NFCU relationship, and building trust

[punk4hire]

Hey CB,

 

I just opened a couple of accounts (checking and savings) with NFCU. I'm curious how long I should wait before putting my hand out to ask for a loan.

Also should I use the accounts regularly for a while to establish trust with them? I'm unsure and only became a member to get lines of credit that would be more difficule to come by. I have a 692 with Equifax (which I've read they use exclusively), but have very little in regards to revolving accounts. I also have an auto loan from 4 years ago that was paid on time through its term.

 

Thanks for your help!

[MarvBear]

The only experience I have with NFCU is anecdotal via other member's posting on the forums.

 

I have no personal experience to guide you, but here is a bump.

[aboveliquidice]

The only experience I have with NFCU is anecdotal via other member's posting on the forums.

 

I have no personal experience to guide you, but here is a bump.

 

Navy can be very hit and miss (Marv may remember my moaning and complaining Using the products they offer is a good way to start though. I know that they operate targeted auto loan offers. I was denied for a regular auto-refinancing, but given a preapproved auto refinance a few months later (which was really strange).

 

Recently, I have received another preapproved notice for buying a new car (maybe two weeks ago). So I know they are still running the programs.

 

Best bet, head on down to your local NFCU branch and talk with someone. I have had nothing but positive experiences with Navy in person.

Edited October 7, 2009 by aboveliquidice

[Moorlock21]

I applied for the nrewards visa as soon as the checking account was set up and was instantly approved. Navchek is supposedly easier to get, but it's going to have to get approved by a loan officer on review. IMO I would apply for the credit card and Navchek now and then another card after about 6 months. If you get shot down for the Navchek and card then just wait a couple of months and try again-they don't hold it against you. You need to be aware that NFCU pulls EQ for every single account that you apply for(i.e. 1 for Navchek and 1 for card) even if you apply the same day so if inquiries are a concern of yours then you might want to keep that in mind. Your score should be fine for Navy, but I don't know if your thin file would hurt...

 

 

Joe

[Really Trying 2]

I did a pre-approval auto loan at NFCU. While at the dealer, after all figures were finalized, they asked if they beat the APR would I consider their financing. Figured what the heck and said yes. Well they not only beat it, they tore it to he@@. New truck loan at 5 1/4 through the dealer. Same everything as NFCU would have been.

[Moorlock21]

Outstanding!!

I love it when the average guy wins.

Way to use leverage to get the best deal...

 

 

Joe

[ltsz28]

Saturday I applied for a NFCU CC and called them today to check the status, found out it was approved and ended up doing a refi on my truck to take the interest rate from the teens to 4.75%. The whole process took about 30 minutes on the phone and all I have to do is pick up the check and loan package at the local branch and send the check to Wells Fargo. I would go to a branch or talk to someone on the phone. In my past experience doing online apps with them is a waste of time.

[Moorlock21]

Saturday I applied for a NFCU CC and called them today to check the status, found out it was approved and ended up doing a refi on my truck to take the interest rate from the teens to 4.75%. The whole process took about 30 minutes on the phone and all I have to do is pick up the check and loan package at the local branch and send the check to Wells Fargo. I would go to a branch or talk to someone on the phone. In my past experience doing online apps with them is a waste of time.

 

 

Congrats!!

 

 

JOE

[lakbum]

I thought I'd add my experience with NFCU.

 

After joining, I applied for the NavChek about a day later and was approved. I then asked them about refinancing and they said that they would use the same credit pull from the NavChek. So, I thought to myself that I had nothing to lose since I already had a hard inquiry. They approved my refinance for 50k when a year ago PenFed wouldn't even approve me for 10k (I had same credit profile as well back then).

 

I think I found my bank/CU...and its NFCU. After reading about NFCU and how great they were...I didn't believe it until I actually tried myself.

[fueloveskhou]

I like navyfcu but the only thing I hate about it i had two issue with them not having the title. The 1st time I handed it to a bracnh in person. The 2nd time we turned in the title to the dmv and the dmv sent the title to them.

 

I'm thinkin about getting another auto loan from them. But IDk, don't want to go thur the hassle of having problems with them not receiving the title.