came back today!  This time the offer is:

Get a 5.99% Fixed Intro APR* for 12 months on balances transferred to a new Navy Federal credit card. After that, the rate will change to your standard APR. Standard rates range between 7.99% APR and 18% APR, are variable and are based on an evaluation of credit history.

Get started by clicking below to view our various credit cards.

I'm guessing once my EQ FICO gets a bit higher, that BT rate will me MUCH less!  Right now I'm 701, but any apps will still have to wait until after my attempt to refi.  Gotta stick to my game plan!