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Navy Federal Credit Union NFCU

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

Re: Navy Federal Credit Union NFCU

NFCU uses either TU Fico 8 or TU Fico 9 (I can't recall. Hopefully, someone else will chime in with the correct one). Regardless, these will certainly be a different score than the mortgage score your lender provided. And, it is certainly possible that your mortgage score differs wildly from your Fico 8 and/or Fico 9


Message 21 of 34
Member

Re: Navy Federal Credit Union NFCU

I agree. And I have no doubts in 6 months they will give me "luv". But had I known they would start out like this I would have went for another Chase or Discover! Lol! I get it. I understand. And just as confused as I am so are most people commenting saying "there must be something else". That is whats so puzzling. There isn't "something else". So I understand why people can't believe it and have turned this thread into a semi argument. I almost accused them of being NFCU bots. Lol! I was just posting so others close to my situation could decide for themselves if they want to take the chance. Reading here and over on credit pulls site I really did see people saying middle of the pack don't get treated the same. I truly believe that now. It's not the end of the world and it's not gunna break me down. But like I said had I known I would have grabbed a different card and then let the nfcu mature. I was completely shocked to see $500! Lol! I didn't expect the max either but even Credit One gave me $1k. I never have used that card so it isn't maturing yet. I am going to start doing $20 a month just to improve my payment history. Plus I am going to use the nfcu and cloc daily. And pay off weekly. I can blow that $1k just on gas a week. Whew... I was just posting for other I wasn't trying to make enemies. Everyone take care.
Message 22 of 34
Member

Re: Navy Federal Credit Union NFCU

Also... When I was in the branch the kid who opened my acct asked about my cards and balances. That is the only reason I app'd for the Platinum BT card. He kept saying I was a good candidate to get approved for enough to transfer those balances and pay 0% interest for the first 12 months. Now it's my lowest card. Lol! I would have waited a few months and app'd for the cash rewards instead.
Message 23 of 34
Valued Contributor

Re: Navy Federal Credit Union NFCU

TU 9 for new credit apps. 

EQ 9 for new loan / cloc apps & future CLIs

 


@Caardvark wrote:

NFCU uses either TU Fico 8 or TU Fico 9 (I can't recall. Hopefully, someone else will chime in with the correct one). Regardless, these will certainly be a different score than the mortgage score your lender provided. And, it is certainly possible that your mortgage score differs wildly from your Fico 8 and/or Fico 9


 

OP -- I see you have a nice income,  but how's your DTI?    Navy is much more sensitive to DTI than scores -- could this be a factor? 

Very low DTI is also while you'll often see those with not so hot credit still get high starting limits from Navy.   

 

Another thought -- of the accounts you listed in your initial post, are any of them new accounts (like in the last 6 months)?  If so, how many?    While Navy isn't really new account or inquiry sensitive, the number of new accounts (credit seeking behavior) could also be a determining factor for starting limits. 

 

Also please understand that no one is trying to argue with you.   We absolutely pick apart posts and ask Qs --- so we can analyze data -- that's how we discover trends.    Understanding your profile better gives us data points - and with enough data points from various individuals, we can better understand a lender's reasoning.   That's all...  it's certainly not meant to harrass you. 

 

Also..  the previous posts regarding your scores is right... the monitoring sites you listed, with the exception of Experian, do not provide FICO scores, they are Vantage - so your actual FICO scores for TU / EQ may be very different (higher or lower).     The score your lender provided is likely a mortgage score and, while a FICO version, not the same as what Navy would have used.   

 

Anyway...  Navy CCs do tend to grow quickly if you just hang in there and give a little time for your internal score to grow..   hopefully, after a few months they'll have you singing a better tune. 

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting FICO 8s | 09/06/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 06/01/2019: EX 745 ✦ EQ 727 ✦ TU 737
Current FICO 9s | 06/01/2019: EX 753 ✦ EQ 751 ✦ TU 732
Highest FICO-8 Ever | 10/2018: 780 [on dirty report]

2019 Goal Score | 780s


My AAOA: 2.6 years not incl. AU / 2.9 years incl. AU
My AoOA: 6.4 years not incl. AU / 8.4 Years incl. AU
Report Status: Clean

Tending my Garden til 2/2021


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 24 of 34
Frequent Contributor

Re: Navy Federal Credit Union NFCU

@thornback,

 

Good insight. What is DTI? Was unable to find definition of it in this forum.

 

Thanks.









Message 25 of 34
Moderator Emeritus

Re: Navy Federal Credit Union NFCU

@Biggcraze  as you know (it is most unfortunate from where I sit), in today's world Bank Tellers, Customer Service folks, and even Personal Bankers are cast into the role of looking like they can perform for us but, in reality they can't do much. All real authority was long ago stripped away by standardization and equity which is achieved through technological systems (or so we are told)! Smiley Frustrated

Gads, that was a lot of words.

Starting Score: 000 Fico
Current Score: 850 Fico EX08EQ08TU08
Goal Score: 850


Take the myFICO Fitness Challenge
Message 26 of 34
Member

Re: Navy Federal Credit Union NFCU

Gotcha! The Amex and Credit One are new accts. The Chase and Discover are 1 year old. So this is probably the issue. Too new. I figured with the guys I see on here with 640's and 3 old collections that my new accts wouldn't hurt that bad. My DTI is ok. My house payment is $1620 a month. I don't have a car payment. I am a C Corp so my business expenses are seperate and I pay myself a salary so lenders don't know what my business expenses are and shouldn't be an issue. I have regular utility bills like everyone else except in the summer my electricity bill is close to $1k. Its 113 here right now and I have both AC's on 74 degrees. Lol! So yea... New accts must be it.
Message 27 of 34
Valued Contributor

Re: Navy Federal Credit Union NFCU

Debt-to-Income.     

 

Debts (monthly) / monthly (gross) income.   

 

*Debts (for the purpose of credit apps) based on what is actually reported to the bureaus -- so add up all of your monthly CC payments and all monthly loan payments and divide that by your monthly income.   IF no mortgage, then include your rent payment, if any. 

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting FICO 8s | 09/06/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 06/01/2019: EX 745 ✦ EQ 727 ✦ TU 737
Current FICO 9s | 06/01/2019: EX 753 ✦ EQ 751 ✦ TU 732
Highest FICO-8 Ever | 10/2018: 780 [on dirty report]

2019 Goal Score | 780s


My AAOA: 2.6 years not incl. AU / 2.9 years incl. AU
My AoOA: 6.4 years not incl. AU / 8.4 Years incl. AU
Report Status: Clean

Tending my Garden til 2/2021


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 28 of 34
Valued Contributor

Re: Navy Federal Credit Union NFCU


@Aspireto850 wrote:

@thornback,

 

Good insight. What is DTI? Was unable to find definition of it in this forum.

 

Thanks.


DTI is your Debt to Income ratio.  There are several ways to calculate it but basically its your monthly payments (credit cards, personal loans, rent/mortgage, etc) divided by your monthly income.





Message 29 of 34
Moderator Emeritus

Re: Navy Federal Credit Union NFCU

Biggcraze your temperature is 113 F now ... yike! No wonder you need two air conditioners! Don't melt!
Starting Score: 000 Fico
Current Score: 850 Fico EX08EQ08TU08
Goal Score: 850


Take the myFICO Fitness Challenge
Message 30 of 34