NFCU Approval

[Anonymous]

After thinking about it, I decided I wanted to get a no-frills card with a lower APR. I figured that way I have a card I can put emergency expenses on if something unexpected happens. So I applied for the Platinum Mastercard from NFCU over the weekend, and today got a message saying:

"Congratulations! Based on your creditworthiness, you have been approved for a Platinum MasterCard credit card. Your new credit line will be $14,000.00. Your APR will be prime plus 7.74%. You should receive your new card(s) in 7-10 normal mail delivery days. "

I'm stunned. The APR is nice (it would be, what, 10.99% right now?), but I really didn't expect a huge CL like that. Wow.

I guess NFCU keeps being generous! Probably doesn't hurt that I used my current NFCU card to pay off over $6k in bills (and immediately paid it off) a week ago. Maybe they actually take your prior usage with them into account.

[Datx]

Congrats! Do you feel the NFCU love now? I remembered when you first joined NFCU, you werent so happy about your starting limit. I bet you are loving them now!

[Anonymous]

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@Datx wrote:

Congrats! Do you feel the NFCU love now? I remembered when you first joined NFCU, you werent so happy about your starting limit. I bet you are loving them now!

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Yeah, I'm kinda worried about them giving me that much credit to be honest I didn't like getting only a 1.5k line on my first card, but that went up to $14k this last month, and now they approved me for another $14k card? I guess I have been using my card a lot since I got it (since it's my main daily use card), but still! Going from $1.5k credit with them to $28k in a month.. scary. It's a good thing I don't consider credit cards to be supplemental income, otherwise it would be really easy to get myself deep into debt.

[bichonmom]

Wow! That's amazing. From 1500 to 14000 to 28000 in just a couple of weeks! Wow. I'm still holding off before I CLI. I guess I'm just gunshy after years of not being able to get credit, and I don't want a HP and denial because I've only had the cc a few months.

That will really help your util!

P.S. I am SO jealous!

[Anonymous]

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@bichonmom wrote:

Wow! That's amazing. From 1500 to 14000 to 28000 in just a couple of weeks! Wow. I'm still holding off before I CLI. I guess I'm just gunshy after years of not being able to get credit, and I don't want a HP and denial because I've only had the cc a few months.

That will really help your util!

P.S. I am SO jealous!

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My util is actually 0% right now Gotta let a balance post on this next statement.

I was expecting something like a $2-5k card, I didn't expect them to match the other one. I would've even been happy to transfer some of the CL over from the other card to open the new one, but hey - if they want to extend me more credit, I'm not complaining. I'm pretty sure card usage has to have something to do with their decision though, since NFCU has been my heavy/daily spending card since I got it.

[Mzvanessa]

Congrats AndyK, I am happy for you, they are a great CU if you be good to them they always return the favor with much love.

[Anonymous]

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@Mzvanessa wrote:

Congrats AndyK, I am happy for you, they are a great CU if you be good to them they always return the favor with much love.

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I've noticed! After the initial disappointment with the low CL, they've been really good to me. I just wish their online banking was set up more like USAA's, makes it hard to transfer money around.

[frogfan12]

Congrats, $14K is impressive!

[CS800]

Here's your no frills card

Congrats

[Anonymous]

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@CS800 wrote:

Here's your no frills card

Congrats

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That's exactly why I applied for it! I figure I won't be tempted to use the card since it doesn't have rewards. It's by far my lowest APR, and that way I can keep the card free of usage until some unexpected expenses come up.

It's a nice feeling, I closed $3.3k worth of cards in December, and ended up with $26800 more in credit (plus the NPSL Zync) since. Now I should just be patient and garden.. but pulling the trigger is always so much more exciting.