topic Re: NFCU question about applying for new credit card in Credit Card Applications

NFCU question about applying for new credit card

user979797 — Mon, 26 Aug 2024 16:36:17 GMT

Hi all. I have been pre qualified for all of Navys cards for the last several months. Earlier this month i applied for and was approved for a Navy CLI on my Amex card with them. I decided today that I need another Navy card and decided to run the pre qualify and this time it only came back with the secured card. Despite the pre qualification tool what are my chances of approval if i simply go for the Platinum card which is the one i am wanting?

There has been no recent change to my credit reports or inquiries the only thing that chagned this month was the CLI i got with Navy on my Amex.

Thanks for any help

Re: NFCU question about applying for new credit card

cashorcharge — Mon, 26 Aug 2024 17:28:17 GMT

The NFCU Pre-approval is historically not accurate and many people are "approved for all" and then not approved. I would take their response with a grain of salt.

However, over time you will develop an internal score...which you really don't get to see unless you suffer a decline.

Remember, NFCU, BoA and US Bank (all banks you posted on today) all use TU for their HP's so be cautious if you think you're going to hit up multiple in a weeks span

Re: NFCU question about applying for new credit card

coldfusion — Mon, 26 Aug 2024 17:59:24 GMT

@cashorcharge wrote:
The NFCU Pre-approval is historically not accurate and many people are "approved for all" and then not approved. I would take their response with a grain of salt.

However, over time you will develop an internal score...which you really don't get to see unless you suffer a decline.

Remember, NFCU, BoA and US Bank (all banks you posted on today) all use TU for their HP's so be cautious if you think you're going to hit up multiple in a weeks span

BoA uses TU soft pulls in response to CLI requests but their hard pulls for new accounts are almost always from Experian.

Re: NFCU question about applying for new credit card

SouthJamaica — Mon, 26 Aug 2024 19:00:41 GMT

@user979797 wrote:
Hi all. I have been pre qualified for all of Navys cards for the last several months. Earlier this month i applied for and was approved for a Navy CLI on my Amex card with them. I decided today that I need another Navy card and decided to run the pre qualify and this time it only came back with the secured card. Despite the pre qualification tool what are my chances of approval if i simply go for the Platinum card which is the one i am wanting?

There has been no recent change to my credit reports or inquiries the only thing that chagned this month was the CLI i got with Navy on my Amex.

Thanks for any help

What are your credit scores?

Re: NFCU question about applying for new credit card

Lurker22 — Mon, 26 Aug 2024 20:33:27 GMT

@SouthJamaica wrote:
@user979797 wrote:
Hi all. I have been pre qualified for all of Navys cards for the last several months. Earlier this month i applied for and was approved for a Navy CLI on my Amex card with them. I decided today that I need another Navy card and decided to run the pre qualify and this time it only came back with the secured card. Despite the pre qualification tool what are my chances of approval if i simply go for the Platinum card which is the one i am wanting?

There has been no recent change to my credit reports or inquiries the only thing that chagned this month was the CLI i got with Navy on my Amex.

Thanks for any help
What are your credit scores?

remember they use their own scoring system and highly rate your relationship with them

Re: NFCU question about applying for new credit card

user979797 — Tue, 27 Aug 2024 11:22:22 GMT

Ok so I went for it and only got a 1k SL on NFCU platinum. The lowest limit i have ever been given on a new card. My TU score was 723 at the time with 2 inquiries....now 3. That is not at all enough for me to do the balance transfer i needed. Will they let me move my More Rewards AMEX limit over to this new account so that i can utilize the new account? Will they recon that terrible limit?

Thank you so much for any advice.

Re: NFCU question about applying for new credit card

coldfusion — Tue, 27 Aug 2024 11:37:56 GMT

@user979797 wrote:
Ok so I went for it and only got a 1k SL on NFCU platinum. The lowest limit i have ever been given on a new card. My TU score was 723 at the time with 2 inquiries....now 3. That is not at all enough for me to do the balance transfer i needed. Will they let me move my More Rewards AMEX limit over to this new account so that i can utilize the new account? Will they recon that terrible limit?
Thank you so much for any advice.

You can call in and try both approaches. Don't expect a limit increase (but go ahead and ask) but they might allow you to transfer over CL. Explain that you got the Platinum specifically to transfer a balance of $XYZW and the limit you got isn't enough, and if they can't increase that card's limit ask if you can reallocate limit over from your More Rewards card to make the BT happen. NFCU cracked down on the practice of reallocating limits between cards but they will still sometimes do it specifically to allow an imcoming balance transfer.

Re: NFCU question about applying for new credit card

user979797 — Tue, 27 Aug 2024 11:54:36 GMT

Thank you so very much @coldfusion I will give them a call at 8am this morning. I have not had luck in the past for recons of credit limit requests but maybe they will be willing to at least reallocate my Amex limit for the transfer. Thanks so much!

Re: NFCU question about applying for new credit card

MissLiz — Tue, 27 Aug 2024 12:18:59 GMT

@user979797 wrote:
Ok so I went for it and only got a 1k SL on NFCU platinum. The lowest limit i have ever been given on a new card. My TU score was 723 at the time with 2 inquiries....now 3. That is not at all enough for me to do the balance transfer i needed. Will they let me move my More Rewards AMEX limit over to this new account so that i can utilize the new account? Will they recon that terrible limit?
Thank you so much for any advice.

I'm sorry you didn't get the SL you wanted, but congratulations on the approval nonetheless!

Re: NFCU question about applying for new credit card

SouthJamaica — Tue, 27 Aug 2024 15:41:40 GMT

@user979797 wrote:
Thank you so very much @coldfusion I will give them a call at 8am this morning. I have not had luck in the past for recons of credit limit requests but maybe they will be willing to at least reallocate my Amex limit for the transfer. Thanks so much!

It is very difficult to get them to move limits.

But in 6 months you'll be in good position for a credit limit increase.

Re: NFCU question about applying for new credit card

user979797 — Tue, 27 Aug 2024 16:13:26 GMT

Well they denied my appeal for a recon for a larger limit. Now i asked for them to reallocate the limit by taking 12k from my Amex and putting it on the platinum so that i may continue with my balance transfer and they sent the request to the "back office" and i should know in 3-5 biz days. I am guessing this will also be denied and if it is i will take the hard pull and the new account reporting but cancel the card as it will be worthless to me. I do not need a card that i cant use now and wont need it later when i can grow the limit so i'll just close it out.

I am now going to try for either USAA or Wells Fargo or BOA or Discover and hope like hell i get a better result from one of them. While most people get great success with Navy they are not my favorite.... i have had much better luck with other instutations when it comes to getting something i need right away but thats just my experience with them. I'll keep my amex with them but not the platinum if they dont reallocate; which i am guessing they will not.

Thank you all for your amazing help.

Re: NFCU question about applying for new credit card

cashorcharge — Tue, 27 Aug 2024 22:02:28 GMT

@user979797 wrote:
Well they denied my appeal for a recon for a larger limit. Now i asked for them to reallocate the limit by taking 12k from my Amex and putting it on the platinum so that i may continue with my balance transfer and they sent the request to the "back office" and i should know in 3-5 biz days. I am guessing this will also be denied and if it is i will take the hard pull and the new account reporting but cancel the card as it will be worthless to me. I do not need a card that i cant use now and wont need it later when i can grow the limit so i'll just close it out.

I am now going to try for either USAA or Wells Fargo or BOA or Discover and hope like hell i get a better result from one of them. While most people get great success with Navy they are not my favorite.... i have had much better luck with other instutations when it comes to getting something i need right away but thats just my experience with them. I'll keep my amex with them but not the platinum if they dont reallocate; which i am guessing they will not.

Thank you all for your amazing help.

Good Luck...this process has reports of being hit or miss with many people being successful when making the request via their online chat/request versus speaking to a rep. Brevity is your friend, while providing the verbiage that @coldfusion provided

Re: NFCU question about applying for new credit card

user979797 — Wed, 28 Aug 2024 11:03:26 GMT

Well my call in and request that got sent to the back office was a success. I woke up this morning to notice the new platinum card now has a 13K limit so that I can take advantage of the 0.99% rate for 12 months. I am shocked and happily surprised!!!! Just wanted to report and to thank all of you for your time and help.....especially @coldfusion whos advice saved my hard pull and allowed me to utilize the account like i needed to. Thank you so much! I appreciate all of you so much.