Hello everyone!
Just wanted to post my first thread. I pulled my first FICO score today. I am currently sitting at 658 / 758. I also opened up two more lines of credit. Yes I know this will hurt my score, but I am thinking long term. My goal is to buy a home in about 2 years when I get out of the military.
So my question is what type of unsecured CC limits are you all getting with FICO scores similar to mine?
I opened up a CITI Preferred card with a limit of $1250 today, and a USAA card with a $7000 limit. Its quite a difference. Just curious if you all have had the same experiences.
Thanks,
DPechal
***$25,500******$20,000******$20,000******$20,000******$15,000********NPSL****
USAA is extra generous with credit limits for full military members.
My husbands credit scores are about 730-ish and his 3rd and 4th credit cards started with $2000 limits and one of those is a Citi card. I would think that $1500-$2000 would be your normal opening credit limit depending on lender.
If you pulled a 758 from myFICO for your *Equifax* report, then 7K is a perfectly reasonable CL from USAA. Citi may not have pulled the same bureau, and they're also nowhere near as generous a lender as USAA is to military-affiliated members.
Are you a member of Navy Federal Credit Union? If not, stop what you are doing and join now! They are extremely generous with their credit products and forgiving of past credit mishaps.
KJM,
I really would, I have heard great hings about them! However, USAA really has done it all for me and I couldn't ask more.
dpechal,
trust me. You want to at least join NFCU while you are able. They are very generous with CLs (more than USAA). Also decent loan products. You will probably take hard inquiry to join and 1 more for CC.
LIMITS IN CARD DESCRIPTIONS
Not bashing USAA in way. USAA is a bank as opposed to NFCU being a credit union. NFCU is more lenient, grants larger lines, and has superior customer service. NFCU is very inquiry happy and will hard pull for everything and their website is kind of blah (money goes to the members, not on technology lol).
Even if you don't want to apply for any of their products, while you can, maybe open a share savings account. Can be done with as little as $5. The other bad thing about NFCU is eligibility is pretty restricted (also a good thing). People here are begging for opportunities to join. Even starting kids with a share savings account is invaluable for them in the future.