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

CDH
Established Member

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

If I am posting this in the wrong place please move and my apologies in advance. I keep seeing everyone mention "3 full statements"... What exactly is considered 3 full statements? My first statement was 30 days but my second statement was 31 days. Should each statement be 31 days to be considered a full statement? If so I would have to wait on my 4th statement to apply for my second card. Correct me if I am wrong. 

Message 51 of 657
bustout
New Contributor

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


@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 lolSmiley Wink


I'm afraid to share my results when I call. I guess it won't matter if I get it done.



Message 52 of 657
USMC_Winger
Regular Contributor

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


@CDH wrote:

What exactly is considered 3 full statements?


@CDH, 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.

FICOs:





Message 53 of 657
designated_knitter
Established Contributor

More Rewards Approved for 15k SL @ 16.9 percent

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!

Started Over Again after Cap1 Death Penalty:
06/15/2019:
03/02/2021:
04/06/2021:
05/28/2021:
Lesson Learned: DON'T POKE THE BEAR!!! THE BEAR WILL WIN!!!
Message 54 of 657
designated_knitter
Established Contributor

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


@USMC_Winger wrote:

@CDH wrote:

What exactly is considered 3 full statements?


@CDH, 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.

Started Over Again after Cap1 Death Penalty:
06/15/2019:
03/02/2021:
04/06/2021:
05/28/2021:
Lesson Learned: DON'T POKE THE BEAR!!! THE BEAR WILL WIN!!!
Message 55 of 657
AverageJoesCredit
Mega Contributor

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


@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 lolSmiley Wink


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 youSmiley Happy. 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 hereSmiley Wink. Thanks and sorry again. 

Message 56 of 657
CerebralZulu
Frequent Contributor

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


@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 lolSmiley Wink


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.


Message 57 of 657
Brian_Earl_Spilner
Community Leader
Mega Contributor

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


@designated_knitter wrote:

@USMC_Winger wrote:

@CDH wrote:

What exactly is considered 3 full statements?


@CDH, 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.




Message 58 of 657
Crshtheshrts
Valued Member

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


@Brian_Earl_Spilner wrote:

@designated_knitter wrote:

@USMC_Winger wrote:

@CDH wrote:

What exactly is considered 3 full statements?


@CDH, 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.


So by June 11th the day my 3rd statement posts it will be 98 days.  My Nrewards was opened March 4th. 

 

That should be plenty to not get an outright denial? 

Message 59 of 657
designated_knitter
Established Contributor

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

@Crshtheshrts

 

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!

Started Over Again after Cap1 Death Penalty:
06/15/2019:
03/02/2021:
04/06/2021:
05/28/2021:
Lesson Learned: DON'T POKE THE BEAR!!! THE BEAR WILL WIN!!!
Message 60 of 657
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