Best Process To Get Highest CL for 2nd NFCU Card

[charles23]

I was recently approved for my first NFCU card, a $7,100 Navy Platinum Card.

To have the best chance at getting the highest starting limit for a 2nd NFCU card after the 6 months wait, does it help for me to use my Navy Platinum card in a certain way, like for example should I access a certain amount of the credit line during this 6 month waiting period and then pay it all off in plenty of time before I apply for my 2nd NFCU card?

[Mr_Mojo_Risin]

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@charles23 wrote:

I was recently approved for my first NFCU card, a $7,100 Navy Platinum Card.

To have the best chance at getting the highest starting limit for a 2nd NFCU card after the 6 months wait, does it help for me to use my Navy Platinum card in a certain way, like for example should I access a certain amount of the credit line during this 6 month waiting period and then pay it all off in plenty of time before I apply for my 2nd NFCU card?

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You don't have to wait 6 months to app for the 2nd card, you can app after 91 days and 3 full statements from your 1st approval. Waiting 6 months may or may not help with a larger SL. I waited almost 6 months for my 2nd card and picked up 20K.

Not really anything specific you need to do for a large SL. Some members have reported not using their card much and others using most of their CL and PIF. 

I would just make sure you paid on time.

[charles23]

Thank you for the big heads up its 91 days + 3 full statements NOT 6 months before I can apply for my 2nd NFCU card!

[AverageJoesCredit]

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@charles23 wrote:

I was recently approved for my first NFCU card, a $7,100 Navy Platinum Card.

To have the best chance at getting the highest starting limit for a 2nd NFCU card after the 6 months wait, does it help for me to use my Navy Platinum card in a certain way, like for example should I access a certain amount of the credit line during this 6 month waiting period and then pay it all off in plenty of time before I apply for my 2nd NFCU card?

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Magic 8 ball 🎱 no one can predict what Navy will give for any approval.  Anytime you app its a roll of the dice . Just be sure to pay on time and manage your credit well. It helps build ones relationship with Navy

[Aim_High]

@charles23, one thing I would NOT recommend is applying for a lot of other credit.
(I noticed you tagged your posting with "App Spree.")    I learned from personal experience that NFCU is more sensitive to new accounts than I had expected, and that was even with a high FICO, income, and thick file. If you have been applying for a lot of other cards in the last 6 or 12 months especially, gardening a bit might be a wise choice. I applied with them towards the end of an active 12-18 month period and was denied for card 2 last year. 

Navy likes relationship and even uses an "internal score" in addition to FICO.  We don't know all of the factors that go into it, but you can imagine it includes aspects of your payment history and loan or deposit relationship with Navy besides the obvious FICO score parameters.  While putting large deposits on account with them is not necessary, opening and using other banking products such as checking or savings, money market savings, auto loans or mortgages may help show your interest. I've heard they may like direct deposits.  Like most credit unions, I believe they may care more about debt-to-income ratios more than large banks so paying down debts may be a positive for both your FICO and Navy Internal Scores before a new application.   

Time is your friend with Navy. They warm up more to you as your relationship ages. 

Unlike some lenders, they don't need to see heavy or even moderate use of your credit limit to be approved for increases or new cards. Many of us have gotten their maximum CLIs like clockwork every six months with little to no spending. (Maximum reported increases recently went back to pre-COVID $8K levels from $4K COVID levels.)

[spiritcraft1]

Often, a mid 600's credit score works well.  I had to send a nicely worded secure message asking for a higher SL than what I got 30 months earlier with a 590 TU FICO.  I do not think there is any correct answer.  Just give it a shot and be ready to plead your case if their algorithms / internal score result in a disappointing SL. 

[Yasselife]

@charles23 The Platinum is the card I want to get next once my scores go over 800, aiming for the lowest apr. 
   which one are you getting next? Keep us updated, I'm curious to see how you do.

[AverageJoesCredit]

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@Yasselife wrote:

@charles23 The Platinum is the card I want to get next once my scores go over 800, aiming for the lowest apr. 
   which one are you getting next? Keep us updated, I'm curious to see how you do.

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One doesnt need an 800 to get the Plat or its lowest apr. Some get it off the bat while others might get it after a year

[Times]

how high of a credit limit do you want?

If you really want to secure their highest CL, you can do their secured credit card, max it to whatever they have or whatever credit limit you want. Then wait till it unsecures, then most likely they will be more willing to give you that high limit on a different card. Especially if you are willing to credit limit transfer.