topic Re: Navy Federal CLOC CLI to $10,000 in Personal Finance

Navy Federal CLOC CLI to $10,000

Anonymous — Tue, 15 Nov 2016 13:51:09 GMT

Hi everyone,

I initially applied for my NFCU CLOC back in July and requested just 4k as a SL to play it safe. My initial request was granted in July.

Last night I requested an increase to 10k on my CLOC. I don't need the full 15k and it doesn't make sense to ask for more than I need on the CLOC, especially since the CLOCs generally have fairly high interest rates ( as an example, my BECU PLOC rate of 10% is much lower). Navy Federal's CLOC rate is quite a bit higher at 14%, and they don't lower the interest rate on their CLOC products - only on their credit cards.

Approved at 12:11 am (just after midnight) for the full CLI request to $10,000 on my CLOC.

A few data points: I've used the CLOC twice for very small amounts and paid it back within one week.

I also have a Platinum card with NFCU that has a $24,000 CL, so they have been generous and helpful.

Thank you, Navy Federal! You are terrific!

Re: Navy Federal CLOC CLI to $10,000

Anonymous — Tue, 15 Nov 2016 14:35:04 GMT

Congrats to you, humu! Any increase that's more than enough is a bonus, and your CL on your platinum card is really nice, too! Happy for you!

Re: Navy Federal CLOC CLI to $10,000

steelers1 — Tue, 15 Nov 2016 15:13:52 GMT

Congrats!

I will be asking next month myself.

Do you know what bureau they pulled for your CLI?

Re: Navy Federal CLOC CLI to $10,000

Anonymous — Tue, 15 Nov 2016 16:02:47 GMT

Good job and enjoy it.

Re: Navy Federal CLOC CLI to $10,000

Creditaddict — Tue, 15 Nov 2016 16:41:05 GMT

But you took a HP, Why not make the most of the HP?

Re: Navy Federal CLOC CLI to $10,000

CreditMagic7 — Tue, 15 Nov 2016 17:06:18 GMT

@Anonymous wrote:
Hi everyone,

I initially applied for my NFCU CLOC back in July and requested just 4k as a SL to play it safe. My initial request was granted in July.

Last night I requested an increase to 10k on my CLOC. I don't need the full 15k and it doesn't make sense to ask for more than I need on the CLOC, especially since the CLOCs generally have fairly high interest rates ( as an example, my BECU PLOC rate of 10% is much lower). Navy Federal's CLOC rate is quite a bit higher at 14%, and they don't lower the interest rate on their CLOC products - only on their credit cards.

Approved at 12:11 am (just after midnight) for the full CLI request to $10,000 on my CLOC.

A few data points: I've used the CLOC twice for very small amounts and paid it back within one week.

I also have a Platinum card with NFCU that has a $24,000 CL, so they have been generous and helpful.

Thank you, Navy Federal! You are terrific!

Yes they most certainly are.

Congratulations humuhumunukunukuapuaa on another new helpful development.

You have really improved your lineup and this adds to that progress I know you are thrilled to see.

These efforts have really come through for you this year.

NFCU has knocked it out of the park for me too and with only a SP from the AR. Very happy about that.

Wishing you all the joy to your expectations as holiday season nears again.

Re: Navy Federal CLOC CLI to $10,000

AverageJoesCredit — Tue, 15 Nov 2016 18:09:16 GMT

Nice approval Humu, nice to see going only for what you feel you need. Enjoy your new limit

Re: Navy Federal CLOC CLI to $10,000

Aduke1122 — Tue, 15 Nov 2016 18:18:22 GMT

Yay congrats Humu, I have been trying to PM you back , I got your message and wanted to say thank you for your encouragement! It won't let me send you any messages , I have tried and tried and it comes up with this private message does not exist , telling me to hit the back button on my browser . Idk what the deal is !

But anyways thanks again , and CONGRATS on your CLI for your CLOC !

Re: Navy Federal CLOC CLI to $10,000

CreditMagic7 — Tue, 15 Nov 2016 19:59:23 GMT

@Aduke1122 wrote:
Yay congrats Humu, I have been trying to PM you back , I got your message and wanted to say thank you for your encouragement! It won't let me send you any messages , I have tried and tried and it comes up with this private message does not exist , telling me to hit the back button on my browser . Idk what the deal is !

But anyways thanks again , and CONGRATS on your CLI for your CLOC !

@Aduke1122

Unfortunately the board managers changed YET AGAIN the forum software recently which is given my own browser fits. It could be that, I dunno.

I do know that now I cannot KUDOS anyone unless I change browsers (YET AGAIN) and now when I try to Copy/Paste I get a pop up for that too.

When I try to post sometimes the typing board drops down and hides what i'm trying to post. Argggg

But they did add SPELL CORRECTIONS

Re: Navy Federal CLOC CLI to $10,000

Aduke1122 — Tue, 15 Nov 2016 20:43:28 GMT

Thanks CreditMagic for letting me knw this , I didn't know what the heck was wrong with it . I know I tried about 50 different times and different ways to send a PM with no luck .

Re: Navy Federal CLOC CLI to $10,000

Anonymous — Tue, 15 Nov 2016 21:05:26 GMT

Congrats on your CLI!!! Keep up the good work!

Re: Navy Federal CLOC CLI to $10,000

Anonymous — Wed, 16 Nov 2016 12:52:34 GMT

@Anonymous wrote:
Congrats to you, humu! Any increase that's more than enough is a bonus, and your CL on your platinum card is really nice, too! Happy for you!

Thank you weedeb, I'm happy with it! Have a great day

Re: Navy Federal CLOC CLI to $10,000

Anonymous — Wed, 16 Nov 2016 12:53:47 GMT

@steelers1 wrote:
Congrats!

I will be asking next month myself.

Do you know what bureau they pulled for your CLI?

Thanks, steelers! I'm not 100% sure, but since they have pulled EQ for the initial CLOC approval, and since so many others on the board report them pulling EQ for the CLOC, I will say most likely EQ. My back door to EQ is closed right now so unfortunately I can't check.

Re: Navy Federal CLOC CLI to $10,000

Anonymous — Wed, 16 Nov 2016 12:54:24 GMT

@Anonymous wrote:
Good job and enjoy it.

Thank you, Yes-Its-Me! I appreciate it.

Re: Navy Federal CLOC CLI to $10,000

Anonymous — Wed, 16 Nov 2016 15:20:05 GMT

@Creditaddict wrote:
But you took a HP, Why not make the most of the HP?

Everyone is different, but I have a plan for what areas of my credit I want to increase and to what level, and I don't intend to have lenders nor my credit unions concerned that I have crazy amounts of credit. I also want to try to set an example for others of increasing certain lines to a level within my plan, and closing others I no longer need so I don't accumulate too much overall credit. I try to increase my credit responsibly within my plan, not just increasing something all the way to the maximum " because I can."

Plus, when (not if) we do repeat the economic recession in the future that we experienced in 2007 (and economists say it will happen again in the future), I want to be at what I consider reasonable levels with each creditor to lessen the chances of CL reduction due to economic conditions.

Most credit unions and a number of traditional prime lenders are not comfortable with "too much credit" as we've heard over and over again on the board, so my plan lines up fairly well with what they are looking for in addition. Hope that helps answer.

Re: Navy Federal CLOC CLI to $10,000

Anonymous — Wed, 16 Nov 2016 13:00:37 GMT

@CreditMagic7 wrote:
@Anonymous wrote:
Hi everyone,

I initially applied for my NFCU CLOC back in July and requested just 4k as a SL to play it safe. My initial request was granted in July.

Last night I requested an increase to 10k on my CLOC. I don't need the full 15k and it doesn't make sense to ask for more than I need on the CLOC, especially since the CLOCs generally have fairly high interest rates ( as an example, my BECU PLOC rate of 10% is much lower). Navy Federal's CLOC rate is quite a bit higher at 14%, and they don't lower the interest rate on their CLOC products - only on their credit cards.

Approved at 12:11 am (just after midnight) for the full CLI request to $10,000 on my CLOC.

A few data points: I've used the CLOC twice for very small amounts and paid it back within one week.

I also have a Platinum card with NFCU that has a $24,000 CL, so they have been generous and helpful.

Thank you, Navy Federal! You are terrific!
Yes they most certainly are.

Congratulations humuhumunukunukuapuaa on another new helpful development.

You have really improved your lineup and this adds to that progress I know you are thrilled to see.

These efforts have really come through for you this year.

NFCU has knocked it out of the park for me too and with only a SP from the AR. Very happy about that.

Wishing you all the joy to your expectations as holiday season nears again.

Wonderful and kind words from a really fantastic contributor on this board and also a good person. Thank you, CM7, and congratulations on your success as well!

Re: Navy Federal CLOC CLI to $10,000

Anonymous — Wed, 16 Nov 2016 13:01:05 GMT

@AverageJoesCredit wrote:
Nice approval Humu, nice to see going only for what you feel you need. Enjoy your new limit

Exactly, AverageJoes, that is the plan. Thank you!

Re: Navy Federal CLOC CLI to $10,000

Anonymous — Wed, 16 Nov 2016 13:02:17 GMT

@Aduke1122 wrote:
Yay congrats Humu, I have been trying to PM you back , I got your message and wanted to say thank you for your encouragement! It won't let me send you any messages , I have tried and tried and it comes up with this private message does not exist , telling me to hit the back button on my browser . Idk what the deal is !

But anyways thanks again , and CONGRATS on your CLI for your CLOC !

Aduke, glad to hear from you and you're welcome! Sorry you were having trouble and your words made my day better.

Re: Navy Federal CLOC CLI to $10,000

Anonymous — Wed, 16 Nov 2016 13:02:52 GMT

@beautifulblaquepearl wrote:
Congrats on your CLI!!! Keep up the good work!

Thank you, pearl!