To be fair, Navy isn’t likely to include their own card statements in their utilization calculations but rather overall utilization vs payments. Obviously we don’t know this for sure but that would be the best way to get the most accurate picture for how a customer does with their credit accounts is to look at utilization vs payments instead of statement utilization.
Navy seems to care about DTI more than anything else. Sky is the limit as long as your DTI supports it with them. Just look at me - they’ve extended me an insane amount of credit for my income but my DTI is insanely low as well and I’ve demonstrated my ability to make large purchases for my income and turn around and make just as large payments.
Yes, DTI is apparently huge. I correct and clarify what NFCU wrote on their approval sheet. The exact verbiage on my approval sheet explaining my NFCU "score" reads: "Payments on revolving accounts over last 12 months". In my case, I had no other revolving accounts aside from my nRewards card aside from a new Discover. I imagine as time goes by, the Discover card and the new AFCU card and the Flagship will be counted in that calculation. I suppose the question is, do they mean how large were your payments or if it is referring to paying in full, or both. Whatever is the case, they obviously found that my 597 TU FICO to be enough along with my 291 internal score.
The bottom line is that I am not expecting much in the way of any prime cards for a year or two but if I can keep my NFCU score rising, I should be in very nice shape when all derogs fall off my reports.
@Anonymous wrote:
@spiritcraft1 wrote:
@Anonymous wrote:
@UpperNwGuy wrote:Why all this rush to have your cards report? They all report sooner or later. How is your life improved if they report in the first month?
Because OP doesn’t want a balance to get reported when going for the SUB.
Exactly. Not that it would matter long term but still. When practicing the AZERO, actually just recently finally able to do so, the last thing I want is a 3k balance reporting. Also, NFCU's internal score seems to look at the last few months UTI trend (according to their comments). UTI rising will not result in a higher NFCU score I imagine.
Right now, I care more about the NFCU internal score as Navy CLI's will be much more important than adding any non NFCU card within the next couple years.
To be fair, Navy isn’t likely to include their own card statements in their utilization calculations but rather overall utilization vs payments. Obviously we don’t know this for sure but that would be the best way to get the most accurate picture for how a customer does with their credit accounts is to look at utilization vs payments instead of statement utilization.
Navy seems to care about DTI more than anything else. Sky is the limit as long as your DTI supports it with them. Just look at me - they’ve extended me an insane amount of credit for my income but my DTI is insanely low as well and I’ve demonstrated my ability to make large purchases for my income and turn around and make just as large payments.
None of this makes sense to me. What is the objective, and how does this behavior achieve the objective?
Wow. I never thought this would become an argument. I don't have to explain myself, but I will anyway.
I have somewhat unique circumstances that require me, in my mind, to keep NFCU very happy with paying big monthly balances to zero every month. Over the next two years my FICO's are not going to rise very high but will skyrocket in say March of 2021 as ALL of my many derogs suddenly fall off. Until then, I really don't see chasing more than perhaps one additional card but will let these new accounts age and cultivate my history with NFCU specifically. I want that history to be spotless and to look, in their eyes, like the best customer they have ever had. I have a plan and have been very patient and strategic about rebuilding... repair starts in March as ALL derogs go past SOL.
Fact #2: NFCU has been our Business bank since late 2015.
As to Despite paying off these balances as soon as they post, the possibility would remain that a large balance reported if NFCU did mid cycle reporting. Timing and luck would come into the picture, but if NFCU doen't generally do a mid cycly report, then I am fine. For such a generic question, I sure opened up a can of worms!