I have 4 cards on my personal 3 Crap one cards all at $500 limits and I applied for and recieved a NFCU nRewards card back in May I was originally only approved for $1,000 then I requested an increase and got $1,500 and kept it until 3 days ago whrere I applied for an increase again. I received a $5,000 limit which is my highest ever personal revolving CC limit. Now I'm wondering if I should try and get an NFCU Platinum as well so I can ditch my crap one cards?
I have 2 collections one from credit one bank for $500 and one from Hooters merick bank for $699~ I've tried to offer PFD to Merrick banks its a no go. Other then that I've had all my late payments removed from my crap one accounts (One 60 & 90 day late in 2010) So besides the Hooters and Credit one I have no late payments on anything since my BK that discharged in 8/2008.
I also have a Chase INK cash @ $2500 which doesnt show up in my personal file but Chase wont give me a personal card citing the collection from credit one and hooters as the main reason :/ . My new credit line with NFCU hasn't showed up yet to my knowledge but I'm thinking I'll try later this year for a CSP I hope. I have a tone of inq from an earlier app spree this year and I think its something like 22 thanks to an auto dealer running my credit all over to get me a loan when i was looking to buy a truck back in april. My current score is 627 my FICO on EQ. And I'm not sure about the others. Back when I bought my truck in april I was told my TU was 651. My utilization is lower then 20% on my file but I recently made payments so its really about 1-2% now.
Bottomline I'd like to get two credit cards on my personal over $5,000 and be in a better position for the CSP when I app for that. So with that said should I wait to app for the NFCU Platinum? or should I just go for it? And if I wait should it at least be until after my credit limit shows up on my credit report or does it not matter since its their own card anyway?
Starting Score: 590 MyFico EQ
NFCU has been very generous with you in a short time frame. With all the inquiries and the remaining negatives including the BK I would think you would be well served by proving yourself for a period of time with what you have. With the Navy card at $5K I would not think it would hurt your profile to cancel out two of the three Capital One cards. Then show NFCU some action and responsible behavior until you have at least a year on the account.
Remember NFCU will be very good to you over a period of time but if you cross them there is no real hope of recovery from their black list. Look at your recovery journey in the long term focus instead of rushing for immediate gains.
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