Credit Cards

[miltolam]

Happy Labor Day MyFICO community. So I finally recieved my NFCU nRewards card the other day. My CL is $2k w/13.99% APR. Honestly I was expecting more since I make over $70k and I seen other myFICO members w/lower scores post higher approved limits but I guess my bankruptcy (5/11) is still "too new". Anyway, on this document they sent with the card explaining the opening account summary, apr, and credit disclosure, etc., they gave all the details and key factors that adversely affected my decisions. One of the factors they mentioned on 2 explanations listed had to do with deliquencies. They only deliquency I currently have were 6 lates in 2007, 2010 (2 accounts consolidated into 1, 3 lates each) total on my student loans. This was a result of miscommunication between Nelnet and myself; my loans were coming out of deferment and I wasn't properly informed of such. The loans are current now but the mark remain. I recently have tried to goodwill Nelnet but they did not bulge.

Anyway, I'm rebuilding my credit and would like to develop a relationship with NFCU for future product and services. Depending on my scores, I plan on buying a car between Christmas and Feb. Would it do me any justice to call NFCU and explain this for possible reconsideration of a higher limit or would I be "stirring the pot"??? If so, whom/what # should I call? Thanks in advance.

[DaveSignal]

I doubt you would be buying a car with your credit card, so I don't see how stating that you are looking for a car loan would get you a higher limit on your credit card.

[jordanmedical]

I would mention that when you apply for the Auto Loan. Until then use your card and pif, that will help you build history with them.

[rootpooty]

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miltolam wrote:

 My CL is $2k w/13.99% APR. Honestly I was expecting more since I make over $70k and I seen other myFICO members w/lower scores post higher approved limits but I guess my bankruptcy (5/11) is still "too new". 

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Seriously?  show me another creditor that would give you a 2k limit with a bk reporting that is so new.  Other members with lower scores that recieved higher limits didnt bankrupt 6 accounts so maybe you should take that into consideration.

Anyways there is no back door number for nfcu.  You can send them a private message explaining a situation but keep in mind any requests for anything regarding a cli and such will result in a hp.  For better results I suggest waiting 6 mos and ask for an increase.  For better results I would reccomend you have DD with them

[webhopper]

I agree that you are fortunate to be approved with a BK that new. You really do not need more than 2k CL to rebuild with. Just sit tight and by all means buy a car that is less than your "means".

Also; you had to go through an exit interview on your student loans did you not? In that interview I clearly remember how they explain that it is your responsibility to repay the loans. You should have called and given them your social security number. That way they could have looked up your loans; updated your address on file; and told you how much to pay and by when. I don't see this as as you not being "properly informed"

I see this as you needing to learn how to follow up with creditors and make sure you are complying with the terms of your promissory note.

If I were you I would feel comfortable asking for a CLI at the 6 month mark.