NFCU CLI or new card? Thoughts?

[Anonymous]

Hey Guys,

3 months ago I opened an NFCU checking, savings, and GoRewards CC. My CL is low on my GoRewards card.. It was via recon, $3,700 currently. I paid down a ton of my util, I went from 79% to less than 20%. CRs haven't been updated so I'll wait for that.... Total avail is roughly 65k with 12k util.

Anyways, now that I'm past the 90 day mark, I'm hoping to get either a CLI or a new card with a higher limit. I really wan to avoid using my higher interest cards..

My question is, if you were me, would you either apply for a CLI on the existing card or apply for a new card? Would you do both? I've read the guide and I have a general idea on what to do, but I'm looking for advice from other NFCU members.

Thanks

[credit_endurance]

If this your only card with them why not go for the credit line increase first then if approved go for a second card. Many on the forums have done this and actually recieved a higher limit in their second card. So I would try for the cli first.

[Aduke1122]

I recommend waiting for the first CC to get a CLI once that happens you will then know the doors are wide open , other than hat you take a huge risk of denial and Hp for nothing . If you have more than 90 days plus 3 statements I would wait for the next AR and hit the love button . You have to have atleast 90 days plus 3 statements

[peghede]

Nope, not every one  goes for cli on 1st card and get it then app for 2nd card.

I have first card sl 23k for over 8 months  ask for cli on it many times (trying to get it to 25k) got declined every time. then i just app for second card and got 7k instantly and 3 months later  cli on second card for 22k k instantly.yet i still cannot cli my first card. so not always same rules for all.

[Anonymous]

---

@peghede wrote:

Nope, not every one  goes for cli on 1st card and get it then app for 2nd card.

I have first card sl 23k for over 8 months  ask for cli on it many times (trying to get it to 25k) got declined every time. then i just app for second card and got 7k instantly and 3 months later  cli on second card for 22k k instantly.yet i still cannot cli my first card. so not always same rules for all.

---

There is no always or never as everyones profile and how the lender views it is unique.  Most don't start with a SL of 23k on a NFCU card. That showed they valued you however they do an account review and their system sets a max for each customer.  I wouldn't worry about that extra 2k on these cards because it is pretty clear NFCU has you set at 23k as the max.  Wait a year and things may change.  I was stuck at 10k for quite a while and last AR was taken to 18k, I am now working on a second card that is at 2k and hope to get it around 20k at the next AR.  Once that happens I plan on giving my CLI requests a break for a year and then hope for a bump closer to the 25k level everyone is trying to achieve.

OP I think most of the time the best thing to do is get your first card over or near 20k and then go after the second card. 

[Anonymous]

Also OP I would wait unti the account review that will happen around May 1st so you don't have as much risk for a HP.  When your credit has improved it is reflected in the AR so the odds of approval goes up quite a bit and the odds of them doing an HP goes down.  Right now the data they have on you comes from the last AR which was done the end of February, it sounds like you have made some good progress in improving your credit since then.

[someg33k]

Guess I am the odd man out.. .

I requested a CLI on my first card - Go Rewards and was shot down.  Turned around and applied for second card - Cash rewards and was approved for 15k

As always YMMV!

[Anonymous]

I'd wait for the AR in May and then request a CLI on the first card.  More people have posted success stories doing it that way versus having a low SL and applying for a second card.  I too received a 3700 SL when I got my NFCU cc a few months ago.  My utilization was a good bit higher then so I'm hoping for a SP CLI after the next AR, 3 statements, 90 days mark has passed. 

[Anonymous]

If you wait until May, I promise to wait as well LOL HAHAHA

Yeah, I was thinking I'll wait, some of the items didn't even update yet so my UTIL is not being reported as low as it should at the moment anyways.

Thanks for the input guys!

[garagebandking]

As others have said, I'd probably wait until the May AR at this point and go for the CLI, see what the outcome of that is and then try for a second card.

Have you considered the CLOC?

How your proceed will really be informed by how willing you are to incur multiple inquiries.