NFCU SSL Question

[Anonymous]

Does NFCU do a HP for SSL? Wife is just starting her rebuild now and has a secured with NFCU for a month and an Amex Cash Magnet. She is going to go for a 2nd NFCU at 91/3 but if she can get an SSL without the HP then she'll be going good. 

[Jnbmom]

Although I don't have experience with the SSL, I would have to think Navy will do another HP.

They pull for everything

[Anonymous]

Well that's not cool. 

I see that all of the time, but hopefully they don't. I mean she will be giving them the money to hold onto. I wouldn't think they would need to do a HP for that. I'll have her try it next week and report back here once we find out if they do or not.

[Anonymous]

It would be great to hear what her experience is.  So thanks for being willing to circle back with us. 

Some lenders do not do hard pulls for SSLs.  Alliant, for example, never did a hard pull back when it offered SSLs.

And Navy does not exactly do a hard pull for everything.  Although the jury is still somewhat out on this, the evidence appears to be that Navy does not do a hard pull simply for joining the CU (as opposed to some CUs that do).  The key thing is to start by opening only a savings account at first; if you do that there appears to be no hard pull for joining.

Can you clarify whether your wife has no open loans of any kind?  If she has no open loans, she should implement the full Share Secured Loan Technique and she'll get a lot of scoring points -- compared with the small ding at one bureau for a HP won't be important.

Can she apply for a $3100 SSL?  If she does, I believe she can get a 60 month term which improves the value of the SSL Technique.

[Anonymous]

I joined last month. I got savings, checking, CC and SSL and only took one TU HP the day I applied for the card.

I signed the SSL promissory note just last week but so far no HP has shown up on credit karma.

[Anonymous]

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@Anonymous wrote:

I joined last month. I got savings, checking, CC and SSL and only took one TU HP the day I applied for the card.

I signed the SSL promissory note just last week but so far no HP has shown up on credit karma.

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Can you give us a timeline with dates for when you...

*  Opened your savings account?

*  Opened your checking account?

*  Applied for your CC?

*  Applied for the SSL?

*  Date of the known inquiry?

The fact that you apparently did not get an HP for the SSL may not tell us much, since Navy might have used the HP for your CC (say) if it was recent enough.

What would be a meaningful test case is someone who has had no hard pulls from Navy (or one that was over 70 days ago) who then applies for an SSL and gets no hard pull.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

I joined last month. I got savings, checking, CC and SSL and only took one TU HP the day I applied for the card.

I signed the SSL promissory note just last week but so far no HP has shown up on credit karma.

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Can you give us a timeline with dates for when you...

*  Opened your savings account? 10/15 via website

*  Opened your checking account? 10/18 via phone

*  Applied for your CC? 10/18 via website several hours after call

*  Applied for the SSL? 11/8 via phone

*  Date of the known inquiry? 10/18

The fact that you apparently did not get an HP for the SSL may not tell us much, since Navy might have used the HP for your CC (say) if it was recent enough.

What would be a meaningful test case is someone who has had no hard pulls from Navy (or one that was over 70 days ago) who then applies for an SSL and gets no hard pull.

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[Anonymous]

Also I thought NFCU didn't normally reuse HPs.

[Anonymous]

I am not an expert on Navy, so I am happy to defer to anyone who can answer that defintively.  I do know that in general some banks and CUs will reuse an HP if it is recent enough.  The SSL app was done 20 days after the date of the CC inquriy, and that is recent enough for some banks (though too distant for many others).

[Anonymous]

I joined in June and opened a SSL in August.  No HPs for anything.