NFCU 2nd Card approval odds for the Flagship

[Anonymous]

Hi all! I am approaching my 91/3 and I want to apply for the Flagship. My current TU FICO is 765, I don't have any baddies, utilization is 1%, and no debt. I currently have 11 other cards and My last inquiry and newest account was my NF More Rewards 3 months ago with a small SL of only $500, not sure why so low. I also have a checking and savings with NF.  What are my chances of approvals for the Flagship? Or what other card do you recommend? Any suggestions would be helpful.

[M_Smart007]

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@Anonymous wrote:

Hi all! I am approaching my 91/3 and I want to apply for the Flagship. My current TU FICO is 765, I don't have any baddies, utilization is 1%, and no debt. I currently have 11 other cards and My last inquiry and newest account was my NF More Rewards 3 months ago with a small SL of only $500, not sure why so low. I also have a checking and savings with NF.  What are my chances of approvals for the Flagship? Or what other card do you recommend? Any suggestions would be helpful.

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Hi @Anonymous and Welcome!

With a low starting CL on your first card, I would not recommend Flagship for your 2nd card,

as the minimum CL is $5000 ..it is possible that you could not meet that requirement and be denied.

Plus right now the Flagship has no sign up bonus incentive.

I would go for the CashRewards ... you could always product change it to Flagship,

down the road when you have a $5000 limit.

Also some good reading here;

https://ficoforums.myfico.com/t5/Credit-Card-Applications/Navy-Federal-Thread-for-CLI-and-Additional-Cards/td-p/3419729

[Anonymous]

@M_Smart007 Thank you for your advice. I was just reading a few scenarios where one person went from a secured card to a 25k SL Platinum. Another situation, someone went from a 1k SL to a 25k Flagship. Their FICO were around 650. Do you think I will get denied at least a 5k SL?

[M_Smart007]

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@Anonymous wrote:

@M_Smart007 Thank you for your advice. I was just reading a few scenarios where one person went from a secured card to a 25k SL Platinum. Another situation, someone went from a 1k SL to a 25k Flagship. Their FICO were around 650. Do you think I will get denied at least a 5k SL?

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@Anonymous  I would not chance a denial, go for the CashRewards, spend and get the "sign up bonus"

"Plus, earn $150 bonus cash back when you spend $2,000 within 90 days of account opening."

If you get $5000 or more, you can ask them to change it to a Flagship.

(Wait until you get the CashRewards Sign up Bonus, before changing to the Flagship)

[AllZero]

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@M_Smart007 wrote:

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@Anonymous wrote:

Hi all! I am approaching my 91/3 and I want to apply for the Flagship. My current TU FICO is 765, I don't have any baddies, utilization is 1%, and no debt. I currently have 11 other cards and My last inquiry and newest account was my NF More Rewards 3 months ago with a small SL of only $500, not sure why so low. I also have a checking and savings with NF.  What are my chances of approvals for the Flagship? Or what other card do you recommend? Any suggestions would be helpful.

---

Hi @Anonymous and Welcome!

With a low starting CL on your first card, I would not recommend Flagship for your 2nd card,

as the minimum CL is $5000 ..it is possible that you could not meet that requirement and be denied.

Plus right now the Flagship has no sign up bonus incentive.

I would go for the CashRewards ... you could always product change it to Flagship,

down the road when you have a $5000 limit.

Also some good reading here;

https://ficoforums.myfico.com/t5/Credit-Card-Applications/Navy-Federal-Thread-for-CLI-and-Additional-Cards/td-p/3419729

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+3. Income and DTI Debt To Income will also be a factor.

Plus, SUB Sign Up Bonus is worth about a $500 value. Maybe pass on the Flagship for now.

[Anonymous]

@M_Smart007 Thanks for the input, I think I'll do this, that plan sounds good considering that card is the only one with a SUB. A question about SL, if I'm approved would my SL be the same across the board regardless of the card? I have seen some CashRewards with high SL. Is there a max for each card? For example; would the platinum extend a higher SL than the CashRewards? 

[Anonymous]

@AllZero My DTI is in a very good place. Report almost 100k with no debt. Never carry a card balance, no auto loan, no mortgage payment. Not sure why they only gave me $500 SL. I was baffled and almost closed the account. 

[M_Smart007]

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@Anonymous wrote:

@M_Smart007 Thanks for the input, I think I'll do this, that plan sounds good considering that card is the only one with a SUB. A question about SL, if I'm approved would my SL be the same across the board regardless of the card? I have seen some CashRewards with high SL. Is there a max for each card? For example; would the platinum extend a higher SL than the CashRewards? 

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@Anonymous, The Under writing for the Platinum, CashRewards, GO Rewards and MoreRewards are basically the same.

The Maximum limit on each of those cards is $50K each and The Flaghip Max, is $80K

(The most you can have is $80K total across all cards with NFCU)

In other words, you cannot have (3) cards with $50K limits each, as The Maximum that Navy allows is $80K

Hope that helps?

[M_Smart007]

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@Anonymous wrote:

@AllZero My DTI is in a very good place. Report almost 100k with no debt. Never carry a card balance, no auto loan, no mortgage payment. Not sure why they only gave me $500 SL. I was baffled and almost closed the account. 

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We will never fully know why Navy does, what Navy does .. But I can assure you if you have patience and treat them well,

They will reward you. I have seen it many times. The best thing is to not get frustrated, and keep using/paying on your card.

[pt91978]

+100 on the above ^ post by @M_Smart007 .  My Fico 9 is only 686, BK7 and serious delinquency blah blah blah, how do I put this, a very dirty file, lol.  Started out w/ a secured card, and in just a lil under 9 months later, I have a total limit of 42k across 3 cards w/ Navy.

With your squeaky clean file and a very good DTI ratio, the sky is unlimit for you.  Hang in there my friend @Anonymous .

ETA:  Look at my 76 gas card, I have it for 5 yr. and 1 mo. and my limit is still only $1480 and have been denied many times for CLI b/c of serious delinquency.  lol