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Posts: 3
Registered: ‎04-25-2013
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NFCU Cash rewards Card

Been reading this forum for awhile and it's one of the reasons I discovered that I was eligible to join NFCU through my father.  Joined a few weeks ago and after waiting awhile to get my acceptance package, just threw 50.00 into a checking and savings accounts to get started.  My question is, I checked my offers on the web site and it says I was pre selected for a cash rewards card. I heard about very high limits but not sure if I should apply.  My scores across the board are 719 TU 720 EQ and 722 Ex.  My only concern is I have High utilization , around 60% because I used to have very high limits on a bunch of cards and when the financial crisis hit, all my cards cut my limits to what I owed at the time.  So I went from like 25/30% to almost 95% overnight.  Been getting it lowered over time.   Not really needing a another card but the stories of the cl they give has me curious.  Any thoughts would be appreciated. Thank you

Valued Contributor
Posts: 1,546
Registered: ‎08-30-2012
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Re: NFCU Cash rewards Card

Your util is high. I don't know if NFCU will care but I don't think I would app until it came down some but that is just my .02.

 

 


Starting Score: EQ 511 TU 552 EX 545 8/29/2012
Current Score: TU 712|EQ 695|EXP 723 (FICO)
Total credit $185,250; Util 14%
Goal Score: 700 across the board.
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Senior Contributor
Posts: 27,465
Registered: ‎02-07-2013
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Re: NFCU Cash rewards Card


99lawdog99 wrote:

Been reading this forum for awhile and it's one of the reasons I discovered that I was eligible to join NFCU through my father.  Joined a few weeks ago and after waiting awhile to get my acceptance package, just threw 50.00 into a checking and savings accounts to get started.  My question is, I checked my offers on the web site and it says I was pre selected for a cash rewards card. I heard about very high limits but not sure if I should apply.  My scores across the board are 719 TU 720 EQ and 722 Ex.  My only concern is I have High utilization , around 60% because I used to have very high limits on a bunch of cards and when the financial crisis hit, all my cards cut my limits to what I owed at the time.  So I went from like 25/30% to almost 95% overnight.  Been getting it lowered over time.   Not really needing a another card but the stories of the cl they give has me curious.  Any thoughts would be appreciated. Thank you


You have good scores and with a great company. However with the 95% Utilization I would hold off until you bring it down some. Then I would say you would be approved hands down with no problem.

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Moderator
Posts: 27,207
Registered: ‎09-13-2012
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Re: NFCU Cash rewards Card

It would be best to wait that way your CL will be reflective of your CS.

Good luck!
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Posts: 3
Registered: ‎04-25-2013
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Re: NFCU Cash rewards Card

No my utilization is 60%. It was around 95% years ago when the credit crisis hit because they lowered all my limits to what I owed. I had accounts that I never used with 20,000.00 limits that were just shut down for no reason.  If I had a limit of 5000.00 but owed 500.00, the CL was lowered to 500.00 which caused my UTL to jump.  Thanks for the replies, I appreciate each one as to your thoughts.

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Registered: ‎02-07-2013
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Re: NFCU Cash rewards Card


99lawdog99 wrote:

No my utilization is 60%. It was around 95% years ago when the credit crisis hit because they lowered all my limits to what I owed. I had accounts that I never used with 20,000.00 limits that were just shut down for no reason.  If I had a limit of 5000.00 but owed 500.00, the CL was lowered to 500.00 which caused my UTL to jump.  Thanks for the replies, I appreciate each one as to your thoughts.


Still to high IMO get it down a litle more for best results

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Established Contributor
Posts: 529
Registered: ‎10-25-2012
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Re: NFCU Cash rewards Card

I would shoot for 30% UTIL

NFCU CashRewards $13.5k | AMEX BCE $15k | Lowes $17k | Sportsmanss guide $7.6k | Chase Freedom $1k | Discover IT $4.4k |
Walmart $8k | Gordman's $2950
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Valued Contributor
Posts: 1,408
Registered: ‎07-12-2011
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Re: NFCU Cash rewards Card

Welcome to the forums 99lawdog99!
What's your income like? I am pretty confident that you would be approved with 60% utility but not with the best possible results. Your scores are good enough with NFCU approval on the cash card. That pre-approval is almost good as gold with NFCU. Just a matter now of the CL and APR.

Starting Score: 642
Current Score: EQ 773, EX 780, TU 777 (All FICO)
Goal Score: 800+

Cards: NFCU Flagship 50K, DC 30K, BCP 28.6K, Arrival+ 25K, Citi DP 22.8K, CSP 20.5K, TotalRewards 20.5K, QuickSilver 20K

Frequent Contributor
Posts: 257
Registered: ‎04-03-2012
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Re: NFCU Cash rewards Card

They denied my wife for high utility.

Keep it low
On my phone apologies for the errors.



Starting Score: 501 EX FAKO
Current Score: 745TU Fico
Current Score:714EQ Fico
Current Score: 742 fico


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New Visitor
Posts: 3
Registered: ‎04-25-2013
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Re: NFCU Cash rewards Card

Thanks.  It's around $150,000.  I'll probably not go for it now. I'll wait.  The last card I got was from Cabellas a few months ago and they gave me 5000.00  at 9.9 simply because I wanted to by a Kayak.

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