My Alliant/NFCU Strategy

[Anonymous]

I wouldn't think you'd have to go for unsecured at all. Navy also has a lineup of products for small business.

You mentioned wanting to build a good relationship with them. Although that will help long term, I don't think you'd have a problem going for want with them now and growing more going forward with them

[Anonymous]

Not applied for anything yet. I have deposited with Alliant and will do so with NFCU Monday. Will set up the SSL's Tuesday and Wed and wait for the score boost to Follow ( I hope). I considered applying for the unsecured plan in my original plan, but decided to be conservative. You guys have given me the optimism to go for the unsecured. I haven't studied their card offerings, which would you recommend I try for??

I'll let you know how things are progressing.

[Anonymous]

---

@Anonymous wrote:

Not applied for anything yet. I have deposited with Alliant and will do so with NFCU Monday. Will set up the SSL's Tuesday and Wed and wait for the score boost to Follow ( I hope). I considered applying for the unsecured plan in my original plan, but decided to be conservative. You guys have given me the optimism to go for the unsecured. I haven't studied their card offerings, which would you recommend I try for??

I'll let you know how things are progressing.

---

I'm not familiar with Alliant at all, so I can't speak about them. But I did join Navy Fed a couple of months ago. My scores (620's-630's), and presumably income (base on your available cash to deposit), are lower than yours. They approved me for their GoRewards Visa with a starting limit of $3700. Not an earth shattering SL, but at the time it was my highest (I've since been approved through PenFed for a $5000 SL card). And it hasn't been three months yet with Navy, so I'm hopeful that I'll be able to get a decent boost next month.

[Anonymous]

Alliant has an excellent reputation also. If you don't have active an installment loan I would recommend going to:

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Adding-an-installment-loan-the-Share-Secu...

This is a very long thread (1500 posts) . Read the first three posts and if you don't have an active installment loan you should realize a 25-30 put increase by following the instructions. I am in the process of doing this now. Should be finished by Tuesday.

Good Luck.

[medicgrrl]

What's the DOFD on the collection?

[Anonymous]

Alliant has an excellent reputation also. If you don't have active an installment loan I would recommend going to:

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Adding-an-installment-loan-the-Share-Secu...

This is a very long thread (1500 posts) . Read the first three posts and if you don't have an active installment loan you should realize a 25-30 put increase by following the instructions. I am in the process of doing this now. Should be finished by Tuesday.

Good Luck.

[Anonymous]

It is reported as June, 2013. I know that is 3-6 months off. Should early 2013. Not sure if I can prove it though/.

[Glen_M]

---

@Anonymous wrote:

... 

Just started rebuilding and I have a VERY THIN file. One active account. Secured Discover, 2 MO. Two 30 yo closed accounts. One collection. 

 ... 

My FICO 08's are. EQ - 659; EX - 654; TU 696 It is clear I need a thicker file.Here is my plan.

1. Join Alliant and NFCU.

2. Deposit a significant amount (30k) in both places.

3. Open a 10k SSL with Alliant.

4. Open a 2k SSL with NFCU.

5. Get a $450 advance from the NFCU LOC.

6. Get NFCU Secured CC.

Wait for the scores to go up, hopefully 30 points as most people have been getting.

 ...

 cfrepro

---

I seriously doubt you would have a problem getting a regular card with NFCU.  I have less income than you have cash, and my TU is lower, but I managed a $17.6k card with them even with an old $7k charge off on my file.

If your recent credit history is clean, low utilization, low debt to income, you're going to have no problem.  More than one SSL isn't really going to do anything for you either.

[Anonymous]

I know multiple SSL's won't help the installment loan issue, but since my file is so thin I wanted a few more active accounts.

[nate0404]

The ssl with nfcu will result in a hp, if you have the ssl with alliant, i would apply for an unsecured card with nfcu before the ssl with nfcu