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What does NFCU think about hi utilization?

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Anonymous
Not applicable

What does NFCU think about hi utilization?

Will NFCU approve credit card if utilization is 50%?  My membership is now active but I'm worried I shouldn't apply for a credit card until my utilization comes down.

Message 1 of 9
8 REPLIES 8
Anonymous
Not applicable

Re: What does NFCU think about hi utilization?

Bump

Message 2 of 9
woodyman100
Valued Contributor

Re: What does NFCU think about hi utilization?


@Anonymous wrote:

Bump


I would agree. You might get approved though. It is NFCU after all

NFCU-ICCU-EECU-PSECU-DoverFCU-DCUFCU-Union Square FCU-Signature FCU-AODFCU-RedstoneFCU-USAllianceFCU-Amarillo National Bank-BHG MC-CapitalOne-CapitalOne Biz-Regions-Goldman Sachs (Apple/GM)-Evolve-Fifth Third-Gemini-Huntington-Imprint-USBank-Pinnacle-Cardless-John Deere-Discover-BofA-BofA Biz-Celtic Bank (M1)-Chase-Chase Biz-Amex-Amex Biz-Wells Fargo-Commerce-FNBO-Citi-Citi Biz-Synchrony-Synchrony Biz-Target TD-Third Coast Bank-USAA-Amegy-Amegy Biz-Dell-Citizens Biz-Comenity-Comenity Biz-Bread (Comenity)-DSNB-Webbank-Bill
Message 3 of 9
Creditplz
Valued Contributor

Re: What does NFCU think about hi utilization?

I was approved with around 50% utl.. although I only had one CC at the time and the limit was only $1200.. Flagship at 13.3k.. thinking of closing it
Message 4 of 9
Anonymous
Not applicable

Re: What does NFCU think about hi utilization?

I had like 40% UTI on my Navy Fed secured card and they still approved me for a Cashrewards
Message 5 of 9
Anonymous
Not applicable

Re: What does NFCU think about hi utilization?

 I found out first hand.  Today I applied.  Here is the link:  http://ficoforums.myfico.com/t5/Credit-Card-Approvals/Jumped-on-NFCU-bandwagon-15K-starting-limit/td...

Message 6 of 9
BundiFan
Regular Contributor

Re: What does NFCU think about hi utilization?

I just got approved at the end of December with 90%+ utilization and was given a 24k SL

 

Scores are in the mid 600's

 

I have a long history with them

 

I also have 150K+ annual income. 

Message 7 of 9
Anonymous
Not applicable

Re: What does NFCU think about hi utilization?


@BundiFan wrote:

I just got approved at the end of December with 90%+ utilization and was given a 24k SL

 

Scores are in the mid 600's

 

I have a long history with them

 

I also have 150K+ annual income. 


Awesome!!

Message 8 of 9
Anonymous
Not applicable

Re: What does NFCU think about hi utilization?

No lender "likes" high utilization.  The higher the utilization, the higher the risk you are as you could lose your source of income (job, etc.) at any given moment and not be able to pay back that debt. 

 

While some lenders may be slightly more forgiving of higher utilization than others, there are none that prefer it.  If you apply for a product when you're at 50% utilization verses applying for that same product when you're at 20% utilization, all other things being equal, the profile at 20% utilization is going to be approved at better terms that the profile at 50% utilization.

Message 9 of 9
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