topic e in Credit Cards

Should I wait on asking for another NFCU CLI?

Anonymous — Fri, 26 Aug 2016 18:41:08 GMT

In April I was approved for the GoRewards card with a credit line of $2,000.00. Through the online messaging feature, I was able to have that reconsidered and moved to $5,000.00. After the June A/R my limit was increased to 22k. I am wondering since I received such a large CLI if I should hold off on asking for more? I originally planned to hit the love button in early September, but I don't want to push my luck. This is my highest credit limit by far, most of my other lines are around the 6K mark.

Re: Should I wait on asking for another NFCU CLI?

Aduke1122 — Fri, 26 Aug 2016 18:26:47 GMT

So you were able to get your firs CLI after only 2 statement cycles ?

Re: Should I wait on asking for another NFCU CLI?

Aduke1122 — Fri, 26 Aug 2016 18:29:28 GMT

And were you able to do it using the SP method , the CLI stuff is so confusing , most ppl say wait 3 mths and am AR for SP but them others say that your FIRST CLI will always be a hard pull. I'm trying to figure out when we should ask for ours also .

Re: Should I wait on asking for another NFCU CLI?

Anonymous — Fri, 26 Aug 2016 18:35:55 GMT

No, it was after 3 statements. My first statement cut on the 24th on April and I applied for the CLI on July 3rd... So about a week or so after my third statement cut.

Re: Should I wait on asking for another NFCU CLI?

Anonymous — Fri, 26 Aug 2016 18:40:15 GMT

I think there is definitely proof in the waiting 3 cycles. My husband got his card a month after me, and while I was able to get my CLI in July he got the 24 hour message. He only had 2 statements cut at the time. He called in immediately and cancelled the request as it was going to be a Hard pull.

Also, to answer your question, when I waited for the third statement & the recent A/R I was able to get the soft pull for a 17k CLI. I think in the long NFCU thread I read that it is ideal to have three statement and a recent A/R for increased soft pull chances.

From my undstanding the last A/R was at the end of June so the next one will be at the end of this month.

Re: Should I wait on asking for another NFCU CLI?

Aduke1122 — Fri, 26 Aug 2016 18:52:50 GMT

Thank you for this info , I wasn't sure if everyone was counting the first statement being the one that cuts right as you open the card or counting from your next one with actual transactions on it .
This has helped me to figure this out a bit more . Sorry I have no answers for your question but im sure if you wait for the AR and try there is nothing to lose ya know .

Re: Should I wait on asking for another NFCU CLI?

Aduke1122 — Fri, 26 Aug 2016 18:53:51 GMT

Can you share any data points with me , what were your scores when approved , did the change any by the time you asked for CLI?

Re: Should I wait on asking for another NFCU CLI?

Anonymous — Fri, 26 Aug 2016 20:47:38 GMT

I don't mind sharing the data points at all. These forums have been so helpful to me so it's great to pay it forward by sharing info! I started in February with scores in the high 500's, I am now in the 670s, thanks to all of the advice on here.

My Equifax Fico 08 was a 640 when I originally applied. At the time of the CLI it was near a 660 (which is why getting 17K was mouth dropping lol). I also used the 5k heavily and paid back multiple large payments throughout the month. I kept my utilization at around 15 percent on my statement balances. My overall utilization across all of my cards was somewhere around 25%. One of the last baddies I had on my report (aside from a Chapter 7 BK from 2013) was a charge off that aged off my report.

I would look at your online banking and when you see three statements there, you know you have at least reached that milestone. I would then wait for the A/R to take place. Someone may chime in to let us know if that last step is necessary.

Re: Should I wait on asking for another NFCU CLI?

Aduke1122 — Fri, 26 Aug 2016 20:52:27 GMT

Thank you so much for the data pts. I also.started my rebuild I'm Feb of this year and would be absolutely lost if it hadn't been for this wonderful forum and ppl on here .
I was only approved by recon for a 500 SL with my TU at 643 , it was because my SLs that I have been rehabbing still showed up on my reports as defaulted bc I jumped the gun and applied bf I payed my last payment with rehab. That should be off my reports any day now . Which is the last bad thing on there .
Once I explained to Navy that I had been in the Rehab program and only had one payment left they approved me but like I said only for 500 SL , I am blessed they did approve me but crossing my fingers that I will see a big increase when it is time for my CLI. Thanks

Re: Should I wait on asking for another NFCU CLI?

tussking — Fri, 26 Aug 2016 20:55:09 GMT

Wait for the next AR coming in the next 1.5 weeks !

Re: Should I wait on asking for another NFCU CLI?

Anonymous — Fri, 26 Aug 2016 21:02:50 GMT

I'm worried that my last CLI was so high that this one will get denied. I suppose I can always call and cancel if I get the review message.

Re: Should I wait on asking for another NFCU CLI?

Aduke1122 — Fri, 26 Aug 2016 21:11:55 GMT

I have read the big thread on the CLI guide but still get confused, so if it's an instant approval you will get the notice right then but if it needs review you get a 24 hr message, can you cancel if you get this message?

Re: Should I wait on asking for another NFCU CLI?

Aduke1122 — Fri, 26 Aug 2016 21:12:07 GMT

Without getting a HP?

Re: Should I wait on asking for another NFCU CLI?

Anonymous — Fri, 26 Aug 2016 22:07:35 GMT

Yes, when you get an instant approval it is a softpull and the results are immediate. When it says 24 hours it is definitely a hard pull (I believe it is manually reviewed). In our experiences with the 24 hour message, if you call immediately they are able to cancel the CLI request without a hard pull being done. I have had a friend that waited 3 or so hours and it was too late when he called, he got a hard pull and a denial.

Re: Should I wait on asking for another NFCU CLI?

Aduke1122 — Fri, 26 Aug 2016 22:11:23 GMT

Thanks again for all your help ! Good luck to you and your CLI , I hope you get it😊

Re: Should I wait on asking for another NFCU CLI?

Anonymous — Fri, 26 Aug 2016 22:13:30 GMT

Thank you, me too lol!

Re: Should I wait on asking for another NFCU CLI?

UncleB — Sat, 27 Aug 2016 11:30:23 GMT

@Anonymous wrote:
Yes, when you get an instant approval it is a softpull and the results are immediate. When it says 24 hours it is definitely a hard pull (I believe it is manually reviewed). In our experiences with the 24 hour message, if you call immediately they are able to cancel the CLI request without a hard pull being done. I have had a friend that waited 3 or so hours and it was too late when he called, he got a hard pull and a denial.

Keep in mind that depending on their work load, you might not be able to 'withdraw' your request... there are plenty of posts on other threads where people would call NFCU right away and it was too late... the HP had already been done.

Basically, if you really don't want a HP (i.e. mortgage shopping, etc.) you might not want to risk it, since it's YMMV.

Re: Should I wait on asking for another NFCU CLI?

irunfromcredit — Sat, 27 Aug 2016 11:57:51 GMT

@Anonymous wrote:
In April I was approved for the GoRewards card with a credit line of $2,000.00. Through the online messaging feature, I was able to have that reconsidered and moved to $5,000.00. After the June A/R my limit was increased to 22k. I am wondering since I received such a large CLI if I should hold off on asking for more? I originally planned to hit the love button in early September, but I don't want to push my luck. This is my highest credit limit by far, most of my other lines are around the 6K mark.

I don't have much to offer in terms of advice, but I will be following this thread. I am interested in asking for my first CLI on my NFCU card. I just opened it in late June. And my second statement cuts early September. I also realize the 8/31 AR is coming up, so my question is do I wait after my 3rd statement which is October to ask for my first CLI even though the AR ocurred at the end of August? Or do I jump and ask for the CLI after my September statement?

Re: Should I wait on asking for another NFCU CLI?

AverageJoesCredit — Sat, 27 Aug 2016 12:02:59 GMT

All i know is if i went from 2,000 to 22,000 cl i would drop the mic, lay down the sword. , pass the baton and ride off into the sunset never looking back

I would truely be " California Dreaming" !!

Re: Should I wait on asking for another NFCU CLI?

Anonymous — Sat, 27 Aug 2016 12:16:45 GMT

Don't assume that if you get the review message and call to cancel that you won't get a HP. More and more people are reporting that HPs were still received after calling to cancel. Now in some of these cases they received a CLI even though they thought that they had cancelled. It's always a good idea to assume that if you apply for anything credit wise, whether it's for a new card or a CLI on an existing one, that you will receive an HP. If whatever you are applying for isn't worth a HP then it's not worth applying for period.