@bluewolf1017 wrote:My income is approximately 90k. Back in Feb I had approximately 7 credit cards with a FICO score around 675. My total limits were around 40k combined. I've had a chase card and a discover card both with 10k limits each for around 5 years. My utilitization was just over 30% at the time. I've had my NFCU accounts for around two years. I was looking for a good new all around card for use for my primary spending. So I did NFCU's preapproval and they said I was preapproved for all the cards. I went ahead and and applied for the Flagship for the 2%. I was denied and after a recon they said they wouldn't consider me for the Flagship but I was a likely candidate for the More Rewards. I applied for that one and they gave me a starting limit of $1000. I figured I'd take it, use it heavily and pay it off before it posts every month.
Since then I've paid off all my credit card debt, reporting at 0% util now. My FICO score has increased to 735. I have approximately 15k in my NFCU checking/savings accounts combined. I've put approximated 14k in the last 3 months on my NFCU AMEX and it's been paid in full before every statement posting. I was also added to my wife's NFCU flagship as an authorized user that she was instantly approved for a 25k starting limit.
With all that being said I've been reading a lot of people have had luck applying for a 2nd card and a CLI on their first card at the same time with NFCU.
What's the best way to do this? All online or over the phone? Also which do I do first, the new application or the CLI?
I'd appreciate the help and advice. My boss lets me use my personal credit card for work purchases and he reimburses me on my next check which is why my usage is so heavy. I'd like to just maximize my rewards by having the 2% all the time.
@bluewolf1017 First, apply for the 2nd card. Online portal, on the phone with the csr or the app does not matter.
Second, once 2nd card approved, apply for the CLI on the first card. Do not apply over the phone with csr or you may get a HP Hard Pull inquiry.
Purpose, you want to yield max credit.
@bluewolf1017 wrote:Perfect. That's exactly what I needed to know. Thank you!
Good luck. Hope to read of your approval and CLI request.
It's recommended you apply for the new card first and then ask for the limit increase on the original card. If you do the CLI request 1st you might get denied for the new card for reaching the max limit. You can do these requests on the app or website. Best wishes to you on both requests!
@bluewolf1017 wrote:Since then I've paid off all my credit card debt, reporting at 0% util now. My FICO score has increased to 735.
By the way, you want to report a non zero balance. If you report all zero $0, you may be losing FICO points. Let at least one revolving account report $10-$20.
@bluewolf1017 wrote:Thanks for the advice. I have one chase card that my storage unit is set to autopay on ($79) and I let that one report. Do you believe that to be sufficient?
Thanks!
That will be good. Take into consideration with Chase, they do off cycle report your balance to the CRA Credit Reporting Agencies once you pay your account to zero. Hopefully, during that time you will have another account to report a non zero balance.
@bluewolf1017 wrote:
@AllZero wrote:
@bluewolf1017 wrote:Thanks for the advice. I have one chase card that my storage unit is set to autopay on ($79) and I let that one report. Do you believe that to be sufficient?
Thanks!
That will be good. Take into consideration with Chase, they do off cycle report your balance to the CRA Credit Reporting Agencies once you pay your account to zero. Hopefully, during that time you will have another account to report a non zero balance.
Oh great, definitely didn't know that. I appreciate the advice for sure!!
That's one of the good and bad thing about a Chase account. I see it as a positive, though.