How to Increase Your Navy Federal Internal Score

(April 2024)

How to Increase Your Navy Federal Internal Score

In This Article

Looking for ways to increase your Navy Federal Navy internal score? Maybe your last credit card or loan application with Navy Federal was not successful—and part of that rejection had to do with a low Navy Federal internal score. If that’s the case, this article is for you.

To increase your NFCU internal score and get a “yes” from NFCU the next time you apply for credit, here are some helpful tips to apply:

  1. Understand What the Navy Federal Internal Score Is
  2. Maintain a Healthy Banking Relationship With Navy Federal
  3. Build Your Credit History
  4. Avoid Opening New Revolving Credit Accounts Often
  5. Reduce Credit Inquiries
  6. Stay Current on Your Current NFCU Credit Accounts
  7. Stay Current on Your Non-NFCU Credit Accounts

1. Understand What the Navy Federal Internal Score Is

The Navy Federal internal score is similar to the FICO score, with the exception that it ranges from 100 to 450—whereas the popular FICO score oscillates from 300 to 850. The NFCU internal scoring model accounts for:

  • Your payment history,
  • The length of your credit experience,
  • Your utilization of revolving account credit lines in the last 3 months,
  • The ratio of accounts opened in the last 24 months to all accounts, and
  • The number of inquiries on your credit report.

There may be other factors, but these five are the biggies. So, here you have it. To increase your Navy Federal internal score, work on those five criteria.

2. Maintain a Healthy Banking Relationship With Navy Federal

Keep a healthy relationship with Navy Federal. Maintaining a good relationship with Navy Federal can be beneficial to you in many ways, including:

  • Getting approval for credit cards, lines of credit, and loans—auto loans, home loans, etc.
  • Getting high-limit approvals
  • Obtaining low-interest rates and mortgage rates.
  • Receiving great rewards, such as 0% balance transfers, cash rewards, signup bonuses on selected credit cards and no annual fees.
  • Improving your credit history, which boosts your Navy Federal internal score significantly.

To maintain a healthy banking relationship with Navy Federal, open a checking account and a savings account at a minimum.

Set direct deposit into your Navy Federal account, either partially or totally. Make monthly payments on time—all the time. One late payment can affect your credit, so avoid it by all means.

3. Build Your Credit History

If you have a limited credit history, your Navy Federal internal score will be low at the beginning—probably in the 100-200 range.
There’s nothing you can do about that. But over time, as you build more credit, your score will go up. Here are some tips to build your credit history:

  • Don’t apply for too many credits within a short period.
  • Open a secured credit card. Secured credit cards keep your spending within a certain limit, helping you to manage credit better.
  • Get someone to co-sign your account.
  • Ask a friend or any family member to add you as an authorized user on any of his or her credit account.
  • Pay all your bills on time—all the time. All unpaid credit cards, medical bills or any other bills appear on your credit report and impact your credit score negatively.

4. Avoid Opening New Revolving Credit Accounts Often

Don’t open too many credit cards and lines of credit if you want to increase your Navy Federal internal score. Having too many new revolving credit accounts sends the wrong message to Navy Federal.

They might be thinking that you’re in financial trouble, hence the desperation in having a large number of credit cards and lines of credit.

While a revolving credit helps you to always have cash available for expenses, don’t apply for too many to avoid a dent in your credit score.

5. Reduce Credit Inquiries

Pay attention to credit inquiries—and don’t apply to credit cards like crazy. Here’s what you should know: Hard inquiries stay on your credit report for up to two years and can harm your credit score.

Opt for cards that offer a soft pull, meaning you can gauge your approval odds without having an inquiry on your credit report and damaging your credit score further.

Don’t apply for multiple types of credit—credit card, auto loan, mortgage, etc.—at the same time. This has a heavy negative impact on your credit score because lenders see you as financially unstable and as such, a high-risk borrower. Once you take new credit, wait for some time before applying for another one.

6. Stay Current on Your Current NFCU Credit Accounts

Make payments on time—all the time—on whatever Navy Federal credit accounts you currently have.

Don’t play with this part; it’s important. It keeps you from paying late fees and positively impacts your credit score with Navy Federal. Set up an automatic recurring payment.

This allows automatic payment of a fixed amount of money into your Navy Federal account on the same date each month.

More so, pay an amount higher than your minimum payment each month. It’s all for your good; the more you pay each month, the faster your credit card debt diminishes and you also pay lower interest.

7. Stay Current on Your Non-NFCU Credit Accounts

To boost your Navy Federal internal score, stay also current on your other credit accounts. The thing is, if you make payments on your Navy Federal credit accounts but fail to do so on your other credit accounts, you’re still sending the wrong message to Navy Federal: That you may be in financial trouble.

Maintain a positive relationship with other credit unions—manage your credits well and make payments on time. Navy Federal is more comfortable with approving your credit when you’re current on your non-NFCU credit accounts.

Conclusion

To increase your Navy Federal internal score, understand what the score really is, maintain a healthy banking relationship with Navy Federal and gradually build your credit history over time.

Also, avoid opening too many revolving credit accounts, reduce credit inquiries and stay current on all your credit accounts—both from Navy Federal and other financial institutions.

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