topic Re: NFCU More Rewards AMEX and nRewards in Bankruptcy

NFCU More Rewards AMEX and nRewards

Mermaid330 — Sun, 05 Mar 2023 18:16:31 GMT

I am looking for some advice on my next application. I just crossed one year post chapter 7 discharge. I started my relationship with NFCU 1 month after and obtained the nRewards secured. It graduated after 6 months and increased to $2000 CL. One week later a major hurricane caused an evacuation of my area and I contacted NFCU to ask for a further CLI in order to front all the money this cost my family. They increased it to $4,500. I would like to replace my mission lane (no rewards) with another NFCU card and the More Rewards AMEX best fits my regular spending. I am looking for insight on the following:

How long after your last CLI can you apply for a new card?

Is one year post discharge "enough" time? I did apply for it 5 months ago during the catastrophe situation and was auto declined. I reconned and was told my bankruptcy was the reason - internal score was 294.

Does the nRewards - now cashRewards auto CLI? My concern is that if they do at the one year mark then it may cut off my chances at a new card due to their "internal unsecured limit" being met. Should I app for the new card before my next and one year statement cuts?

Is NFCU new account/inquiry sensitive? I have 4 inquiries in the last year, 3 in the last 6 months - one being their denial. My last account was opened 10/30

TIA!

Re: NFCU More Rewards AMEX and nRewards

GZG — Sun, 05 Mar 2023 18:53:39 GMT

@Mermaid330 wrote:
Does the nRewards - now cashRewards auto CLI? My concern is that if they do at the one year mark then it may cut off my chances at a new card due to their "internal unsecured limit" being met. Should I app for the new card before my next and one year statement cuts?

contact them and ask for automatic CLIs to be disabled for your cashRewards that way you can app for a second card prior to getting any CLIs to ensure you don't hit your max cap before getting the cards you want

I was able to PC my graduated nRewards that turned into a cashRewards into the MoreRewards without waiting beyond the 6 months it took to graduate, perhaps they could do that for you as well.

As long as you're 91/3 out from being approved for your last card, you should be able to apply for a second card. Getting a CLI has no impact on when you can apply for another card.

As for if you'll be approved and rules surrounding BKs, I have no idea, somebody else should be able to chime in.

@Mermaid330 wrote:
I started my relationship with NFCU 1 month after and obtained the nRewards secured. It graduated after 6 months and increased to $2000 CL. One week later a major hurricane caused an evacuation of my area and I contacted NFCU to ask for a further CLI in order to front all the money this cost my family. They increased it to $4,500.

That's amazing.

Was there like a long phone conversation with multiple supervisors?

You typically have to wait 6 months after graduation for another CLI, it's awesome they were able to do that for you given the circumstances

Re: NFCU More Rewards AMEX and nRewards

Newbie2018 — Mon, 13 Mar 2023 03:07:52 GMT

I did a product change after my card graduated, to the amex.

Re: NFCU More Rewards AMEX and nRewards

Mermaid330 — Mon, 13 Mar 2023 12:49:08 GMT

Thank you! I actually applied for the additional CLI online after they posted on their site they had options to help those affected. It was auto declined so I called and the absolutely amazing rep talked me through writing a recon via secure message. It was reviewed and the limit was increased. So very easy and with that they won my loyalty and gratitude.

I was wondering about applying too close together because I've heard of internal limits for extending credit and I do feel like they gave me more than "normal" with that courtesy increase. I didn't even consider changing the card as I was a collector as I've come to see they call it, prior to my bankruptcy so I had never even heard/thought about it until I joined here.