@GoTarHeels wrote:Hello everyone,
I just recently started following this thread because I just became a NFCU member. I didn't know I was eligible until not too long ago, so that was a nice surprise!
I went ahead and applied for the More Rewards AMEX and was approved for a $1K SL (it's a start). TU was pulled, my score is 676.
Does anyone know how long it takes for Navy to report your new credit card to the CRAs? I read the last 20 pages of this thread and didn't see anything. Appreciate the help. And thanks again to all of you lovely people on this forum! My credit journey has improved dramatically based on the information I have learned here.
@GoTarHeels, Congratulations and Welcome to the Navy family
We have about 375 a month on a car payment and a few credit cards (we let them keep a balance and then pay off after the statement is cut)
Car payment is 303 technically and really our only debt.
We dont bank fully with navy as they have no branches here and hubby doesnt like that idea yet, slowly opening him up (although this was a slam to the face for that lol)
They said we are at our internal limit at 6k.. which is less than my wayfair is right now and about where capital one is (who is supposed to be a lo crappier, but allowed us both to have 2nd cards months ago)
We really waited solely to have th best score possible with them and hubby even declined cap1s offer in favor of trying for a second nfcu over 6 months later. I'm at a loss how so many have such high limits and we are at internal limit at 6k 
@Anonymous wrote:We have about 375 a month on a car payment and a few credit cards (we let them keep a balance and then pay off after the statement is cut)
Car payment is 303 technically and really our only debt.
We dont bank fully with navy as they have no branches here and hubby doesnt like that idea yet, slowly opening him up (although this was a slam to the face for that lol)
They said we are at our internal limit at 6k.. which is less than my wayfair is right now and about where capital one is (who is supposed to be a lo crappier, but allowed us both to have 2nd cards months ago)
We really waited solely to have th best score possible with them and hubby even declined cap1s offer in favor of trying for a second nfcu over 6 months later. I'm at a loss how so many have such high limits and we are at internal limit at 6k
Do you have a housing payment? I agree, given how similar our profiles are I think it's weird. I realize no two profiles are the same, but ours are pretty close.
@recoveringfrombk7 wrote:
@Anonymous wrote:They said we are at our internal limit at 6k.. I'm at a loss how so many have such high limits and we are at internal limit at 6k
Do you have a housing payment? I agree, given how similar our profiles are I think it's weird. I realize no two profiles are the same, but ours are pretty close.
Sorry for your low limit frustration, @Anonymous.
I noticed in your siggy, though, that "Chap 7 discharged 12/2018." I've never had a bankruptcy but have been told that while Navy is more forgiving than some lenders about flawed credit factors, they tend to be conservative about BK and want to see it fade into the past before they feel comfortable.
I've also read that Navy is heavily influenced by not just total debt but debt-to-income. So even if your debts may not seem high, the context of income needs to be considered.
Navy also likes that relationship to age. I see you've been with them over a year, and normally that would be a point they would start to loosen up with most profiles. The BK7 may be holding them back more. I would say just be patient and give them more time.
The other data point I would add is that with Navy, first credit card limit is often low. Second cards tend to get much better limits. And that "internal limit" can be quite variable. Others might chime in but if I'm not mistaken, sometimes a second card may get approved when a CLI is declined???
@Anonymous wrote:We have about 375 a month on a car payment and a few credit cards (we let them keep a balance and then pay off after the statement is cut)
Car payment is 303 technically and really our only debt.
We dont bank fully with navy as they have no branches here and hubby doesnt like that idea yet, slowly opening him up (although this was a slam to the face for that lol)
They said we are at our internal limit at 6k.. which is less than my wayfair is right now and about where capital one is (who is supposed to be a lo crappier, but allowed us both to have 2nd cards months ago)
We really waited solely to have th best score possible with them and hubby even declined cap1s offer in favor of trying for a second nfcu over 6 months later. I'm at a loss how so many have such high limits and we are at internal limit at 6k
Bk7 , no matter what , is a huge negative. Some people feel even though its been discharged and they have reestablished some credit, that the bk7 should have no affect. It does. You will have much better success once thats off reports. If you have a bk reporting, be glad they even give a cc, many lenders will not.