@TRC_WA wrote:
@mfinsmi1 wrote:
Once you do all this, you should be good to go to apply. When i first opened my account and did the prequalify I was only qualified for the secured card. After 2 weeks after doing all these things, i qualified for all their cards and got approved for their More Rewards AMEX card.
Update:
Did the prequal and got the same thing... secured only. So I'll be upping the internal score first while checking into the TU report.
Also... what's a pledge loan? Thanks!
So a pledge loan is basically like a personal loan (installment) but it is backed by what is in your savings. The trick many people talk about on youtube and these forums is you put lets say the minimum of $250 into your savings (which is what i did , but i already have other installment loans i.e. car) and you call them up and say " hi i would like to do a pledge loan" they are going to look to see you have the money in your savings, and say ok sounds good - there is no HP because your savings account is the backing for this loan. Then you will fill out a promissory note and the trick here is once the loan posts to your account - you are going to pay 80-90% of it off right away. Then for the remaining 5 months you just make a small payment . Since the loan is backed by your savings, the funds that you secured the loan wit eventually get put on hold until you pay back the loan. Its really a great thing for people who have no installment loans and also to build that NFCU relationship!
@mfinsmi1 wrote:
Its really a great thing for people who have no installment loans and also to build that NFCU relationship!
Gotcha. I will definitely look into it.... I have installment loans though. My car and student loans. If I need to do this to make things even better with NFCU then I definitely will...
I really want to get their CCs though. I read all the time on a daily basis about people who are given massive limits even without the best credit scores. TU is my lowest score which is unfortunate... but I'm looking into that. I looked over the report just now and see no issues... 5 accounts were IIB and are reporting as such... 1 collection is the same... and everything else is positive and reporting PAA. So I have no idea why my TU score is 15-20 pts lower than the others... and have no idea what this "most recent late 4 months ago" that is shown on my 3 bureau report because that just isn't true. What is true is my EQ Fico 9 is 690s and my TU is 630s. I don't get it.
At any rate... not gonna apply for any NFCU cards until I sort this out. It isn't something I have to have today anyway.
@TRC_WA wrote:
@mfinsmi1 wrote:
Its really a great thing for people who have no installment loans and also to build that NFCU relationship!Gotcha. I will definitely look into it.... I have installment loans though. My car and student loans. If I need to do this to make things even better with NFCU then I definitely will...
I really want to get their CCs though. I read all the time on a daily basis about people who are given massive limits even without the best credit scores. TU is my lowest score which is unfortunate... but I'm looking into that. I looked over the report just now and see no issues... 5 accounts were IIB and are reporting as such... 1 collection is the same... and everything else is positive and reporting PAA. So I have no idea why my TU score is 15-20 pts lower than the others... and have no idea what this "most recent late 4 months ago" that is shown on my 3 bureau report because that just isn't true. What is true is my EQ Fico 9 is 690s and my TU is 630s. I don't get it.
At any rate... not gonna apply for any NFCU cards until I sort this out. It isn't something I have to have today anyway.
Yah the pledge loan then for you will be just to boost that internal score which is why you should just do the minimum of 250 - also i know a lot of people get crazy limits i see it all the time but dont get upset if your SL isnt a lot - mine wasnt a lot compared to all those people getting 10k and 20k but it was the biggest SL i had out of all my CC, but these cards are known to grow a lot and people get approved with fair credit scores and bks all the time
@mfinsmi1 wrote:
250 - also i know a lot of people get crazy limits i see it all the time but dont get upset if your SL isnt a lot - mine wasnt a lot compared to all those people getting 10k and 20k but it was the biggest SL i had out of all my CC, but these cards are known to grow a lot and people get approved with fair credit scores and bks all the time
Sounds good. Back prior to my Ch 13 BECU gave me a $7500 card but I unfortunately burned them so there is no going down that bridge so here we are with NFCU. I got in with PenFed a couple months ago as well and they gave me a $2500 card.
At the moment I could care less with NFCU gives me as long as I get something... LOL... but it's not a pressing need at the moment. My biggest card is a $10k Amex Delta Gold and I have a $6k WF Reflect.
I'm going to give it a little time... add some money to the accounts... set up DD... pledge loan... and then app.
Thanks for the comments. I will follow up with results.
@TRC_WA wrote:
@mfinsmi1 wrote:
250 - also i know a lot of people get crazy limits i see it all the time but dont get upset if your SL isnt a lot - mine wasnt a lot compared to all those people getting 10k and 20k but it was the biggest SL i had out of all my CC, but these cards are known to grow a lot and people get approved with fair credit scores and bks all the timeSounds good. Back prior to my Ch 13 BECU gave me a $7500 card but I unfortunately burned them so there is no going down that bridge so here we are with NFCU. I got in with PenFed a couple months ago as well and they gave me a $2500 card.
At the moment I could care less with NFCU gives me as long as I get something... LOL... but it's not a pressing need at the moment. My biggest card is a $10k Amex Delta Gold and I have a $6k WF Reflect.
I'm going to give it a little time... add some money to the accounts... set up DD... pledge loan... and then app.
Thanks for the comments. I will follow up with results.
You got some pretty solid stuff - i looked at your signature you doing better than I am thats for sure !!
@mfinsmi1 wrote:You got some pretty solid stuff - i looked at your signature you doing better than I am thats for sure !!
Thanks! Yeah I started acquired new CC's 2 years ago... and wasn't discharged from Ch 13 until March 2022. It's definitely paying off because my profile is pretty well established. I had planned to just garden till next year when everything falls off and I go well into the 700's... but I don't see myself holding off that long for a NFCU CC.
I didn't think I was eligible for NFCU but I saw family members are eligible and I have my Dad's DD214 docs in case NFCU needs to verify so I'm golden.
At any rate... NFCU will complete the profile without question. Waiting to app isn't a big deal. Long term it's probably the best option. I'd hate to app and get a $500 card or something. Putting myself in the best position possible before the app is what I'm gonna do.
BTW, can you share what NFCU gave you for a limit and where you are now?
@Anonymalous wrote:Two quick corrections: Membership at Navy isn't a hard pull, at least not normally. And while you can request your first CLI in 91 days/3 billing cycles, subsequent requests have to be 181/6 apart.
You're definitely correct that even cards that start small can grow fairly quickly. I started with $8K, and they doubled it after 3 months. And it's typically a soft pull, as long as you do it online (calling in will generally be a hard pull, I believe). And even the people with some negatives on their profiles will eventually grow, if they build the relationship and give it some time.
Yes I haven't received any HP notification and it's been 10 hours since I opened the account... so I'm gonna assume it was a SP.
I just set up my DDs and am waiting for my bank transfer setup to complete so I can fund the accounts... NFCU apparently doesn't allow one to do an incoming transfer from another bank although they did allow me to add the account to my profile.
All good not a huge deal... and as said am holding off of any CC apps for the time being. Not something I have to have today.
Thanks for chiming in.
@Anonymalous wrote:Yes, you can't do a pull request from an external bank account (except to pay off a credit card). That's one of the few limitations of Navy. But you can do a push to Navy from an external account. I funded my checking and savings accounts using ACH transfers, it's just they were initiated at the other bank.
Yes that's what I'm doing from my bank... just gotta jump through the micro deposit hoops first for confirmation then I will ACH fund the accounts. Once that is done and my DDs start showing up at NFCU I'll app for some CCs.
I probably could apply now but the fact they pull TU makes me nervous... but on the flip side I've seen threads from people with profiles and scores a LOT worse than mine posting $5K and $10K approvals and also saw a thread of a similar approval with no DD and $20 in the account so maybe I'm waiting for nothing.
Still... I'll give it a little time.