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Senior Contributor
Posts: 5,190
Registered: ‎07-12-2012
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Re: Can we have "OFFICIAL NFCU CLI - HOW IT WORKS!"


fixmycred14 wrote:

I tried for a CLI 2 days ago and got the 3-5 message. Definite, HP. I sent a secure message and was told my request was denied. I should receive a letter in 7-9 days. I have no idea why my request was denied. However, after following CreditAddicts advice, I app'd for the LOC. Approved for 15K!!!!!!!! I'll try for a CLI at a later date. I'm just waiting for the loan doc/promissory note to sign anyday now.


Congrats on the LOC approval! Must feel great to be approved for the max! If you don't mind could you share income and score? Thank you!

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
732 EQ FICO 06/2017
740 TU FICO 06/2017
735 EX FICO 06/2017
$20k NFCU Platinum | $25k NFCU cashRewards Sig | $15k NavChek | $6.6k Cap1 Quicksilver | $10k Amazon Store | $14k Cap1 VentureOne | $16k Barclay Aviator | $5k Chase Freedom | $5k Chase Sapphire Preferred | $9k Costco Visa
Established Contributor
Posts: 553
Registered: ‎08-04-2013
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Re: Can we have "OFFICIAL NFCU CLI - HOW IT WORKS!"

Thanks! Scores are below. @ Scupra I sent you a PM.

 

Can someone explain how NFCU LOC works?


Starting Score: FICO TU 591 FICO EX 581 FICO EQ 555
Current Score: FICO TU 662 FICO EX 652 FICO EQ 643
Goal Score: 700 CLUB


Take the myFICO Fitness Challenge NFCU nRewards $20K Cap1 Secured $500 NFCU LOC $15K TJX $250 BOA $500
Epic Contributor
Posts: 29,350
Registered: ‎10-23-2007
0

Re: Can we have "OFFICIAL NFCU CLI - HOW IT WORKS!"


fixmycred14 wrote:

Thanks! Scores are below. @ Scupra I sent you a PM.

 

Can someone explain how NFCU LOC works?


they send you a checkbook you can write checks off of.

or if you use your debit card or write a check off your regular checking and it doesn't have the funds it will pull from the loc.

Super Contributor
Posts: 9,357
Registered: ‎07-17-2013
0

Re: Can we have "OFFICIAL NFCU CLI - HOW IT WORKS!"

Congrats on the LOC!!! I can't wait till I have some good news to post!! I'm hoping that my 6 mth mark will have a different outcome for me!Smiley Happy
(BK7 d/c-08/2013/FICO-400's)---> 04/2017 FICO- EQ-663, TU-676, EX-681
Scores being held down by tons of INQ/New acts Smiley Wink
Established Contributor
Posts: 553
Registered: ‎08-04-2013
0

Re: Can we have "OFFICIAL NFCU CLI - HOW IT WORKS!"

Thanks everyone! I searched for this thread....glad I finally found it! Thanks for the LOC clarification. Do you have to pay off what you spend in 30 days like overdraft protection?

Starting Score: FICO TU 591 FICO EX 581 FICO EQ 555
Current Score: FICO TU 662 FICO EX 652 FICO EQ 643
Goal Score: 700 CLUB


Take the myFICO Fitness Challenge NFCU nRewards $20K Cap1 Secured $500 NFCU LOC $15K TJX $250 BOA $500
Epic Contributor
Posts: 29,350
Registered: ‎10-23-2007
0

Re: Can we have "OFFICIAL NFCU CLI - HOW IT WORKS!"


fixmycred14 wrote:
Thanks everyone! I searched for this thread....glad I finally found it! Thanks for the LOC clarification. Do you have to pay off what you spend in 30 days like overdraft protection?

No it's a line of credit that carries about a 14.9% rate

Established Contributor
Posts: 553
Registered: ‎08-04-2013
0

Re: Can we have "OFFICIAL NFCU CLI - HOW IT WORKS!"

Oh okay. Thanks for the clarification!

Starting Score: FICO TU 591 FICO EX 581 FICO EQ 555
Current Score: FICO TU 662 FICO EX 652 FICO EQ 643
Goal Score: 700 CLUB


Take the myFICO Fitness Challenge NFCU nRewards $20K Cap1 Secured $500 NFCU LOC $15K TJX $250 BOA $500
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Valued Contributor
Posts: 1,772
Registered: ‎10-28-2011
0

Re: Can we have "OFFICIAL NFCU CLI - HOW IT WORKS!"

So my denial letter came.  For those of you who dont want to scroll through the previous pages,  I requested a cli on cash rewards to go from 3k-10k and on same day applied for navcheck got approved for 5k.

 

All of my accounts listed in my sig had zero balance except my plat card which has an 1800 balance and I also have a 16k remaining balance with them for an auto loan.

 

Denial reasons listed are

Income insufficient for credit line requested.

Too many credit obligations.

 

My income is 56k per year

NFCU plat 5k | NAVCHECK 5k | NFCU cashrewards 15k | BOFA 123 6k |
Chase Freedom 1.5k | Amazon 3K | Walmart 3K | Buckle 300 | AMEX BCE 2.5K | CHASE CSP 12K | CITI sears 6k | Kay 2k

On the prowl for Chase Sapphire Preferred! APPROVED 12K!
scores 7/14 647 622 630 (85%util)
scores 8/14 767 760 758 Boom! finally in the 700 club
Contributor
Posts: 77
Registered: ‎11-05-2012
0

Re: Can we have "OFFICIAL NFCU CLI - HOW IT WORKS!"

6.5K nRewards card CLI auto upgraded to 8.5k.  I called two days ago and had the card upgraded to Flagship Rewards.  Hit the love button and put in 10.5 k - instant approved.  82k salary - I probably could've tried for higher - any ideas if I should?

 

Regards.

Epic Contributor
Posts: 29,350
Registered: ‎10-23-2007
0

Re: Can we have "OFFICIAL NFCU CLI - HOW IT WORKS!"


jeffrey_MBP wrote:

6.5K nRewards card CLI auto upgraded to 8.5k.  I called two days ago and had the card upgraded to Flagship Rewards.  Hit the love button and put in 10.5 k - instant approved.  82k salary - I probably could've tried for higher - any ideas if I should?

 

Regards.


Jeffrey 83 pages I'm going to reach through this computer and hit the submit button for you... go back and ask for $25k, then you will get the system counter offer for the full credit line they think you can have right now.

Thank you.

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