Applied for NASA FCU Visa

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otter
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Applied for NASA FCU Visa

Postby otter » Tue Sep 23, 2014 8:20 pm

Well, did what I said I would never do again... apply for the latest hot card @ fico. For those who are new to these boards- every so often someone on fico "finds" an obscure card with rewards, CL's, and/or liberal underwriting which seem too good to be true and it takes off like a wildfire. Some of the most recent ones were Huntington Bank, PenFed Fort Knox, and the infamous OCCU (ie Duck/Beaver) Cards.

The OCCU card was a classic example of a relatively small credit union unprepared for 21st century communication as they quickly overextended themselves and then realized their mistake after the fact.

What happened next is a source of much debate (and if you asked Member or others who have/had the cards, they may vehementy disagree with my take on what happened), but I think everyone agrees that (1) There were those who were extended credit who should have never gotten it from OCCU (see this postif you have doubts about that).(2) The way OCCU went about closing accounts was dishonest and probably unethical. Lying about "security breaches" and telling people you are closing their account because they are not a member of the credit union (not true- I was never a member of OCCU but was not closed) isn't a good way to do business, especially in the internet age where it is easy to "compare notes" with others.

So like a dog returning to their vomit... I apped for the new fico craze. Got the 3-5 message from NASA but I think based on some of the other approves, I should get in (someone with a comparable score/income got 25k and they have a bankruptcy- which I don't). If I get something comparable, the Duck is dead. I think I've gotten in early enough with NASA because eventually they'll probably tighten up their criteria.
In my Wallet:
  • Amex PRG NPSL[3-14, bd 91]
  • Sallie Mae MC $8000[1-14]
  • Chase Freedom $4700[1-14]
  • Discover It $2750[8-13]
  • BoA UCF Alumni Cash Rewards $5000 [3-15]
Sometimes in my Wallet:
  • GM BuyPower WEMC $5000[9-14]
  • Wells Fargo Propel 365 Amex $7000[4-14]
  • Barclaycard Arrival WEMC $7000[3-14]
  • BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450


popamode72
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Postby popamode72 » Tue Sep 23, 2014 8:26 pm

Good luck and I hope you get the card! Apparently it's a SP on EX according to the Credit Pulls Database and also to join the credit union itself. Sounds way too good to be true.

Double Cash is also a big trend on MyFico too.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

MemberSince99
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Postby MemberSince99 » Tue Sep 23, 2014 8:40 pm

I agree with your take on the Duck/Beaver cards otter (I think an Otter card would be cool). They are pretty clearly a very unethical company.


Good luck with NFCU you'll have to let us know how that shakes out.

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otter
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Postby otter » Tue Sep 23, 2014 8:56 pm

popamode72 wrote:Good luck and I hope you get the card! Apparently it's a SP on EX according to the Credit Pulls Database and also to join the credit union itself. Sounds way too good to be true.

Double Cash is also a big trend on MyFico too.


Thanks... I hope it will be my new highest card so I can kill the duck. I have been apping more than usual because I've just gotten a new car, backdating of 23 years on my Amex cards, and don't anticipate applying for anything big for a while. I'm not going to go B&T or FMC app crazy, but I'm not going to be hardcore about gardening.

I think the Citi Double Cash is one of those cards you expect to be big on fico because it's by a major prime issuer. The ones which amaze me are the obscure banks and especially credit unions which go viral over there. Imagine you're an underwriter at a small credit union and you average maybe 20 credit card apps a week. Sure, you might be a little more generous with CL's, but cards aren't a big part of the CU's portfolio. You might not even be the only analyst who reviews credit card apps- your CU is small so everyone does mortgages/auto loans/personal loans, etc. All of a sudden, you go from 20 apps a week to 50, then 500 then 7000 and so on... you... you would think these credit unions would be cautious initially instead of waiting until the "fixmycredit's" jump into the pond...
In my Wallet:
  • Amex PRG NPSL[3-14, bd 91]
  • Sallie Mae MC $8000[1-14]
  • Chase Freedom $4700[1-14]
  • Discover It $2750[8-13]
  • BoA UCF Alumni Cash Rewards $5000 [3-15]
Sometimes in my Wallet:
  • GM BuyPower WEMC $5000[9-14]
  • Wells Fargo Propel 365 Amex $7000[4-14]
  • Barclaycard Arrival WEMC $7000[3-14]
  • BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450

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lobbythis
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Postby lobbythis » Tue Sep 23, 2014 9:25 pm

Well, this is interesting. Thanks for sharing. Totally new to me.

Can't tell if it's just an awesome trick/loophole or risky business with the way you described it though.

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djrez4
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Postby djrez4 » Tue Sep 23, 2014 11:18 pm

Jesus, what a cluster over there.
[RIGHT][size=100]- Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -[/size]
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CarefulBuilder14
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Postby CarefulBuilder14 » Wed Sep 24, 2014 12:04 am

So is NASA going to be a card you actually use? Or it's a straight-to-sock drawer card?

Did you ever end up buying any hunting gear? If not, you seem to have a lot of hope that they won't just end up closing the card.
Very useful: SchwabPlat, CSP, IHG, Costco (was AA Plat), Freedom, SPG, Prestige (retention)
Somewhat useful: Discover, ED (was EDP), BCE, Hyatt
SD with activity alerts, might close: Arrival

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech, BofA Travel PH, Aviator Red

MemberSince99
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Postby MemberSince99 » Wed Sep 24, 2014 6:34 am

The problem with the Citi card is - it's by Citi. A couple of inquiries and they go all 09 and think you are a terrorist to credit. And good luck doing a recon with them, you'll have to go all the way to the top of the chain.


After having a card with them, I'm unimpressed enough that I don't plan to get one again. I'm sure they would decline me for inquiries in any case (or not carrying a balance as I don't have any balances on any cards) but I don't really care if they offer 20%, I'm not interested in Citi.

popamode72
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Postby popamode72 » Wed Sep 24, 2014 9:00 am

MemberSince99 wrote:The problem with the Citi card is - it's by Citi. A couple of inquiries and they go all 09 and think you are a terrorist to credit. And good luck doing a recon with them, you'll have to go all the way to the top of the chain.


After having a card with them, I'm unimpressed enough that I don't plan to get one again. I'm sure they would decline me for inquiries in any case (or not carrying a balance as I don't have any balances on any cards) but I don't really care if they offer 20%, I'm not interested in Citi.


Yup. It's literally impossible for even the EO to overturn a decision based on too many inquiries and not even being a Citi customer for a long while helps with that either. They are really strict on how many inquiries one can have in the last six months.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

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Postby Vattené » Wed Sep 24, 2014 11:55 am

There is a difference between being a "conservative lender" and losing out on customers because of unwise practices. Their loss, though.
-Vattené
FICO-8:
EX - 827 (4/17) | TU - 812 (4/17)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now



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