NFCU CLI SP?? - Updated again 8/15

[RootDet]

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@Anonymous wrote:

So I hadn't heard anything from my request placed Sunday so called this morning to check status...CLI was declined. Waiting for letter to explain the details. 

TBH...was somewhat of a gut punch. Only a $500 card and requested $2000 (expecting a 3X counter to $1500). Since opening I have carried this card daily, putting about $2k spend through it. Paid off multiple times a month, even letting a little report. Card balance was $130 at time of request. 

Good news...it was a soft pull. All reports frozen. Last SP from Navy and current FICO 9 they have listed is EQ705. 

Wait now for letter and see what the reasoning is. 🤷‍♂️

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I wonder if they went to all SP's now. Usually, for my limit they always want an HP, but this time they processed the clI (denied it) as a SP, which is unheard of in my experience. I have not seen a SP request since I was bellow $25k.  So I am waiting on my letter too. I have a suspicion or two on the reason. 

[Anonymous]

@RootDet   I'm not sure. I know for the longest time all you ever heard about were SP CLI's until a few HP's were noted recently. So on some great advise given here, I locked all three bureaus before requesting. I would think that if that was the reason for my denial they would have first at least requested them to be unlocked. 

On a more positive note, it was my intention to PC my MoreRewards to a CashRewards after the CLI because it fits me better than categories. So I sent a secure message request for such and not only are they going to grant the request, but also lowered my APR from 17.99 to 14.99. So now I'm more confused than ever. Depending on the reason in my letter, I may make a formal request for recon on my limit. We'll see. 

In your situation, I wonder if such high limits don't sometimes trigger a hard pull with the exposure being so much more??

[RootDet]

It is a new experience for me, the high exposure has always been a HP.I thought they actually declined it because I had not signed the loan document sent to me a few days before. I had 23 days to sign it and wasn't feeling rushed. But I see on some FB threads people getting denied for CC's based on not signing their promissory notes. I took it as they did not sign it in Navy's reasonable timeframe, and I was well within the timeline given to me. Just conjecture that si what I am denied for of course. 

[coldfusion]

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@RootDet wrote:

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I wonder if they went to all SP's now. Usually, for my limit they always want an HP, but this time they processed the clI (denied it) as a SP, which is unheard of in my experience. I have not seen a SP request since I was bellow $25k.  So I am waiting on my letter too. I have a suspicion or two on the reason. 

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There was conjecture a while ago that SPs at that point were being used for CLI requests for up to $25K but a request for over $25K would trigger a HP.       I haven't been diligent in keeping up with trends recently so I don't know if that theory was ever debunked or not.

[Anonymous]

@coldfusion I recently was approved via sp for a cli of $4k bringing me 2 $28k on the cash rewards card. @800wannabe420 also got the $4k sp cli. 

[CashBackQueen]

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@AllZero wrote:

Only 2 HP reported from countless SP CLI. It's recommend to request on line or phone app. Doing with CSR may result in HP.

To ensure no HP, freeze your reports.

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@CreditInspired wrote:

Freeze your credit with Equifax, Experian and TransUnion

Credit Bureau	Online	By phone	By mail
	Visit: Equifax Credit Freeze page	1-800-685-1111 (NY residents call 1-800-349-9960)	Equifax Security Freeze, P.O. Box 105788 Atlanta, GA 30348
	Visit: Experian Credit Freeze page	1-888-EXPERIAN (1-888-397-3742)	Experian Security Freeze, P.O. Box 9554 Allen, TX 75013
	Visit: TransUnion Credit Freeze page	1-888-909-8872	TransUnion LLC, P.O. Box 2000 Chester, PA 19016

I found this on https://clark.com/credit/credit-freeze-and-thaw-guide/

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Thank you for the resources! Was able to painlessly freeze all three of my reports in about 10 minutes!

[Anonymous]

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@Irv02 wrote:

@Anonymous I just put in for CLI on 7/23/2020 for my Cash Rewards CC on the mobile app and is was a SP.   They gave me $3,000 even though I asked for $5,000. I'm happy!!

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Congratulations!!!

[Anonymous]

Well to follow up... exactly one week after my CLI denial and PC change to CashRewards...I was playing around on the website late at night and went to their prequal link. I submitted and showed qualified for all (I know it's not very reliable). I don't know why, I honestly didn't want to do it but temptation got the best of me, but I applied for the Platinum card and was instantly approved for $7200. So I submitted another CLI on my now CashRewards and after two days was increased to $1500 (3X SL).

I don't really know what changed...Navy provided cost of credit with the same EQ9 score of 711 as before. My Navy score was 302 (I think) which was lower than my original score. I didn't have an addition statement cut (21st) and was at 92 days so I didn't try too early. I'm not sure but I'll take it.

I said this after my PCR approval but HAVE to garden now. Looking at a new vehicle next April and want my accounts aged some and scores optimized for that. Thanks everyone for the help in the forums!!

[cashorcharge]

Congratulations @Anonymous That's terrific!!

Glad it worked out in the end

[Anonymous]

@cashorcharge  Thank you very much. Was kinda bummed about the original CLI denial...not going lie. Had absolutely zero intention on the 2nd card or would have done that first, but be that as it may, it happened. I'm happy for the outcome, just doesn't seem to make much sense how it all transpired!