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

Contributor

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.

CSR, CFU. FREEDOM, USAA AMEX, NFCU PLATINUM, WF SIGNATURE.

Message 11 of 44
Member

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

I have Penfed AND Nasa :/

Message 12 of 44
Frequent Contributor

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
Regular 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
Moderator

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

Two like threads have been merged into one.
"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

"Reactions are powerful creators because they contain every element needed to manifest—they're a combination of thought, belief, and feeling in action. Positive reactions create more positive things, and negative reactions create more negative things. If you can respond to negative situations calmly and lightly, instead of with emotional turbulence, what happens next in your life will be so much better."

- Rhonda Byrne
Message 15 of 44
Moderator

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
Super 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
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 BCP 15k, (AU on ED 7k,) BC Ring 11.5K, BC Arrival+ 9.5k, BC AA Aviator 4K, AKUSA FCU -10k , Comenity Blue Nile 11k, Discover (2) 11k , Kohls-4k, CHASE Amazon Prime VS 500, BofA AK Air Siggy 9.8k, BofA Secured $500, Synchrony Cathay Pacific Visa 9k, Synchrony E-bates Visa $2.4k, PFCU Plat Rewards Siggy 18k, PFCU Power Cash Rewards 21.5 k, NFCU Go Rewards 24k , NFCU Flagship 31.5k, CLOC 15k, CITI Costco 9.5k, GAP VISA Synchrony $3250, Target 1k, BLIS PAY 5k, Pay Pal 1k, CO Venture 23k, 259k total available credit. Utiliz-2%, Current FICO EQ-707, EX 702,TU 715 Chapt 7 BK D/C 11-2012. Starting scores 520-550
Message 18 of 44
Regular 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
Senior Contributor

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?

NFCU Platinum $7300- AMEX BCP $9000- PenFed Power $11000- Chase FU $11700- DCU Platinum $15000- Care Credit $15000- AMEX EDP $15000- NFCU CLOC $15000- Chase CSP $18900- Discover IT Miles $20000- Penfed Promise $25000- NFCU Go Rewards $27100- Venture $28750 **As of 12/9/17** EX- 756(16) TU- 775(15) EQ- 742(15) UTI 8%- Clean Files
Message 20 of 44