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@CreditInspired wrote:
@DJRobbieD wrote:Looking for some advice... last month I became a NFCU member and immediately applied for the Platinum card. Didn't get instant approval, but got approval email later that day. I got their best rate (8.24%), but a SL of only $10k, which was lower than I expected for a clean TU report (no lates, no derogs), a FICO8 of 720, and income of $330k. Here were my TU DPs at the time:
22 total accounts (10 open, 12 closed)
9.0 AAoA
35%ish Util
1 HP
I'm thinking the Util rate is what handcuffed me as I had a big BT promo balance that I hadn't paid off yet. I've since paid off that BT promo balance and opened 2 other cards with high SL, so my Util is down to 15%ish, though my AAoA is down to 7.0 years.
What path do you recommend I take for a CLI on my NFCU Platinum? Submit for one at the 91/3 mark, reduce my Util even further, and/or garden for a while to get my AAoA back up?
Congratulations on your $10K approval. I think you may be right that the UT may have hampered the SL although it still is pretty good. If it were me, I would wait for the 91-day/3 statement cut.
Also, a huge congratulations on snagging the Apple card.
Thank you @CreditInspired!
Follow-up question: If I submit for a CLI at the 91/3 mark, will it be a SP or HP from EQ? And how high would you recommend I go? I’ve seen $25k as a ‘magic number’ in this forum, but curious if I should shoot for the stars and the $50k max?
@Anonymous wrote:Is NFCU now pulling TU for CLI request?
Requested CLI on my Amex More Rewards and immediately got notification from CK of a hard inquiry from NFCU?
If so are they pulling TU8 or TU9?
Forgot to mention my CLI request is under review.
Credit Karma will alert for Equifax as well. Check the app and it should show the hard inquiry and which it was from of the two.
Follow-up question: If I submit for a CLI at the 91/3 mark, will it be a SP or HP from EQ? And how high would you recommend I go? I’ve seen $25k as a ‘magic number’ in this forum, but curious if I should shoot for the stars and the $50k max?
It will be a HP from EQ. You can ask for up to 3X your SL; anything past that will probably be countered with 3X...
Just ask for $25K if your income is over $25K. There is no sense asking for less because they will counter with the max they’ll offer you if it isn’t $25K and you can’t get another increase for 6 months.
While it’s uncommon to get more than 3X, it has been known to happen from time to time.
Correct, $25K is a safe ceiling before POI.