04-28-2013 08:40 AM - edited 02-12-2016 07:45 AM
You have a Q?
I have an A!
Q: Is it possible to know before requesting if my account will be eligible without a HP?
A: If you access your full Equifax report and look at SP/Promotional Inquiries you will see (NAVY AR) and they will be every 3 months like clock work once you see the first one... IF at any time you are going to have a better chance of a sp increase it will be after that AR has been done.
Q: I currently only have a $1k limit, won't asking for $25k just get my request Flat out Denied or HP for sure because of the large request?
A: All data shows that Navy allows requests up to $25k without review IF your account is eligible so if you request just $5k and it's instantly granted than you have left CL available to you by not asking for the full $25k and getting the instant counter.
Q: I get a message "A CONDITION EXISTS ON MY ACCOUNT AND I NEED TO CALL" Does that mean a SP CLI is not available?
A: This is an INTERNET ERROR with Navy, it has nothing to do with your account being able to get a CLI or not... you need to use Firefox, Chrome, Clear cookies, Clear Browser history and close out and restart in one of those browsers and try again. DO NOT CALL!
Q: I have been thinking about a Second Navy Card OR I applied for a Second Navy Card but was declined?
A: Navy use to allow you to use credit from an existing card to open a 2nd card, but they no longer will move CL's.
Q: When should I apply for NAVCheck/Checking Line of Credit (Navy has changed the name I believe) and for how much?
A: 1. Join Navy. 2. Apply for a Credit Card. 3. Apply for NavCheck 4. ALWAYS ASK FOR $15k (Just like with Credit Cards, Navy will counter if not the full amount and you can't ever ask for to much, it's called a counter for a reason!)
**In some instances for those that are in the low 600's or fresh out of a BK, Navy will deny and not counter a $15k ask but you can go back in and submit another application for $500 or $1k and many have had success getting in the door this way on the CLOC. If you can get approved at a low amount, then my general rule is usually after your first big CLI on credit card to then ask for the full $15k CL on CLOC. You request CLI on CLOC by going in like applying for a new CLOC and then the next page will ask if you are applying for new or CLI existing.
Q: When should I apply for my 2nd Navy Card?
A: EITHER when you hit $25k on your first card within 6 months OR After you successfully get your first SP CLI (Usually 3-6 months in my opinion).
**2nd cards are more difficult to get than in the past, some have best luck getting 2 cards back to back right in the beginning
Q: I received NavCheck but not for the full $15k, When should I go back and ask for CLI to $15k again?
A: After you successfully get your first SP CLI on your 1st credit card (It was about 3 months after opening for me)
***If you have high income and are willing to show it... sending in last 2 paystubs via secure message with a large ask or a recon on a 2nd card will go a long way!
Keep in mind an instant $25k approval on a credit card is the most the computer can give but if you send in 2 paystubs and CLI for the max of the card you applied for $50k or $80k if Flagship, they will do a manual review and counter you the real internal limit they will currently offer on that card... Take full advantage of those HP's!
04-28-2013 08:51 AM
04-28-2013 08:55 AM
I hope thats right Creditaddict, If not I will have like 20 hp's for all that instant. I will not ask for anything for another 5 years lmao...
You are one of the latest that I hope confirms my thinking of just asking for $25k right out of the gate because you had to go back 10x and others have done this recently.
The only experience I have is on my partners card and he was at $25k and asking for $35 resulted in 3-5 day and a HP but was approved, so I don't know if that's a over $25k thing or if he just would have gotten the HP regardless.... I hope to soon be adding some more cards so I can test the theory more later possibly! haha but for now....
I think the other added note is Navy doesn't much seem to care about INQ, even if they do pull!
04-28-2013 09:33 AM
My experience is this regarding the length of time open before sp's are used.
Opened 12/22 - $2K recon to $5K
Requested CLI 3/10 - HP $7.5K
Requested CLI 4/8 - SP $10K
Requested CLI 4/24 - SP $15K
Requested CLI 4/25 - SP $20K
Requested CLI 4/27 - SP $22K requested $25K and countered at $22K
So on 4/8 I might as well have requested the full $25K and I would have gotten the counter !
04-28-2013 10:32 AM
Uggh I am still too scared to hit the button..lol The success stories are killing me!!!
04-28-2013 10:38 AM
I'd had strictly auto-CLIs from a starting limit of 5k up to 10.5K where it was currently. Decided to give this a try - asked flat out for 25,000 and they countered with 12,500. Soft pull. I'll have to keep doing this every once in a while! Thanks for the tip.
04-28-2013 10:44 AM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.