Hi MILOfico, scores are whats generated each month for maintaning credit , good or bad, through thick or thin, the other letters are just code for Navy rocks
@Anonymous wrote:
@Anonymous wrote:I have a question about the CLOC. After talking to the rep today at NFCU he told me it would show up as "inactive" on my account until I actually used this CL for a purchase. Does that mean it won't show up on my CR as a $10,000.00 CL (that's what I was approved for) until I "activate it" or am I misunderstanding what he was talking about?
@Anonymous Would you mind sharing data points? The reason i started this was to find data points as if i was likely or unlikely to be able to get one
OK, I joined NFCU in December, 2016 by opening a savings account with $75. With my 650'(ish) TU score, I immediately applied for their Signature Visa Rewards card and was shocked to be approved for $5000 since I had several cards, most ranging between $1k & $2.5k each. In the last 7 +or- months with them, I've applied for a few CLI's, denied every time. The last explanation for denial was insuffient income ($53k/yr, too many recent inquiries (look up my first post here and you'll understand - lonnnng story!) and too many new accounts. I called them up and asked for some mercy and a CLI despite all of the noted, pleading my case. The L/O told me "No. Try again in a few months and keep your account in good standing."
I asked her (I read about the CLOC on here) if there was anyway I could apply for the CLOC and the L/O informed me that was a whole different department, would require another hard-pull and I asked her why another HP? She informed me that department pulled up a whole different report than the one they used for my CLI request. I told her to please transfer me to that department and she did.
The other lady was very pleasant, explained all of the in's and out's of a CLOC and and I explained all of my concerns about another HP on my report and she asked very detailed questions as to why, which I answered honestly. I explained I developed an emergency strategy to rebuild my credit back into the high 700's after a financially nasty divorce (again, see my first post here), including crappy cards with high AF's, crappy store cards, then replacing them with premium cards along the way - never dropping my available credit limit but keeping it at a slow climb all the while. She asked questions during all of this and then she asked me if I wanted to "go for it" and see what happens. I told her "why the heck not" and she asked me for how much. I said I'd be glad just to start out with $10k (I know, I've since learned always ask for the maximum since). 10 seconds later, she said "Congratulations! Your CLOC has been approved!" Again - SHOCK.
So anyway, I hope this answers your question :-)