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I have a question for you guys. I finally got approved for a refinance through Navy Federal, and I also have a Platinum Card with them for $22,100 and a CLOC for $5000 dollars for about 4 months now, do you think I should wait a little longer to pay down some of the debt on my Platinum Card & CLOC before applying for a Cash Rewards Card and asking for a CLI for the CLOC? I used about 45% of the limit and my scores range from about 650 - 680 on all 3. Also just FYI, I applied for CLI for Platinum 91 days after and they denied my request because of my original SL was so high, I believe. Please let me know what your thoughts are. I am itching to apply for that Cash Rewards Card and ask for $15K for the CLOC.
I would certainly try to reduce your utilization. 45% of $22,100 is $9,945. Get that below 9% unless you have a 0% balance transfer that is saving you money.
@Anonymous wrote:I have a question for you guys. I finally got approved for a refinance through Navy Federal, and I also have a Platinum Card with them for $22,100 and a CLOC for $5000 dollars for about 4 months now, do you think I should wait a little longer to pay down some of the debt on my Platinum Card & CLOC before applying for a Cash Rewards Card and asking for a CLI for the CLOC? I used about 45% of the limit and my scores range from about 650 - 680 on all 3. Also just FYI, I applied for CLI for Platinum 91 days after and they denied my request because of my original SL was so high, I believe. Please let me know what your thoughts are. I am itching to apply for that Cash Rewards Card and ask for $15K for the CLOC.
IMHO, I think you were denied because you have probably reached your internal maximum amount with NFCU. Also, I agree with the others, that it's best to get your UT way down, to <9% before applying for a CLI or another CC.
GL to you.
Wrong advice above., navy loves high balances they don't care when cli, they care more about your income first. Also since they give u big sl on first card go for second card (you should get close to half of 1st card sl)..and when cli dont go 91 days go more like 93 / 94 days.