NFCU App - 8% Util vs 1% Util - Make a Difference?

[charles23]

Is it worth waiting for my utilization to go from 8% to 1% for my first, new NFCU credit card application?

My DTI is 3.5%.

[Anonymous]

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@charles23 wrote:

Is it worth waiting for my utilization to go from 8% to 1% for my first, new NFCU credit card application?

My DTI is 3.5%.

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Not at all.  I got both my Navy cards (I have 3 total) and I didn't have a zero balance on either.  Can't remember how high I would say maybe 5-10% at the most.  Still got approve but everyone is different.

[charles23]

Thank you for giving me your experience.  

Looking for some more opinions before pulling the trigger.

[Shooting-For-800]

NFCU is an odd duck.

You just have to apply.

I would not go for flagship as your first card though.

GL!

[Anonymous]

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@charles23 wrote:

Is it worth waiting for my utilization to go from 8% to 1% for my first, new NFCU credit card application?

My DTI is 3.5%.

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Like the one guy said.  I wouldn't apply for the Flagship has higher underwriting.   I had two Navy Fed cards before I applied for the Flagship which they gave me last year.   All the other cards have the exact same underwriting.  If you're approved for the Go Rewards for example then it means you could product change to Amex or the Plat card they offer.   Product changes have to be done within first 30 days of approval.  So don't worry that one card has different underwriting vs another card (like I did in the beginning) it's all the same.  

[pinkandgrey]

One thing we know with regard to credit/apps is that there are no absolutes. Everyone's experience will vary. BUT most people would say that utilization under 9% is the ideal. So I can't imagine that 3% is going to be a real advantage over 8%. I think you're as good as you'll ever be as far as utilization is concerned. 

Good luck! 

[charles23]

Thank you guys for all the excellent answers!

Does NFCU look at what my Wells Fargo checking account balance is as part of their analysis for granting me credit?

[Mr_Mojo_Risin]

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@charles23 wrote:

Thank you guys for all the excellent answers!

Does NFCU look at what my Wells Fargo checking account balance is as part of their analysis for granting me credit?

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No, they won't know what your account balance is at another bank.

[Anonymous]

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@charles23 wrote:

Thank you guys for all the excellent answers!

Does NFCU look at what my Wells Fargo checking account balance is as part of their analysis for granting me credit?

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No not at all

[chijo]

I agree with those who say the two DTIs you mention likely won't have much difference between them during approval. I do think there must not be much difference in the underwriting for their various lower level cards at Navy as some have mentioned. When I first applied to them I was only prequalified for one card it seemed. Which they did grant at a $3,000 limit at 12.99 interest as my scores were a lot lower than they are now and around the mid 500s. When I did a prequalify just today for grins all of their cards appeared as me being eligible for them. With my scores now hovering in the 600 and slightly higher range. Same income and about the same DTI. I don't recall seeing them all listed when I applied before. I was thinking they would only offer their secured card the first time around as Discover and Cap 1 did at the time, but they went unsecured for me. I had only a percent or two DTI at most then as well.