topic Re: NFCU Flagship -- Time to Pull the Trigger? in Credit Cards

NFCU Flagship -- Time to Pull the Trigger?

Anonymous — Fri, 17 Jan 2020 19:20:25 GMT

I'm looking to step up my credit with a good travel card and nice CL. I opened my account with Navy Federal in September when my credit score was about 620. Navy gave me a cashRewards Visa a few days later for $500 even with low credit.

Since then I cleaned up my report and here is my score from Experian today: EX: 734//EQ: 725// 758. My EQ9 score on NFCU is still showing 758 and my TU8 score from Regions Bank is showing 778. (Both scores are a little older.) I just purchased a 2017 Honda Fit through NFCU on 12/23/19. (Thanks, NFCU!)

So I think Navy Federal likes me. I already paid my first car payment even though it's not due till February. I zero out all three of my credit cards, except for about $10-$15. My oldest credit card is from August 2019, so none of them are more than 6 months old. My Navy CC has already had three statements, and the next one comes out on 1/20 (next Monday).

I'm thinking of calling Navy on Tuesday and applying for the Flagship CC. I want a travel card, and I would also like something for business. But I don't have enough business expenses to justify it yet. And I don't think my personal credit portfolio is complete yet, since I have such low credit limits (total $1700 from four revolving accounts). I plan to ask them for $25000 on the Flagship. I could use that for travel, business, or whatever, and finish restoring my personal credit.

The CC pull should be TU, which is my best score. Is it time to go for it? Can I use this credit request for a Checking Line of Credit and maybe an increase on my cashRewards CL at the same time?

Re: NFCU Flagship -- Time to Pull the Trigger?

Anonymous — Fri, 17 Jan 2020 19:08:00 GMT

With those scores, absolutely, but I wouldn't get one until the SUBs come back in March. The Flagship usually has a $500 value SUB but right now it's got 1.99% on purchases and BTs for 12 months instead. That ends 3/2 and I would expect they will put SUBs back on their cards again.

You cannot use the same HP for a CLOC. That's a different department (auto lending) and they pull EQ usually for it. Right now nobody has reported a HP for a CLI in the last two months though so you should be good to ask there. Just be careful not to make the request before applying for the Flagship so you don't hit the max they're willing to give you for now. The Flagship's $5K minimum limit can be a bit of a barrier for some approvals and their criteria for maximum unsecured limit can be puzzling at times.

Re: NFCU Flagship -- Time to Pull the Trigger?

Anonymous — Fri, 17 Jan 2020 19:19:14 GMT

Thanks for the info. And I was all set to get the signup bonus. I saw on another site that it expired on 1/2/20. Bummer. That means gardening for a couple of months, which ain't particularly easy. Best not to be trigger-happy.

That would put me at the 6-month mark (if I wait till 3/20), which is probably better anyway. Maybe Navy will give me an automatic CLI on the cashRewards by then. One can hope.

Re: NFCU Flagship -- Time to Pull the Trigger?

Anonymous — Fri, 17 Jan 2020 19:19:48 GMT

Yep I have the garden spade in my signature so I know exactly how hard it is to garden but if you do, you have a much better chance of getting that $25K approval you're seeking on the Flagship anyway.

Re: NFCU Flagship -- Time to Pull the Trigger?

Traveler101 — Fri, 17 Jan 2020 19:39:17 GMT

op..you could always attempt what so many have tried and been successful at. Freezing reports and a attempt a cli on current card. Folks saying it's still working. Then apply for your flagship at a later date. That would be a tu hp when you go for it.

Re: NFCU Flagship -- Time to Pull the Trigger?

Anonymous — Fri, 17 Jan 2020 19:41:37 GMT

@Traveler101 wrote:
op..you could always attempt what so many have tried and been successful at. Freezing reports and a attempt a cli on current card. Folks saying it's still working. Then apply for your flagship at a later date. That would be a tu hp when you go for it.

You don't need to freeze reports. CLIs have all been SP. The issue is that NFCU doesn't disclose what their current maximum for you is so if OP goes for a CLI now, they may be maxed internally when they go for the Flagship and burn an inquiry to just have to wait another 6 months or so to get the card.

Re: NFCU Flagship -- Time to Pull the Trigger?

Traveler101 — Fri, 17 Jan 2020 19:47:26 GMT

I see what you are saying now.

Re: NFCU Flagship -- Time to Pull the Trigger?

Anonymous — Fri, 17 Jan 2020 20:48:23 GMT

Guenuinely curious about the attraction to this card, what makes it better than or comparable to other Travel products?

The only plus i notice was the very low AF, versus the $100 credit towards TSA Pre-check. (which i don't use)

However, the points are essentially only redeemable as statment credit on travel purchases. Correct?

And based on the value of redeeming for the AF, they seem to be worth only $0.01 per point. Which seems standard.

Is there something else that I'm missing?

Thanks

Re: NFCU Flagship -- Time to Pull the Trigger?

K-in-Boston — Fri, 17 Jan 2020 20:58:24 GMT

Usually very high starting lines, can grow to $80k vs $50k for their other cards. Very low APRs. No FTF. No cash advance fees. Frequent balance transfer offers that work out to far less than the standard 0% for x months with 3-5% fee. Targeted offers (I recently got 30k points on the card for maintaining a checking balance above X for 60 days). Cell phone and extended warranty coverage.

3x on travel, 2x on everything else. Cash (deposited to Share account) is also redeemable at $0.01/point. (Merchandise and gift cards also available.)

Re: NFCU Flagship -- Time to Pull the Trigger?

AverageJoesCredit — Fri, 17 Jan 2020 20:57:36 GMT

Yes, @Anonymous, you're missing that its Navy Federal lol. Huge limits for many is a huge attraction. Now you can debate all the rewards etc , not my forte, but im sure just getting their flsgship card, lol no pun intended, is good enough for many.

Re: NFCU Flagship -- Time to Pull the Trigger?

Anonymous — Fri, 17 Jan 2020 21:04:57 GMT

Fair enough, I don't need $25K SL. TBH, I'd likely never use it anyway. Even if i went on the biggest vacay of my life.

Sure that SL with potential to grow it may look good on paper. I try not to get caught up that whole craze.

I guess it would be great for utilization purposes since there's no BT fee etc.

Re: NFCU Flagship -- Time to Pull the Trigger?

Anonymous — Fri, 17 Jan 2020 21:23:28 GMT

Yes, fellas, my problem is that I don't have much room to turn around with my current credit limits, plus I want to get some security deposit money back:

NFCU cashRewards (unsecured): $500
Regions Bank Explore Visa (secured) $750 **
OpenSky (secured): $200 **
Regions Bank line of credit (secured): $250 **

** So I could use the $1200 back from these secured loans. But aside from the credit building, my three credit cards and backup LOC are a big help with cash flow. I am a freelancer, and my income is uneven. I just make sure that I PIF each month, but i don't have reserves. So I'm not comfortable closing these secure accounts without something to replace them. Regions said that my CC would "graduate", but they would still need to do a HP. So I figured if I'm going to get a better credit card, I may as well get what I want.

I really love NFCU. I have been thinking about going after the Chase cards, but I don't have any relationship with that bank, and I don't think they would do better for me than Navy.

If I give up my secure revolvers now, I would only have $500 CL remaining. Not good. So if I could get a CLI with a soft pull, why not? I'm not sure I understand this point about maxing out. Please clarify. $500 is nowhere near maxing out.

Re: NFCU Flagship -- Time to Pull the Trigger?

Anonymous — Fri, 17 Jan 2020 21:29:53 GMT

Given that $500 limit, I would just ask for a CLI to $1500. It's generally the most they will approve anyway (3X CLI) and I can't see $1K posing a problem for a Flagship later.

Re: NFCU Flagship -- Time to Pull the Trigger?

Anonymous — Fri, 17 Jan 2020 21:35:42 GMT

Oh, and I stupidly burnt a HP in September asking for a CLI four days after getting approved for the $500 cashRewards. (No SP for me!) They denied it because my credit was new. This was before I learned anything about the credit game. I'm much more strategic now.

Transunion:

Regions Bank - Inquiry from Aug 29, 2019 (for secure accounts)
Regions Bank - Inquiry from Aug 29, 2019 (for secure accounts)
Navy Fcu - Inquiry from Sep 14, 2019 (for cashRewards)
Navy Fcu - Inquiry from Sep 18, 2019 (for cashRewards CLI - denied)
Syncb/jcp - Inquiry from Aug 13, 2019 (for JC Penney - stupid experiment)
Syncb - Inquiry from May 29, 2018 (don't know)

Re: NFCU Flagship -- Time to Pull the Trigger?

Anonymous — Fri, 17 Jan 2020 21:39:24 GMT

$1500? I could ask for more though. Actually, I don't want to ding my credit for such a small increase. I think new cards are better than CLIs anyway. Maybe I will call them and just talk to them on Tuesday.

Re: NFCU Flagship -- Time to Pull the Trigger?

AverageJoesCredit — Fri, 17 Jan 2020 23:21:00 GMT

My TU is a Navy hp graveyard🌚🥴

Re: NFCU Flagship -- Time to Pull the Trigger?

Anonymous — Fri, 17 Jan 2020 23:29:08 GMT

@Anonymous wrote:
$1500? I could ask for more though. Actually, I don't want to ding my credit for such a small increase. I think new cards are better than CLIs anyway. Maybe I will call them and just talk to them on Tuesday.

I would just go ahead and app for a 2nd card. The starting limit will be much higher.

Most likely, Navy will only 3X CLI on your current CL. $1,500 will likely be your new limit after CLI.

Re: NFCU Flagship -- Time to Pull the Trigger?

CreditInspired — Fri, 17 Jan 2020 23:32:51 GMT

Hi OP

What is your income and debt to income?

Re: NFCU Flagship -- Time to Pull the Trigger?

Brian_Earl_Spilner — Fri, 17 Jan 2020 23:36:14 GMT

@AverageJoesCredit wrote:
My TU is a Navy hp graveyard🌚🥴

It's not the only one.

Re: NFCU Flagship -- Time to Pull the Trigger?

Anonymous — Fri, 17 Jan 2020 23:57:08 GMT

Pretty good. I think 15 %. I just have the new car loan at $261/month. $700 rent. $36000/year.