Minimum Income to apply for credit?

[ordnance1987]

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@Scupra wrote:

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@ordnance1987 wrote:
I called, they said it was something in my credit report but they could not access it so they could not tell me why. Then they read a script about being entitled to a credit report once a year blah blah blah. They said I should receive a letter in the mail in 7-10 business days, so I guess I'm SOL on that. I tried to talk to the CC department but I had to go to class. Do you have a template for the butt kissing message? Do I send it through the secured messaging where it shows my cc approval and navcheck denial? Another question my nfcu cc started reporting and all my scores went up a little bit except for EQ it went down a few points. Is there a reason why that one went down and the rest up?

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Forgot to touch on this, sorry! Where are you checking your scores from? There is probably no rhyme or reason to spend too much time thinking about. They all have mythical algorithms that none of us know. It will rebound as both the TL and INQ age 

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They are the myFICO scores. I bought the subscription because I thought I could check my CRs every month but I can only get them once a year. At least it updates me when there is a change I guess. Will keep you updated after I send them a message, see what they say.

[HopeMission]

"They are the myFICO scores. I bought the subscription because I thought I could check my CRs every month but I can only get them once a year. At least it updates me when there is a change I guess. Will keep you updated after I send them a message, see what they say."

I hear you say they have yearly and a lot more expensive monthly CS monitoring.  They also have one that check all three credit bureaus.

I think they used to have a Quarterly monitoring for Transunion for 14.95/mo   = 179.40 year

I talked to the MyFIco rep on the phone and they said Im on a quarterly monitoring (Transunion only) at 49.95 is the cheapest they offer. They don’t even offer it anymore. 49.95 was the cheapest to reneiw on phone, email or auto renew… their all the same.

[ordnance1987]

Yeah it is expensive, when I log on it shows some other three score and report view for $41.89 but it is only to view them one time.

@Scupra: I sent them a message and they messaged me back saying to apply for a CLI online or to call to fill out the application. Should I just apply online and waste another inquiry? If I do, do I ask for more like the other thread says and hope they counter?  I'm probably not going to apply for anything else for another six months like the bk7 to 700 plan says.

[Scupra]

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@ordnance1987 wrote:

Yeah it is expensive, when I log on it shows some other three score and report view for $41.89 but it is only to view them one time.

@Scupra: I sent them a message and they messaged me back saying to apply for a CLI online or to call to fill out the application. Should I just apply online and waste another inquiry? If I do, do I ask for more like the other thread says and hope they counter?  I'm probably not going to apply for anything else for another six months like the bk7 to 700 plan says.

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Odd, since you were just approved I was hoping they would use the same pull.. I would just wait 3-4 months and start the CLI game. It will grow very quickly don't worry!

[ordnance1987]

Ok, sounds good. Do I charge everything to it instead of using my debit card? Then pay it down to <10% before the statement cuts, and PIF after the statement cuts before the due date? I use my debit card a lot so I'm probably going to have do more than one payment before the statement cuts. When I'm ready to apply for a CLI do I just ask for 25k and hope they counter since the first one is a HP? Or do I ask for less since I have low income?

[Scupra]

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@ordnance1987 wrote:
Ok, sounds good. Do I charge everything to it instead of using my debit card? Then pay it down to <10% before the statement cuts, andPIF after the statement cuts before the due date? I use my debit card a lot so I'm probably going to have do more than one payment before the statement cuts. When I'm ready to apply for aCLI do I just ask for25k and hope they counter since the first one is a HP? Or do I ask for less since I have low income?

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This is why I love, love, lovvvvvve NFCU. When I run a charge through my credit card I login to mobile banking right away and make a payment to that card for the exact amount. Having your util at 10% is just to maximize your FICO score, because you don't plan to app for anything don't worry too much. If your card reports a $0bal rather than $40-$50 you may see a score drop but your score has no memory. Just remember to have one card report 10% or less and all others $0 before apping for anything.

When you go for the CLI do it online and ask for $25k every time. I know it seems weird but it works They will counter with max.

[ordnance1987]

Ok thanks, I think I will still keep it under 10% just to make it a habit. Does it matter if I run my card close to its limit then pay it down as opposed to making a purchase then paying it off right away? How long does a payment from an external bank account take for NFCU?

[Scupra]

No, how often you make a payment does not matter. NFCU is where I have all my business so it's just easy for me to transfer from checking to credit card in seconds. I have never pushed a payment to Navy from an external account, again because I have all my business there.

[ordnance1987]

Ah ok, I should probably consolidate my bank accounts or figure something out.. I have different accounts in different banks, I have my weekly spending money in an account, bill money in a different account, savings in one, e-fund in a brick and mortar bank in case i need to deposit cash and another account for misc.