NFCU Flagship CLI or 2nd Card?

[Anonymous]

I got my NFCU Flagship card in March of 2014 with a $5K limit.  I called in October and asked for a CLI to 15K and they instantly offered me $25K over the phone, I happily accepted.  I then app'd for the LOC in Nov and did have to send in my tax returns (self employed) but was approved for 15K.  I use my card A LOT and pay A LOT.  I have already paid $38K on it this month.  Statement date is this weekend.  Never any lates, baddies ... anything on my report etc and moved all my business banking to NFCU at the beginning of the year so have a good bit with them now.  

Should I ask for the full on 80K CLI and ask them to use the tax returns they already have - income should justify the limit with no problem?  Should I app for another card? ... my only hesitation is inquiries - being self employed and owning multiple businesses, my credit does have extra inquiries just from moving banking this year, opening up credit card processing etc during that move .... I haven't applied for any actual credit since the LOC in November and the only CLI's have been SP given by each CC such as Barclays without asking.  What do you all suggest?  And does waiting for the statement to cut have any bearing on results etc?

[Zorasmiles]

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@Anonymous wrote:

I got my NFCU Flagship card in March of 2014 with a $5K limit.  I called in October and asked for a CLI to 15K and they instantly offered me $25K over the phone, I happily accepted.  I then app'd for the LOC in Nov and did have to send in my tax returns (self employed) but was approved for 15K.  I use my card A LOT and pay A LOT.  I have already paid $38K on it this month.  Statement date is this weekend.  Never any lates, baddies ... anything on my report etc and moved all my business banking to NFCU at the beginning of the year so have a good bit with them now.  

Should I ask for the full on 80K CLI and ask them to use the tax returns they already have - income should justify the limit with no problem?  Should I app for another card? ... my only hesitation is inquiries - being self employed and owning multiple businesses, my credit does have extra inquiries just from moving banking this year, opening up credit card processing etc during that move .... I haven't applied for any actual credit since the LOC in November and the only CLI's have been SP given by each CC such as Barclays without asking.  What do you all suggest?  And does waiting for the statement to cut have any bearing on results etc?

Considering NFCU has already performed an income verification go for the $80k!  They can only counter or ask for submission of income to substantiate the request or deny you.  Find out when your last AR occured and do the CLI preferably during business hours.  If you're trying to avoid more inquiries, probably easier to just increase the Flagship account to maximum limit of $80k.  GL

[Anonymous]

Hate to ask a silly question .... where do I go to see the AR?  Should I expect at the end of this month (end of this quarter) or after my statement cuts this month? ....

Thank you in advance!

[Anonymous]

Wow - no responses?

[Spotsy]

NFCU is a great bank....and I would always ask...it never hurts.  I don't believe they will do a HP either.  I would also consider closing those smaller lines of credit and give most of your business to NFCU.  I am it not sure if those smaller ones are new or old so you many need to consider your AAoA if you close those small ones.  Just my humble opinion.  

[Anomalous]

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@Anonymous wrote:

Hate to ask a silly question .... where do I go to see the AR?  Should I expect at the end of this month (end of this quarter) or after my statement cuts this month? ....

Thank you in advance!

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The last AR for most of us was on 4/30/15. The next one should be 6/30/15. The only way to see them is by pulling your credit report a scanning the SPs for NFCU.

[Anonymous]

The small accounts are sock drawer accounts and are old, I just thought you never closed anything ....?

I have the monthly subscription here but I don't think I ever see a SP because I never get notifications or anything ....?  

[Spotsy]

I have a few opinions and pieces of info for you.

1) in regards to the SP on your credit report, you wont get a notification/alert from MyFICO for those.  Those will be visible when you purchase a credit report. SP won't affect your score and other lenders won't see those. Do as many SPs as you want :-)

2) As far as closing accounts....it all depends on your credit profile.  If it is an account that is in the "sock drawer", those may end up hurting your score as they will become inactive.  It you use them every few months and pay them off regularly...no problem...just don't let them sit inactive for 3 or more months.  Those old accounts really help your Average Age of Accounts, but if you have several old accounts and some smaller ones that are not used...consider closing the smaller ones...maybe one at a time over a year. 

Having too too many open accounts will eventually hurt your score as well.  Here are some opinions I use as guides for my credit profile:

1) only open new accounts if you NEED them, intendtend to use them regularly, AND if you are not able to get your existing accounts enlarged or adjusted to meet your needs.

2) don't apply and open too many accounts at once...and if you go on an app spree...keep the best ones and ditch the others.  For example if you open a Cap1 account at 5k and also get a BBVA at 15k...keep the BBVA and close the Cap1.  

3) give your business to those that stand behind you...if NFCU is always there to assist...give them the luv....they see that and will bend over backwards to always help you.

4) if you need to spend some money, especially if it will be long term financing ...consider a loan rather then a CC. Loans have a much better affect than a maxed out CC.

5) always look for advise here at MyFICO first!  Lots of great people and great info!

-Rob

[Scupra]

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@Spotsy wrote:

NFCU is a great bank....and I would always ask...it never hurts.  I don't believe they will do a HP either.  I would also consider closing those smaller lines of credit and give most of your business to NFCU.  I am it not sure if those smaller ones are new or old so you many need to consider your AAoA if you close those small ones.  Just my humble opinion.  

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Just wanted to clarify that NFCU is HP happy. With NFCU, expect a HP for everything haha

[Anonymous]

So still undecided what to do here .... hit the CLI button?  Call about CLI?  Do nothing  Wait unil the end of the month?

I do ALL of my business at NFCU now so I have quite a bit there.  I literally know all 14 people in the wire department and have all 3 businesses running from them and all my merchant deposit going there .... I could also talk to the business banking side of things ..... hmmmm decisions decisions