topic Re: 91/3 Math So Confusing in Credit Cards

91/3 Math So Confusing

Anonymous — Thu, 16 Aug 2018 02:15:26 GMT

Ok...Julian calendars say that 91 days from May 16th is August 15th but here is a message from NFCU: "Your account was established on 05/16/2018. We require a minimum of 91 days account history be established on new cards before we will increase the credit line. Your account will be eligible for increase review after 08/17/2018."

So, who is correct? How have ya'll been calc'ing 91 days?

Re: 91/3 Math So Confusing

jl4 — Thu, 16 Aug 2018 02:25:36 GMT

The easiest explanation is 91 days has to pass , then you qualify. Not quality on day 91.

Re: 91/3 Math So Confusing

Anonymous — Thu, 16 Aug 2018 02:25:52 GMT

I don't know this with certainty but I believe the 91st day is the day after your third statement drops.

Re: 91/3 Math So Confusing

Anonymous — Thu, 16 Aug 2018 02:40:02 GMT

Sounds like they don’t count the day of your approval and the 92nd day would be 91 “full” days of history. Just a thought. To simplify, don’t include first and last day and you must have 91 days between first and last.

Re: 91/3 Math So Confusing

Pikaboo-icu — Thu, 16 Aug 2018 02:47:40 GMT

@Anonymous wrote:

So, who is correct?

The Bank/CU/Lender.

Let's face it- it's their sandbox, their rules and they get to decide.

One will never argue/jolly/beg/explain or otherwise convince them. LOL

If they say it's 17th then it's the 17th and not a day sooner. They're always happy to tell you the date (as they see it).

That said; I suppose as posted above, don't count the day you got approved and make it after the 91st day has passed, that would be the 17th.

CHEERS

Re: 91/3 Math So Confusing

FinStar — Thu, 16 Aug 2018 03:40:23 GMT

Or, to avoid doing something prematurely simply wait until the following week?

I don't think the world would end or maybe try around the 20th or a week later from 8/17 just to be safe? ¯\_(ツ)_/¯

Re: 91/3 Math So Confusing

Anonymous — Thu, 16 Aug 2018 04:08:00 GMT

@FinStar wrote:
Or, to avoid doing something prematurely simply wait until the following week?

I don't think the world would end or maybe try around the 20th or a week later from 8/17 just to be safe? ¯\_(ツ)_/¯

This exactly. Not sure why so many posters here worry about 61, 91, 181 or whatever amount of days to apply for a CLI. Just wait a few days or even a week like you suggest and then you don't have to worry about being a day early. The opportunity will still be there.

Re: 91/3 Math So Confusing

Anonymous — Thu, 16 Aug 2018 05:07:57 GMT

I see your point but the opposite argument is that many rebuilders are trying to rebuild as quickly as possible. For example my NFCU statement cuts in 48hrs so without a 91/3 CLI, my overall util would be 23% whereas with the CLI would put me below 9% delaying a sizeable FICO increase and possible prequal offers a month or two or three...just the way I see it. Patience is a virtue but Im also very proactive and like to accomplish goals as quickly as possible. Sure I could wait 3 months but that delays my entire goal to reach 750 by 90 days. Im looking to buy a house and frequently am required to use my personal credit to PG business deals as well.

Re: 91/3 Math So Confusing

Caught750 — Thu, 16 Aug 2018 05:42:09 GMT

I understand your point and have tried the same, just did with Discover actually, but with set timeframes the extra statement isn't going to hurt anything (really). If the statement cuts then it cuts. For Amex I counted out 6 months by date and then added a week. I know I'm safe and if I had something huge like a mortgage coming up I'd be extremely disciplined with my util instead of counting days.

Re: 91/3 Math So Confusing

Anonymous — Thu, 16 Aug 2018 06:09:11 GMT

Agreed. Its easy to get to 1% util on a $5,000 max combined limit. Mortgage banks like to see that you can manage 1% util on more than just 5 grand....thats my goal with CLI. It allows available credit to increase without adding a tradeline. Available credit dollar amount does affect the FICO models. Im less worried about inq's considering the mortgage LTV would be 60% to start

Re: 91/3 Math So Confusing

Caught750 — Thu, 16 Aug 2018 06:27:18 GMT

1% is still 1%. I understand that they may like to see that but if you're at 23% now and hoping to get to 9% with an increase you have time. You would need at least one more statement and that one can show the increase. Getting to 1% is as much about paying it off as it is having padding.

Re: 91/3 Math So Confusing

NRB525 — Thu, 16 Aug 2018 06:32:21 GMT

It is possible NFCU applies a “bankers month” to every month. The year is considered 360 days, and each month is 30 days. Even if the month is 31 on the calendar. For computer calculations that want to convert to a generic “month” that is quite easy to program.

Another similar theory: NFCU management says “ we want more than three months between CLI.” The programmer says take the date of the last CLI, increment the Months portion by three, increment the Day Of The Month by one. That is the programmed target date when next CLI will not be outright denied.

So for a CLI in January, you would be somewhat in better luck looking for the next CLI in April

Re: 91/3 Math So Confusing

Anonymous — Thu, 16 Aug 2018 06:59:20 GMT

Folks....I just begrudgingly apped for the Flagship...25k instant approval. That is just NFCU love at its finest. I thought they hated me. Im in tears

Re: 91/3 Math So Confusing

Caught750 — Thu, 16 Aug 2018 07:00:43 GMT

Congrats on a massive approval! And you were upset about a few $k CLI. That certainly makes up for it! 😉

Re: 91/3 Math So Confusing

Anonymous — Thu, 16 Aug 2018 07:05:30 GMT

Homestly I was upset and dismayed all day about it.....Im thrilled. Its such a good feeling to do right by your bank and have it returned.

Re: 91/3 Math So Confusing

Caught750 — Thu, 16 Aug 2018 07:07:29 GMT

The reasons I love Disco and Amex and closed all of my WF accounts! Congrats again!

Re: 91/3 Math So Confusing

Anonymous — Thu, 16 Aug 2018 07:22:32 GMT

I'm still in shock. I was also told by a rep earlier that they are now combining EQ pulls on loan products for 30 days and pulling EQ 99% of the time. I was considering just going for the 15k CLOC and taking out an auto loan but I really would not like another HP at this point

Re: 91/3 Math So Confusing

CreditInspired — Thu, 16 Aug 2018 20:37:09 GMT

@Pikaboo-icu wrote:
@Anonymous wrote:

So, who is correct?

The Bank/CU/Lender.
Let's face it- it's their sandbox, their rules and they get to decide.
One will never argue/jolly/beg/explain or otherwise convince them. LOL
If they say it's 17th then it's the 17th and not a day sooner. They're always happy to tell you the date (as they see it).

That said; I suppose as posted above, don't count the day you got approved and make it after the 91st day has passed, that would be the 17th.

CHEERS

+1.

Took the words right out of my mouth

Re: 91/3 Math So Confusing

OmarR — Fri, 17 Aug 2018 21:46:53 GMT

@Callesun wrote:
I see your point but the opposite argument is that many rebuilders are trying to rebuild as quickly as possible. For example my NFCU statement cuts in 48hrs so without a 91/3 CLI, my overall util would be 23% whereas with the CLI would put me below 9% delaying a sizeable FICO increase and possible prequal offers a month or two or three.

If you are trying to maximize your score for whatever purpose (mortgage, car, etc.), why don't you simply stay below 9% without the aid of a CLI?

Re: 91/3 Math So Confusing

Shooting-For-800 — Sat, 18 Aug 2018 13:10:35 GMT

3 months + a week.

Problem solved.