Navy Federal Thread for CLI and Additional Cards

[Anonymous]

@Anonymous  Congrats on the CLI!

[Anonymous]

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@Anonymous wrote:

@Anonymous 

Just wanted to give you my timeframe. My 91/3 was on 8/19 for my CR. Requested a CLI on 8/19 around 330. Starting limit was 5900$, requested increase to 13000$. Got the 24 hr message. This morning my available is showing an increase of 4K. So it took just a little over 24 hours for me. I'm happy with the 4K bump

Hope you receive good news soon!

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Thanks for the DPs! I will be fine with $4K, which seems to be the Covid CLI ;-)

[Credit4Growth]

This topic may be better positioned for a response in Rebuilding, however is is specifically related to NFCU.

For purposes of building out one credit/ thickening a file.  Does/would the Navy CLOC count as a perssons 3rd revolver or better yet is it better to have a bank card issued (ie. USBANK, BOA) and repoertes to the CB's.

I know this may be a tough question to answer with certainty.  I just thought since this thread is heavily viewed someone may have any experience with this.

On topic news:  I requested and received a $3.1K increase on my Navy Platinum card (July 2020) which I don't believe I posted in approvals.  As well, today I was granted an APR reduction from 10.99% to 6.99% 😃

Thanks!

[pt91978]

Yes, I like to know this as well.  For the purpose of rebuilding,  why is bank card issued card considers better than a CU issued credit card?

[Anonymous]

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@Credit4Growth wrote:

This topic may be better positioned for a response in Rebuilding, however is is specifically related to NFCU.

For purposes of building out one credit/ thickening a file.  Does/would the Navy CLOC count as a perssons 3rd revolver or better yet is it better to have a bank card issued (ie. USBANK, BOA) and repoertes to the CB's.

I know this may be a tough question to answer with certainty.  I just thought since this thread is heavily viewed someone may have any experience with this.

On topic news:  I requested and received a $3.1K increase on my Navy Platinum card (July 2020) which I don't believe I posted in approvals.  As well, today I was granted an APR reduction from 10.99% to 6.99% 😃

Thanks!

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@Credit4Growth It's not hard to answer. Most PLOCs show up as revolvers but on some versions they may not count as a credit card even though it counts as a revolver. But its still is going to count for thickness as you asked. 

It's in the scoring primer linked at the top of my signature, takes you to a thread where it was tested by one of our most esteemed members.

An LOC will count as your third revolver and it doesn't matter if it's from bank or credit union, it will still count for scoring purposes. The only one that reports funny I think is the one from US Bank the RLOC or something, at least the ones I've read of. 

oh and congratulations on your rate reduction!

[Anonymous]

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@pt91978 wrote:

Yes, I like to know this as well.  For the purpose of rebuilding,  why is bank card issued card considers better than a CU issued credit card?

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@pt91978 Who said that it is? Big banks may look at other big banks more heavily than they do credit unions possibly, when looking at something on manual review, but from a scoring perspective, I don't believe there's any difference other than a few CU cards that report funny.

[pt91978]

@Anonymous  I recalled reading it on here awhile ago that it is recommended to get a major bank card over the CU card.  It's good to know that it makes no difference in scoring, and that I don't need to add a major bank card to my lineup.  Thanks.

[Anonymous]

@pt91978 As a matter fact you get extra points for your credit based insurance score all the way up to having 33% of your cards being from credit unions. But they take points for retail cards.

so as far as insurance scores go, your credit union cards help you and as far as fico goes it looks at the credit unions and bankcard the same unless they're coded funny and that's only been a few credit unions maybe even on certain versions only. But the 76 card hurts you on your insurance scores

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

@Anonymous 

Just wanted to give you my timeframe. My 91/3 was on 8/19 for my CR. Requested a CLI on 8/19 around 330. Starting limit was 5900$, requested increase to 13000$. Got the 24 hr message. This morning my available is showing an increase of 4K. So it took just a little over 24 hours for me. I'm happy with the 4K bump

Hope you receive good news soon!

---

Thanks for the DPs! I will be fine with $4K, which seems to be the Covid CLI ;-)

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Woke up and checked my account... I got the $4000 CLI!!!😁

I am good with it!

[Anonymous]

@Anonymous 

Wow that is terrific news!! Congrats my friend and happy Saturday!! 😁