topic Re: Navy Federal Credit Union Cash Rewards Credit Card in Credit Card Approvals

Navy Federal Credit Union Cash Rewards Credit Card

Anonymous — Thu, 16 May 2019 04:27:36 GMT

I live in Orange County CA and I app'd on 5/08/19 - I was approved for 20k.

I received several offers to apply via mail and email - I finally caved!

NFCU pulled my TransUnion Credit Report.

My TU FICO 8 Score was 690 (per the JCPenney).

My UTL was about 22% (13k balance transfer on my NFCU Go Rewards Credit Card + some other low credit card balances).

Income is 65k.

I also have a personal loan through Lending Club for 23k.

NuVisionFCU - 1k (opened 8/2012)
CapitalOne Quicksilver Rewards - CL $10,500 (opened 12/2014)
JCPenney Store CC - CL 6k (opened 12/2014)
IT - CL $13,500 (opened 10/2018)
BofA Cash Rewards - CL 5k (opened 10/2018)
NFCU - CL 25k (opened 10/2018)
PenFed Power Cash Rewards - CL 10k (opened 10/2018)
Wells Fargo Platinum Card - CL 8k (opened 3/2019)
Amex EveryDay - CL 5k (opened 3/2019)
Citi Simplicity Card - CL 3.9k (opened 3/2019)

Feel free to ask me any question!

Re: Navy Federal Credit Union Cash Rewards Credit Card

Anonymous — Thu, 16 May 2019 04:33:14 GMT

Congratulations! Navy Federal is awesome

Re: Navy Federal Credit Union Cash Rewards Credit Card

Anonymous — Thu, 16 May 2019 04:42:14 GMT

I agree... I'm done with new credit at this time. I'll build up what I have in my wallet now. I'm actually considering closing Citi, BofA and AMEX.

Re: Navy Federal Credit Union Cash Rewards Credit Card

Anonymous — Thu, 16 May 2019 04:46:00 GMT

@Anonymous wrote:
I agree... I'm done with new credit at this time. I'll build up what I have in my wallet now. I'm actually considering closing Citi, BofA and AMEX.

I wouldn’t close that Amex so soon or they might claw back your SUB and you’ll owe them money.

It doesnt look like you got any awful limits, I would keep all of them until at least a year has passed so you don’t burn any bridges by triggering churner algorithms.

Re: Navy Federal Credit Union Cash Rewards Credit Card

FinStar — Thu, 16 May 2019 04:47:31 GMT

@Anonymous wrote:
I agree... I'm done with new credit at this time. I'll build up what I have in my wallet now. I'm actually considering closing Citi, BofA and AMEX.

Citi, BoA and AmEx seem to be your most recent approvals, any reason you are considering closing those?

Re: Navy Federal Credit Union Cash Rewards Credit Card

Anonymous — Thu, 16 May 2019 04:51:46 GMT

Thank you!

I was curious to know what the effects might be for closing those 3 - thank you!

My limits are great - thanks for the advice and added confidence.

- 9ninne

Re: Navy Federal Credit Union Cash Rewards Credit Card

Anonymous — Thu, 16 May 2019 04:58:29 GMT

No valid reason(s)... I guess because of the new NFCU approval.

I was just trying to keep things

simple, moreover, I'm not quite confident these 3 would ever offer me and/or increase my limit to match NFCU.

Re: Navy Federal Credit Union Cash Rewards Credit Card

FinStar — Thu, 16 May 2019 05:03:48 GMT

@Anonymous wrote:
No valid reason(s)... I guess because of the new NFCU approval.

I was just trying to keep things
simple, moreover, I'm not quite confident these 3 would ever offer me and/or increase my limit to match NFCU.

You'd be surprised. Quite honestly, since all 3 would eventually provide the capability for SP CLIs, then they stand a good chance of growing to be on par with NFCU (sans HP). Plus, AmEx has the option of 3x CLI so give things time.

Re: Navy Federal Credit Union Cash Rewards Credit Card

Anonymous — Thu, 16 May 2019 05:07:21 GMT

Okay, I did not know - I'll keep them open!

I want to try the 3x increase with AMEX but I closed the April 2019 statement with a balance of $3,850 (limit $5k). The balance due now is $900. I'm just not sure if I messed with my chances of the CLI because of the statement closing balance.

Re: Navy Federal Credit Union Cash Rewards Credit Card

Anonymous — Thu, 16 May 2019 06:43:20 GMT

@Anonymous wrote:
Okay, I did not know - I'll keep them open!

I want to try the 3x increase with AMEX but I closed the April 2019 statement with a balance of $3,850 (limit $5k). The balance due now is $900. I'm just not sure if I messed with my chances of the CLI because of the statement closing balance.

3 quick points:

1. Super Congrats on your Navy Fed $20,000 Cash Rewards approval!

2. I'm not sure what's more impressive: your Navy Fed approval or living in OC on $65,000/year.

3. +1 on previous advice to leave Citi, Amex and BofA open so they have time to grow.

As you know, Citi/Amex/BofA are watching how you handle all of your credit.

Getting soft pull CLIs on those cards shouldn't be a problem for you with proper

care and feeding. Just give it time and it should work out fine.

Congrats again on your approval. Thanks so much for sharing!

Re: Navy Federal Credit Union Cash Rewards Credit Card

Anonymous — Thu, 16 May 2019 08:42:51 GMT

Well... I just attempted the 3x CLI with AMEX - I was approved - 5k to 15k (original AMEX app was on 3/01/19).

My FICO 8 Score was 690 (per the AMEX and Experian app).

-March 2019 statement - $0

-April 2019 statement $3,895 (balance due as of 5/16/19 - $900)

I need to stop - lol.

Re: Navy Federal Credit Union Cash Rewards Credit Card

CerebralZulu — Thu, 16 May 2019 08:37:05 GMT

@Anonymous wrote:
Well... I just attempted the 3x CLI with AMEX - I was approved - 5k to 15k (original app was on 3/01/19).

-March 2019 statement - $0
-April 2019 statement $3,895 (balance due as of 5.16.19 - $900)

I need to stop - lol.

Congrats, well done. The advice given here is amazing.

Re: Navy Federal Credit Union Cash Rewards Credit Card

Anonymous — Thu, 16 May 2019 08:43:54 GMT

Thank you!

Re: Navy Federal Credit Union Cash Rewards Credit Card

FicoGuy2019 — Thu, 16 May 2019 10:35:13 GMT

Congrats. I saw in your other post you asked for a CLI after approval. Did you let them pull EQ or was 20k your original SL?

Re: Navy Federal Credit Union Cash Rewards Credit Card

Anonymous — Thu, 16 May 2019 11:25:29 GMT

Congrats!! That's a great SL and card with NFCU. And awesome 3x CLI on the AmEx!!!!

Re: Navy Federal Credit Union Cash Rewards Credit Card

Anonymous — Thu, 16 May 2019 11:30:31 GMT

@Anonymous wrote:
Well... I just attempted the 3x CLI with AMEX - I was approved - 5k to 15k (original AMEX app was on 3/01/19).

My FICO 8 Score was 690 (per the AMEX and Experian app).

-March 2019 statement - $0
-April 2019 statement $3,895 (balance due as of 5/16/19 - $900)

I need to stop - lol.

With your new Amex limit now at $15,000 this means your util ratio

on this card is now 6% (900/15000). Assuming that the balance on

the rest of your cards are at 0, by default or by design you're now a

practitioner of AZEO (all zeroes except one). Well done!

If you keep practicing AZEO going forward while growing your CLs

with soft pulls wherever possible, your scores should keep rising.

Re: Navy Federal Credit Union Cash Rewards Credit Card

Anonymous — Thu, 16 May 2019 11:42:11 GMT

Congrats on your approval and SL! NFCU is a great addition. I think you have some solid cards and giving them some time to grow will only make them better.

Re: Navy Federal Credit Union Cash Rewards Credit Card

tbque — Thu, 16 May 2019 11:50:39 GMT

Congrats on the NFCU approval and strong SL. Also way to go on the 3xCLI on the AmEx, you’re well on your way!

Re: Navy Federal Credit Union Cash Rewards Credit Card

Anonymous — Sat, 01 Jun 2019 18:26:34 GMT

Thank you!

No, I did not let them pull my Equifax Credit Report for the CLI for the GO Rewards Credit Card (25k SL).

Yes, 20k was was the SL for the Cash Rewards Credit Card.

I hope the above answers your question(s).

Re: Navy Federal Credit Union Cash Rewards Credit Card

Anonymous — Sat, 01 Jun 2019 20:36:06 GMT

Congratualtions on your nice SL!! IMHO, I might want to re-think closing AMEX/BOA cards as for the most part, their CLI are SP, again just my thoughts