Navy Federal Thread for CLI and Additional Cards

[Anonymous]

Agreed!

[Credit4Growth]

Imagine if they did a 4% rotating catagory on top of the Platinum or Cash Rewards with a 2K cap.

They would probable have a heavy influx of new members again. - go Navy 😁

[8bitmachinegun]

I've heard that one should take NFCU's pre-qualification tool with a grain of salt. However, it says I'm eligible for the Flagship Rewards card. Should I believe it? I seem to recall that card requiring a $2500 balance on an NFCU checking account. While I do have an NFCU checking account, the balance is pretty paltry. I do have an NFCU IRA, but it's not quite up to $2.5K yet.

[800wannabe420]

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@8bitmachinegun wrote:

I've heard that one should take NFCU's pre-qualification tool with a grain of salt. However, it says I'm eligible for the Flagship Rewards card. Should I believe it? I seem to recall that card requiring a $2500 balance on an NFCU checking account. While I do have an NFCU checking account, the balance is pretty paltry. I do have an NFCU IRA, but it's not quite up to $2.5K yet.

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I have the Navy Flagship card and there is no minimum checking account balance requirement for this card. 

As for the NFCU prequal tool, it has proven to be unreliable at this time. 

[8bitmachinegun]

@800wannabe420Thanks for the info. Do we have any sort of baseline for the More Rewards or Flagship cards?

[800wannabe420]

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@8bitmachinegun wrote:

@800wannabe420Thanks for the info. Do we have any sort of baseline for the More Rewards or Flagship cards?

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I have both cards (an excellent combination IMO).  What kind of baseline are we talking about?

[8bitmachinegun]

Things like minimum credit score, overall utilization, length of credit, history with Navy, etc. I've had a NFCU Platinum with a $15K SL for about a year carrying a <10% utilization, but my overall utilization is more like 18%. 

A year and a half ago a car dealership pounded my credit with about a dozen HPs shotgunning for a loan approval, so I'm nervous about racking up an HP without something to show for it.

[800wannabe420]

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@8bitmachinegun wrote:

Things like minimum credit score, overall utilization, length of credit, history with Navy, etc. I've had a NFCU Platinum with a $15K SL for about a year carrying a <10% utilization, but my overall utilization is more like 18%. 

A year and a half ago a car dealership pounded my credit with about a dozen HPs shotgunning for a loan approval, so I'm nervous about racking up an HP without something to show for it.

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I believe the UW requirements for all NFCU cards (with the exception of the Navy Flagship) are the same, so since you already have the Platinum with a 15K limit you should be good to go for the More Rewards. 

The Navy Flagship requires a minimum 5K sl so once again it appears you're covered on that front. 

NFCU does not appear to be overly concerned with inquiries. DTI seems to be a determining factor in their care decisions. Length of membership is a plus, the longer the better.  Like every lender, a low utilization percentage is always preferable but I would guess you are okay at 18% .

Something to consider is besides the $49 annual fee for the Flagship, the minimum cash redemption for both cards is $50.

[Anonymous]

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@8bitmachinegun wrote:

Things like minimum credit score, overall utilization, length of credit, history with Navy, etc. I've had a NFCU Platinum with a $15K SL for about a year carrying a <10% utilization, but my overall utilization is more like 18%. 

A year and a half ago a car dealership pounded my credit with about a dozen HPs shotgunning for a loan approval, so I'm nervous about racking up an HP without something to show for it.

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Underwriting is the same for all the cards with the exception of the Flagship. The FS starts at a $5K minimum SL and it offers a SUB in the spring each year. If you are concerned about an approval of at least $5K you can always apply for a different card. If approved over $5K you can call in immediately and ask to do a product change to the FS. Navy seems more interested in your relationship with them then how many HP's you have. Those HP's for the car don't count anymore anyway so IMHO, I wouldn't worry about that at all. 

If you decide to go for it, please let us know and my fingers are crossed for your success!! 

[Anonymous]

I wouldn't mind another 5% rotator, although it would be nice if it weren't the exact same categories that Chase and Discover offers.

@pt91978 wrote:

 Wow, just 5 months huh?  I assume you didn't request a CLI at 91/3?

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Honestly speaking with a $25K SL it probably isn't imparative to get a CLI at 91/3, that move is more benficial to those who get a very low SL to  help boost their CL before the dreaded 6 month wait.