I'm confused here, He's hit their limit? They raised from $1k to $3k though? My brother's card, only about 6 months old. All 3 Ficos in low-mid 700's 1% utilization.
anybody know roughly what their "maximum unsecured credit limit" is? Is it maybe because the account is so new?
It just means that he's hit his limit, at that particular moment in time, with that particular file, and that particular relationship. In short, they're not comfortable giving out more unsecured credit to him... right now.
In time, his NFCU internal score will rise with responsible use, and that ceiling will raise for future CLI's.
Basically, he's got all he can get from them for the time being, no money was left on the table with a small request.
He's done good, drinks are on him tonight!
@Bankrupt2019 wrote:I'm confused here, He's hit their limit? They raised from $1k to $3k though? My brother's card, only about 6 months old. All 3 Ficos in low-mid 700's 1% utilization.
anybody know roughly what their "maximum unsecured credit limit" is? Is it maybe because the account is so new?
@Bankrupt2019 He may have hit the limit on that account. In current environment, Navy has a $4,000 cap or 3x CLI per account, whichever is lesser of the two.
However, if eligible for a 2nd or 3rd card, he might fair better with higher credit line; e.g. starting limit.
For your reading pleasure. Navy Federal Thread for CLI and Additional Cards
@FinStar wrote:With the exception of the Flagship card, all others cap at $50K. What the letter basically says is that NFCU is currently comfortable lending up to $3K at this time based on your brother's history with NFCU, overall profile, income, DTI, scores, etc. Needless to say, it's still a fairly modest increase.
It was a very nice increase, he was just insulted that that's the max they offered him since he's very good with his credit and he's seen how much others get for limits and increase 🤣😂🤣. I told him that I'd bet after a year they open up more for him. Hell, my bankruptcy isn't even a year old and I have a $2k limit. So I do feel like they're a very realistic and generous lender.
@Bankrupt2019 wrote:
@FinStar wrote:With the exception of the Flagship card, all others cap at $50K. What the letter basically says is that NFCU is currently comfortable lending up to $3K at this time based on your brother's history with NFCU, overall profile, income, DTI, scores, etc. Needless to say, it's still a fairly modest increase.
It was a very nice increase, he was just insulted that that's the max they offered him since he's very good with his credit and he's seen how much others get for limits and increase 🤣😂🤣. I told him that I'd bet after a year they open up more for him. Hell, my bankruptcy isn't even a year old and I have a $2k limit. So I do feel like they're a very realistic and generous lender.
If he's past 91 days and 3 statements (eligibility for next card), the 2nd and 3rd cards can REALLY open up as @AllZero eluded to.
@PicoFico wrote:
@Bankrupt2019 wrote:
@FinStar wrote:With the exception of the Flagship card, all others cap at $50K. What the letter basically says is that NFCU is currently comfortable lending up to $3K at this time based on your brother's history with NFCU, overall profile, income, DTI, scores, etc. Needless to say, it's still a fairly modest increase.
It was a very nice increase, he was just insulted that that's the max they offered him since he's very good with his credit and he's seen how much others get for limits and increase 🤣😂🤣. I told him that I'd bet after a year they open up more for him. Hell, my bankruptcy isn't even a year old and I have a $2k limit. So I do feel like they're a very realistic and generous lender.If he's past 91 days and 3 statements (eligibility for next card), the 2nd and 3rd cards can REALLY open up as @AllZero eluded to.
Yeah they only gave him $1000 Sl on his second card. My best guess is it's because his relationship is so new.
@Bankrupt2019 wrote:
@PicoFico wrote:
@Bankrupt2019 wrote:
@FinStar wrote:With the exception of the Flagship card, all others cap at $50K. What the letter basically says is that NFCU is currently comfortable lending up to $3K at this time based on your brother's history with NFCU, overall profile, income, DTI, scores, etc. Needless to say, it's still a fairly modest increase.
It was a very nice increase, he was just insulted that that's the max they offered him since he's very good with his credit and he's seen how much others get for limits and increase 🤣😂🤣. I told him that I'd bet after a year they open up more for him. Hell, my bankruptcy isn't even a year old and I have a $2k limit. So I do feel like they're a very realistic and generous lender.If he's past 91 days and 3 statements (eligibility for next card), the 2nd and 3rd cards can REALLY open up as @AllZero eluded to.
Yeah they only gave him $1000 Sl on his second card. My best guess is it's because his relationship is so new.
You are probably right. With that starting limit on the 2nd card, it's probably a sign he needs more history with Navy and/or to strengthen his overall credit profile.