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

Brian_Earl_Spilner
Community Leader
Mega Contributor

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

 

Welcome aboard the new and improved (shorter) Navy Federal thread!

 

 

The goal of the refresh 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, immediate including up to grandparents/children

- Select Employee Groups (SEGs) such as NASSCO and BAE Systems. They do not list them so would need to contact membership services

- Roommate of a member. Must make a significant contribution to the household and have proof

 

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 $25K (without POI), $50K maximum. Flagship is the exception with a minimum required SL of $5K and a maximum credit line of $80K

- 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

- Limits can be moved and cards can be product changed across all (recent data points show they are now requiring both cards to be a year old -- policies are still very fluid on merging accounts or combining limits)

- 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

- 181 days between CLIs if approved

- 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.

 

- Credit cards are limited to ~$1,000 credit limits for the first 2 years after bankruptcy discharge.

 

I will continue to update as I find time. Please PM or @ tag me to make corrections or additions. 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 ratio, AAoA, current NFCU relationship, etc.




652 REPLIES 652
Brian_Earl_Spilner
Community Leader
Mega Contributor

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

RESERVED




Message 2 of 653
Brian_Earl_Spilner
Community Leader
Mega Contributor

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

RESERVED




Message 3 of 653
Brian_Earl_Spilner
Community Leader
Mega Contributor

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

RESERVED




Message 4 of 653
pizza1
Community Leader
Super Contributor

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

Thanks for starting the new Navy thread!


My rebuild worked for me, but won't necessarily work for you!
BK7 D/C- 08/2013
Message 5 of 653
Falcon9
Established Member

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

Preface update:  Thanks for your kind thoughts but I do not need Congrats on the CLI. I am just documenting that it still appears to be the $4000 amount.  Plus it only took one business day.   My next one I will wait until Monday morning to submit it.

 

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 on 7 June 2021. 

 

I just chatted with NFCU and was told that at least on my  More Rewards card, they report the information to credit agencies on the card statement date.  The reason I care is that on my NFCU FICO score summary they mention two many credit cards with balances.  I have three of four cards with balances so I may be able to ensure that the More Rewards card is zero by paying enough to get my balance to zero a day or two before the statement closes and see if that makes a difference.

Message 6 of 653
Brian_Earl_Spilner
Community Leader
Mega Contributor

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


@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




Message 7 of 653
SPChaser
Established Contributor

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


@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.


Congrats on getting that 4K!!! 🥳

“Play the game, but don't believe in it“
Message 8 of 653
M_Smart007
Epic Contributor

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


@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.


Congratulations on your Platinum CLI !

Message 9 of 653
Remedios
Moderator

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

Please, save "congratulations" for the actual approval threads, or this one will become "too long to read" in no time. 

 

Asking for additional DPs and having conversations while congratulating someone is perfectly fine, but "congrats only" posts belong in approvals. 

 

 

Message 10 of 653
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