topic Re: NFCU Transferring CC limits - Score impact? in Understanding FICO® Scoring

NFCU Transferring CC limits - Score impact?

travisp33 — Thu, 09 Jun 2022 18:07:43 GMT

Scenario: I have an NFCU CashRewards card with a 29k limit, and it is one of my oldest cards. Just approved for an NFCU Platinum card at 10K, reconned it and they denied a limit increase. Response was basically I am at internal limits with them. I did just refi my home loan over to them and did a car pre-approval too, so I have alot going on.

Would having 20k of the CR card limit transferred to the Platinum card hurt my score, because the bureaus would see the limit on the single trade line reduced?

What if I did a product change on the CR Card to something like the MoreRewards? I'm not clear if that would show as one account closed and a new one opened, or if I would retain the inception date?

Thanks!

Re: NFCU Transferring CC limits - Score impact?

simplynoir — Thu, 09 Jun 2022 18:18:42 GMT

Credit reports don't care about your limits unless it impacts the utilization of that particular card or overall utilization. You are fine to move around limits as needed to better suit your financial needs. With product changes unless NFCU has a different policy you will keep the history of the account intact if you decide to go that route

Re: NFCU Transferring CC limits - Score impact?

SouthJamaica — Fri, 10 Jun 2022 02:45:12 GMT

@travisp33 wrote:
Scenario: I have an NFCU CashRewards card with a 29k limit, and it is one of my oldest cards. Just approved for an NFCU Platinum card at 10K, reconned it and they denied a limit increase. Response was basically I am at internal limits with them. I did just refi my home loan over to them and did a car pre-approval too, so I have alot going on.

Would having 20k of the CR card limit transferred to the Platinum card hurt my score, because the bureaus would see the limit on the single trade line reduced?

Once both have reported, it will have no effect. Even before then, it may have no effect.

What if I did a product change on the CR Card to something like the MoreRewards? I'm not clear if that would show as one account closed and a new one opened, or if I would retain the inception date?

Normally that would not show as one account closed and a new account opened. But sometimes these things get screwed up in the way they're reported to the bureaus. My question is... why would you want to do that?

Thanks!

Re: NFCU Transferring CC limits - Score impact?

travisp33 — Fri, 10 Jun 2022 20:43:59 GMT

Thought the MoreRewards would be better for groceries\dining, but based on your response, I am second guessing myself?

Re: NFCU Transferring CC limits - Score impact?

OmarGB9 — Tue, 14 Jun 2022 07:10:55 GMT

@travisp33 wrote:
Thought the MoreRewards would be better for groceries\dining, but based on your response, I am second guessing myself?

If it would fit your spend patterns better, go for it. But as far as the CL reallocation, those are very much YMMV at the moment, seemingly only getting approved when doing a BT.

Re: NFCU Transferring CC limits - Score impact?

travisp33 — Wed, 15 Jun 2022 22:28:38 GMT

Just an FYI for future readers - I ended up "secure messaging" NFCU and they did transfer 20k of my limit from my CR to my new Platinum account.