Navy Federal Datapoints Thread for Membership, CLIs, and Credit Card Products

[Anonymous]

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@Anonymous wrote:

Hey guys

Does anyone know if the $80K Credit Limit on Credit Cards include the CL on the CLOC as well? Or is the CLOC entirely separate from the $80k? Thank you in advance

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Separate. 80 + 15 is what I, and many others, have.

Btw, I recently moved a large chunk of credit line from Card #1 to Card #3 to take advantage of a BT offer on Card #3. I called in with the request. Took about 3 days for approval.

[FinStar]

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@Anonymous wrote:

Hey guys

Does anyone know if the $80K Credit Limit on Credit Cards include the CL on the CLOC as well? Or is the CLOC entirely separate from the $80k? Thank you in advance

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AFAIK, CLOC is separate, but still evaluated in your overall exposure with NFCU. I have $80K in combined CCs with NFCU and the max of $15K with their CLOC/NavCheck.

[Space_Daddy]

@OmarGB9 in 6 months when I request another CLI, am I still limited to the 8K increase you speak of? Or does that only apply to the first CLI?

[FinStar]

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@Space_Daddy wrote:

@OmarGB9 in 6 months when I request another CLI, am I still limited to the 8K increase you speak of? Or does that only apply to the first CLI?

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@Space_Daddy It applies anytime an increase is requested, regardless. You can submit for a higher amount than $8K, but NFCU's current UW policy is only approving the max of $8K, unless they reverse their internal policy (such as during 2020) when the max CLI amount approved was $4K.

[OmarGB9]

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@Space_Daddy wrote:

@OmarGB9 in 6 months when I request another CLI, am I still limited to the 8K increase you speak of? Or does that only apply to the first CLI?

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Unless they change it, it'll keep being the max you can be approved for, regardless of how much you request.

[Falcon9]

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@Space_Daddy wrote:

@OmarGB9 in 6 months when I request another CLI, am I still limited to the 8K increase you speak of? Or does that only apply to the first CLI?

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If you request the CLI online (recommended method), in the block where you type in the CLI amount, be sure to make that your current credit limit value PLUS whatever you ask for.

Example:  Current credit limit is $10,000.   You request an $8,000 increase.    The number you type in would be $10,000 plus $8,000 or $18,000.

I disavow any knowledge of personally doing it the wrong way.

[OmarGB9]

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@Falcon9 wrote:

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@Space_Daddy wrote:

@OmarGB9 in 6 months when I request another CLI, am I still limited to the 8K increase you speak of? Or does that only apply to the first CLI?

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If you request the CLI online (recommended method), in the block where you type in the CLI amount, be sure to make that your current credit limit value PLUS whatever you ask for.

Example:  Current credit limit is $10,000.   You request an $8,000 increase.    The number you type in would be $10,000 plus $8,000 or $18,000.

I disavow any knowledge of personally doing it the wrong way.

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You certainly wouldn't be the first.

[RobynJ]

Good morning FICO Family;

I just wanted to add some data points. I know I have read in here that CLI are SP but I have data putting that into question now. I applied and was approved for a secured card since I don't have a score yet and I did it the same day I opened my account. When I opened it over the phone they would only allow me to transfer $250 the first day so I could only secure $200 for the card. I asked then if I could increase and she assured me I could. The following day I sent a message about doing just that. Read below for a shock:I hope this helps everyone!!!

[SUPERSQUID]

Its pretty easy to set up external transfers from your local bank to a navy checking account, i transfer funds to my checking all the time. i also pay my cash rewards card via external transfer but perhaps they have different rules for a secured card. to set up external transfers go to your local banks website and look for a transfers tab, the rest is self explanatory

[Rottweilerlvr]

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@RobynJ wrote:

Good morning FICO Family;

I just wanted to add some data points. I know I have read in here that CLI are SP but I have data putting that into question now. I applied and was approved for a secured card since I don't have a score yet and I did it the same day I opened my account. When I opened it over the phone they would only allow me to transfer $250 the first day so I could only secure $200 for the card. I asked then if I could increase and she assured me I could. The following day I sent a message about doing just that. Read below for a shock:I hope this helps everyone!!!

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Unfortunately, this is accurate. You want to have that initial credit limit/deposit to be in savings before applying for the secure card. I had mine at $800 and that was doable. It graduated in 6 months to $2000. Just use and pay off multiple times throughout the month for the next six months. I have seen reports where Navy has done a small increase before the six months while still keeping your deposit. My secure card in a year and half is now at a $10000 cash rewards card. It's still my favorite card.