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NFCU Debt Consolidation Loan Approval Odds

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
Established Member

NFCU Debt Consolidation Loan Approval Odds

Hello Everyone

Long time lurker , with that said I want to begin this post with a " thank you " to all of those who take time out of their day to help others by posting on this forum . You men and women help people change their lives . You all are amazing !!!

With that said I have a question lol . I was considering trying to acquire a NFCU Debt Consolidation Loan to pay off some loans and credit debt .

I filed for BK7 Dec 2017 .
Discharged April 4th 2018
Since my discharge I've opened the following credit lines
Discover it May 2018 $500 limit ( $450 balance )
Capital one Quicksilver April 2018 $500 Cli to $750( zero balance )
Credit one May 2018 $400 Cli to $600 ( zero balance )
Gamestop CC July 2018 $300 Cli to $950 ( $550 Balance )
Capital One Quicksilver One Oct 2018 $1000 Cli to $1500 ( $500 balance )
Tropical Financial CU rewards Oct 2018 $500 ( $420 Balance )
Kohls card Nov 2018 $300 ( $100 Balance )
Target Red Card Dec 2018 $300 ( $270 Balance )
NFCU Rewards $700 opened yesterday ( zero balance )

I also have 3 loans
Avant $3500 Nov 2018 ( 35% very high interest rate I know lol )
Opurtun Loan $1300 Nov 2018 ( owe $700 )
Tropical Financial Kool Cash Loan Feb 2019 $1000

I was thinking about this loan more for the Avant loan that's at 35% but I figured if I'm going to apply I might as well try and include the rest of my debt .
My scores are as follows
EQ 664
TR 648
EX 674
21 INQ since discharge . Besides BK7 no no neg . Everything paid on time . My income is about 85k my wifes income is about 30k .

With all that said do u guys think I have a chance at a debt Consolidation loan with NFCU ? Or should I just wait ?

Thanks in advance for all your help and comments !!!
Message 1 of 25
24 REPLIES 24
Epic Contributor

Re: NFCU Debt Consolidation Loan Approval Odds

At this time you don't have anything to lose but you have to stop opening these terrible cash advance type loans... so soon from BK, make you look in trouble again already.

I would start checking if you can consolidate the Capital one cards into just 1 for a higher limit.

Start asking for a credit line increase on each cap1 every month until you get 1 on a card, then don't ask for 6 months, but continue asking on the others each month.

Start asking Discover for a credit line increase EVERY MONTH.

Start calling robo lady with game stop and asking for a credit line increase EVERY month (don't give an amount. if approved, repeat the process and just ask her for credit line increase and go through the automated process again.

Call and ask kohls for a credit line increase.

What about your other credit union, you have had them since oct, time for an increase... do they have personal loans also?

Message 2 of 25
Established Member

Re: NFCU Debt Consolidation Loan Approval Odds

Thanks for your response!!!
The other credit union is a little uptight when it comes to loans. I can ask for a CLI but they require a HP . Both capital one cards and gamestop have already given me a cli in the past 3 months. Discover is a pain and have not yet given me a cli . Trust me ive tried. I can def combine my capital one cards. In your opinion I should apply for a debt Consolidation loan with NFCU? Do u think I have a legit chance?
Message 3 of 25
Epic Contributor

Re: NFCU Debt Consolidation Loan Approval Odds


@FicoMan27 wrote:
Thanks for your response!!!
The other credit union is a little uptight when it comes to loans. I can ask for a CLI but they require a HP . Both capital one cards and gamestop have already given me a cli in the past 3 months. Discover is a pain and have not yet given me a cli . Trust me ive tried. I can def combine my capital one cards. In your opinion I should apply for a debt Consolidation loan with NFCU? Do u think I have a legit chance?

Okay, lets hold off on the HP for the other credit union right now.

You might have missed your window to double dip on the cap1 credit line increase but I would ask anyway, doesn't hurt, and then consolidate the ones it will allow you too... not sure if they have a balance you can.

Id say, it's a toss up on the loan, they sure didn't like you for a credit card at $700 but a loan at $5k might seem okay.

Message 4 of 25
Established Member

Re: NFCU Debt Consolidation Loan Approval Odds

Im going to take your advice and do whatever u tell me lol. If you were in my shoes is a " toss up " good enough odds to take a hp with NFCU?
Message 5 of 25
Epic Contributor

Re: NFCU Debt Consolidation Loan Approval Odds

Well yes! Navy’s biggest personal loan rate is 18%, that’s half what your currently paying!
Message 6 of 25
Established Member

Re: NFCU Debt Consolidation Loan Approval Odds

My thoughts exactly . Well then I guess its time to call NFCU . I assume it'll get denied and my best chance will me with the recon. Let's see what happens. Also thanks so much creditaddict for responding to my message . Your the best !!!!
Message 7 of 25
Epic Contributor

Re: NFCU Debt Consolidation Loan Approval Odds


@FicoMan27 wrote:
My thoughts exactly . Well then I guess its time to call NFCU . I assume it'll get denied and my best chance will me with the recon. Let's see what happens. Also thanks so much creditaddict for responding to my message . Your the best !!!!

just apply online.

E-mail for recons work just fine.

Message 8 of 25
Established Member

Re: NFCU Debt Consolidation Loan Approval Odds

Copy that. Will do
Message 9 of 25
Established Member

Re: NFCU Debt Consolidation Loan Approval Odds

So i applied I spoke to an awesome rep. Gave her all my info . I was on hold for like 5 min but was ultimately declined . She told me that the LO didnt approve me because I'm a fresh member not so much because of my credit portfolio. She said had I had a few months tenure things would have more then likely been different . It was worth a try

Message 10 of 25