Welcome aboard the new and improved (shorter) Navy Federal thread!
The goal of the refreshed topic is to make data easier to find by trying to keep the important stuff on the first page. I will try to keep the page as up-to-date as possible. If I'm unable to do so, the leadership team has my permission to edit the posts as needed. Without further ado, anchors aweigh!
MEMBERSHIP REQUIREMENTS
- Active duty
- Veterans with an honorable discharge
- Government Contractors and DoD employees
- Immediate family of eligible members, including up to grandparents/children
- Select Employee Groups (SEGs) such as NASSCO and BAE Systems. They do not list them so please contact membership services
- Roommate of a member. Must make a significant contribution to the household and have proof of financial responsibility
CREDIT PULLS
- Currently using TU9 for everything except CLI requests, but have been known to pull EQ9
- CLI requests use EQ9
- Membership is currently a soft pull, but a hard pull is still possible
- For the best chance of not incurring a HP, avoid calling (if possible) as that will almost guarantee a HP with a CLI request
- If declined on an application, they can possibly reuse the HP within 30 days IF the computer can match your new application with the previous application
CREDIT CARDS
- Pulls TU9
- 3 credit cards maximum, can have a duplicate card
- Maximum initial credit line is typically ~$25K (without POI), although higher starting lines are possible depending on overall profile ($50K maximum). Flagship is the exception with a minimum SL of $5K (although recent DPs have been reported where approvals can occur with SLs <$5K) -- maximum credit line $80K. Recent data points have shown maximum starting credit line for Flagship, at least ~$30k.
- New cards can be applied for at least 91 days/3 full statements after the last one
- DTI appears to be the most important factor
- Credit limits can no longer be reallocated or combined (August 2021). Revised data points have confirmed where credit limit reallocations may be possible if a balance transfer is processed, but results will vary as requests are handled on a case-by-case basis. The stipulation being, the donor card must be open for at least 12 months to process the request (April 2022).
- Cards can be changed to other products
- Pre-qualification portal is not 100% reliable nor guaranteed. The 'late nite hack' has been disproven as well.
- First CLI can be requested after 3 full statements and 91 days have passed. Due to recent delays in processing, it is now recommended to wait at least 95 days or longer for best results
- 181-190 days between CLIs if approved
- Automatic credit limit requests feature can be disabled - call or send a SM to be opted out of such automatic feature
- CLIs use EQ9
- If eligible for a new card and a CLI at the same time, apply for the card first; as a CLI first could possibly lower the starting limit of your new card
- Anything related or specific to NFCU's membership, SSLs, Personal Loans, CLOCs, please post in the Personal Finance section of the forums.
- Credit cards are limited to ~$1,000 credit limits for the first 2 years after bankruptcy discharge. Recent data points have confirmed this is not the case.
I will continue to update as I find time. Please PM me to make any corrections or additions. It's beenn brought to my attention that I've missed some tags so this would be the best way. General conversations are welcome, but let's keep "congratulations" comments for the actual approval threads so this topic doesn't get out of hand too quickly. Data points are welcome, you know the usual suspects: scores (FICOs or NFCU's internal score), income, utilization, debt-to-income (DTI) ratio, AAoA, current NFCU products/relationship, etc.
@Falcon9 wrote:Saturday (22 May 2021) I submitted a CLI for my Platinum card. Asked for $7000.
$4000 approved this morning (25 May 2021).
I made the mistake of putting the INCREASE in the desired new credit limit block instead of the new total limit. Fortunately their software caught my mistake and I corrected it before submitting the CLI request.
I will do a CLI request on my More Rewards card later this week.
Thanks for reminding me about the pandemic special
