Joined NFCU today, a couple quick questions...

Anonymous · ‎06-14-2017

So I called and joined over the phone, sarting a checking and savings account. I was given both account numbers and my access code on the call. My questions are as follows...

1. I wasn't automatically offered any credit products. Is this typical? Do I assume that to mean that I don't qualify for any right now?

2. When I did ask about a CLOC, I was told that is a seperate pull. I decided to wait on that pending some research. Should I just call and apply?

3. Is there any benefit to waiting on applying for other credit products until I receive offers? I didn't know which cards to apply for so I didn't want to pick the wrong one and waste a pull. I assume they'll let me know once I pre-qual. Is this a good or bad strategy.

Credit is on the mend right now. EQ637, TU634 & EX619 with 4 paid collections and one still open that will be paid this week. I have 6-8 Inq on average across the three. Income is just under $100k base, not that they asked that while opening my account. I have a new Cap One QS, Discover IT & Chase FU on the way totaling $6300 in SL's & an existing Cap One QSONE at $1000, plus a Comenity store card @ $300. Just bought a car as well, financed $15k that isn't reporting yet. (Terrible interest on that at 10.5, hence my desire to start this relationship!)

Also, they didn't even ask for my relatives' name when applying. Both Gradfathers and my Father served, so I am a solid in, but I expected them to at least vet(no pun intended) them a little bit.

Thanks!

Anonymous · ‎06-14-2017

@Anonymous wrote:
So I called and joined over the phone, sarting a checking and savings account. I was given both account numbers and my access code on the call. My questions are as follows...

1. I wasn't automatically offered any credit products. Is this typical? Do I assume that to mean that I don't qualify for any right now?

2. When I did ask about a CLOC, I was told that is a seperate pull. I decided to wait on that pending some research. Should I just call and apply?

3. Is there any benefit to waiting on applying for other credit products until I receive offers? I didn't know which cards to apply for so I didn't want to pick the wrong one and waste a pull. I assume they'll let me know once I pre-qual. Is this a good or bad strategy.

@Anonymous is on the mend right now. EQ637, TU634 & EX619 with 4 paid collections and one still open that will be paid this week. I have 6-8 Inq on average across the three. Income is just under $100k base, not that they asked that while opening my account. I have a new Cap One QS, Discover IT & Chase FU on the way totaling $6300 in SL's & an existing Cap One QSONE at $1000, plus a Comenity store card @ $300. Just bought a car as well, financed $15k that isn't reporting yet. (Terrible interest on that at 10.5, hence my desire to start this relationship!)

Also, they didn't even ask for my relatives' name when applying. Both Gradfathers and my Father served, so I am a solid in, but I expected them to at least vet(no pun intended) them a little bit.

Thanks!

Just how new are the Cap One, Discover and Chase accounts? Also, what is your utilization like?

I wouldn't worry that they didn't offer you any credit products, but they are going to want to see some positive history/good utilization habits before approving any unsecured credit.

Navy is typically separate HP's for everything but one thing I've heard of working is applying for an unsecured credit card and if you're not approved, calling in and getting the secured version (that will graduate in about a year) using that same HP.

Anonymous · ‎06-14-2017

Had Cap One for about a month($1k), Chase ($4.5k) & Disc ($800) are both on the way.

Utiization is 34% right now, which is high, because I had a $1k account I closed. (Marked as "loan paid"). Payments are posting as we speak to bring down to <1%.

Payment history is good on all but student loans. Had a rock start on those which resulted in 28 lates due to 7 months where I didn't realize I needed to make payments after school.(Idiot, I know)

I'd like to stay aware from secured, since I have the above unsecured lines already. Unless you think it would drastically speed up my growth with NFCU.

Also, about to pay down $3-4k in student loans within 2 weeks or so.(out of $14k)

Anonymous · ‎06-14-2017

@Anonymous wrote:
Had Cap One for about a month($1k), Chase ($4.5k) & Disc ($800) are both on the way.

Utiization is 34% right now, which is high, because I had a $1k account I closed. (Marked as "loan paid"). Payments are posting as we speak to bring down to <1%.

Payment history is good on all but student loans. Had a rock start on those which resulted in 28 lates due to 7 months where I didn't realize I needed to make payments after school.(Idiot, I know)

I'd like to stay aware from secured, since I have the above unsecured lines already. Unless you think it would drastically speed up my growth with NFCU.

Also, about to pay down $3-4k in student loans within 2 weeks or so.(out of $14k)

My advice would be to go ahead and apply for one of their cards. Your stats are very similar to mine, and they approved me for an unsecured card. From personal experience, and multiple posts on here, it seems that they tend to offer easier approvals for cards vs CLOC; although the reverse has been true for a handful of people.

Anonymous · ‎06-14-2017

Is there a particular one you'd recommend applying for? I feel like I need another 1.5%CB like I need a hole in my head.

Should I app online, or is it best to call in?

Anonymous · ‎06-14-2017

Decided to app for the GoRewards and received a $2900 SL!. Definitely done for about a year on HP's...

Anonymous · ‎06-14-2017

@Anonymous wrote:
Decided to app for the GoRewards and received a $2900 SL!. Definitely done for about a year on HP's...

Sorry, didn't get back on in time to answer your questions. I would've suggested the GoRewards (since that's the one I got)! Congratulations, and welcome to Navy! I'm a pretty new member, myself, but it really seems like a great place to be.