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Navy Federal Thread for CLI and Additional Cards

M_Smart007
Epic Contributor

Re: Navy Federal Thread for CLI and Additional Cards


@mchang124 wrote:

Question for you guys: 

 

my secured card just graduated to a cash rewards last month. Do I have to wait for the 91/3 from day of graduation to request a CLI? Or would I be able to do it now?


Grats on your Graduation fiesta.gif

Message 11951 of 17,187
JTS0528
Established Member

Re: Navy Federal Thread for CLI and Additional Cards

Greetings 

 

To keep it simple can you get denied for Credit Cards and Credit Limit increases if you have a closed checking account with a balance with NFCU?

 

I know its two different services with NFCU but when I apply for a new card and Credit Limit increases they say "reaches maximum allowed unsecured Credit " or something like that .

 

I know my scores always play apart just wondering do they take into consideration the closed account with a balance even if it's with one of their checking accounts.

Message 11952 of 17,187
addicted_to_credit
Established Contributor

Re: Navy Federal Thread for CLI and Additional Cards

 

Established Member
Re: Navy Federal Thread for CLI and Additional Cards

Greetings 

 

To keep it simple can you get denied for Credit Cards and Credit Limit increases if you have a closed checking account with a balance with NFCU?

 

I know its two different services with NFCU but when I apply for a new card and Credit Limit increases they say "reaches maximum allowed unsecured Credit " or something like that .

 

I know my scores always play apart just wondering do they take into consideration the closed account with a balance even if it's with one of their checking accounts.

 

  When you say balance do you mean negative or positive balance? The  "reached maximum allowed unsecured Credit " means that's all Navy is comfortable with extending you at the moment. Positive history helps ease growing pains. Also if you have a card with a 10k limit and charge 100 a month, it could be their opinion that you don't need any more credit.

    I'm sure there's a number of reasons  for the "maximum allowed" message. 












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Message 11953 of 17,187
JTS0528
Established Member

Re: Navy Federal Thread for CLI and Additional Cards

Hey,  Negative as in I had a checking account with a negative $500 balance. It was negative for too long and they closed it out. I still owe the $500 from when it was closed 

Message 11954 of 17,187
addicted_to_credit
Established Contributor

Re: Navy Federal Thread for CLI and Additional Cards

I'd say that is probably 99% of your problem and obviously you need to clear it up and then doors may open for you.












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Message 11955 of 17,187
Jago22
Community Leader
Super Contributor

Re: Navy Federal Thread for CLI and Additional Cards

I know this thread is huge, and we have some newer visitors, so i wanted to put this up so that maybe it will help with questions...

Navy is the best CU ever  (as if we on here didn't know that) lol

1. Navy is mostly concerned with DTI and history w/them for approvals, not inq, util or score sensative. 

Dirty profiles can be approved, and if your DTI is in check or really low, you could get a large SL... YMMV

Clean profiles tend to get lower APR's, and higher incomes do tend to start with better SL's provided DTI in check.

Eligibilty - Armed services (active or veterans)  Immediate family (mom/dad, bro/sis, or grandparent) aunt/uncle not elig. Sponsored by a member of Navy, Backdoor thru Navy league currently closed. 

2. Navy uses Fico9. As far as pulls, most commonly we see TU for new cards, and EQ for CLI's and new loan pulls. Fico is refreshed on the website around the 4th-7th of each month, and the SP was done at the end of the previous month. EX is rare, and only if they can not access the other 2.  

3. You can have a maximum of 3 cards with Navy, spread out by 91/3 for approval (maybe 6 months if dirty profile) Max limit is 50k per card, except Flagship which is 80k

4. All the card have the same underwriting to get approved for, Only exceptions is that Flagship has a Min 5k SL 

5. CLI requests are eligible at 91/3, unless you have been approved for one then it is 180 days. Any CLI request over 25k has a greater potential to be asked for POI. We are starting to see a lot of SP CLI's, not sure how long that will last. Old saying for Navy is expect the HP, be happy if it's an SP. 

6. Each card is seperate, so provided it's been 91/3 or 180 if approved, you can ask for a CLI on all your cards same day

How mucn you get will depend on DTI/history, and how much your internal limit with them is. (no they will not tell us what that number is, so you just have to ask for what you want and see what happens)

7. CLOC (checking line of credit) is a loan product, so it will most likely pull EQ. Most never have to use it for it to show on your reports.

It is nice to have the overdraft protection, but will cost you an HP, so decide wisely. 

8. Auto/Home  Mostly the same with DTI/History being the main factors. Please reach out in those sub-forums for more info. 

 

Look forward to hearing of all your Navy successes, and we are here to help with your questions too Smiley Happy





Message 11956 of 17,187
AllZero
Super Contributor

Re: Navy Federal Thread for CLI and Additional Cards


@JTS0528 wrote:

Hey,  Negative as in I had a checking account with a negative $500 balance. It was negative for too long and they closed it out. I still owe the $500 from when it was closed 


I think you found your answer.

Message 11957 of 17,187
CreditInspired
Super Contributor

Re: Navy Federal Thread for CLI and Additional Cards


@AllZero wrote:

@JTS0528 wrote:

Hey,  Negative as in I had a checking account with a negative $500 balance. It was negative for too long and they closed it out. I still owe the $500 from when it was closed 


I think you found your answer.


😳 Absolutely JTS0528. Look at it this way. If you loaned your friend $500 with a promise that it would be paid back and the friend skipped out on the debt without a second thought, would you loan that friend another dime?

 

Like AllZero said, you definitely found your answer. 

Now on the upside, NFCU is very forgiving. If you repay that debt, they will give you a second chance. 


DEC 2019: EX 816, TU 820, EQ 810
DEC 2018: EX 777, TU 783, EQ 799

|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macy's $20K || NFCU CLOC $15K || CitiCostco $12.7K || NFCU Platinum $12.5K || Apple Card $6.5K ||
Message 11958 of 17,187
Matt9543
Frequent Contributor

Re: Navy Federal Thread for CLI and Additional Cards

got my flagship rewards card in the mail today; It's the old design. Kinda want contactless so I'm going to call later and see if they can request that.




FICO Scores (current as of November 24, 2020): Equifax: 740 | Experian: 751 | TransUnion: 732


Message 11959 of 17,187
AverageJoesCredit
Mega Contributor

Re: Navy Federal Thread for CLI and Additional Cards


@Matt9543 wrote:

got my flagship rewards card in the mail today; It's the old design. Kinda want contactless so I'm going to call later and see if they can request that.


How dare they send an old card. Cancel all your cards and retire from Navy! That will show them! HumphhhSmiley Wink

Message 11960 of 17,187
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