Navy federal late night hack! $17k approved after denied from others
Wow that’s so cool! I’m hoping to find a loophole to get into Navy federal lol
More on reddit.comIf you ever get hacked and you use NFCU for your checking, make sure to only use their bill pay!
Navy Federal Datapoints Thread for Membership, CLI... - myFICO® Forums - 6336608
NFCU Pledge Loans 90% "hack"
I believe the rationale is that if you pay it down too much too early, then there's a chance that they just automatically pay off the rest of the loan and close it prematurely (rather than keeping it open for the full 60 months), which means you'd lose the benefit of having that open SSL. Whereas, paying only 91.1% at the outset and then gradually paying off the remaining balance over 60 months is the minimum paid balance threshold needed to yield the full benefit of having a low remaining balance while still giving you plenty of runway to pay off the remaining balance over time without the danger of the account being prematurely settled. I don't have any strong data points to back this up, though. You might try asking asking on the myFICO forums.
More on reddit.comI have a high utilization rate and I was looking for a credit card to lower my utilization and that brought me to navy federal.
I was active duty now medically retired. Opened this account in 2009 but never used it from 2015 until a few days ago. So I logged in and prequalified and saw all cards available to me. Then I waited until 10 pm mst and applied. I got the please wait 24-48 hours but I got an email when I woke up the next day saying I’m approved (1 am).
$17000! Can’t really believe it but the late night hack works. I applied for other cards but was denied since I’m in the mid 600s for my score.
Glad I never closed this account even though I asked them to close it years ago, it stayed open.
Wow that’s so cool! I’m hoping to find a loophole to get into Navy federal lol
Navy Federal appears to be good to long time members. My Bro-In Law applied for a card through NFCU (member for over 10 years) approved for 16k despite poor credit, debt and multiple flags of risk. Sister (member for 5 years) applied and approved for nearly the same amount with about roughly the same credit/debt background.
And then comes lil 'ol me. NFCU member almost 8 months, applied and approved for a whopping 1,000 despite excellent credit history (over 750 score) overall debt under 5% and no derogatory marks. Hopefully a decent CLI will come my way when I apply for it.
Is there any particular reason 90% is the often touted magic number? Why not just pay $9900 on a $10000 pledge loan for 60 months and then pay a couple dollars a month til the 60 months is up?
You'd get more of the money back immediately, you'd show a lower remaining balance of only $100 on a $10000 loan. Those both seem better than just 90%.
Is there some logic the internal NFCU score uses that if you pay off over 90% immediately it dings their internal score or what?
I believe the rationale is that if you pay it down too much too early, then there's a chance that they just automatically pay off the rest of the loan and close it prematurely (rather than keeping it open for the full 60 months), which means you'd lose the benefit of having that open SSL. Whereas, paying only 91.1% at the outset and then gradually paying off the remaining balance over 60 months is the minimum paid balance threshold needed to yield the full benefit of having a low remaining balance while still giving you plenty of runway to pay off the remaining balance over time without the danger of the account being prematurely settled. I don't have any strong data points to back this up, though. You might try asking asking on the myFICO forums.
I’m sure it’s just because 10% is a nice round number.
I joined Navy Fed on Friday, December 29th 2023. I added $250 to open the savings account. My available balance is $245. I also opened a free checking account. My debit card wasn't going to be delivered until Tuesday, January 2nd 2024. So I activated it digitally and waited for Zelle to be able to detect it in my account (8 hours). I transferred $300 from my external bank account into my Navy Fed checking account. It posted immediately.
After doing a little research about Navy Fed's credit cards, I decided to check their prequalification page for credit cards. All 6 of the cards were shown to me. Before I applied, I paid for all 3 credit scores and reports from MyFico. I know that your credit reports are free once a week now from all 3 credit bureaus. Your true Fico scores are not. My TransUnion Fico 9 score was 689. On New Years Eve at 9:15 pm PST I applied for the Cash Rewards Card. I was approved for a $20,000 line of credit.
I received a letter from Navy Fed with my internal score on it. It was 317. I don't know if it was the late night hack that worked (it was 12:15 AM EST). Or if there were other things that played a part in my approval and my credit line. I joined on 12/29/23. Opened a savings and free checking account. Total deposits $550. That's it.
Late night hack is FALSE and does not matter what time of night you applied. There are many factors at play. Time of day is not one.
Congrats! I plan on applying in a year or so. I’m going to do the pledge loan route despite the fact that my credit score is a 740 currently.