@SFLSpotter9210 wrote:Hey don't sweat it too much it happens. I appd for a CLI as well on my starter card my go rewards and got denied for reaching max exposure at this moment. But if you look at my other accounts their huge so I didn't understand why. But to be honest NFCU is the absolute best CU in my humble opinion. Be patient and it will pay off in time. Maybe if you give everyone a better understanding of your profile they may help you out better. Good luck with your journey going forward 👍.
Thank you so much for the encouragement and kind words! I agree with you Navy Federal is the best CU! I will be patient. I know in time I'll get another card and will look back at this moment and laugh.
I don't think I would've applied so soon if I hadn't ever heard of the 91/3 rule. Everyday it seems someone had been talking about it on places I frequent online. Usually when a new bank gives me a CC I wait a year or more before trying to get another product from them. I guess I got too excited and was too eager to get my 3 NFCU CC's out the way! Lesson learned!😄
@Gmood1 wrote:Give it more time, you'll get the 2nd card.
I'd say atleast six months to a year.
Maybe once this Covid calms down. Things will open up for you.
Navy isn't known for being adverse to new accounts. Not from what I've seen or experienced over several years.
If you apply for credit enough, at some point you will be denied.
It happens!
Keep building on your current card with them.
Oh, and stop paying before the statement cuts! lol
If you want to build credit history.
You need to show credit history!
Its not possible to do that with most lenders if you don't allow your bills to report.
How will another lender know your payment patterns, if they can't see them? Just something to think about.
Congratulations on the CLI!😃
Thank you for all the encouragement and advice! I appreciate it! I'm curious when you mentioned to stop paying before the statement cuts if there is a recommendation you had in mind to leave? Do you leave a certain percentage on your cards to report? I usually use my cards like a debit card and pay it down to $0 every few days. Not sure if you mean to leave hundreds of dollars on there or just a small amount? Any clarification would be appreciated. Thanks again!
@SFLSpotter9210 wrote:I will add one more data point that worked for me. And that is that I applied for another card before I appd for the CLI. Just a fyi for ya going forward. Again good luck with your journey.
Thank you so much for this tip! I will definitely do this going forward! I appreciate the tip and the well wishes!
@Anonymous wrote:
@Jordan23ww wrote:
@Gmood1 wrote:Give it more time, you'll get the 2nd card.
I'd say atleast six months to a year.
Maybe once this Covid calms down. Things will open up for you.
Navy isn't known for being adverse to new accounts. Not from what I've seen or experienced over several years.
If you apply for credit enough, at some point you will be denied.
It happens!
Keep building on your current card with them.
Oh, and stop paying before the statement cuts! lol
If you want to build credit history.
You need to show credit history!
Its not possible to do that with most lenders if you don't allow your bills to report.
How will another lender know your payment patterns, if they can't see them? Just something to think about.
Congratulations on the CLI!😃
Thank you for all the encouragement and advice! I appreciate it! I'm curious when you mentioned to stop paying before the statement cuts if there is a recommendation you had in mind to leave? Do you leave a certain percentage on your cards to report? I usually use my cards like a debit card and pay it down to $0 every few days. Not sure if you mean to leave hundreds of dollars on there or just a small amount? Any clarification would be appreciated. Thanks again!
Anecdotal evidence has shown that 1% balance reporting on the statement is optimal for credit score increase, people also practice "all zero except one" (aka AZEO) in order to maximize their credit scores. Your mileage may vary.
Ok, thank you for clarifying that for me! I can give that a try for sure! Also I forgot to say thank you earlier for the congrats on my limit increase! Thank you for that and all the tips!
@Jordan23ww wrote:
@Gmood1 wrote:Give it more time, you'll get the 2nd card.
I'd say atleast six months to a year.
Maybe once this Covid calms down. Things will open up for you.
Navy isn't known for being adverse to new accounts. Not from what I've seen or experienced over several years.
If you apply for credit enough, at some point you will be denied.
It happens!
Keep building on your current card with them.
Oh, and stop paying before the statement cuts! lol
If you want to build credit history.
You need to show credit history!
Its not possible to do that with most lenders if you don't allow your bills to report.
How will another lender know your payment patterns, if they can't see them? Just something to think about.
Congratulations on the CLI!😃
Thank you for all the encouragement and advice! I appreciate it! I'm curious when you mentioned to stop paying before the statement cuts if there is a recommendation you had in mind to leave? Do you leave a certain percentage on your cards to report? I usually use my cards like a debit card and pay it down to $0 every few days. Not sure if you mean to leave hundreds of dollars on there or just a small amount? Any clarification would be appreciated. Thanks again!
What I mean by allowing your balances to report, is exactly that. If you have the discipline to pay your balances every couple of days. You probably have the same discipline to pay them once a month.
Now if you don't trust yourself to use these credit cards as credit cards. Then do what you must to stay out of debt.
I see folks all the time assume they're building credit history by paying balances before they report.
Unless your balances are above 29% before the statement cuts. Let it ride and report. Now if you just can't help yourself in paying closer to due dates. Go in and pay the statement after it has cut. That will insure your balances are recorded at the CBs.
Credit is more than scores. It's the history at how you handle your finances and the credit that's given you by these Fi's.
The ONLY way for other FI's to see your spend and issue appropriate CLs, is to allow balances to report as naturally as possible.
IMHO and experience it is. I purposely used them for several BTs over the last few years. And paid those balances off over 12 to 24 month periods. I wanted to show them, I was a good borrower and on time payer.
Me and NFCU had a rough start back in 2015. They locked my first credit card and bank accounts, when I joined.
After using the card and then cards, paying them on time and allowing their system to record my payments.
I haven't had any issues with them since. I don't remember the last internal score they sent me. But it was only 15 or so points from the highest they give.