Jump to content

wny

Members
  • Content Count

    111
  • Joined

  • Last visited

  1. NASA FCU offers very generous lines of credit on their credit cards, but for the uninitiated, there are tricks and traps they don't disclose to you upfront that you will find out about later. Around three years ago, my husband and I each opened new NASA accounts and were promptly given $30k in credit each. We did balance transfers on the accounts. Last month, we paid off one of them (actually overpaid it, thanks to their obnoxiously awful online banking system that does not always acknowledge account actions like payments). Instead of seeking a refund, I just decided to pull out the NASA credit card and use that to recoup my credit balance. Except the card I had put away in a box three years ago was long expired. There was no replacement card ever issued to either of us. So I wrote them, which is when I learned from representative number one "the account has been closed for inactivity since December 2018." I was invited to re-apply. This despite regular monthly payments being made for all three years, the last of which posted in May. This was news to me. The online dashboard still reflected the $30k credit line and more than $30k in available credit because of the credit balance now on the account. No warning, no message, no nothing. I complained about these things in response and the representative quickly reopened the credit line and issued a new card. For the other account, which still has a balance transfer being paid down, I wrote a separate email about the missing replacement card. I was informedthe account was still open, the credit line was still active, BUT the account's ability to accept new charges was paused due to inactivity and a new card was not scheduled to be automatically issued. NASA FCU requires at least two credit transactions annually, preferably spread out at six-month intervals, to keep a credit line active and available for use. They don't give you warnings. Payments do not count as activity. Only purchases. They are sending a new card to get this account unlocked and open as well. This is literally the only card I have ever had that did not treat payments as legitimate activity. Thank goodness we did not have to re-apply and take a hard pull, and if you complain they are responsive. Reviews about NASA FCU are not good on Yelp. Apparently the credit union's customer service and member responsiveness have taken some serious hits in the last three years. I invite people to explore that on their own. But word to the wise -- buy something small at least twice a year on those NASA cards or risk seeing them closed.
  2. Citibank is mailing these out in email but of course says nothing as to whether or not it will be a hard or soft pull. I suspect hard because the web form includes in small print you are giving Citibank permission to access your credit report. Anyone been down this road before on what kind of pull this generates? The other terms: 2 Credit Limit Increase Requests: Your account must be open and current in order for you to request a credit limit increase. If you have received a credit limit increase in the last 185 days, you may no longer qualify for this offer. 3 Subject to credit approval for qualifying purchases made on a qualifying Sears card. Purchase requirements and exclusions apply. May not be combined with other promotional offers. See store signs or associate for details, or visit sears.com/credit. Excludes Sears Commercial One Accounts; Sears Home Improvement Account valid on installed sales only. Offers are subject to change without notice.
  3. It depends on who you are dealing with. NFCU now tells me they will no longer admit new members if the sponsor is NOT a current member in good standing. After calling in, I learned my sister was a member but closed her accounts and thus I am ineligible to join because only current NFCU members in good standing are acceptable to serve as sponsors. I asked how long has this been in the case and was told it was a result of tightening standards for membership effective 1 January 2016. The qualification tool on the website has been changed to reflect this. If you enter a sponsor's former account number or last four of SS#, if they are not a member in good standing and show as not found, the app is now rejected. Now if you call in, there is every chance you could get a call center employee that will admit you anyway, but as soon a someone sometime decides to verify your eligibility, you'd then be out. So it's all very YMMV.
  4. You are trapped in their security department, which is why everything is being held up. Once reported for suspicious activity, a security officer assigned to the case controls your entire destiny at NFCU. The in-branch reps and customer service will not be able to help you, and the suggestion to change qualifying sponsors probably raised even more red flags. Then when you suggested you would forfeit their credit products to remove the block, I guarantee that raised even MORE red flags because dishonest customers are the first to walk away from banking products they originally applied and qualified for. An "honest" customer would probably be threatening to close their account altogether if this wasn't resolved, not forego products and services in an effort to stay. At this point, you have probably burned your bridges with them and they are sending you a subtle message to go away and close your membership. If you don't, I think there is a good chance they will on whatever grounds they come up with. I ran into exactly this attitude with Partners Credit Union a few years ago. I hadn't had a chance to tell my spouse we were applying and within 10 minutes of applying they were calling home and office numbers to verify and he had no idea what they were talking about. That was all it took. Regardless of subsequent follow-ups, the "security department" had us and no amount of intervention by regular CSRs or a candid explanation of what happened made the slightest difference. They started asking for more documentation, which we provided, and then they asked for more. Then I got grilled by someone that reminded me of the older police guy from CSI:Miami who literally asked me questions about why I would want to join, whether I was planning to buy a home in Florida (Partners is the Walt Disney employee credit union), when, where, and whether I was familiar with landmarks in the area. I was told someone would make a decision and let me know. It came in the form of a check covering my initial deposit and no explanation at all except a notation of "account closure." At the time, Partners was the subject of an app spree on either this forum or "the other" and they assumed they were being invaded by online fraudsters. Anyone appearing motivated to remain a member was immediately suspect. A lot of folks got the same treatment I did. You can contact corporate if you want, but they usually give security huge leeway to unilaterally make these decisions because that was what they were hired to do. In the end, NFCU doesn't *need* you as a member and they are pretty militant about their sponsor qualifications. It's not what anyone wants to hear, but sometimes honest people get wrongly suspect and they've probably been burned enough to be willing to let some good people go to keep the bad ones out.
  5. wny

    NASA Approval

    It takes at least three weeks after approval for the card to turn up in the mail. You usually get the credit exception notice a few days before the card shows up. About two weeks after that, you will receive three balance transfer checks offering 7.9% for the life of the loan with no transfer/transaction fee.
  6. wny

    NASA Approval

    NASA sends these to everyone who applies. It looks scary but in fact is just a reference to the credit info they used to make a determination. I got one after being approved before the card showed up in the mail.
  7. wny

    NASA Approval

    NASA downgrades renters and customers with a history of paying off their credit cards in full every month. My cousin and I share credit profiles within a few points of each other with 0 inquiries. I am carrying debt on 0-4% balance transfer offers with a perfect payment score, no baddies, and a mortgage. He rents and pays his credit cards in full every month. I got $30k, he got $17.5k. We're both in the very high 700s. NASA also gives a lot of weight to AAOA and long-standing relationships with other creditors and is more generous to those customers.
  8. wny

    PSECU and PenFed

    For Penfed and PSECU, if your membership (ie. no activity on any account) remains inactive for one year, they usually send you a warning letter then close all of your accounts it if you don't respond quickly. The check for any remaining funds comes in the letter notifying you they have closed your account(s). For credit products, you risk a review after a year of inactivity and they may do nothing or warn you they are going to close or reduce those lines if they remain unused. PSECU is more lenient than Penfed about this if you talk to them. Penfed's checking sucks ($500 minimum balance to avoid fees, no thanks) but I have a credit card with them so it's easy to keep activity on the account. If you just have savings, set a Google Calendar reminder once a year to electronically transfer a few dollars to your savings share.
  9. wny

    PSECU and PenFed

    Do not be surprised to find additional hard pulls from Penfed despite this, especially if you ever talk to a loan officer. They instinctively like to pull credit reports when talking to you on the phone about a loan, even if you applied online. The mortgage department probably won't care at all about your account relationship if you have good credit, which is their big determining factor. However, if you run into a reconsideration discussion, that relationship might add something to your corner. I am dealing with a re-fi (with a local CU) right now and received an education about how many credit unions handle mortgages. They have a front line mortgage rep to guide you along the way, but a lot of the grunt work is farmed out to variable quality third party processing companies that verify insurance, manage PMI, title searches, arrange for inspections/appraisals and surveys. You as a customer rarely realize this because they will represent themselves as your "mortgage coordinator" or something like that but actually work for a different company. Some are better than others. BTW, Penfed continues to rack up A LOT of BBB and online review complaints about their mortgage department and the troubles people have dealing with them. I did not even consider them for a re-fi because they have a long-standing track record of slow/unresponsive mortgage processors that can often drag out a refi for months, intransigent mortgage reps, approvals that suddenly turn into denials with little explanation, and a voluntary dispute resolution track record that favors Penfed's position over 90 percent of the time. Reviewing their BBB complaint log, it was not unusual to find people waiting 8-10 months for mortgage re-fi's or home equity loans with Penfed, especially if they impose conditions on the loan or if you are close to their rather stringent debt-to-income ratio or have a mixed credit history. They can approve you one day and suddenly another loan officer will deny you right in the middle of the process. I didn't want to play that game so I went local instead.
  10. wny

    PenFed :)

    My husband and I have our own individual Penfed accounts and have maintained them since 2011. I noticed that in years' past, the seasonal approvals for both of us were more generous and varied. We each have two CCs with Penfed and a now paid off Penfed auto loan. You can do better with checking somewhere else. I seem to recall the total exposure for Penfed credit lines is $30k. My husband has about 26k and I have 30k lines basically doing lifetime 4.99% balance transfers at around 30% utilization. No purchases of consequence on any Penfed cards, just BTs. Starting in 2014, we noticed they started tightening things up for us. My score is 727 (VantageScore 3.0) and my husband is near 800. No lates, no baddies, but lots of activity on a range of cards, some with significant balances. Penfed obviously doesn't like that. Those $25k pre-approved auto loan blank checks that used to show up in the mailbox on the anniversary of our last car purchase each year have stopped. Now we get pre-approval invites for $10-15k instead. My husband was invited to max out a CLI with an invite for an extra $4k, but all of the invites for personal loans, etc. disappeared last year and have not been seen since. I rarely get any at all anymore, no doubt because I hit their ceiling. I think the trick with Penfed is that they like to see most of your credit cards stick with zero balances and only a few show activity. They also absolutely do not tolerate if you tend to make minimum payments, because when we used to get no invites in 2013, we added an additional $100 to the minimums on other cards and the invites reappeared (such as they were) six months later. They also get stingy if you keep a balance on a Penfed card and don't make an earnest effort to pay it down within a year. But they do seem to spread more love if you have an active installment loan with them. Of all the lenders I deal with, Penfed is the most watchful for early signs of credit/income stress and they shut you down before you get in over your head once they see warning signs (Egyptians, recent apps, sudden score drops, etc.)
  11. I applied to NASA on Tuesday and requested a credit card on Wednesday. I was instantly approved for $30K. FICO score is 727. No sign of hard pull yet. (VantageScore 3.0 model).
  12. Anyone know if it is a hard pull to apply for NASA checking?
  13. I finally got a credit card denial letter from these clowns saying I had too much unsecured debt, that they couldn't verify I was a U.S. citizen, and the "other" box was checked with no explanation. Simply amazing. It appears they were just randomly checking whatever boxes they liked for the denial. I have less than $500 unsecured debt and more than $300k in unused credit, and that Enhanced NY driver's license I sent them -- twice -- should have resolved the citizenship question, because only a U.S. citizen can get one. It's like running a credit union with the Keystone Cops in charge. They just wanted to be rid of me, so any box will do. I decided it would be worth five minutes to fax the latest mess to Sen. Chuck Schumer's office in D.C. Messing around with federal credit card regulations, and their obligation to respond under the legislative conditions he helped write, were two points of interest to the aide that called me back. In his eyes, they've probably violated federal law, and he's referring it up the chain for follow-up. It turns out you just can't check any box on those denial letters! They do deserve a spanking, at least.
  14. "An error has occurred" is Partners way of telling you your account is closed, assuming you originally had online access to begin with. Amazingly, Partners sent me another "welcome letter" in the mail today for my now-closed account. Duh.... In the same day's mail was an invitation to apply for PSECU's Visa card. It really does amaze me.
  15. I agree the basic CSRs are polite, friendly, and try to be helpful, but are not always consistent with information. It's the back office people we seem to have all the problems with.

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines