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Navy Federal Thread for CLI and Additional Cards

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Anonymous
Not applicable

Re: Navy Federal Thread for CLI and Additional Cards


@Anonymous wrote:

@Anonymous wrote:

@Anonymous wrote:
Yeah, I have all the cards I need to keep me happy for quite a while, but the Platinum is currently my only Visa card. My goal is to grow it to $25K as well. If I never get a CLI on the More Rewards I would be alright with it, as long as I can get my Platinum to a decent limit & a lower APR (the More Rewards has a lower APR than my Platinum!)...

Personally I would just send them an SM with the subject credit limit increase/decrease and ask them to move some of the limit from the new card to the old one. A $1K Platinum is totally unusable. Just keep in mind that any credit limit change sets that account for a 180 day clock before you can request a CLI if you go that route. 


I asked the rep if I could re-allocate some of my $25K SL to my Platinum, & the rep said no. I wasn't going to argue; I figure this could be a battle for another day...


The rep is misinformed. Never do these things with a rep. Send a secure message to the department that I said and they'll do it in a heartbeat. 

As for the APR, you can ask for a decrease every 12 months. 

Message 10531 of 17,187
CreditInspired
Community Leader
Super Contributor

Re: Navy Federal Thread for CLI and Additional Cards

Saeren is correct. Last year this is exactly how $5K was taken from cashRewards and allocated to Platinum. I sent a SM first to ask if it could be done. Got a yes response asking me exactly how I wanted it reallocated. I responded and it was done with a few hours. Voila. 

 

So yep, just aend a SM. Easy, peasy. 


|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macys $24.2K || NFCU CLOC $15K || NFCU Platinum $15K || CitiCostco $12.7K || Chase FU $12.7K || Apple Card $7K || BOA CashRewards $6K
Message 10532 of 17,187
Anonymous
Not applicable

Re: Navy Federal Thread for CLI and Additional Cards


@Anonymous wrote:

Just an added data point for NFCU.

 

Applied and received cashRewards card in June of 2018, 25K starting limit; CLOC granted at 15K at the same time.

 

Requested increase on July 2, 2019 for 50K.

 

Received 24 hour notice. About 4-5 hours later the available credit on the account was increased to 45K. No POI requested.

 

Pulled EQ. Only inquiry was from June 2018 for the NFCU CLOC. NFCU FICO 9 score, 850.

 

DTI is < 1%. Income ~169,000. NFCU member since 2001; direct deposit into NFCU checking. Multiple loans over the years, current car loan with ~10% value left (two years early payoff); scheduled completion in October.

 

On credit report at the time of applying were four other card accounts, the most recent a Chase Sapphire Reserve from October 2018 with 28K limit. The other three accounts are all ~10K limits. Freedom Unlimited app just before this increase request was approved for 24.1K. Two installment loans, one car loan from NFCU and a student loan.

 

I recevied an e-mail a day or so later stating that my limit had been increased to 45K, and if this was less than I requested I would receive a letter explaining why. I will update this when I receive the letter.

 

I just wanted to re-iterate an important point that many members have stated in this thread; don't be discouraged by small increases or lower initial limits. History with NFCU is important. While my numbers look great today, they gave me that car loan years ago when things weren't so good. Everyone has a history, and NFCU is more willing than most to work you. Keep that in mind and continue to build a positive relationship and you will be surprised what they are willing to do for you.

 

Edit: Forgot to add this - Oldest account ~23 years; Average Age ~10 years; Youngest account ~9 months.



I relaized I forgot to update this thread. I received the letter from NFCU which said I had reached my maximun unsecured exposure. I found it amusing that they drew the line at the last 5k of this request.

 

 

Message 10533 of 17,187
gjean78
Regular Contributor

Re: Navy Federal Thread for CLI and Additional Cards


@Anonymous wrote:

@Anonymous wrote:

Hi Everyone!

 

I am very new to the forum, this is actually my first time posting.

 

I have been a member of NFCU for almost two years now. I recently received an email containing an acceptance for the amex, I pulled the trigger today and applied - - I was approved for a SL of $500.00. I am wondering if I had applied for a different card if my SL may have been higher? If I were to apply for another card today, would I be approved for a card with a higher SL? Or should I wait it out and do the 91/3 for a CLI and a new card?

 

Just for some background : Discover IT - 1182/1200 Nordstrom - 450/1000 Overstock 0/250

 

Due to high utilization my scores have dropped to the high 500s ..

 

ANY ADVICE?? 


Hello ... again (lol) 

As you can see from my previous post, I was approved for the Amex More Rewards with a SL of $500 on July 10th. My utilization across the board was seriously killing me. 

 

As of today my Discover is down to $0/1200 (statement closes on the 27th, which is when it will reflect to the bureaus). 

More Rewards is down to $0/500 (will reflect on statement on the 24th) - previously reported a balance of $65.00 on first statement and a balance of $431.99 on the second statement, only because I didn't initially keep track of the statement closing date.

 

Nordstrom is $0/1000 - already reflected on statement. 

Overstock is $0/250 - already reflected 

PayPal credit is $0/250 - already reflected. 

 

Current FICO 8 - EQ 594 TU 613 EX 618

FICO 8 Bankcard - EQ 580 TU 610 EX 622

FICO 9 Bankcard - EQ 634 TU 631 EX 646

 

3 previous collections accounts which are paid off. 

Last late payments - 12 months ago (due to non-paid maternity leave from work)

 

Income: $60k

 

The credit simulator suggests that with my cards reporting a $0 balance on the statements, my scores are projected to jump to:

EQ 639 TU 638 EX 648

 

My 91/3 will soon be approaching on the More Rewards so my question is whether to go for a CLI and what my chances are for a higher SL if I decide to app for a second card?? Or if I should wait 6 months?

 

Any thoughts on this?



I think the best move is to apply for another CC; NFCU known for giving big limit on second card. from my personal experience 630ish credit score is more then enough to get a good sl from NFCU. I got 20000 limit on the crash rewards last June with a 634 credit score. 



Message 10534 of 17,187
Anonymous
Not applicable

Re: Navy Federal Thread for CLI and Additional Cards


@CreditInspired wrote:

Saeren is correct. Last year this is exactly how $5K was taken from cashRewards and allocated to Platinum. I sent a SM first to ask if it could be done. Got a yes response asking me exactly how I wanted it reallocated. I responded and it was done with a few hours. Voila. 

 

So yep, just aend a SM. Easy, peasy. 


I have done it before, but it does have to be a msg to another group. First one i did was with a rep who submitted it to them. This time, I just sent an SM to move some around, so we'll see how it goes. 

Message 10535 of 17,187
Anonymous
Not applicable

Re: Navy Federal Thread for CLI and Additional Cards


@Anonymous wrote:

I relaized I forgot to update this thread. I received the letter from NFCU which said I had reached my maximun unsecured exposure. I found it amusing that they drew the line at the last 5k of this request.

 

 


I have been getting that reason for over a year now, so i'm guessing i'm really at it for now.  They have given me so much more than i thought possible, so i'm grateful.  More history with them, maybe they will reconsider, but if not it's no big deal. 

Message 10536 of 17,187
Anonymous
Not applicable

Re: Navy Federal Thread for CLI and Additional Cards


@gjean78 wrote:

I think the best move is to apply for another CC; NFCU known for giving big limit on second card. from my personal experience 630ish credit score is more then enough to get a good sl from NFCU. I got 20000 limit on the crash rewards last June with a 634 credit score. 

@Anonymous  I would agree with @gjean78  that with a dirty profile and decent history built up that a new card SL is usually better than a CLI. I always did better that way myself, but also 6 months of history with a dirty profile will go a very long way. @gjean78 Congrats on your 20k with a 634. Killer SL.  That being said, since each profile is different, Just a score of 634 is not a good indicator on what will/won't be approved. Navy bases them on DTI & history with them more than just a score.   As always, YMMV.    

 

Hope to continue hearing of all the great success the Navy family has Smiley Happy

Message 10537 of 17,187
AverageJoesCredit
Legendary Contributor

Re: Navy Federal Thread for CLI and Additional Cards

Ive definetly hit my max with 17.3k max exposure. No more wasting hps for me lol. Im happy though with what ive achieved with Navy on my income. Thankfully Miss Disco doesnt mind outdoing Mrs Navy in overall exposure, 20.5K Smiley Happy.
Message 10538 of 17,187
tbque
Valued Contributor

Re: Navy Federal Thread for CLI and Additional Cards

Today is my 91/3 as my last App was on 6/22/19 and my 3rd statement cut earlier this week. Question should I pull the trigger today on another card or wait until tomorrow or Monday? Thinking the Flagship or Platinum any opinions on which one?





Message 10539 of 17,187
tbque
Valued Contributor

Advice on pulling trigger on NFCU 91/3 new Application.

Today is my 91/3 as my last App was on 6/22/19 and my 3rd statement cut earlier this week. Question should I pull the trigger today on another card or wait until tomorrow or Monday? Thinking the Flagship or Platinum any opinions on which one?





Message 10540 of 17,187
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