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What is up with NAVY giving low CL CC these days?

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Anonymous
Not applicable

Re: What is up with NAVY giving low CL CC these days?

NFCU has shown me massive love,

 

I have gotten everything I asked for from them,

 

CLOC 15K best interest rate, Platnium instant aprroval 24K best interst rate SP only, SP to 25K after 91 days. 

 

Although not highest SL, I have a long postive history with USAA. 

 

YMMV.

Message 11 of 44
Shelia141
Valued Member

Re: Looking for CU CC with a High Limit... other than NAVY

I have Penfed AND Nasa :/

Message 12 of 44
Anonymous
Not applicable

Re: What is up with NAVY giving low CL CC these days?

NFCU has been very generous to me. I think they look for low utilization and of course on time payments.

Message 13 of 44
kilroy8
Community Leader
Super Contributor

Re: What is up with NAVY giving low CL CC these days?

I have to say that Navy Federal is a financial institution that I find way too scary to do business with. I see the crazy high limits posted for people with average income and low credit scores, along with some of the BK hits posted on them around here - and I wonder how they pass their Federal audits. I think they are at a high risk of insolvency, based on what I have seen. They need to tighten up a whole lot, and do some balance chasing on some folks. Just my thoughts.

Message 14 of 44
gdale6
Moderator Emeritus

Re: What is up with NAVY giving low CL CC these days?

Two like threads have been merged into one.
Message 15 of 44
Anonymous
Not applicable

Re: What is up with NAVY giving low CL CC these days?


@kilroy8 wrote:

I have to say that Navy Federal is a financial institution that I find way too scary to do business with. I see the crazy high limits posted for people with average income and low credit scores, along with some of the BK hits posted on them around here - and I wonder how they pass their Federal audits. I think they are at a high risk of insolvency, based on what I have seen. They need to tighten up a whole lot, and do some balance chasing on some folks. Just my thoughts.


NFCU is the largest credit union in the country and has over $82 billion in assets.  I think you don't have much to worry about them becoming insolvent.

Message 16 of 44
AverageJoesCredit
Legendary Contributor

Re: What is up with NAVY giving low CL CC these days?

Big limits dont necessarily have to only go to those with high incomes imo. I often see many who have gone bk come from backgrounds with high income. In my humble opinion its how anyone manages the credit they are given responsibly that can often be rewarded with a higher limit. Sure i know high income is great and i wish i could have it but i for one am glad to see Navy give the opportunities to us lower income earners and those whove made mistakes. In the end, we hang our own noose if we dont paySmiley Wink
Message 17 of 44
morgacj2004
Valued Contributor

Re: What is up with NAVY giving low CL CC these days?

The NFCU gravy train for high ICL may be over but they still offer good products and are generous with CL

AX Hilton Aspire 20k, AX Bonvoy Brilliant 15k, AX BCP 2k, AX Blue Bus Cash 15k, AX Delta Air Platinum 49k, (AU) AX Delta Gold 15k, AX Amazon Prime Bus 25k, BC Uber 29k, AKUSA FCU -10k , CITI AAdvantage Exec World Elite MC 16.5k, Discover (2) 16k, Kohls-4k, VS Comenity $3k, BofA AK Air Siggy 9.8k, WF Propel AX 5k, JCP $10k PFCU Plat Rewards Siggy 39.5k, PFCU Power Cash Rewards AX 10.5k, NFCU Flagship 50k, CLOC 15k, CITI Costco 9.5k, GAP VISA Synchrony $9k,Target MC 9k, Ulta MC Comenity 9k, Pay Pal 1k, CO Venture One 23k, US Bank Radisson Rewards Signature 10k, US Bank Fred Meyers World MC, 11k, US Bank Plat VISA 15.7k, VS Comenity 2k, 240k total available credit. Utiliz-2%, Current FICO EQ-724, EX 763,TU 802 ,Chapt 7 BK D/C 11-2012. Starting scores 520-550
Message 18 of 44
kilroy8
Community Leader
Super Contributor

Re: What is up with NAVY giving low CL CC these days?


@AverageJoesCredit wrote:
Big limits dont necessarily have to only go to those with high incomes imo. I often see many who have gone bk come from backgrounds with high income. In my humble opinion its how anyone manages the credit they are given responsibly that can often be rewarded with a higher limit. Sure i know high income is great and i wish i could have it but i for one am glad to see Navy give the opportunities to us lower income earners and those whove made mistakes. In the end, we hang our own noose if we dont paySmiley Wink

I am glad that they are able to help everyone, I just don't understand how they can manage it. The Federal Insurance people look at what these places are doing and if they are taking too much risk, they get reigned in. I saw one person on here just yesterday who is burning banks for $100K, and $40K to Navy as one of the victims. They didn't lose their job or have a crisis, they just overextended and decided to cut their losses. I know they can't make more than $80K a year or so because if they did, Chapter 7 would be off the table. Giving so much unsecured credit to someone like that is just setting them up for failure.

Message 19 of 44
Anonymous
Not applicable

Re: What is up with NAVY giving low CL CC these days?


@kilroy8 wrote:

I have to say that Navy Federal is a financial institution that I find way too scary to do business with. I see the crazy high limits posted for people with average income and low credit scores, along with some of the BK hits posted on them around here - and I wonder how they pass their Federal audits. I think they are at a high risk of insolvency, based on what I have seen. They need to tighten up a whole lot, and do some balance chasing on some folks. Just my thoughts.


How many times has NFCU declined you?

Message 20 of 44
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