Navy Federal Shredding Event 2023 (2025)

FAQs

Does Navy Federal do a hard pull? ›

Our inquiry will result in a “hard pull”—a note on your credit report that a creditor checked your credit file to assess your risk to them. Hard pulls could impact your credit score, depending on how recently you've applied for credit— so you want to be pretty sure of what you want before you let a hard pull happen.

Navy Federal typically uses TransUnion for credit card applications. However, they may pull an inquiry from any of the three major credit bureaus (Equifax, TransUnion, and Experian) when evaluating a credit card application.

No. A joint owner shares access to your account but isn't necessarily a member of Navy Federal. To become a member, you or one of your family or household members must have ties to the armed forces, DoD or National Guard.

NFCU does not have a minimum credit score requirement; however, borrowers with higher credit scores have a better chance of qualifying and receiving favorable terms. We recommend a minimum score of 670.

We like to see at least three months of on-time payments on an existing Navy Federal Credit Card account before approving an increase to its credit limit. We generally grant credit limit increases on an existing credit card account no more than once every six months.

Our FreshStart Checking is a second chance account for those who may have a record of accounts in unfavorable standing with other financial institutions. Mistakes are made but should never define who we are.

You can file by secure online message, phone, at a branch or by mail. eMessage: Sign in to your Navy Federal account at navyfederal.org and send us a secure message. Initiate a New Message by selecting the checking account associated with your debit card and use the reason Dispute a Recognized Card Charge.

You can apply for a secured credit card, become an authorized user, and make sure you pay your bills on time. With those simple steps you could be on your way to building up your credit so you no longer feel like a ghost.

Credit unions with no ChexSystems. Six credit unions that don't use ChexSystems are: PenFed Credit Union. Navy Federal Credit Union.

We're required by the IRS to report combined dividend earnings on members' deposit accounts.

Is Navy Federal backed by the government? ›

A Strong Foundation. Your accounts are backed by Navy Federal Credit Union's assets and reserves. We invest your savings primarily in loans to fellow members. The National Credit Union Administration (NCUA), a U.S. Government Agency, insures your savings up to $250,000 and the funds in your IRA up to $250,000.

Our membership is open to Veterans and their families, too. So, whether your grandparents, parents, siblings, spouse, children or even your grandchildren served, you can join the Navy Federal family.

Member-Owned, Not-for-Profit

We're a member-owned and not-for-profit credit union exclusively serving the military, veterans and their families. Our members are owners, not just customers, and each one of them has a vote.

As the largest credit union in the country, Navy Federal serves those who meet its membership requirements with an array of affordable banking options. While there isn't an extensive number of physical locations, its lower loan rates and higher savings interest are attractive draws to many. More than 30,000 free ATMs.

The Navy Federal credit card approval requirements include a credit score of at least 700 (good credit), in most cases. You might be able to get other Navy Federal Credit Union credit cards with bad credit. You also have to be an NFCU member to apply for one of their credit cards.

Navy Federal will do a hard credit check when you apply, so your credit score could temporarily dip. Make a plan to repay the loan. Navy Federal reports payments to the three main credit bureaus (Equifax, Experian and TransUnion), so on-time payments will help build your credit score, but missed payments will hurt it.

If you have two Navy Federal credit cards, it is possible to request CLI for both on the same day, with a soft pull within the app. However, calling for a CLI may result in a hard pull.

Does Navy Federal Conduct a Hard Pull for Membership? Navy Federal does not carry out a hard credit pull when you apply for membership.