topic Re: How long should I wait NFCU CLI in Credit Card Applications

How long should I wait NFCU CLI

Anonymous — Thu, 14 Feb 2019 16:47:14 GMT

Hi - I was recently denied CLI on my 3 NFCU cards. I was just wondering if there's a set time I should wait before I reapply. I obviously will wait at least until some of my current situation improves but not sure on how many months minimum is standard. Thanks

Re: How long should I wait NFCU CLI

Jnbmom — Thu, 14 Feb 2019 16:58:28 GMT

What cards do you currently have with them and when was each card issued?

Re: How long should I wait NFCU CLI

Anonymous — Thu, 14 Feb 2019 17:33:52 GMT

I have goRewards, N-Rewards, and Visa Flagship (which I just changed from Visa Platinum). All have limits between 5-7k at usage around 90% for all three. I don't know the exact reason yet as I just only received notification via email. I imagine it's from my some charge offs from 2 years ago (most paid, but 3 won't be paid until June). I have a fico 9 of 610 (according to NFCU) and DTI around 25%.

Re: How long should I wait NFCU CLI

FinStar — Thu, 14 Feb 2019 21:18:16 GMT

When you reference the usage for all 3, are you saying that all 3 are continually carrying up to 90% utilization? Or are these one time events per card? How many HPs did you incur with the CLIs?

I'd be curious to learn what the letter says. But, depending on the reasons, I'd personally hold off on any CLIs for another ~6 months or longer.

Re: How long should I wait NFCU CLI

Anonymous — Fri, 15 Feb 2019 10:50:01 GMT

Hi - thanks for your response! All three cards carry a 90%+ utilization rate continually (though progressively being reduced ever so slowly each month). So far I've officially only one HP, though I received two separate notifications from Credit Karma. I'll post what the letters say once I receive them but yeah I'm thinking 6 months might be a good idea.

Re: How long should I wait NFCU CLI

AverageJoesCredit — Fri, 15 Feb 2019 12:18:35 GMT

Id say the 90% utilization is scaring Navy more than the chargeoffs and score. If you were using them and keeping balances low i believe Navy would trust giving more, just mho.

Re: How long should I wait NFCU CLI

Anonymous — Fri, 15 Feb 2019 16:22:32 GMT

I have to agree with the above posts. I'm assuming you obtained these cards with the charge offs already reporting?

Which would then lead me to think that being around 90 percent utilization is why you aren't receiving your cli's...it might not seem like your at 100 percent or "maxed out" - but by scoring standards you are. There isn't a real difference between being at 90 percent and 100.

Furthermore, carrying that much utilization and being in that "bracket" utl wise is hurting your scores. Navy sees the scores and sees the utl and then they have to choose what the safe bet is in regards to risk... The risk for them is elevated with every percent of utl that you present to them.

This is just my opinion and I'm writing what I wish people wrote to me when I first started here. Id recommend getting that utl way down and build more of a relationship and I think your odds dramatically increase with getting your clis. Also, if you search for information on MYFICO about utilization, there is a ton of information and theories regarding the effects it has on your fico score and how lenders tend to view it.

Good luck!

Re: How long should I wait NFCU CLI

Anonymous — Sat, 16 Feb 2019 18:40:48 GMT

@Anonymous wrote:
I have goRewards, N-Rewards, and Visa Flagship (which I just changed from Visa Platinum). All have limits between 5-7k at usage around 90% for all three. I don't know the exact reason yet as I just only received notification via email. I imagine it's from my some charge offs from 2 years ago (most paid, but 3 won't be paid until June). I have a fico 9 of 610 (according to NFCU) and DTI around 25%.

I'm confident that when you receive your denial notices it will list high revolving utilization at the top of the list. 90% utlization is frightening combined with other unpaid baddies. I'd seriously consider calming the throbbing on utilization before asking for anymore cash! Furthermore, it might be wise to hold off on asking for more credit in general until you can get the current debt burden under control. Wishing you the best of luck!