This Navy Federal Credit hack is so good it should be illegal! It is wonderful for boosting your
credit if you do it wisely and I'm going to tell you exactly how to do that so let's hop right in
Hey everyone it's me, Jazzy Mac! Before we get started I would sincerely appreciate it if you
give me a like and a SUBSCRIBE to show your appreciation in advance for this wonderful
information that I probably should not even be telling you! and no this video isn't even
sponsored by Navy Federal but uh Navy if you want to do some stuff because I'm putting this good
information out here then hit your girl up now as you all know I've done a previous video about Navy
Federal where we talked about the ten thousand dollar credit card hack where you basically get
this ten thousand dollar credit limit by applying after 11 pm um in your local time zone and so many
of you like came back and said Jazzy not only did I get approved but I got twenty thousand, I got
$25,000. I actually saw someone that got $55,000. Now imagine, if you don't use the credit card,
like if you get approved for that much imagine what that does to your credit. You now have this
High credit limit with a $0 balance and your utilization rate is going to go low which makes
your credit score go high so this is why we love to do like these types of hacks. um but I want to
give you some background information when it comes to this Navy Federal pledge loan who qualify eyes
um who would be an ideal person that could do this and who should probably not try this now
when it comes to Navy Federal in order for you to get an account you do have to either
be prior military or government or you know have worked at like the Pentagon or something
like that you can be current service or prior service when it comes to military affiliation
you do not have to only be affiliated with Navy if you're not affiliated with the military or
the Armed Forces or the government you can get a Navy Federal account if you have some
sort of referral either through a spouse or if your parents served in the military or
um if someone in your household such as a brother or sister served in the military so a
lot of people say well Jazzy if I have bad credit should I do this well that depends Navy Federal is
one of those institutions that are just they're a lot more lenient they're a lot nicer they're
not as like stringent when it comes to credit check require environments now they do still
check your credit but a trick that you can use is going to the Navy Federal website or in the app
um and doing the pre-approval process which is just like a really quick 60 second application
that shows you it does a soft inquiry which means it doesn't lower your score when you do
the pre-approval it will show you how much you're eligible for if you're applying for the cash
rewards card or if you're applying for a different type of loan I will recommend doing that first now
if you do the pre-approval and you're like denied or it says that they can't approve you um I would
not go and proceed with the actual application I would understand why it's saying that I can't
be approved at this time or if there are any things like it's saying High credit utilization
or too many recently opened accounts I would understand and address those things that they put
in my little decision letter before applying for anything so you can do the pre-approval if you're
unsure about where you stand but for those of you that do have the current Navy Federal account and
you know that you're in decent standing if you say well I currently have a 620 credit score I want to
get it to over a 700. how's how can I do that by utilizing um a Navy Federal pledge loan now the
numbers and credit score increases are going to vary over time according to your payment history
and how responsible you are with you know these accounts so here's the hack you would take any
amount let's say between a thousand dollars or up to ten thousand dollars just say for purposes of
this video you deposit a thousand dollars into a savings account you then apply for the Navy
Federal pledge loan which you are essentially borrowing money from yourself which is why it's
called The Pledge long you're pledging the money and you have the amount that's in that savings
account that is going to be the amount that is equal to the loan amount now the smartest thing
for you to do is when you apply for that loan and you're approved go ahead and pay down 90 of
it I'm talking about within a couple of days of getting approved for it pay it down because you
don't want to be tempted to like spend it and have this lingering balance out there the balance that
you're left with is going to be 10 of whatever you deposited what's great is that this gets
reported to the credit bureaus and at the time of this recording if you have a current account with
navy if you do business with them generally they don't uh do a credit check if you already have
like credit cards with them or if you already have checking accounts but still check you know because
things change but that's one of the things they reported to the credit bureaus and usually people
see within 30 to 60 days they've got this high limit account with uh you know very low balance
and they see over the next 30 to 60 days where their credit score increases coming rapidly
because now you have a new type of account that's reporting and you've got something with very low
utilization those are all things that help your score and of course the payment history starts to
report and you can keep you know that 10 percent balance that you've had you can pay that off over
the next few months just to keep the account open now some people take these loans and they kind of
recycle it just to keep the loan itself open so that it can continue to report but I don't think
that's something that you should be doing uh more than for a few months because once you see
that credit score shoot up and once you've got that perfect payment history starting to report
um you know you just want to make sure that your operating responsibly and that you are not just
going out here getting all these different loans from different companies because there is a such
thing as having too many loans so I would just keep it with my one Navy Federal Loan and maybe
my One credit card so that I can have a positive mixture of accounts because mixture of accounts is
also how your credit score is partially calculated and that's it that is the hack this is again for
people with current Navy Federal accounts if you've ever had a credit card if you've ever
had any type of loans with Navy Federal this is for those people that are in good standing with
Navy Federal I cannot guarantee how this is going to work out for people that are credit challenged
meaning that you have less than a 620 or for people that say well I don't have a Navy Federal
account and I'm enrolling as a very new customer um sometimes Navy Federal will audit the accounts
so that's why you want to make sure that you never buy a referral from people you should only
be referred by people that you actually know and that are affiliated in the military um and again
you need to be aware of your credit situation before you do any of this so this is why it's so
important to do the pre-approval process so that you know where you stand once you know where you
stand then it's totally up to you to do the pledge long um as just a way of kind of fast tracking
your way to you know maybe a 40 Point increase 50 point increase I've seen people actually get like
a 70 point increase over the next few months when they did this hack so it's going to vary
for everyone based on you know different uh spending habits and how responsible you are
with actually paying the loan down but let me know in the comments if you've ever done this and you
know I want to hear your success stories and until the next time I will see you in the next video bye