Nfcu cli advice

[rubicon]

Guys I have two nfcu cards the cash rewards and the go rewards.

Cash cl = 5k
Go cl = 2k

I know that the march ar just happened and I'm close to pulling the trigger on requesting a cli but can I do this for both cards or can I only do one cli period every so many months?

If so, which card might you guys recommend I request the cli for? I also hear to request 25k period for the cli

Thanks in advance!

[Anonymous]

@rubicon

Moved your post to the credit card forum so that you can get some advice.  Good luck

[Anonymous]

Iirc yiu should be able to try for a cli on both cards.

[rubicon]

No go on my cli...my utilization is high at 70% and I was hoping to lower it with a cli. Should I recon? No lates ever on my nfcu cards or any of my cards and that's been over the past year.

This is the message I rec'd

Navy Federal Response 03/26/2017 : Thank you for your message. Upon review, the Credit Card Lending Team was unable to approve your recent credit limit increase application. Information concerning the Lending Team's decision has been mailed to your address of record. Please allow 7-10 business days for delivery. If we can be of any further assistance, please let us know.

[Anonymous]

@rubicon,

It's hard to try and figure out the logic behind their decision making.. not sure if its an algorithm or what, but see, people (like me) get CLI denials with 100% payment history, the banks even say, "oh wow, you make payments 30+ days in advance, we thank you for your fiscal responsibility" and keep my utilization between 0-10% on some cards and UP TO 25% on others, and I am denied, stating," your recent account activity/utilization on this account is too low" so then a person like YOU, uses up to 70% and it's too high...not sure exactly what these banks want...

it doesn't hurt to recon, BUT, make sure that when you are doing this on the phone, that they aren't just processing you for ANOTHER CLI, especially if they do a hard pull. I just got banged twice by BANK OF AMERICA in two days (two HP's on my recent credit report) and all i was doing was calling for a RECON.  The lady finished up and says,
"ok, you will receive a decision in the mail in 7-10 business days"... I almost went nuts.

[rubicon]

Well I fired off a recon. We'll see.

[Anonymous]

Having 70% utilization is pretty high. Definitely recon though and let them know what's going on. Work on getting that utilization down below 30% too. Did you do a BT to their card or was this just use? Good luck on the recon! We are all pulling for you! I'm a new NFCU member myself (3/24/17) and am very happy thus far with their approvals. I'm moving my checking and savings over to them as well since there are local branches near me. 

[Anonymous]

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@rubicon wrote:
No go on my cli...my utilization is high at 70% and I was hoping to lower it with a cli. Should I recon? No lates ever on my nfcu cards or any of my cards and that's been over the past year.

This is the message I rec'd

Navy Federal Response 03/26/2017 : Thank you for your message. Upon review, the Credit Card Lending Team was unable to approve your recent credit limit increase application. Information concerning the Lending Team's decision has been mailed to your address of record. Please allow 7-10 business days for delivery. If we can be of any further assistance, please let us know.

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I would probably wait for the letter to come that way when you do recon you can tailor your response to the specific reasons as to why they declined your CLI.  It may not have anything to do with your utilization.

[rubicon]

Update I didn't get the recon but I've been working like mad to drop my util

[JustcallmeTM]

I think if I remember correct they base a CLI almost the same way they look at your CR for loans and mortgages. They tend to look at the person's overall DTI ratio more than anything else. They also use FICO 4, they have there own internal scoring system but from my conversations with them they pretty much base there decisions on just the DTI overall with the FICO 4 scores.

People can keep thinking lowering 1 individual card with a high utilization is something they look, if your overall DTI is over 30% is where people will struggle with NFCU they tend to care more about the overall credit health of the person CR than the individual card. 

I haven't recieved a CLI in almost a year, but when talking to the loan officer she stated that in the last year I had raised my overall DTI from 23% to 34%. she said my 720+'s scores and history was outstanding but unless I got my overall DTI down under 30% again getting a mortage/loan with good terms will be hard to get, so CLI fall in the same grouping I am guessing since I havent received any since 2015.