Navy Federal Thread for CLI and Additional Cards

[Anonymous]

@coneyj123

I'm in the same boat...

Anyone has guidance on this ???

[Anonymous]

@morgacj2004    A second card would only be a credit score tool.  My 20's and 30' are over, but  even then, my credit downfall was a litteral fall and a broken back. 

Anyone with any thoughts as to my and MILOfico's inquiry as to if, when and which NFCU card to try to get next? 

[morgacj2004]

I I would suggest the travel rewards. $200 bonus after 3k spend in 90 days. That is the card my wife is going for . No AF so nothing to lose if u don't make the spend. 

[peghede]

109 days since i got the first card instant 23k today got second card  7k instant.(hard pull tu)

[Anonymous]

@peghede  23k to start?  Very nice and nice job with the 2nd card.

Sucks that they wouldn't CLI you, but you're already pretty high.  

Both cards are CashRewards? 

Just went back and read your exchange with creditaddict   http://ficoforums.myfico.com/t5/Credit-Card-Applications/Official-NFCU-CLI-Guide/td-p/2101185/page/5...   Like to hear what some others think, especially with my data points, but I'll probably still follow the original plan and wait a few months before any more apps. 

[Anonymous]

My internet connection has been buggy this morning, I hope this post doesn't show up twice. 

@peghede  A SL of 23k is tremendous, nice job on the second card. Both cards cash rewards? 

I read your exchange with Creditaddict http://ficoforums.myfico.com/t5/Credit-Card-Applications/Official-NFCU-CLI-Guide/td-p/2101185/page/5...

I was thinking of sticking with the original plan and waiting on further apps for awhile, unless others have a different opinion based upon my data points. 

[Anonymous]

CA, is there a benefit (beyond just the SP possibility) to waiting until an AR has occurred to request CLI, vs. just requesting it when your card hits 3 1/2 months, for example?

In other words, CA, is the reason to wait for AR mostly just the SP possibility, or does one have a greater chance of CLI because NFCU has just done an AR review, vs. any of us asking between reviews? Thanks.

[Creditaddict]

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@Anonymous wrote:

CA, is there a benefit (beyond just the SP possibility) to waiting until an AR has occurred to request CLI, vs. just requesting it when your card hits 3 1/2 months, for example?

In other words, CA, is the reason to wait for AR mostly just the SP possibility, or does one have a greater chance of CLI because NFCU has just done an AR review, vs. any of us asking between reviews? Thanks.

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Yes, The SP.

[Creditaddict]

Navy has gone through so many little changes over the last year or so that it seems time to do a little update.  With no ability to move or consolidate credit lines anymore the question of when do you go for a second credit card is coming up a lot and is way different than it was when I received my second card and then my third Navy Credit Card.

Navy Members with less than stellar credit:

I will use my friend's example because I think most will find it to be true for them in the same range.

1. He joined Navy and instantly applied for Cash Rewards and CLOC.  Cash Rewards went pending and approved for $2900 next day.  CLOC Denied and tried applying again for just $500 and still denied.  Scores were in the 560-580 range.

2. 1.5-2 months after receiving the Cash Rewards Credit Card his TU was up to 610-620, He applied for Platinum MC and was instantly approved for $6100.

3. He applied for CLI again on Cash Rewards which went to review and was denied again.

So as you can see if you are in the lower tiers of the credit score and just get in with Navy for $1600, $2200, $2900 (seem to be the common first approvals with sub 600 scores) and you see your score jump up 20-40 points, I would suggest that is when you apply for a second Navy Card.

Navy Members with stellar Credit (or at least with first credit card approvals over $15k):

I think for you all, instead of waiting for AR to do a CLI (especially if your initial approval was higher than $20k) I would just apply for a 2nd card at month 3.

The good thing to note as of the writing of this is Navy seems to have also been more consistent on what credit they pull:

Membership - Hard Pull EQ

CLOC - Hard Pull EQ

Personal Loan - Hard Pull EQ

Credit Card Application - Hard Pull TU

Credit Card CLI - Hard Pull EQ

Auto - ? I believe EQ again.

[Anonymous]

I'm glad to see you're starting a new thread for NFCU! I wanted to throw in that there have been a lot of TU pulls for membership too. I'm in the SF area of California and they pulled TU for me also.