topic Re: NFCU CLI or new card? Thoughts? in Credit Card Applications

NFCU CLI or new card? Thoughts?

Anonymous — Fri, 31 Mar 2017 08:51:19 GMT

Hey Guys,

3 months ago I opened an NFCU checking, savings, and GoRewards CC. My CL is low on my GoRewards card.. It was via recon, $3,700 currently. I paid down a ton of my util, I went from 79% to less than 20%. CRs haven't been updated so I'll wait for that.... Total avail is roughly 65k with 12k util.

Anyways, now that I'm past the 90 day mark, I'm hoping to get either a CLI or a new card with a higher limit. I really wan to avoid using my higher interest cards..

My question is, if you were me, would you either apply for a CLI on the existing card or apply for a new card? Would you do both? I've read the guide and I have a general idea on what to do, but I'm looking for advice from other NFCU members.

Thanks

Re: NFCU CLI or new card? Thoughts?

credit_endurance — Fri, 31 Mar 2017 18:14:23 GMT

If this your only card with them why not go for the credit line increase first then if approved go for a second card. Many on the forums have done this and actually recieved a higher limit in their second card. So I would try for the cli first.

Re: NFCU CLI or new card? Thoughts?

Aduke1122 — Fri, 31 Mar 2017 18:57:38 GMT

I recommend waiting for the first CC to get a CLI once that happens you will then know the doors are wide open , other than hat you take a huge risk of denial and Hp for nothing . If you have more than 90 days plus 3 statements I would wait for the next AR and hit the love button . You have to have atleast 90 days plus 3 statements

Re: NFCU CLI or new card? Thoughts?

peghede — Fri, 31 Mar 2017 22:56:56 GMT

Nope, not every one goes for cli on 1st card and get it then app for 2nd card.

I have first card sl 23k for over 8 months ask for cli on it many times (trying to get it to 25k) got declined every time. then i just app for second card and got 7k instantly and 3 months later cli on second card for 22k k instantly.yet i still cannot cli my first card. so not always same rules for all.

Re: NFCU CLI or new card? Thoughts?

Anonymous — Sat, 01 Apr 2017 04:41:56 GMT

@peghede wrote:
Nope, not every one goes for cli on 1st card and get it then app for 2nd card.
I have first card sl 23k for over 8 months ask for cli on it many times (trying to get it to 25k) got declined every time. then i just app for second card and got 7k instantly and 3 months later cli on second card for 22k k instantly.yet i still cannot cli my first card. so not always same rules for all.

There is no always or never as everyones profile and how the lender views it is unique. Most don't start with a SL of 23k on a NFCU card. That showed they valued you however they do an account review and their system sets a max for each customer. I wouldn't worry about that extra 2k on these cards because it is pretty clear NFCU has you set at 23k as the max. Wait a year and things may change. I was stuck at 10k for quite a while and last AR was taken to 18k, I am now working on a second card that is at 2k and hope to get it around 20k at the next AR. Once that happens I plan on giving my CLI requests a break for a year and then hope for a bump closer to the 25k level everyone is trying to achieve.

OP I think most of the time the best thing to do is get your first card over or near 20k and then go after the second card.

Re: NFCU CLI or new card? Thoughts?

Anonymous — Sat, 01 Apr 2017 04:44:55 GMT

Also OP I would wait unti the account review that will happen around May 1st so you don't have as much risk for a HP. When your credit has improved it is reflected in the AR so the odds of approval goes up quite a bit and the odds of them doing an HP goes down. Right now the data they have on you comes from the last AR which was done the end of February, it sounds like you have made some good progress in improving your credit since then.

Re: NFCU CLI or new card? Thoughts?

someg33k — Sat, 01 Apr 2017 05:27:08 GMT

Guess I am the odd man out.. .

I requested a CLI on my first card - Go Rewards and was shot down. Turned around and applied for second card - Cash rewards and was approved for 15k

As always YMMV!

Re: NFCU CLI or new card? Thoughts?

Anonymous — Sat, 01 Apr 2017 06:11:30 GMT

I'd wait for the AR in May and then request a CLI on the first card. More people have posted success stories doing it that way versus having a low SL and applying for a second card. I too received a 3700 SL when I got my NFCU cc a few months ago. My utilization was a good bit higher then so I'm hoping for a SP CLI after the next AR, 3 statements, 90 days mark has passed.

Re: NFCU CLI or new card? Thoughts?

Anonymous — Sat, 01 Apr 2017 08:48:02 GMT

If you wait until May, I promise to wait as well LOL HAHAHA

Yeah, I was thinking I'll wait, some of the items didn't even update yet so my UTIL is not being reported as low as it should at the moment anyways.

Thanks for the input guys!

Re: NFCU CLI or new card? Thoughts?

garagebandking — Sat, 01 Apr 2017 12:34:33 GMT

As others have said, I'd probably wait until the May AR at this point and go for the CLI, see what the outcome of that is and then try for a second card.

Have you considered the CLOC?

How your proceed will really be informed by how willing you are to incur multiple inquiries.

Re: NFCU CLI or new card? Thoughts?

Anonymous — Sat, 01 Apr 2017 19:28:01 GMT

Yeah I have the CLOC.

Funny, I actually applied for it 3 weeks after I already had an account, thought for sure I wouldn't get it becuase my util was at +80% but they approved it, instantly.

I'm not really concerned about HP anymore, I'm not looking to open a bunch of cards or go on a spree. I just want (with high limits) an NFCU and PenFed and Chase card, that's all!

Re: NFCU CLI or new card? Thoughts?

Anonymous — Sat, 01 Apr 2017 23:15:43 GMT

I agree with what seems to be the consensus opinion but have no first hand knowledge of the subject.

CLI first then 2nd card.

@Anonymous wrote:
I'm not really concerned about HP anymore, I'm not looking to open a bunch of cards or go on a spree. I just want (with high limits) an NFCU and PenFed and Chase card, that's all!

I suppose if HP is not a concern then waiting for May AR doesn't matter. I will say, at least in my life, things that didn't seem to matter to me 6 months ago matter a great deal to me now.

Re: NFCU CLI or new card? Thoughts?

Anonymous — Mon, 03 Apr 2017 13:23:27 GMT

last week I was approved for a CLI increase but resulted as a HP, are you saying I can use the last HP to apply for an additional card with NFCU?