@newmomnewme wrote:1. Can anyone confirm if all CLI requests are SP? I haven't asked for a CLI in over 9 months, but my UTIL is high and was hoping for a small CLI to help me out a bit.
2. Does it matter if I request the CLI via mobile app or website or are they both SP? I guess it doesn't matter since my reports are all frozen. lol
With reports frozen, swing away
. If they want a hp they will contact you. I never let my debt stop me from throwing a dart at the Navy dartboard. Never know when you hit a 🎯
Greetings everyone!
This morning I applied on line for the NFCU More Rewards Amex. Instant approval: SL $25,000 @ 12.99%.
This is my highest CL ever. My next highest current limit is $8,200. I was expecting an SL in that neighborhood, to be honest. I am in shock, and delighted, that I got that big of an SL on my first NFCU credit card.
I have seen DPs about NFCU having a "second card" boost as far as credit cards SLs go. I was curious to see if perhaps the boost is more about second credit product (payment history/relationship establishment) than purely second card. I can’t say for sure, but at least we have some more data for that line of inquiry.
Here are my DPs:
- Joined NFCU in November ‘21.
- Opened an Auto Loan on December 1st, ‘21
- First Statement on the loan was 12/12/21 showing first payment made 12/9/21 (and covering a time period prior to the loan actually being applied for due to the first payment being made so early).
- 4 statements have been issued
- 101 days since auto loan opened
- 9% of auto loan is paid (paying an extra 33%/mo (edit for clarity: 1.33 x monthly amount due))
- I have a monthly ACH scheduled from my primary bank to my NFCU checking account and a scheduled monthly transfer from my NFCU checking to my NFCU auto loan. My current balances in NFCU accounts are about 2.5 times my monthly auto payment amount due. I move a little more money into the NFCU accounts than the amount I am paying toward the loan each month. I have not taken any money out of the NFCU accounts nor used them for any payments otherwise.
- TU 9 735 (I assume it was TU 9 pulled)
- Alerted immediately by TU TrueIdentity of the inquiry
- BK7 5/’16
- 1 account IIB (Amex) still on my credit reports, no other baddies
- Stated income $90,000
@AverageJoesCredit wrote:
@Adkins wrote:I got my usual "You have reached your maximum unsecured limit" letter in the mail yesterday. Sigh. I may just have to bite the bullet and apply for another card with NFCU instead. (Not right now though!) 🙄
Sorry Addie, I'm at max right now. Maybe for good which is OK by me but won't stop me from trying
. 57k on low income, yeah Navy done did me right
💜
@Have1 wrote:Greetings everyone!
This morning I applied on line for the NFCU More Rewards Amex. Instant approval: SL $25,000 @ 12.99%.
This is my highest CL ever. My next highest current limit is $8,200. I was expecting an SL in that neighborhood, to be honest. I am in shock, and delighted, that I got that big of an SL on my first NFCU credit card.
I have seen DPs about NFCU having a "second card" boost as far as credit cards SLs go. I was curious to see if perhaps the boost is more about second credit product (payment history/relationship establishment) than purely second card. I can’t say for sure, but at least we have some more data for that line of inquiry.
Here are my DPs:
- Joined NFCU in November ‘21.
- Opened an Auto Loan on December 1st, ‘21
- First Statement on the loan was 12/12/21 showing first payment made 12/9/21 (and covering a time period prior to the loan actually being applied for due to the first payment being made so early).
- 4 statements have been issued
- 101 days since auto loan opened
- 9% of auto loan is paid (paying an extra 33%/mo (edit for clarity: 1.33 x monthly amount due))
- I have a monthly ACH scheduled from my primary bank to my NFCU checking account and a scheduled monthly transfer from my NFCU checking to my NFCU auto loan. My current balances in NFCU accounts are about 2.5 times my monthly auto payment amount due. I move a little more money into the NFCU accounts than the amount I am paying toward the loan each month. I have not taken any money out of the NFCU accounts nor used them for any payments otherwise.
- TU 9 735 (I assume it was TU 9 pulled)
- Alerted immediately by TU TrueIdentity of the inquiry
- BK7 5/’16
- 1 account IIB (Amex) still on my credit reports, no other baddies
- Stated income $90,000
Congrats on a very nice first card approval with NFCU, @Have1!
Your data points are valuable and interesting. For reference, even though the typical pattern is more for a lower first-card limit and then a much higher second card, there have been cases where those are reversed. In other words, Navy gives most of what they are willing to extend up-front instead of holding back; then there isn't as much credit to extend later on. We've also had members with strong overall profiles, high FICO, high income, no baddies, and little or no recent credit get multiple high SL approvals.
One thing I'll note about your data points is that Navy is very much relationship-oriented and even calculates an "internal score" (see link for more commentary) which goes into their approval process. While we don't know for sure what elements it involves or the weighting, my guess is that having NFCU membership for several months before applying, having active deposit accounts, having a monthly Direct Deposit, and having a paid-as-agreed auto loan on file all probably helped you to gain a higher-than-average initial approval.
Based on your current signature, it appears that you are 1/6, 1/12 and 2/24 for new accounts which is fairly constrained and probably also helped your approval odds. (Chase Amazon Visa 09/21; WF Active Cash 12/20.) From my experience, although they may not be as strict as some lenders, Navy doesn't like a lot of new accounts.
For comparison purposes, my experience with Navy has been quite different from yours, even with no baddies, FICO over 800, higher income, and other existing high limit cards. I opened membership with Navy in 11/2019 and applied for a card the same day. (First possible reason for lower limit: limited relationship.) I also misjudged Navy's generosity and had been applying for many other new cards before I applied with them. I applied for the Platinum Visa in 11/2019 with 5/6; 7/12; and 8/24 new personal credit accounts. I was approved but with a lower SL than I had with other recent cards: $10K. Eight months later, I applied for the More Rewards card during the height of the pandemic in 07/2020 with 2/6; 8/12; and 10/24 new personal accounts. I got a wake-up call when that one was denied. 
(See my denial post data points >HERE<.) They did tighten lending during the pandemic, but I still think I exceeded their comfort zone with those new accounts. Ironically, my "internal score" and FICO were both reported very high in my denial letter, which just goes to show you that FICO, income, and profile may only go so far in approvals for new credit. I started gardening a month later (partly due to that denial) and haven't gone back for a new card, but they've continued to give me the normal maximum increases every six months on my Platinum Visa; it currently sits at a $34.5K CL.
My theory is that Navy may have a heavier weighting of existing total credit available relative to debt or debt-to-income than some other lenders. (This is often typical of credit unions. And even though Navy is by-far the largest US credit union, I think we need to remember that in some ways, they do lend more like a credit union than a large national bank.) Your TCL before the Navy approval was $34.2K relative to a $90K income, which is a very conservative number; they obviously felt comfortable with a generous approval. (Your TCL after the approval still only puts you at 66% of income instead of multiples of annual income that some of us have reported.) So I think your income, debt-to-income, and existing credit limits may have also helped your higher approval.
In your case, as long as you don't apply for a lot of new credit elsewhere, I think you've got a pretty good chance of a second decent approval. Keep in mind that a $25K approval with Navy is a very good approval, and you may not match or exceed that since you got it on card one. While we've had members report such a high approval on card one and then get less than $5K on card two, I would imagine you could get something between ~$5K and ~$25K barring major changes to your report or profile. JMHO.
I'm past 91/3 so I applied for a CLI and requested $20,000 (my card had a SL of $3,500). I got this message, what does it mean?
"The normal processing time for credit card applications is 24 hours unless additional information is needed."
Thanks for the quick response! Good to hear it's normal, their response almost made it seem like I had applied for a new CC.
I will update when I get a response.
@Have1 wrote:Greetings everyone!
This morning I applied on line for the NFCU More Rewards Amex. Instant approval: SL $25,000 @ 12.99%.
This is my highest CL ever. My next highest current limit is $8,200. I was expecting an SL in that neighborhood, to be honest. I am in shock, and delighted, that I got that big of an SL on my first NFCU credit card.
I have seen DPs about NFCU having a "second card" boost as far as credit cards SLs go. I was curious to see if perhaps the boost is more about second credit product (payment history/relationship establishment) than purely second card. I can’t say for sure, but at least we have some more data for that line of inquiry.
Here are my DPs:
- Joined NFCU in November ‘21.
- Opened an Auto Loan on December 1st, ‘21
- First Statement on the loan was 12/12/21 showing first payment made 12/9/21 (and covering a time period prior to the loan actually being applied for due to the first payment being made so early).
- 4 statements have been issued
- 101 days since auto loan opened
- 9% of auto loan is paid (paying an extra 33%/mo (edit for clarity: 1.33 x monthly amount due))
- I have a monthly ACH scheduled from my primary bank to my NFCU checking account and a scheduled monthly transfer from my NFCU checking to my NFCU auto loan. My current balances in NFCU accounts are about 2.5 times my monthly auto payment amount due. I move a little more money into the NFCU accounts than the amount I am paying toward the loan each month. I have not taken any money out of the NFCU accounts nor used them for any payments otherwise.
- TU 9 735 (I assume it was TU 9 pulled)
- Alerted immediately by TU TrueIdentity of the inquiry
- BK7 5/’16
- 1 account IIB (Amex) still on my credit reports, no other baddies
- Stated income $90,000
@Have1 Congratulations on your approval and amazing starting limit! Thank you for all the data points you shared!
