topic Re: NFCU 2nd Card approval odds for the Flagship in Credit Card Applications

NFCU 2nd Card approval odds for the Flagship

Anonymous — Mon, 13 Jul 2020 07:14:16 GMT

Hi all! I am approaching my 91/3 and I want to apply for the Flagship. My current TU FICO is 765, I don't have any baddies, utilization is 1%, and no debt. I currently have 11 other cards and My last inquiry and newest account was my NF More Rewards 3 months ago with a small SL of only $500, not sure why so low. I also have a checking and savings with NF. What are my chances of approvals for the Flagship? Or what other card do you recommend? Any suggestions would be helpful.

Re: NFCU 2nd Card approval odds for the Flagship

M_Smart007 — Mon, 13 Jul 2020 07:20:35 GMT

@Anonymous wrote:
Hi all! I am approaching my 91/3 and I want to apply for the Flagship. My current TU FICO is 765, I don't have any baddies, utilization is 1%, and no debt. I currently have 11 other cards and My last inquiry and newest account was my NF More Rewards 3 months ago with a small SL of only $500, not sure why so low. I also have a checking and savings with NF. What are my chances of approvals for the Flagship? Or what other card do you recommend? Any suggestions would be helpful.

Hi @Anonymous and Welcome!

With a low starting CL on your first card, I would not recommend Flagship for your 2nd card,

as the minimum CL is $5000 ..it is possible that you could not meet that requirement and be denied.

Plus right now the Flagship has no sign up bonus incentive.

I would go for the CashRewards ... you could always product change it to Flagship,

down the road when you have a $5000 limit.

Also some good reading here;

https://ficoforums.myfico.com/t5/Credit-Card-Applications/Navy-Federal-Thread-for-CLI-and-Additional-Cards/td-p/3419729

Re: NFCU 2nd Card approval odds for the Flagship

Anonymous — Mon, 13 Jul 2020 07:30:22 GMT

@M_Smart007 Thank you for your advice. I was just reading a few scenarios where one person went from a secured card to a 25k SL Platinum. Another situation, someone went from a 1k SL to a 25k Flagship. Their FICO were around 650. Do you think I will get denied at least a 5k SL?

Re: NFCU 2nd Card approval odds for the Flagship

M_Smart007 — Mon, 13 Jul 2020 07:38:17 GMT

@Anonymous wrote:
@M_Smart007 Thank you for your advice. I was just reading a few scenarios where one person went from a secured card to a 25k SL Platinum. Another situation, someone went from a 1k SL to a 25k Flagship. Their FICO were around 650. Do you think I will get denied at least a 5k SL?

@Anonymous I would not chance a denial, go for the CashRewards, spend and get the "sign up bonus"

"Plus, earn $150 bonus cash back when you spend $2,000 within 90 days of account opening."

If you get $5000 or more, you can ask them to change it to a Flagship.

(Wait until you get the CashRewards Sign up Bonus, before changing to the Flagship)

Re: NFCU 2nd Card approval odds for the Flagship

AllZero — Mon, 13 Jul 2020 07:40:18 GMT

@M_Smart007 wrote:
@Anonymous wrote:
Hi all! I am approaching my 91/3 and I want to apply for the Flagship. My current TU FICO is 765, I don't have any baddies, utilization is 1%, and no debt. I currently have 11 other cards and My last inquiry and newest account was my NF More Rewards 3 months ago with a small SL of only $500, not sure why so low. I also have a checking and savings with NF. What are my chances of approvals for the Flagship? Or what other card do you recommend? Any suggestions would be helpful.
Hi @Anonymous and Welcome!

With a low starting CL on your first card, I would not recommend Flagship for your 2nd card,
as the minimum CL is $5000 ..it is possible that you could not meet that requirement and be denied.
Plus right now the Flagship has no sign up bonus incentive.

I would go for the CashRewards ... you could always product change it to Flagship,
down the road when you have a $5000 limit.

Also some good reading here;
https://ficoforums.myfico.com/t5/Credit-Card-Applications/Navy-Federal-Thread-for-CLI-and-Additional-Cards/td-p/3419729

+3. Income and DTI Debt To Income will also be a factor.

Plus, SUB Sign Up Bonus is worth about a $500 value. Maybe pass on the Flagship for now.

Re: NFCU 2nd Card approval odds for the Flagship

Anonymous — Mon, 13 Jul 2020 07:52:41 GMT

@M_Smart007 Thanks for the input, I think I'll do this, that plan sounds good considering that card is the only one with a SUB. A question about SL, if I'm approved would my SL be the same across the board regardless of the card? I have seen some CashRewards with high SL. Is there a max for each card? For example; would the platinum extend a higher SL than the CashRewards?

Re: NFCU 2nd Card approval odds for the Flagship

Anonymous — Mon, 13 Jul 2020 07:55:43 GMT

@AllZero My DTI is in a very good place. Report almost 100k with no debt. Never carry a card balance, no auto loan, no mortgage payment. Not sure why they only gave me $500 SL. I was baffled and almost closed the account.

Re: NFCU 2nd Card approval odds for the Flagship

M_Smart007 — Mon, 13 Jul 2020 08:01:42 GMT

@Anonymous wrote:
@M_Smart007 Thanks for the input, I think I'll do this, that plan sounds good considering that card is the only one with a SUB. A question about SL, if I'm approved would my SL be the same across the board regardless of the card? I have seen some CashRewards with high SL. Is there a max for each card? For example; would the platinum extend a higher SL than the CashRewards?

@Anonymous, The Under writing for the Platinum, CashRewards, GO Rewards and MoreRewards are basically the same.

The Maximum limit on each of those cards is $50K each and The Flaghip Max, is $80K

(The most you can have is $80K total across all cards with NFCU)

In other words, you cannot have (3) cards with $50K limits each, as The Maximum that Navy allows is $80K

Hope that helps?

Re: NFCU 2nd Card approval odds for the Flagship

M_Smart007 — Mon, 13 Jul 2020 08:07:08 GMT

@Anonymous wrote:
@AllZero My DTI is in a very good place. Report almost 100k with no debt. Never carry a card balance, no auto loan, no mortgage payment. Not sure why they only gave me $500 SL. I was baffled and almost closed the account.

We will never fully know why Navy does, what Navy does .. But I can assure you if you have patience and treat them well,

They will reward you. I have seen it many times. The best thing is to not get frustrated, and keep using/paying on your card.

Re: NFCU 2nd Card approval odds for the Flagship

pt91978 — Mon, 13 Jul 2020 09:25:46 GMT

+100 on the above ^ post by @M_Smart007 . My Fico 9 is only 686, BK7 and serious delinquency blah blah blah, how do I put this, a very dirty file, lol. Started out w/ a secured card, and in just a lil under 9 months later, I have a total limit of 42k across 3 cards w/ Navy.

With your squeaky clean file and a very good DTI ratio, the sky is unlimit for you. Hang in there my friend @Anonymous .

ETA: Look at my 76 gas card, I have it for 5 yr. and 1 mo. and my limit is still only $1480 and have been denied many times for CLI b/c of serious delinquency. lol

Re: NFCU 2nd Card approval odds for the Flagship

Anonymous — Mon, 13 Jul 2020 13:13:59 GMT

@M_Smart007 Yes thanks this was very helpful. I will update the outcome next week. I will shoot for the CashRewards since there's a sub then product change thereafter the sub. Hopefully they will offer a sub for the Flagship once I'm eligible.

Re: NFCU 2nd Card approval odds for the Flagship

Anonymous — Mon, 13 Jul 2020 13:15:58 GMT

@pt91978 @Wow amazing! What was your second card and SL?

Re: NFCU 2nd Card approval odds for the Flagship

pt91978 — Mon, 13 Jul 2020 14:16:59 GMT

@Anonymous wrote:
@pt91978 @Wow amazing! What was your second card and SL?

2nd card (More Rewards) SL was 15k

3rd card (Platinum) SL was 20k

Re: NFCU 2nd Card approval odds for the Flagship

Anonymous — Mon, 13 Jul 2020 14:34:35 GMT

@pt91978 @Thanks I hope to get a hefty SL. That's my main concern.

Re: NFCU 2nd Card approval odds for the Flagship

pt91978 — Mon, 13 Jul 2020 14:56:19 GMT

@Anonymous You're welcome. My only suggestion is to use the card heavily, I guess, rinse & repeat and have a lil patience, and they will reward you tremendously. Best of luck!!

Re: NFCU 2nd Card approval odds for the Flagship

CerebralZulu — Mon, 13 Jul 2020 15:37:13 GMT

@Anonymous wrote:
Hi all! I am approaching my 91/3 and I want to apply for the Flagship. My current TU FICO is 765, I don't have any baddies, utilization is 1%, and no debt. I currently have 11 other cards and My last inquiry and newest account was my NF More Rewards 3 months ago with a small SL of only $500, not sure why so low. I also have a checking and savings with NF. What are my chances of approvals for the Flagship? Or what other card do you recommend? Any suggestions would be helpful.

Another consideration is that people have been getting better results waiting 6 months instead of three. My first was a CR same day as joining and got a $1000 SL. Second card I did at almost 10 months, FS at $25k SL. Build a history with them and you will be rewarded.

Re: NFCU 2nd Card approval odds for the Flagship

Mr_Mojo_Risin — Mon, 13 Jul 2020 21:02:46 GMT

@CerebralZulu wrote:
@Anonymous wrote:
Hi all! I am approaching my 91/3 and I want to apply for the Flagship. My current TU FICO is 765, I don't have any baddies, utilization is 1%, and no debt. I currently have 11 other cards and My last inquiry and newest account was my NF More Rewards 3 months ago with a small SL of only $500, not sure why so low. I also have a checking and savings with NF. What are my chances of approvals for the Flagship? Or what other card do you recommend? Any suggestions would be helpful.
Another consideration is that people have been getting better results waiting 6 months instead of three. My first was a CR same day as joining and got a $1000 SL. Second card I did at almost 10 months, FS at $25k SL. Build a history with them and you will be rewarded.

This is what im doing. My 91/3 is in about week, Im gonna put in for a CLI but wait 6 months to app the 2nd card. I want the best chance to open that Navy vault!!

OP, best of luck to you! I hope you catch a big one!!

Re: NFCU 2nd Card approval odds for the Flagship

recoveringfrombk7 — Mon, 13 Jul 2020 22:23:09 GMT

If the inquiry doesn't bother you the worst thing that happens at 91/3 is a decline.

I applied for my first card 1/30/20 - cash rewards 12% 3900, barely used it

My second 4/30/20 - more rewards 9.65% 12,500, putting around 1-2k on it every month. Also CLI on the cash rewards 3900 -> 9900

And I have a bk7 that is not yet 2 yrs old. Waiting never hurts, but with good DTI and a good navy relationship it is possible to get a good SL at 91/3, plus I'll be eligible for a CLI in another 91/3. This means I've had the card and have used it/benefitted from it plus I'll probably get a limit increase vs waiting 6 months. I'm also that much closer to my third card. Just something to consider.

Re: NFCU 2nd Card approval odds for the Flagship

CerebralZulu — Tue, 14 Jul 2020 14:25:49 GMT

@recoveringfrombk7 wrote:
If the inquiry doesn't bother you the worst thing that happens at 91/3 is a decline.

I applied for my first card 1/30/20 - cash rewards 12% 3900, barely used it

My second 4/30/20 - more rewards 9.65% 12,500, putting around 1-2k on it every month. Also CLI on the cash rewards 3900 -> 9900

And I have a bk7 that is not yet 2 yrs old. Waiting never hurts, but with good DTI and a good navy relationship it is possible to get a good SL at 91/3, plus I'll be eligible for a CLI in another 91/3. This means I've had the card and have used it/benefitted from it plus I'll probably get a limit increase vs waiting 6 months. I'm also that much closer to my third card. Just something to consider.

@recoveringfrombk7 yours may have been one of the last high CLIs. Not quite the 3x previous limit, but not the 4k that they have been giving lately. Good results there.

Re: NFCU 2nd Card approval odds for the Flagship

recoveringfrombk7 — Tue, 14 Jul 2020 15:24:55 GMT

@CerebralZulu wrote:
@recoveringfrombk7 wrote:
If the inquiry doesn't bother you the worst thing that happens at 91/3 is a decline.

I applied for my first card 1/30/20 - cash rewards 12% 3900, barely used it

My second 4/30/20 - more rewards 9.65% 12,500, putting around 1-2k on it every month. Also CLI on the cash rewards 3900 -> 9900

And I have a bk7 that is not yet 2 yrs old. Waiting never hurts, but with good DTI and a good navy relationship it is possible to get a good SL at 91/3, plus I'll be eligible for a CLI in another 91/3. This means I've had the card and have used it/benefitted from it plus I'll probably get a limit increase vs waiting 6 months. I'm also that much closer to my third card. Just something to consider.
@recoveringfrombk7 yours may have been one of the last high CLIs. Not quite the 3x previous limit, but not the 4k that they have been giving lately. Good results there.

@CerebralZulu

They get around 90% of my DD (annual income is 92k), so I think it helps that they see money hitting my account every month in terms of my internal score. Plus I have CDs etc. We are planning to buy a home in 5 years so I wanted to go semi all in with a good CU. Very pleased so far. Much more than I expected with the bk.