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New Contributor
Posts: 94
Registered: ‎03-29-2017

NAVY FEDERAL FEVER!!!!

I have a question for you guys. I finally got  approved for a refinance through Navy Federal, and I also have a Platinum Card with them for $22,100 and a CLOC for $5000 dollars for about 4 months now, do you think I should wait a little longer to pay down some of the debt on my Platinum Card & CLOC before applying for a Cash Rewards Card and asking for a  CLI for the CLOC? I used about 45% of the limit and my scores range from about 650 - 680 on all 3. Also just FYI, I applied for CLI for Platinum 91 days after and they denied my request because of my original SL was so high, I believe. Please let me know what your thoughts are.  I am itching to apply for that Cash Rewards Card and ask for $15K for the CLOC. 

Valued Contributor
Posts: 1,301
Registered: ‎01-31-2008

Re: NAVY FEDERAL FEVER!!!!

I would certainly try to reduce your utilization. 45% of $22,100 is $9,945. Get that below 9% unless you have a 0% balance transfer that is saving you money.

Senior Contributor
Posts: 8,131
Registered: ‎04-23-2016
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Re: NAVY FEDERAL FEVER!!!!

You could still try butagree with Appleman, reduce your utilization 1st. It may helpSmiley Happy
Established Contributor
Posts: 794
Registered: ‎06-02-2016

Re: NAVY FEDERAL FEVER!!!!


Exquisite100wallet wrote:

I have a question for you guys. I finally got  approved for a refinance through Navy Federal, and I also have a Platinum Card with them for $22,100 and a CLOC for $5000 dollars for about 4 months now, do you think I should wait a little longer to pay down some of the debt on my Platinum Card & CLOC before applying for a Cash Rewards Card and asking for a  CLI for the CLOC? I used about 45% of the limit and my scores range from about 650 - 680 on all 3. Also just FYI, I applied for CLI for Platinum 91 days after and they denied my request because of my original SL was so high, I believe. Please let me know what your thoughts are.  I am itching to apply for that Cash Rewards Card and ask for $15K for the CLOC. 


IMHO, I think you were denied because you have probably reached your internal maximum amount with NFCU. Also, I agree with the others, that it's best to get your UT way down, to <9% before applying for a CLI or another CC.

 

GL to you.


|| NFCU Signature $16.5K || NFCU Platinum $7.5K || Macy's $7.5K || Discover IT $6K || Chase FU $5K || CitiCostco $4K || CitiDC $3.3K || NFCU CLOC $1K ||
Established Contributor
Posts: 772
Registered: ‎03-18-2009
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Re: NAVY FEDERAL FEVER!!!!

[ Edited ]

Wrong advice above., navy loves high balances they don't care when cli, they care more about your income first. Also since they give u big sl on first card go for second card (you should get close to half of 1st card sl)..and when cli dont go 91 days go more like 93 / 94 days.

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