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NFCU

M_Smart007
Epic Contributor

Re: NFCU


@AverageJoesCredit wrote:
A heartbeatSmiley Wink

Message 11 of 22
Ms6Footer
Contributor

Re: NFCU

How do you get to find out your internal score? Am I missing it online when I sign on?
Message 12 of 22
M_Smart007
Epic Contributor

Re: NFCU


@Medic981 wrote:

@Svthhvn wrote:
My internal NFCU score is 264. Says rated btwn 100-400. Any idea what it needs to be to qualify for a CC?

Right from the horse's mouth! 

 

NFCU's 4 Secrets to Credit Card Application Approval

 


The secrets are really what they dont tell you.

 

This is not my info, but rather someone elses. And I believe this to be fairly accurate.

 

(some) Key factors affecting NFCU Internal credit score:


Utilization of bankcard credit lines in last 12 months
Limited credit experience
Ratio of accounts opened in last 24 months to all accounts
Number of balance decreases on non-mortgage accounts in last 3 months

 

I know they also use checking/savings deposits and debits history on your internal score.

Message 13 of 22
M_Smart007
Epic Contributor

Re: NFCU


@Ms6Footer wrote:
How do you get to find out your internal score? Am I missing it online when I sign on?

I believe you would only get that info in a denial for credit letter, From what I have seen others post.

Message 14 of 22
M_Smart007
Epic Contributor

Re: NFCU

 

Just some borrowed Info:

 

"NFCU uses its own credit scoring system rated from 100-450 from what I know they look at your utilization in the last 12 months, and ratio of accounts opened in the last 24 months to all accounts as big scoring points. They do not use fico scores. If you have been banking with them your credits vs debits also plays a big role thats why many people are able to get huge limits or get approved for cards even though they may have some bad history. Since you just opened your account with them you wont be getting the cards as easy as some others.

 

I have fico scores in the low 700s but their scoring system rated me 260 out of 450 I've been banking with them for 4 years and I was instantly approved for the cashRewards, goRewards, and moreRewards at less than 6 months of credit history.

 

How do I know this? They sent me a letter explaining it titled "understanding your credit score"

Message 15 of 22
Svthhvn
Contributor

Re: NFCU

So what about deposits with just the cucard through PayPal? I've considered moving my federal salary over through DD but I'm concerned about no close brick and mortar branch. And yes I got the internal score through a denial letter.
Message 16 of 22
M_Smart007
Epic Contributor

Re: NFCU


@Svthhvn wrote:
So what about deposits with just the cucard through PayPal? I've considered moving my federal salary over through DD but I'm concerned about no close brick and mortar branch. And yes I got the internal score through a denial letter.

I do not have a close brick and mortar Navy, I use Mobile check deposits via taking picture and depositing on phone APP.

($10,000 limit per day)

 

They also have No Fee co-op credit unions co-op ATM's "click here" that you can deposit through ATM's.

That's how I done my 1st check deposit. I think it was through Commonwealth credit union.

 

 

 

Message 17 of 22
Anonymous
Not applicable

Re: NFCU

NFCU doesn’t take your deposit relationship with them into account at all unless it’s a negative one. Credit card UW is completely separate from checking. Some people with the largest limits don’t keep any money with NFCU. 

Message 18 of 22
MaizeandBlue
Senior Contributor

Re: NFCU


@M_Smart007 wrote:

@Ms6Footer wrote:
How do you get to find out your internal score? Am I missing it online when I sign on?

I believe you would only get that info in a denial for credit letter, From what I have seen others post.


That's not entirely accurate.  Lenders are required by federal law to send a Risk Based Pricing Notice a.k.a. "Cost of Credit letter" when an applicant is approved for credit but not with the most favorable terms i.e. an APR greater than the best available rate.  So you can be approved for credit and still get a letter detailing your internal score.





Message 19 of 22
Shooting-For-800
Senior Contributor

Re: NFCU

Dont worry about score if you are a member.

Apply.

My internal was 333 and Fico was 745 and I got $1k SL.

91 days later my internal and Fico were lower and I got $20k SL on my 2nd card.

Rebuild started in 2014  -  $100k unsecured credit in 2017  -  $400k unsecured credit in 2021.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!

5% Rotating - Discover                         5%-20% - Amazon & Lowes                   3-6% Groceries - NFCU & Amex Preferred
3-5% Gas - NFCU & Ducks Unl            4% Dining & Entertain - Savor               3% Travel & Hotels - Flagship, Propel, & Uber
2% Everything - Flagship, Synchrony, Evergreen, & Venture



Message 20 of 22
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