USAA & NFCU!!! Please Help!

[Anonymous]

These two cards are very much so on my radar! My question is what was everyone's credit file when they were approved for these? Credit scores, utilization levels, inquiries, late payments, collections? I REALLY want them both, but don't think my credit file is strong enough yet.

My credit file: 530, 524, 564

Revolving: 2 First Premiers cards - $300 limits each, 3 store charge cards - $400, $300, $500 respectively, never late on ANY...

Installment: personal loan $1500/$1800 - never late, auto loan $0/$9733 - 3 30day lates and 2 60day lates, student loan $0/$1400 - never late

Collections: 3 total left, $279 - 2008, $75 - 2006, $307 - 2010

Please Advise!

Thanks!

[Dustink]

I think you need to build up your credit and let the baddies fall off. It will be awhile before you are able to get good prime accounts like usaa and nfcu.

I would recommend that you ditch the first premier cards if they are charging you fees. It would be better to instead get good secured cards with high limits.

Do what you can about the baddies on your report. Either find ways to get them off by checking the rebuilding section of this forum. Or just wait for time to do its work.

When your scores are in the 700 range, and you have good long history with high limit cards. Then it will be time to start looking at prime accounts.

[Anonymous]

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@Dustink wrote:

I think you need to build up your credit and let the baddies fall off. It will be awhile before you are able to get good prime accounts like usaa and nfcu.

I would recommend that you ditch the first premier cards if they are charging you fees. It would be better to instead get good secured cards with high limits.

Do what you can about the baddies on your report. Either find ways to get them off by checking the rebuilding section of this forum. Or just wait for time to do its work.

When your scores are in the 700 range, and you have good long history with high limit cards. Then it will be time to start looking at prime accounts.

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+1

[sbeasl11]

If you are a "full member", you may be offered a secured mastercard through USAA. DH has 3 open collections & when he applied for their credit card, he was denied, but offered a secured card instead. We jumped on it because we had to get a positive tradeline reporting. His scores were similar to yours. We are both going to be eligible to join NFCU in Jan., so we can't wait. Good luck!

[Duncanrr]

https://www.navyfederal.org/products-services/cards/creditcards/nrewards-secured.php

NFCU also has a secured card (see link above).

[Anonymous]

Thanks thanks! Exactly the kind of info I needed...

But more specifically, is there anyone who has had any approvals with credit scores in the low 600s or possibly even high 500s. My scores are accurate today but will not be in a few days because I paid off my FP cc balances. Forgot to do so last month and scores plummeted to where they are currently from 590, 587, and 611 respectively. Am very certain they will rise again.

[Duncanrr]

I got approved for Secured Cards from WF and Cap1 when my scores were around 550ish.  NFCU is known to be forgiving so I wouldnt think you would have too much problems with them.  Their CSR also have a good rep, you could call them and ask.

[bbb3601]

I wouldn't app at Navy until you are 620+ at that number you would probably see 2-3k starting. 

[Anonymous]

Thanks! That's the more specific info I needed confirming. I know all my scores with be back in the 600 range give or take 10-15 pts. But I will desperately continue working to get the last few baddies removed: 3 collections, and 5 late payments. More specifically 1 of the collections that is showing to be most recent of 2010. And the three late payments from this year GWd since that auto loan is now paid off.

That should be enough to get me above 620, then I will app for these. Was not necessarily looking for a super high CL though. Just wanted to get in the door with them. Would you both still think I wouldn't get approved for even $1k?

[bbb3601]

It's honestly a YMMV with any application for credit.  Where did you get your scores, and which score is which?  They pulled EQ for me. I know why you want in with them as I felt the same way. I waited a few extra months and I am glad I did. I was 660's I believe, and to be honest my uti was up at the time, but it didn't phase them.   Who are you small collections with?