topic NFCU APP in Credit Card Applications

NFCU APP

Anonymous — Fri, 06 Jul 2018 13:33:57 GMT

I joined NFCU just under a week ago and I'm thinking about applying for one of their cards but I don't want to ruin my chances of getting a CLI from Discover and Amex 3x CLI. Assuming I get approved, would a new CC affect my chances of the CLIs?

Current scores are in my signature. Current UTIL is 42%, AAoA 5 years 11 months, and on-time payment history is currently at 92% (I hit a hard spot financially a few years ago but have since recovered).

Re: NFCU APP

FinStar — Fri, 06 Jul 2018 14:50:51 GMT

Any changes that may occur to your overall profile and/or CRs may have potential impacts to some lending decisions, it just depends on the lender.

If you want to optimize things for a better outcome, at least with the AMEX CLI, I'd hold off on the NFCU application for now. But, what might need some tweaking before doing anything would be to lower your utilization to an acceptable level.

Re: NFCU APP

Anonymous — Fri, 06 Jul 2018 15:20:05 GMT

@FinStar wrote:
Any changes that may occur to your overall profile and/or CRs may have potential impacts to some lending decisions, it just depends on the lender.

If you want to optimize things for a better outcome, at least with the AMEX CLI, I'd hold off on the NFCU application for now. But, what might need some tweaking before doing anything would be to lower your utilization to an acceptable level.

I agree that I need to bring down the utilization. I'm should have it down to 10-15% by November.

Re: NFCU APP

RonM21 — Sat, 07 Jul 2018 20:13:29 GMT

I agree, when reading your post OP, the thing that stood out was the utilization. If anything, that may be the current number that hurts you for both CLI's and potential approvals for new cards. If you are able to hold on a bit longer, I think that would be better.