Navy Federal CU = Love

[Amy26]

I love NFCU. CH7 Discharge July 2011. Got a NFCU Secured no fee Aug 2011. Aug 2012 they converted my secured to an unsecured $2K no fee card. Oct 2012 CLI to $5k. I am now going to take an secured installment loan at 2% so I can have an installment loan on my credit report.

Congrats.

[malf1204]

I love NFCU. CH7 Discharge July 2011. Got a NFCU Secured no fee Aug 2011. Aug 2012 they converted my secured to an unsecured $2K no fee card. Oct 2012 CLI to $5k. I am now going to take an secured installment loan at 2% so I can have an installment loan on my credit report.

[iswmle]

I just want to give some warning about NFCU... once you burn them that is it. You are done. USAA, on the other hand, forgives after 7 years. I use to work for USAA, spoke with many who have BK'd them in the past only to be welcomed back with open arms and generous credit limits after that 7 year ban. NFCU blacklists if you ever default, and let me just say from my own experience they were the worst creditors to deal with. And I had Chase in my pocket. NFCU made my life quite a nightmare.

[southernmom]

bears~
I love NFCU with all my heart. We had USAA and Bk'd some accounts with them. We went to NFCU website and applied for our membership without a problem. One nice thing about NFCU when you don't have a branch near you is edeposit. If you have a check to deposit you can scan it into your account. Since we don't have a branch here there are many atm's that we can use for free. I would apply with them if you plan on bk'ing USAA. Once you BK usaa they will boot you out the door

Hi,

Just curious about Navy Cu. My husband had an account with small VISA at USAA, which we haven't paid on for a few months and will be included when we file BK. He is retired Air Force, disabled vet (70%), so if we wanted to open an account with them we should be able to, right?

There aren't any branches around here so not sure if it would be worth it to change or not. If we wanted to open an account there - should we do it before we file?
Thanks!

[basketsbears]

Hi,

Just curious about Navy Cu. My husband had an account with small VISA at USAA, which we haven't paid on for a few months and will be included when we file BK. He is retired Air Force, disabled vet (70%), so if we wanted to open an account with them we should be able to, right?

There aren't any branches around here so not sure if it would be worth it to change or not. If we wanted to open an account there - should we do it before we file?
Thanks!

[UnderH2OMom]

Navy Federal gave my husband a 25,000 credit line and gave me a 27,000 credit line and we were only about one year out of a Chapter 7 bankruptcy. We had a Capital One with a 1250 credit limit, and a Hooters card with a 500 limit at the time. When we applied, I was hoping for another 1000 or so just to rebuild our credit. I nearly fainted when I saw those limits. We always, always, always pay our cards on time and have never paid a dime in interest. I love Navy Federal. I am just thankful we didn't know about them before the bankruptcy or we would have screwed that up too. Older and wiser now.

[wadecloe]

Hi Everyone. We have a house in California that is $240K underwater and we have it up for Short-sale. My first lender is ING, which is a non recourse loan and my second is Navy Federal Credit Union, a recourse. I owe NFCU $80K. I have talked to a real estate lawyer about the ins and outs of SS, DIL, and foreclosure. We are fortunate to have a house in Virginia, that we purchased while in the Navy. It has been rented out for the last 16 years. We owe $40K on that house. Here's the rub. It is also financed by NFCU. I am thinking that they are never going to settled on a short-sale or Deed in Lieu. We will probably go through foreclosure. When that happens, NFCU will come after me because they see the Virginia home. In 3 weeks we are moving back into the Virginia home. I talked to a Virginia BK lawyer's secretary (no VA lawyer seems to want to talk to a California dude) she said we would have to live in VA 3 years in order to file BK. My questions are upon foreclosure 1. How do you foresee NFCU proceeding, with things staying the way they are now? 2. What do you recommend us doing? I also realize the Tax Forgiveness Act of 2007 is due to expire 12/31/12. All advice will be appreciated. We served 30 years in the Navy and Navy Federal has always been great, but unfortunately we have to take the steps we are taking to survive. Thanks.

[egeitz]

served is not good enough your gf had be to retired armed forces.

[Silver26]

Does anyone know if you need to have contact with say a grandparent who served? My grandfather was in the navy but I haven't spoken to him in 20 years. Curious if thats enough.

[discombob1]

I'm curious, when so many banks are paranoid about high credit limits, how can Navy Federal be so different? I'm mostly curious. Thanks!

[railslave]

thanks to nfcu, i was approved for a 20k limit card.

[skierbri99]

I BK'ed NFCU. They were vicious, and yes I suffered from the cross-collateral stuff. I am still a member and get monthly statements on my near-empty NFCU acct, though... go figure... I am going to wait several years and go crawling back to them when I get the chance.



I work in credit card services for USAA. I got the job shortly after my bk... heh, I was terrified they would not hire me because of it, well, surprise, surprise. USAA does come down fairly hard on those who are not in good standing.

I had a charge off through NFCU and USAA, just yesterday I got around to re-establishing my accounts at both. They are both back up, checking at USAA and a savings at NFCU, the guy at NFCU said I should have no problem re-establishing my checking there but I might have to get a second chance account. Not sure if there is much of a difference but I will try.

[iswmle]

I BK'ed NFCU. They were vicious, and yes I suffered from the cross-collateral stuff. I am still a member and get monthly statements on my near-empty NFCU acct, though... go figure... I am going to wait several years and go crawling back to them when I get the chance.

when i was in the army one of my jobs was dealing with navy and usaa when soilder was late with there payments or/and bounce checks etc. and dealing with them is hell. they are meaner then hell dogs,july in hell.

I work in credit card services for USAA. I got the job shortly after my bk... heh, I was terrified they would not hire me because of it, well, surprise, surprise. USAA does come down fairly hard on those who are not in good standing.

[Amy26]

Yay! I'm excited... I just applied for a credit limit increase on my nrewards visa... went from 3,500 to 8,500 in about 3 hours. So, now I have a MC at 5,000 and my visa at 8,500. Happy day!

[Gabe]

Thanks for the Tip on Navy Federal CU!

My BK was discharged in Jun 08.

Since then I got the Hooters card in July 08. Starting Credit Limit $750. It is now $1850.

Today I applied for a Capital One. They gave me $500 (whoop de do!)

Then I setup a new checking and savings account with Navy Federal and applied for a CC. They gave me a whopping $16,000 Credit limit. I am blown away. (Prime + 11.9)

Not too shabby. Thanks again!