topic Re: ISO tips on securing a CLI for NFCU Cash Rewards in Credit Cards

ISO tips on securing a CLI for NFCU Cash Rewards

HarleyGirlInDallas — Fri, 26 May 2023 04:43:05 GMT

I have had a Cash Rewards for 3 years and never once received a CLI. The decline is always 'You've reached your maximum level" which is only $2k.

I've kept it paid off. I used almost the whole limit to pay all my bills - including rent - and then paid it off. I've got Flagship & the AmEx also, direct deposit, did the Pledge Loan, and have the 15-month CD. No matter what I do, that Cash Rewards never receives love in way of a CLI.

I visited a local branch and the rep told me that maybe when I opened that Cash Rewards the terms at that time limited it to $2k. Of course, she also didn't know anything about the 91 days / 3 statement policy for the first CLI either. I asked the rep if she's suggesting I should ensure the card is paid off, close it, and then re-apply for another card....she just shrugged her shoulders in response.

TIA for any suggestions on what I should try next to get a CLI on that Cash Rewards card.

Re: ISO tips on securing a CLI for NFCU Cash Rewards

AndySoCal — Fri, 26 May 2023 13:57:43 GMT

@HarleyGirlInDallas Form what I read in you your post below in blue is that the max limit on this card $2,000. If you want a Cash Rewards Card with a limit higher than $2,000 you will need to apply for another card.

I visited a local branch and the rep told me that maybe when I opened that Cash Rewards the terms at that time limited it to $2k. Of course, she also didn't know anything about the 91 days / 3 statement policy for the first CLI either. My thoughts this I call MYFICO speak no lender would never understand. Creditors have credit policies that govern how often a consumer is elgible for a CLI etc. The credit lending policies is what a lender will follow. I asked the rep if she's suggesting I should ensure the card is paid off, close it, and then re-apply for another card....she just shrugged her shoulders in response.

Re: ISO tips on securing a CLI for NFCU Cash Rewards

K-in-Boston — Fri, 26 May 2023 14:01:30 GMT

What are the limits on Flagship and the Amex (I am assuming More Rewards)? It's possible that the you've reached your max is referring to the total amount of revolving limits? Navy's not always super clear in their messaging.

Re: ISO tips on securing a CLI for NFCU Cash Rewards

HarleyGirlInDallas — Fri, 26 May 2023 14:17:27 GMT

Between the 3 cards, it's only a total of $12k with 2k of that being assigned to the CR. I'm nowhere close to the $80k and I've gotten the Flagship and AmExMR in the past 6 months with no problem and higher credit limits. I suppose, at this point, I'm curious if there is any validity to the NFCU reps comment that when I first got CR, it might have different limits imposed upon it that cards opened within the past 3 years don't have.

I don't need high credit limits -- it would just be nice to have the flexibility should a situation ever arise. I learned this the hard way when my Mom passed away in 2020 and I had to come up with the money for her funeral expenses.

Re: ISO tips on securing a CLI for NFCU Cash Rewards

md_rebuild — Fri, 26 May 2023 14:37:30 GMT

You may be at the limit for that card. I've not heard of NFCU bucketing cards, but I've run into a similar situation. After my BK7, I got a secured card ($1K CL), then after 4 months, it unsecured and they raised it to $2K. In the past 4 years, I've gotten the CL up to $14.5K and it seems like I've run into a brick wall. The last 2x I've hit them up for a CLI it's been "you've reached the maximum with this card". I typically put anywhere from $2-3K in spend on this card and it's always had a small balance each month.

The weird thing is that after the 2nd time I got the CLI denial, I applied for the Flagship and got it with a $25K CL, and then 3 months later I applied for the NFCU Amex and got it with a CL of $25K. I'm going to hit the CLI button for the Cash Rewards one more time and then if its still the same denial, I'll just chalk it up that I've reached the max limit and then pay off the balance and move my monthly spend to another card that needs some attention (and a higher CL). I agree that it's silly, telling a customer "hey, you can't have any more room on this card. But, if you apply for this other card, we'll give you almost double your current CL". No ryhme, no reason.

Re: ISO tips on securing a CLI for NFCU Cash Rewards

ptatohed — Fri, 26 May 2023 14:59:51 GMT

What does ISO mean?

https://ficoforums.myfico.com/t5/User-Guidelines-General/Common-Abbreviations/m-p/88458

Re: ISO tips on securing a CLI for NFCU Cash Rewards

HarleyGirlInDallas — Fri, 26 May 2023 15:37:26 GMT

ISO = In Search Of

Re: ISO tips on securing a CLI for NFCU Cash Rewards

HarleyGirlInDallas — Fri, 26 May 2023 15:39:23 GMT

Sounds like you and I have reached similar opinions on our respective situations. I'm going to hold steady for another 3-4 months, give the CLI request another shot. If it's still declined, I'll cancel the card, wait another 3-4 months and go for Platinum.

Re: ISO tips on securing a CLI for NFCU Cash Rewards

GZG — Fri, 26 May 2023 15:43:58 GMT

@HarleyGirlInDallas wrote:
I have had a Cash Rewards for 3 years and never once received a CLI. The decline is always 'You've reached your maximum level" which is only $2k.

I've kept it paid off. I used almost the whole limit to pay all my bills - including rent - and then paid it off. I've got Flagship & the AmEx also, direct deposit, did the Pledge Loan, and have the 15-month CD. No matter what I do, that Cash Rewards never receives love in way of a CLI.

I visited a local branch and the rep told me that maybe when I opened that Cash Rewards the terms at that time limited it to $2k. Of course, she also didn't know anything about the 91 days / 3 statement policy for the first CLI either. I asked the rep if she's suggesting I should ensure the card is paid off, close it, and then re-apply for another card....she just shrugged her shoulders in response.

TIA for any suggestions on what I should try next to get a CLI on that Cash Rewards card.

what is your debt, income and TCL with Navy?

I imagine that you're simply at the maximum unsecured limit for your profile, particularly if you have high debt or lower income.

Only way to fix that is time/better credit/more income and to a lesser extent, greater use of navy products/higher balances

Re: ISO tips on securing a CLI for NFCU Cash Rewards

Brian_Earl_Spilner — Fri, 26 May 2023 15:48:09 GMT

Navy tends to issue a lower limit for your first card and it tends to stay lower than any future cards. It's why it's never recommended to app for the card you want first. Almost always better to save it for the 2nd or 3rd app.

Re: ISO tips on securing a CLI for NFCU Cash Rewards

HarleyGirlInDallas — Fri, 26 May 2023 15:48:09 GMT

I imagine that you're simply at the maximum unsecured limit for your profile, particularly if you have high debt or lower income.....Only way to fix that is time/better credit/more income and to a lesser extent, greater use of navy products/higher balances.

Actually, I'm just the opposite with high income / low debt. The only products I do not have with NFCU is a car loan or mortgage; I use all their other services. I can't get a CLI but I can get approved for 2 different cards with much higher limits...makes no sense. But, I'll try for a CLI again in 3-4 months, if still declined, I'll close the account with a $0 balance, wait a few months and go for a different card. Now, it's simply become a game to me!

Re: ISO tips on securing a CLI for NFCU Cash Rewards

HarleyGirlInDallas — Fri, 26 May 2023 15:50:06 GMT

This is very interesting to learn about the first card having a low CL. I've not read that before anywhere -- but, it would explain this situation.

Re: ISO tips on securing a CLI for NFCU Cash Rewards

SweetCreditObsession — Fri, 26 May 2023 16:10:30 GMT

@HarleyGirlInDallas wrote:
Between the 3 cards, it's only a total of $12k with 2k of that being assigned to the CR. I'm nowhere close to the $80k and I've gotten the Flagship and AmExMR in the past 6 months with no problem and higher credit limits. I suppose, at this point, I'm curious if there is any validity to the NFCU reps comment that when I first got CR, it might have different limits imposed upon it that cards opened within the past 3 years don't have.

I don't need high credit limits -- it would just be nice to have the flexibility should a situation ever arise. I learned this the hard way when my Mom passed away in 2020 and I had to come up with the money for her funeral expenses.

Understood @HarleyGirlInDallas. I'm sorry for the loss of your mom.

Re: ISO tips on securing a CLI for NFCU Cash Rewards

GZG — Fri, 26 May 2023 16:35:39 GMT

@HarleyGirlInDallas wrote:
I imagine that you're simply at the maximum unsecured limit for your profile, particularly if you have high debt or lower income.....Only way to fix that is time/better credit/more income and to a lesser extent, greater use of navy products/higher balances.

Actually, I'm just the opposite with high income / low debt. The only products I do not have with NFCU is a car loan or mortgage; I use all their other services. I can't get a CLI but I can get approved for 2 different cards with much higher limits...makes no sense. But, I'll try for a CLI again in 3-4 months, if still declined, I'll close the account with a $0 balance, wait a few months and go for a different card. Now, it's simply become a game to me!

there's no churning language on the SUB for the cashRewards, want to be the DP we all want to see and close it out and apply for a new one to see if they give you higher than $2k? current sub is $250 for 3k spend in 90 days