mj11 Posted October 16, 2008 Report Share Posted October 16, 2008 After spending much time researching airplane loans (i know know) I decided to apply with NFCU for *hits and grins. Now mind you I have been a great customer for all of 10 months now, but I was approved.....for $82,000 with no money down, no questions asked. They pulled EQ (687). Throughout the course of the last 10 months I have opened up the go rewards mc with a $25k limit, flagship visa $5k and the navcheck loc $15K. I have used and abused the MC, running it up to $20k and paying it off, doing balance transfers and paying it off again etc. I have only used the visa once for a computer purchase $1200 and paid it off on the first statement and have not used the LOC. The interested rate was too high at 10.25% compared to traditional finance joints at 7% but it was an interesting experiment indeed. They never cease to amaze me. Aforementioned remarks were merely a comment on NFCU and not meant to elicit comments on borrowing money. Link to comment Share on other sites More sharing options...
CleverCynic Posted October 16, 2008 Report Share Posted October 16, 2008 Those tight-knit group cu's are generally fantastic. Not many of us can join though or get any benefits out of it Link to comment Share on other sites More sharing options...
sunset Posted October 17, 2008 Report Share Posted October 17, 2008 I got to join because my son is a Marine. We like them. Have 2CC's with them and just got an auto refi! Now, we only have to pay one bank for everything and it's oh-so-easy to pay online! Congrats on your new loan! Link to comment Share on other sites More sharing options...
cap1kid Posted October 18, 2008 Report Share Posted October 18, 2008 Heres another awesome thing I was able to do with NFCU- I got my auto loan rifinanced with them- only saved about 1/2%- but I set up a direct deposit account with them -160 every 2 weeks- then I automatically pay the auto loan BIWEEKLY- instead of once a month- so over the course of a year I make 26 payments of 160 rather than 12 payments of 320- just that little bit of extra payment on the loan principle will save me almost 2 1/2 years in payments- why let the money accumulate and earn pennies while the interest on the loans builds- they have a calculator on their website that shows how it works-my old loan with HSBC- I couldn't even set up a direct deposit unless it was within 7 days of the payment due date- I never touch the money going to NFCU and I will be saving a ton on interest-my 10.75% loan works out to a 4.04% in actual interest by doing the BIWEEKLY payments- I had to do a double take and recalculate when I saw how much I would save! Link to comment Share on other sites More sharing options...
tommy32 Posted October 18, 2008 Report Share Posted October 18, 2008 After spending much time researching airplane loans (i know know) I decided to apply with NFCU for *hits and grins. Now mind you I have been a great customer for all of 10 months now, but I was approved.....for $82,000 with no money down, no questions asked. They pulled EQ (687). Throughout the course of the last 10 months I have opened up the go rewards mc with a $25k limit, flagship visa $5k and the navcheck loc $15K. I have used and abused the MC, running it up to $20k and paying it off, doing balance transfers and paying it off again etc. I have only used the visa once for a computer purchase $1200 and paid it off on the first statement and have not used the LOC. The interested rate was too high at 10.25% compared to traditional finance joints at 7% but it was an interesting experiment indeed. They never cease to amaze me. Aforementioned remarks were merely a comment on NFCU and not meant to elicit comments on borrowing money. Do you need to be active duty to join NFCU? What are the requirements? Link to comment Share on other sites More sharing options...
virginiabound Posted October 19, 2008 Report Share Posted October 19, 2008 Do you need to be active duty to join NFCU? What are the requirements?http://www.navyfcu.org/about/membership_eligible.html Link to comment Share on other sites More sharing options...
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