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Established Contributor
Posts: 515
Registered: ‎07-31-2012
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My NFCU cash rewards questions answered (my low limit)

[ Edited ]

I finally found out why I got a Cash Rewards at 1k, got them to bump it to 1.5k that's with a score of 770 on the letter they sent me and it was pretty much what I expected.

Length of time accounts have been established (had only a 1.5 year history)

Excessive amount owed (Apparently what the checked still showed 91% util on a $750 Cap1)

Excessive amount owed on Revolving accounts (see above)

To few accounts currently paid as agreed (no baddies at all so I'm guessing that was the fact that I only had the one card.

 

Since then I have been approved for a Zync and a Delta Gold (2k limit) so I'll be bumping them both up starting with the Delta Gold 61 days after I activate it, then once it reports I'll hit NFCU for a CLI. I want to see if I can get a 10k card by March. Not counting on it but it's worth a try once they both start reporting.


What's in my wallet: Cap1 Venture NFCU Sig Visa Delta Gold Amex BCE Citi Simplicity IHG World MC Amazon Visa CSP
Starting Score: 5/2010 550-ish
Current Score: 6/20/2013 TU 800 6/20/2013 EQ 770 6/20/2013 EX 775
Goal Score: 800 accross the board
Frequent Contributor
Posts: 423
Registered: ‎09-12-2009
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Re: My NFCU cash rewards questions answered (my low limit)


Cageym wrote:

I finally found out why I got a Cash Rewards at 1k, got them to bump it to 1.5k that's with a score of 770 on the letter they sent me and it was pretty much what I expected.

Length of time accounts have been established (had only a 1.5 year history)

Excessive amount owed (Apparently what the checked still showed 91% util on a $750 Cap1)

Excessive amount owed on Revolving accounts (see above)

To few accounts currently paid as agreed (no baddies at all so I'm guessing that was the fact that I only had the one card.

 

Since then I have been approved for a Zync and a Delta Gold (2k limit) so I'll be bumping them both up starting with the Delta Gold 61 days after I activate it, then once it reports I'll hit NFCU for a CLI. I want to see if I can get a 10k card by March. Not counting on it but it's worth a try once they both start reporting.


If you're not in a big rush, maybe you can consider gardening for a little while. NFCU is a HP everytime you request a CLI. You have the scores...sounds like all you need is some time. 

FicoTU 780 | Credit Karma 781 | Credit Sesame 780
EQ 673 Dec2011 | Current: 695 Nov2013 | Goal: 720+
UTL: 54% Dec2011 | Current UTL: 21% | Goal UTL: 0% June2014
AmxZync | CapOne 1k | Comenity 1.1k | Target 3k |NFCU Visasig 5k | Goodyear 5.8k | CitiSimplicity 10.2k
Sam'sClub 10k | AmxSpg 20k | Citi HiltonReserve 20k | DCU 20k | Chase RR Visasig 25k | NFCU Visasig 33k
Established Contributor
Posts: 515
Registered: ‎07-31-2012
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Re: My NFCU cash rewards questions answered (my low limit)

The only issue I have with that is I work overseas right now and I want the 10k for plane tickets and such to travel back twice a year, and that can be kind of difficult using a debit card, trust me.LOL .If I CLI the Delta Gold for the 3x at 61 days and get it that's 6k, and once someone breaks that 5k barrier I shouldn't have a huge issue getting NFCU to go a little higher. At that point I will have 4 cards reporting, the 2 Amex, NFCU and Cap1. Then I will garden until I decide to ap for a Chase Freedom probably. But I'll wait awhile to do it. I'm just working out the strategy that I hope will work.


What's in my wallet: Cap1 Venture NFCU Sig Visa Delta Gold Amex BCE Citi Simplicity IHG World MC Amazon Visa CSP
Starting Score: 5/2010 550-ish
Current Score: 6/20/2013 TU 800 6/20/2013 EQ 770 6/20/2013 EX 775
Goal Score: 800 accross the board
Frequent Contributor
Posts: 388
Registered: ‎10-26-2009
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Re: My NFCU cash rewards questions answered (my low limit)

You didn't ask for advice, but I'd like to offer some.  It's free and worth every penny you pay!

 

Do the 3x limit on AMEX at 61 days and leave the NFCU alone (as mentioned it's a hard pull every time).  Wait six months and and do the AMEX 3x again, wait for it to report and THEN ask for a cli with NFCU.  That way they see you have a large CL.

 

Or, switch your banking to NFCU and then ask for the CLI; they give bigger CL's to folks who bank with them.

 

But, if you don't mind the hp go ahead and ask NFCU.  I did that to go from my initial $10K to $18K.

 

As you can see, I have both AMEX and NFCU and they have treated me well.  Any way you do it, you are in with two great CCC's!



Starting Score: TU 672 EQ 654 10/20/09
Current Score: TU 775 EQ 783 EX 799 (PLUS)
AMEX Delta Platinum $35K, NFCU Visa Signature $30K, HHonors Reserve Visa $35K, WF $13.5K, IHG Rewards Club MC $25K
Established Contributor
Posts: 515
Registered: ‎07-31-2012
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Re: My NFCU cash rewards questions answered (my low limit)

Thanks for the advice, why else would someone post here if they didn't want totap into the wealth of knowledge! I have diverted a portion of my pay to NFCU and I have a checking account with them as well. I only have 4 HP's showing now, 3 belong to NFCU. I don't really mind the HP since as soon as I get a card, or 2, at 10k I'm done for a bit. But I hadn't quite thought it out your way, I was thinking along the lines of almost playing one against the other.LOL


What's in my wallet: Cap1 Venture NFCU Sig Visa Delta Gold Amex BCE Citi Simplicity IHG World MC Amazon Visa CSP
Starting Score: 5/2010 550-ish
Current Score: 6/20/2013 TU 800 6/20/2013 EQ 770 6/20/2013 EX 775
Goal Score: 800 accross the board
Frequent Contributor
Posts: 423
Registered: ‎09-12-2009
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Re: My NFCU cash rewards questions answered (my low limit)


DrJim wrote:

 

Do the 3x limit on AMEX at 61 days and leave the NFCU alone (as mentioned it's a hard pull every time).  Wait six months and and do the AMEX 3x again, wait for it to report and THEN ask for a cli with NFCU.  That way they see you have a large CL.

 

 


+1000

Exactly the way I would do it!

FicoTU 780 | Credit Karma 781 | Credit Sesame 780
EQ 673 Dec2011 | Current: 695 Nov2013 | Goal: 720+
UTL: 54% Dec2011 | Current UTL: 21% | Goal UTL: 0% June2014
AmxZync | CapOne 1k | Comenity 1.1k | Target 3k |NFCU Visasig 5k | Goodyear 5.8k | CitiSimplicity 10.2k
Sam'sClub 10k | AmxSpg 20k | Citi HiltonReserve 20k | DCU 20k | Chase RR Visasig 25k | NFCU Visasig 33k
Established Contributor
Posts: 1,011
Registered: ‎04-08-2012
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Re: My NFCU cash rewards questions answered (my low limit)

After all the speculation, I'm glad you got a clear answer Cage. I agree with doing the AMEX before NFCU considering AMEX is inquiry sensitive but NFCU isn't.

-Rebuilding with CapOne Cash: $1.5k, NFCU cashRewards $8.5K, NavCheck $5K, Wal-Mart: $1.1K, Sam's: $1.2K, Amazon: $1.9K, Apple Barclay: $3K, Haverty's: $1.5K, GE capital: $5K, Sears: $250(AU), PP MC:$1.5K, CareCredit:$3K (closed 1st home 05/08/13)
Starting Score: 492-TU04, 480-EX FICO V2, 467-EQ Beacon 5 (Via Mortgage PreQual March '12)
Current Score: EX,EQ,TU (lender pull): 652, 659, 689, Walmart TU FICO: 691 (05/13)
Goal Score: 700

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Valued Contributor
Posts: 1,772
Registered: ‎10-28-2011
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Re: My NFCU cash rewards questions answered (my low limit)

This same thing happened to me I had a short account history and messed up and apped while I had 70% something util reporting.  I'd wait 6 mos then ask for an increase.  You make decent income so I dont see why you wouldnt be able to obtain 10k cl but the question is can it be done by march?  

 

While I would agree that the 61 day cli 3x amex thing is a good idea but keep in mind ITS NOT GUARANTEED!  Theres a great thread going on about this right now called "people need to rethink amex 3x cli"  With amex its almost guaranteed EX pull and with nfcu its almost always EQ pull sometimes TU so theres 2 seperate inquiries that wont affect the other creditors decision

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
Frequent Contributor
Posts: 411
Registered: ‎05-01-2010
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Re: My NFCU cash rewards questions answered (my low limit)

I agree with those above. Do the CLI request with Amex and then garden. It's not worth another HP from NFCU.

Established Contributor
Posts: 515
Registered: ‎07-31-2012
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Re: My NFCU cash rewards questions answered (my low limit)

OOPS! MyFico shows NFCU started reporting. Still showing only 3% util but score went down a bit, and so did AoAA, from 1.5 years to 9 months. Unintended consequences I guess. LOL. Thanks for all the advise guys, and sounds like a plan to me.


What's in my wallet: Cap1 Venture NFCU Sig Visa Delta Gold Amex BCE Citi Simplicity IHG World MC Amazon Visa CSP
Starting Score: 5/2010 550-ish
Current Score: 6/20/2013 TU 800 6/20/2013 EQ 770 6/20/2013 EX 775
Goal Score: 800 accross the board
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