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Hey guys,
I opened my NFCU last month, credit card was initially denied due to high util, reconned and got a 3,700 credit limit.. It's low but it's whatever. I've started to pay down my util now that we're done with home construction, I went from 87% to less than 60% util... Still high but much better. We're talking about 10k in payments towards cards this month. CR's haven't been updated yet, and the same applies to my FICO scores, so next month I'll see a nice jump.
Here's the question, the 15k was very simple to get, three buttons and *boom* approved. What do you think my chances are that they'll increase my credit limit? Does it matter if I do it now or later? I've read conflicting information across the boards about HP when applying for both. I believe the consensus is that I'll take a HP for each the CC and the CLOC. That being said, I guess it doesn't really matter if I try it now vs next month when my scores are higher and my util is lower, from a reporting perspective.
I'm really feeling good today though, so I was considering the luv button.
What do you guys think?
Thanks,
(Mod Edit--Your headline has been updated to clarify why your topic is relevant to the CC Applications forum. --SE)
I believe you now have to wait 6 months for CLI on CC at Navy.
If you want to increase your odds of a SP, then you have to do it after AR which they do during the first week every couple months. If you're ok with a HP, then you can do it whenever, but from the posts here Navy increased time between CLIs from 90 days to 6 months.
Are you asking about a CLI on the CLOC? I believe $15k is the max on a CLOC from NFCU, so there is no possible CLI.
Sorry should have been more clear, I mean a CLI on the credit card.
Crazy, I didn't even realize you had to wait up to 6 months. Does this apply to opening an additional credit card? Might shoot for the 25k on the new card if there aren't any wait times to open.
They know what's up with me. I have stellar credit, but extremely high utilization. Hardly any DTI (combined income of 300k+ with only 28k of reoccuring monthly), which is why my recon worked for the CC. They can also see that I am paying my balances down, including the card I have with them, which I'm sure helped with my instant approval of 15k CLOC. I wonder if I can reach out to the CC department and ask them to raise my existing card given the circumstances since they knew . I'd really rather not deal with all of that if I can just apply for a new credit card thru them.
Thanks!
For the CLI I see some posts of people still getting CLI's at 91 days after an AR, and I have seen some that were declined at 91 days and they had to wait 6 months. YMMV
My wife and I both have NFCU accounts. Each of our first card was $25K instant approval. Both of us applied for second cards and were approved for $5,000. At 3 month point for both (you could actually see 3 statements) we both selected Max Limit and given $25K on our individual second cards. YMMV
Yeah I think I'll play it safe and wait 3 months. I'm just really feeling myself today, 15K CLOC!!!!
@Anonymous wrote:Hey guys,
Here's the question, the 15k was very simple to get, three buttons and *boom* approved. What do you think my chances are that they'll increase my credit limit? Does it matter if I do it now or later? I've read conflicting information across the boards about HP when applying for both. I believe the consensus is that I'll take a HP for each the CC and the CLOC. That being said, I guess it doesn't really matter if I try it now vs next month when my scores are higher and my util is lower, from a reporting perspective.
I'm really feeling good today though, so I was considering the luv button.
What do you guys think?
The CLOC and the CC are different products handled by different departments, so one has no bearing on the other. You wouldn't be able to use the CLOC HP to get a CLI on a CC with NFCU, unfortunately. I'd recommend waiting until the 3rd statement on the CC and trying after that point.