topic Re: Hello 2nd NFCU card, goodbye Indigo in Credit Card Approvals

Hello 2nd NFCU card, goodbye Indigo

msml_2020 — Mon, 30 Nov 2020 01:47:47 GMT

I am just over a year out from Chap 7 discharge, and have good news to report. One of my first cards post DC was Indigo with a $300 limit. I used the crap out of it, but always PIF every month. In June, I joined NFCU and got an NRewards Secured with a $200 limit. Decided to pull the trigger on a Cash Rewards card with NFCU last week. They approved me for a $2500 SL, which was totally awesome for me. I know some have gotten much more generous limits, but I'm still treading lightly and fine with a lower limit. I thought my 6 month statement would cut on 11/20 on the nRewards, but while that statement was the 6th, it wasn't a full statement. Am optimistic that the nRewards will graduate after 12/20.

As a result of all the NFCU love, I am happy to say I called Indigo and closed my account. They asked why, and I told them it was a starter card and I don't want to pay the AF that will hit at the end of next month. They also asked if I would keep it open for emergencies, and I declined. A card that costs me $99 a year for a $300 limit isn't a good deal. I appreciate the assistance on the rebuild, but our relationship is over. Surge is next, which should happen next week.

DP's:

Fico8 Scores

EX: 639

TU: 638

EQ: 637

Util: 27%

DTI: 16%

NFCU pulled TU for the Cash Rewards card.

Re: Hello 2nd NFCU card, goodbye Indigo

AllZero — Mon, 30 Nov 2020 01:48:44 GMT

Congratulations on your approval!

Re: Hello 2nd NFCU card, goodbye Indigo

coreyb80 — Mon, 30 Nov 2020 01:51:32 GMT

Congrats on the approval!! You did the right thing shutting down Indigo. I'll be doing the same thing early next year as well.

Re: Hello 2nd NFCU card, goodbye Indigo

GApeachy — Mon, 30 Nov 2020 02:03:52 GMT

Just be sure to log in to your Indigo acct. monthly for a looooong time to make sure you don't get a fee tacked on at some point to cause you a late or anything like that. Congrats btw

Re: Hello 2nd NFCU card, goodbye Indigo

M_Smart007 — Mon, 30 Nov 2020 02:07:37 GMT

Congratulations!

Re: Hello 2nd NFCU card, goodbye Indigo

gdale6 — Mon, 30 Nov 2020 02:10:14 GMT

Good job, grats on the 2nd NFCU

Re: Hello 2nd NFCU card, goodbye Indigo

Anonymous — Mon, 30 Nov 2020 02:12:12 GMT

@msml_2020 when you close your reflex next reqeust that they send you it by snail mail also. I did it on every card i closed. Just to have proof they closed it with zero balance. But big congrats to your approval!!!

Re: Hello 2nd NFCU card, goodbye Indigo

JoeLuvsHisCredit — Mon, 30 Nov 2020 02:17:29 GMT

waytogo.jpg

Re: Hello 2nd NFCU card, goodbye Indigo

coreyb80 — Mon, 30 Nov 2020 02:22:11 GMT

Good info, thank you!

Re: Hello 2nd NFCU card, goodbye Indigo

Anonymous — Mon, 30 Nov 2020 02:32:16 GMT

Congratulations! I'm not so patiently waiting on my 1 year to roll over so i can app for an unsecured Navy 2nd card 🤞

Re: Hello 2nd NFCU card, goodbye Indigo

Anonymous — Mon, 30 Nov 2020 02:34:48 GMT

@Anonymous wrote:
@msml_2020 when you close your reflex next reqeust that they send you it by snail mail also. I did it on every card i closed. Just to have proof they closed it with zero balance. But big congrats to your approval!!!

Very good advice. I did this with my Indigo when I dumped it too - they sent the letter stating it was closed with no balance and in good standing at my request. For what it's worth, CreditOne is known to screw people like that but I had no funny business with Indigo. They did right by me in my closing. Congrats OP - onward and upward.

Re: Hello 2nd NFCU card, goodbye Indigo

Anonymous — Mon, 30 Nov 2020 02:49:15 GMT

Always good to hear another Navy success story. I'm with you—a $2.5 limit sounds just fine! I was elated when Navy gave me 1K for my first card. Why, Disco gave me $800 and I loved the heck out of that card. There's a lot you can do with even a low limit as long as you're always on top of it, sending in payments.

Onward and upward! It's only up from now on!

Re: Hello 2nd NFCU card, goodbye Indigo

dudefromtx — Mon, 30 Nov 2020 02:54:20 GMT

Congrats on your approval!

Re: Hello 2nd NFCU card, goodbye Indigo

Anonymous — Mon, 30 Nov 2020 03:52:14 GMT

Congratulations on your 2nd card!

Also, thank you for the data points. Just for data point sake, you applied for the 2nd Navy Credit card how far along after the 1st and from your BK discharge?

Am I understanding correctly in that you become eligible for a 2nd NFCU (unsecured rather than secured) after 1 year from the date of the BK discharge?

Thanks in advance!

Re: Hello 2nd NFCU card, goodbye Indigo

Meanmchine — Mon, 30 Nov 2020 04:01:59 GMT

Congrats on your new Navy card and GL in your credit journey

Re: Hello 2nd NFCU card, goodbye Indigo

msml_2020 — Mon, 30 Nov 2020 04:34:43 GMT

@Anonymous I'll summarize the timeline for you below:

Nov, 2019 - Chap 7 discharge

June, 2020 - Approval for secured card w/$200 SL

Oct, 2020 - CLI for secured card to $600

Nov, 2020 - Approval for Cash Rewards card w/$2500 SL

I couldn't say which criteria had the most weight - being in good standing on my secured card or being a year out from DC. However, I suspect based on everything I've read here that the good standing was probably more important than the DC being a year old. Hope that helps!

Re: Hello 2nd NFCU card, goodbye Indigo

Anonymous — Mon, 30 Nov 2020 04:40:23 GMT

@msml_2020 wrote:
@Anonymous I'll summarize the timeline for you below:

Nov, 2019 - Chap 7 discharge
June, 2020 - Approval for secured card w/$200 SL
Oct, 2020 - CLI for secured card to $600
Nov, 2020 - Approval for Cash Rewards card w/$2500 SL

I couldn't say which criteria had the most weight - being in good standing on my secured card or being a year out from DC. However, I suspect based on everything I've read here that the good standing was probably more important than the DC being a year old. Hope that helps!

That is excellent information! Thank you for sharing!

Re: Hello 2nd NFCU card, goodbye Indigo

Anonymous — Mon, 30 Nov 2020 07:05:29 GMT

@msml_2020 wrote:

I couldn't say which criteria had the most weight - being in good standing on my secured card or being a year out from DC. However, I suspect based on everything I've read here that the good standing was probably more important than the DC being a year old. Hope that helps!

Yes, in my experience, I think Navy goes more by your status at the moment. When I got approved for the cashRewards card about 7 months after I caught up with my bad 90-day late, I was not in good shape in some ways. High util, low income, mediocre credit score. (However, my debt to income was okay.) The Navy rep I talked to emphasized that I was up to date at the moment–that the bad stuff was behind me and I was keeping up. She seemed to think that I had a shot because of that. And I got a 1K unsecured cashRewards!

And also, I guess they had a way of knowing that if I got a card with them, I'd be ALL IN with them forever. And I am. I love love love my AMEX Navy card and put a lot through it each month.

On "paper" my profile was not great and my baddie was not that old, but they judged me by how I had successfully cleaned up my act. The second card they gave me (when my 90-day-late was about a year old on TU) had a 17K limit. (And I'm low income!)

Re: Hello 2nd NFCU card, goodbye Indigo

gingerflower — Mon, 30 Nov 2020 17:26:28 GMT

Congratulations on your cash rewards cc. Smart decision to get rid of Indigo cc especially with the ridiculous 99 annual fee. But, hey it helped you built your credit.

Re: Hello 2nd NFCU card, goodbye Indigo

cashorcharge — Mon, 30 Nov 2020 17:50:33 GMT

That's great progress! Congratulations on your approval!