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Navy Federal Cash Rewards -- CLI

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Frequent Contributor

Re: Navy Federal Cash Rewards -- CLI

You could be right. I should add that I do use all of my cards every month I just use them for purchases that I will be paying off before the statement cuts. I think I still get points for recent use of my cards this way. Since I am rebuilding from a BK 7 I feel like each application is very important to me because each new well managed trade-line will help me to get the next one I apply for. So I guess I would call this my rebuilding technique and it probably wouldn’t be too helpful to someone who has a well established clean profile. Yes I really do use all 18 of my cards every month. I have never heard this to be a fact, but I’m hoping that each time a get a monthly “paid” notation on an account on my report (if I have actually used that account that month) I will get some sort of benefit to my credit score. At any rate, I don’t think it could hurt my score and there are some FICO factors that are still a mystery. I’m just coving my bases in case the number or percent of on-time payments is one of those mystery factors.
Message 11 of 16
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Frequent Contributor

Re: Navy Federal Cash Rewards -- CLI

OP I am not suggesting that you don’t use your other cards I’m suggesting that you use them and pay them off before their statements cut. That way you still get credit for using your other cards.
Message 12 of 16
Regular Contributor

Re: Navy Federal Cash Rewards -- CLI

Maybe someone else more knowledgable than I am can weigh in, but it seems to me if your balances are always reporting as "zero," that doesn't tell FICO that you actually are using that card. I say this because I noticed a score bump when I let a card report with a balance, then paid it down, then let another balance report, then paid it off again. I think the FICO computer keeps track of actual balances reported month to month and that's how it knows you're showing "recent use of credit cards." 

Message 13 of 16
New Visitor

Re: Navy Federal Cash Rewards -- CLI

Thank you! Yeah I had them all paid down. Have been very careful since my bankruptcy. My debit card has fraudulent charges so I had to wait to get a new one in and I was on vacation. So this Friday they will all be paid down again.
Message 14 of 16
New Visitor

Re: Navy Federal Cash Rewards -- CLI

You were spot on! lol I paid down the credit cards and just asked for CLI. They have me $3,000. However, in the letter I got in the mail it stated I have reached the 'maximum unsecured credit limit.' I'm ok with it though, just trying to raise my available credit.

Message 15 of 16
Moderator

Re: Navy Federal Cash Rewards -- CLI

Welcome back and congrats on finally getting approved for the CLI @coco427.

 

Locking this thread as you have been approved.  Feel free to start a new approval thread in the Approvals forum if you would like to do so.

Message 16 of 16
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