@AverageJoesCredit wrote:
@bustout wrote:A few weeks ago requested $500 increase to More Rewards Amex in order to cover my son who I added on as an authorized user. Approved.
Today woke up to an auto $3000 CLI on Platinum with about 77% usage.
Thinking of taking the $8,000 Platinum and paying it to $0 tomorrow and converting it to Flagship since I see no SUB's on the horizon to my benefit and I already have 3 NFCU credit cards.
Would it be too much at the same time to take the CashRewards card and shift that limit to the Flagship and just close it down or should I wait until after the Flagship conversion? Anyone have any experience merging and converting? I'm thinking I will keep my low interest rate with the Flagship and perhaps a year down the road add another card if there is a tempting SUB
You can try but data points are energing that Navy may no longer be moving credit limits. I think it was an option that started to get abused, basically like the scenario you describe. Everybody wants a cc from Navy but then it seems they dont want to keep it very long by either trying to pc or move limits, then close, then sub hunt another. Just seems it wouldnt last forever. And they did actually have an official policy not to move credit limits but were doing so on a case by case basis. Leave it to myFicoers to break a good thing lol
I'm afraid to share my results when I call. I guess it won't matter if I get it done.
@Anonymous wrote:What exactly is considered 3 full statements?
@Anonymous, They mean 3 full, 25-day billing cycles. If the first billing cycle is a short billing cycle, less than 25 days from CC approval to the first statement date, then the card holder will have to wait until the 2nd billing cycle begins (which is the first statement date) to start counting 3 full billing cycles for eligibility to apply for a new Navy Fed CC or a CLI on the current CC.
Today was 91 days after 2nd card approval with 1 partial and 2 full statements cut)
Applied just after midnight. Got approval email about an hour later!
Current TU9 = 650
I joined 11/30/2020
- Applied but denied for Cash Rewards (TU9 was low 600s)
- Approved for 22K auto refinance on 12/2 (paid off in April when I traded in my car)
- Approved for Secured nRewards an 12/2
- applied for platinum on 3/4 -- approved for 6900
- 3k / month going to Direct Deposit
- 1100 in CDs
- 500 CLOC
- 1000 Shared Certificate Loan
LOTS of new credit added this year.
31 percent aggregate utilization
AAOA = 6.1 years
Thick dirty file!
Hope the info helps others!
@USMC_Winger wrote:
@Anonymous wrote:What exactly is considered 3 full statements?
@Anonymous, They mean 3 full, 25-day billing cycles. If the first billing cycle is a short billing cycle, less than 25 days from CC approval to the first statement date, then the card holder will have to wait until the 2nd billing cycle begins (which is the first statement date) to start counting 3 full billing cycles for eligibility to apply for a new Navy Fed CC or a CLI on the current CC.
In my case, this wasn't true. Second card was approved after 15-day bill + 2 full bills in March, 2021
3rd card was approved after a 7-day bill and 2 full bills in June 2021.
the only thing I had to be sure of was 91 days from approval. Both approvals were spring, 2021.
@bustout wrote:
@AverageJoesCredit wrote:
@bustout wrote:A few weeks ago requested $500 increase to More Rewards Amex in order to cover my son who I added on as an authorized user. Approved.
Today woke up to an auto $3000 CLI on Platinum with about 77% usage.
Thinking of taking the $8,000 Platinum and paying it to $0 tomorrow and converting it to Flagship since I see no SUB's on the horizon to my benefit and I already have 3 NFCU credit cards.
Would it be too much at the same time to take the CashRewards card and shift that limit to the Flagship and just close it down or should I wait until after the Flagship conversion? Anyone have any experience merging and converting? I'm thinking I will keep my low interest rate with the Flagship and perhaps a year down the road add another card if there is a tempting SUB
You can try but data points are energing that Navy may no longer be moving credit limits. I think it was an option that started to get abused, basically like the scenario you describe. Everybody wants a cc from Navy but then it seems they dont want to keep it very long by either trying to pc or move limits, then close, then sub hunt another. Just seems it wouldnt last forever. And they did actually have an official policy not to move credit limits but were doing so on a case by case basis. Leave it to myFicoers to break a good thing lol
I'm afraid to share my results when I call. I guess it won't matter if I get it done.
If you get it done all the better for you
. It will matter because you achieved what you were looking for. Im sorry if i came off harsh or anything but it is true that Navy may be stopping that now, though i should have said im always one one to risk everything with Navy . I meant myFicoers, yes this includes me, in jest because we see a good thing and then stampede it til it either gets closed off or what have you. If you dont post your results just blame it on me, everyone else does lol. I think ill keep to myself in the future since its more important for posters to post without fear of posting thsn for me to offer any kind of advice. How bout that, im gonna bust out of here
. Thanks and sorry again.
@bustout wrote:
@AverageJoesCredit wrote:
@bustout wrote:A few weeks ago requested $500 increase to More Rewards Amex in order to cover my son who I added on as an authorized user. Approved.
Today woke up to an auto $3000 CLI on Platinum with about 77% usage.
Thinking of taking the $8,000 Platinum and paying it to $0 tomorrow and converting it to Flagship since I see no SUB's on the horizon to my benefit and I already have 3 NFCU credit cards.
Would it be too much at the same time to take the CashRewards card and shift that limit to the Flagship and just close it down or should I wait until after the Flagship conversion? Anyone have any experience merging and converting? I'm thinking I will keep my low interest rate with the Flagship and perhaps a year down the road add another card if there is a tempting SUB
You can try but data points are energing that Navy may no longer be moving credit limits. I think it was an option that started to get abused, basically like the scenario you describe. Everybody wants a cc from Navy but then it seems they dont want to keep it very long by either trying to pc or move limits, then close, then sub hunt another. Just seems it wouldnt last forever. And they did actually have an official policy not to move credit limits but were doing so on a case by case basis. Leave it to myFicoers to break a good thing lol
I'm afraid to share my results when I call. I guess it won't matter if I get it done.
Please do share. It helps everyone decide what routes to take.
@designated_knitter wrote:
@USMC_Winger wrote:
@Anonymous wrote:What exactly is considered 3 full statements?
@Anonymous, They mean 3 full, 25-day billing cycles. If the first billing cycle is a short billing cycle, less than 25 days from CC approval to the first statement date, then the card holder will have to wait until the 2nd billing cycle begins (which is the first statement date) to start counting 3 full billing cycles for eligibility to apply for a new Navy Fed CC or a CLI on the current CC.
In my case, this wasn't true. Second card was approved after 15-day bill + 2 full bills
3rd card was approved after a 7-day bill and 2 full bills.
the only thing I had to be sure of was 91 days from approval.
This is how it was initially, you just had to be 91 days. Then many people started receiving denials. It's now recommended to have 3 full statements. Same with waiting 95 days. It's technically 91, but for some reason denials are coming back with reason being too soon. Do now, it's recommended to also wait about 95 days.
@Anonymous
You should be very safe. My first card was nRewards in December of last year. My 2nd card was 92 days later on March 4 with only 2 full and 1 partial statement.
Good luck!