cancel
Showing results for 
Search instead for 
Did you mean: 

NFCU only gave $500 limit? What to do?

jfrazie7
Member

NFCU only gave $500 limit? What to do?

Hello! So today I decided to apply for NFCU credit card because I need about $10,000 in funding for my business. I recently paided off everything on my credit cards and my scores are

 

770 exp

734 tu

634 eq - Want update for the past 2 months

 

I'm guess NFCU pulled eq because my limit was only $500. Do yall know where else i should try to apply to get $10k funding? My income is $8,000-$10,000 a month but all of my income is going into my business account with navy federal.

cp1.jpgcp2.jpgcp3.jpg 

 

 

Message 1 of 9
8 REPLIES 8
tel12
Established Contributor

Re: NFCU only gave $500 limit? What to do?

American Express will pull Experian your highest score but the short AAOA's could be an issue.
FICO 8 Scores Eq 821 Ex 820 TU 841, 210K Available CL, 1% Util


Message 2 of 9
alohawinn
Established Contributor

Re: NFCU only gave $500 limit? What to do?

Dont worry. Be patient. Wait for 90/3 statements cut and apply for 2nd card with much higher limit.

Take a look my approval posting for data point:

http://ficoforums.myfico.com/t5/Credit-Card-Approvals/Another-Navy-25-000-Approval-Cant-believe-it/t...

 





Amex Platinum NSPL || Amex Everyday $2k || Amex BonVoy $10k || Amex HH Surpass $16k|| Aviator AA $7.6K || Citi AA $7.2K || Citi Costco $5.5K || NFCU CashReward $26K || Blispay $5K || Discover $12.8K || Paypal Credit $7.6K || VS card $4.6|| Walmart store $8.5K
Message 3 of 9
jfrazie7
Member

Re: NFCU only gave $500 limit? What to do?

Well I applied for chase ink business, chase reverse, American blue cash. All denied. All say 30 day later. Guess ill try again next year.
Message 4 of 9
jlitnns
Established Contributor

Re: NFCU only gave $500 limit? What to do?

Weird, have you tried a CLOC? I'm pretty sure they pull TU on CC's and EQ on the CLOC (which I know is your lowest), but it might be worth a shot...if not Discover?

 

I started with a $500 SL in Jan and was disappointed. 2nd card started at $15k. 


Message 5 of 9
Seezer
Frequent Contributor

Re: NFCU only gave $500 limit? What to do?


@jfrazie7 wrote:
Well I applied for chase ink business, chase reverse, American blue cash. All denied. All say 30 day later. Guess ill try again next year.

You're getting your scores from Credit Karma which uses Vantagescore. Which almost no lender uses. What are your FICO scores? Your fico scores could be lower. 

Message 6 of 9
AverageJoesCredit
Mega Contributor

Re: NFCU only gave $500 limit? What to do?

Hi, going to see if we can get your post moved to approvals for better coverage. Congrats on getting approved by Navy. I know $500 isnt what you were looking for but that can grow bigtime in 3-4 months. Why the big discrepancy with TU and Ex with your Eq. You might also try reconing with Navy. Worth a shot.
Message 7 of 9
Meanmchine
Super Contributor

Re: NFCU only gave $500 limit? What to do?


@jfrazie7 wrote:

Hello! So today I decided to apply for NFCU credit card because I need about $10,000 in funding for my business. I recently paided off everything on my credit cards and my scores are

 

770 exp

734 tu

634 eq - Want update for the past 2 months

 

I'm guess NFCU pulled eq because my limit was only $500. Do yall know where else i should try to apply to get $10k funding? My income is $8,000-$10,000 a month but all of my income is going into my business account with navy federal.

cp1.jpgcp2.jpgcp3.jpg 

 

 


Im sorry OP but realistically I dont see credit card lenders offering you a $10k credit limit at this point when your highest limit is only $2k. My suggestion is to take your financial statements and past tax forms to your local banker and look for  business loan

 

From what Ive read, NFCU normally pulls TU


3/2016 EX 644 CK-TU 642 CK-EQ 660 WalMart- 671.
>12/2020 CCT EX 821 TU 826 EQ 840


"Survival kit contents check. In them you'll find:

- One forty-five caliber automatic
- Two boxes of ammunition
- Four days' concentrated emergency rations
- One drug issue containing antibiotics, morphine,
vitamin pills, pep pills, sleeping pills, tranquilizer pills
- One miniature combination Russian phrase book and Bible
- One hundred dollars in rubles
- One hundred dollars in gold
- Nine packs of chewing gum
- One issue of prophylactics
- Three lipsticks
- Three pair of nylon stockings.

Shoot, a fella' could have a pretty good weekend in Vegas with all that stuff."

Major Kong (Slim Pickens) in Dr. Strangelove 1964
Message 8 of 9
srloring13
Regular Contributor

Re: NFCU only gave $500 limit? What to do?

What are your scores?  How long have your accounts been open?  If you need 10K in funding for your business, why not use the business income to secure a line of credit or credit card or loan?  It would help you achieve larger limits with your current creditors.  Also, you should make sure that are you requesting CLI at least once every 6 months or so to help build you existing credit limits.

 

 


Gardening since 06/01/2019
FILED CH7 BK 02/25/13 -- DISCHARGED 06/10/13
Starting Scores 06/10/13 EQ474 EX538 TU503
Message 9 of 9
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.