@DaYooper wrote:Regarding the last bullet point (2nd and 3rd cards) - What is the better approach: Applying for Flagship as a third card, or doing a PC to a Flagship?
Back story: Just became a NFCU member a few weeks ago. Got a checking and savings acct started, added money from Discover cash back and Chase Amazon cash back to populate those accounts with cash. Also started a small direct deposit to start the relationship.
I have my eyes on two cards - More Rewards, and the Flagship. From what I have read, the first card is not generous, so I am taking the approach to make the Cash Rewards my first card, which leads to the primary question above. Would I get a higher starting limit by applying directly for the Flagship as my third CC, or doing a PC from the Cash Rewards?
I will be applying for the Cash Rewards just before the January 4 SUB deadline.
@DaYooper, you could do it either way (apply for FS as card 3 or PC card 1 to FS) but if you do the PC, as with any lender you miss out on any SUBs. SUBs are usually just given on new accounts. The SUB on Flagship has been 50K points ($500 value) in the past and there is hope that they will reinstate that in the spring. So I would probably never recommend someone PC to Flagship. At least I wouldn't PC to any card with that kind of SUB potential. That reimburses the $49 AF for over ten years.
If you PC from Cash Rewards, as you stated it's likely to be a lower limit as your first card. It would have to be minimum of $5K between the SL or CLIs before you could PC to Flagship Rewards. So you'd get a higher Flagship Rewards SL probably by getting the new card. Reason number 2 to bypass a PC.
And reason number 3 to just apply for the new card is that while officially, Navy policy is to not allow you to combine credit lines across accounts, unofficially they do it often for our members. So let's say you got a $3K Cash Rewards approval on card one. And let's say you get the maximum current CLI of $4K at 91 days, bringing your CL up to $7K. Then a $15K More Rewards approval for card 2. Then go for card 3 and they give you $25K on the Flagship. You get whatever the FS SUB offering is at the time. You probably get a high SL on the card. AND... they will probably let you close the CR later and move whatever SL you had there plus any increases. So you could have a $32K FSR ($7K + $25K) and also a $15K MR PLUS a $500 SUB ... versus a $7K FSR and a $15K MR if you PC, without a SUB.
Obviously any approvals and credit limits are subject to profile, but the general idea works on whatever level your profile merits. Generally, new card approvals cap out at $25K with Navy, from what I've seen, but they can be generous awarding that amount on profiles that wouldn't get if from other lenders.
@Anonymous wrote:@OmarGB9 and @recoveringfrombk7 Navy is definitely using TU for loan products and new credit card apps. Im not sure about CLI. I can vouch firsthand for loan products, I just applied for a auto loan and they pull TU. The good news is I was approved and I do have blemishes. Yaay!!! ( doing the happy dance. Also you cannot use the same pull for a CLOC. They will only use the same pull if its a like product ( so if i was applying for a another auto loan the rep said she could use it.) I hope these DPs help someone.
Thank you for the DPs and congrats on the auto loan!
@Whitneyy wrote:So what is the opinion on various utilization before 91/3?
I read conflicting stories.
Reason asking is because I want to run a lot of money through so possibly they give me a bigger increase.
Unlike most lenders, Navy doesn't seem too concerned with how much spend you put through the card, as long as there's some spend and of course pay on time.
@Ivylicious1908 wrote:Just FYI to everyone.... I called to do a product change(PC) from Platinum to Go Rewards and they told me my interest rates will change. It was like a 3 point increase. I opted out on that change. So make sure you ask that question if you are going to PC!!
I think that's only because the Platinum offers the lowest interest rates due to its standing as a BT card, and since GoRewards is a rewards card, they obviously don't want you having a rewards card with the lowest interest rates.
@Anonymous wrote:@DaYooper The first card can be very generous depending on your profile. There are many reports of 1st cards being approved for $25K. The Flagship is the only card that has different underwriting and a SL of $5K. IMHO, if you want to play it safe, apply for the MR and if you are approved for $5K or more, you can immediately call and ask for the PC to the FS. If your profile is strong, income is good and DTI is solid then just app for the FS.
Regarding the order that you apply, that is anyone's guess. If the MR may be in your future, perhaps apply for that card first. Even though CR is offering $150 as a SUB, the current SUB points bonus on the MR works out to be $250. As generous as Navy can be, most can be approved for a second card but the third card can be tricky just FYI. I say start out with the card that serves your needs and the more of a relationship you build the better.
Looking forward to following your updates!!
From my observations, @Anonymous, there haven't been very many approvals as Flagship for card number one (OR) for approvals for card number one starting at $25K with Navy. The exceptions seem to be for not only people with very strong profiles but who have also been Navy Federal members for a long time, have other deposit accounts, and maybe even car loans or mortgages before applying for a credit card. For new members, even with very strong profiles, the difference in approvals on Navy FCU credit cards is shocking. I'm a case-in-point.
I'm an honorably-discharged active duty veteran, which you would think would count for something with Navy as a military-oriented credit union. I had FICO scores well over 800. I had income well into six-figures. My DTI counting my mortgage was about 7%. My credit card utilization was about 1%. My credit file is over three decades deep with lots of other accounts, a mixture of credit cards, mortgages, and auto loans, and never any BKs or serious delinquent. (My last 30-day late was well off my report.) However, I had no relationship with Navy Federal until October 2019 when I opened checking and savings accounts with deposits of about $1500. I waited over 30 days to apply for credit since I thought it would help my approval to be in their system.
Before I applied with Navy, I had been adding quite a few cards, so perhaps this is why they were leary of me but it was still pre-pandemic. In the previous 18 months, Chase had approved me for four personal cards including SLs of $35K, $33K, $30K, and $21.9K. GS Bank/Apple approved me with SL of $20K. Navy approved me for their Platinum card at higher than some members get on card one but well below what other banks were offering: $10K. Of note, PenFed which has a reputation as very conservative and hard-to-break credit union for many of our members approved me for a Power Cash Rewards with a SL of $15K as a brand new customer on the very same day that Navy approved me for $10K.
Fast forward about six months and they had approved me for CLIs to $18.5K. (In roughly the same amount of time, my PenFed PCR had grown to $41.7K.) Then, in July 2020, they denied my application for card number 2, a More Rewards. I was shocked. Within 30 days either side of that, AMEX approved me for a Gold card with NPSL and Pay-over-time $18K, Wells Fargo approved me for a Cash Wise at $10.5K, and Bank of America approved me for a hard-to-get Premium Rewards card at $18K.
So for whatever reason, Navy doesn't like me as well as other lenders do. That's okay. I'm letting everything age before I approach them again. I'm not bitter at Navy as much as I am confused about their underwriting and what they want. I just wanted to throw this out there before we paint too rosy of a picture of Navy's generosity. I do believe they can be very generous. But as always on My Fico, YMMV. (Your Mileage May Vary, for our newer members.)
@Aim_High wrote:
@Anonymous wrote:@DaYooper The first card can be very generous depending on your profile. There are many reports of 1st cards being approved for $25K. The Flagship is the only card that has different underwriting and a SL of $5K. IMHO, if you want to play it safe, apply for the MR and if you are approved for $5K or more, you can immediately call and ask for the PC to the FS. If your profile is strong, income is good and DTI is solid then just app for the FS.
Regarding the order that you apply, that is anyone's guess. If the MR may be in your future, perhaps apply for that card first. Even though CR is offering $150 as a SUB, the current SUB points bonus on the MR works out to be $250. As generous as Navy can be, most can be approved for a second card but the third card can be tricky just FYI. I say start out with the card that serves your needs and the more of a relationship you build the better.
Looking forward to following your updates!!
From my observations, @Anonymous, there haven't been very many approvals as Flagship for card number one (OR) for approvals for card number one starting at $25K with Navy. The exceptions seem to be for not only people with very strong profiles but who have also been Navy Federal members for a long time, have other deposit accounts, and maybe even car loans or mortgages before applying for a credit card. For new members, even with very strong profiles, the difference in approvals on Navy FCU credit cards is shocking. I'm a case-in-point.
I'm an honorably-discharged active duty veteran, which you would think would count for something with Navy as a military-oriented credit union. I had FICO scores well over 800. I had income well into six-figures. My DTI counting my mortgage was about 7%. My credit card utilization was about 1%. My credit file is over three decades deep with lots of other accounts, a mixture of credit cards, mortgages, and auto loans, and never any BKs or serious delinquent. (My last 30-day late was well off my report.) However, I had no relationship with Navy Federal until October 2019 when I opened checking and savings accounts with deposits of about $1500. I waited over 30 days to apply for credit since I thought it would help my approval to be in their system.
Before I applied with Navy, I had been adding quite a few cards, so perhaps this is why they were leary of me but it was still pre-pandemic. In the previous 18 months, Chase had approved me for four personal cards including SLs of $35K, $33K, $30K, and $21.9K. GS Bank/Apple approved me with SL of $20K. Navy approved me for their Platinum card at higher than some members get on card one but well below what other banks were offering: $10K. Of note, PenFed which has a reputation as very conservative and hard-to-break credit union for many of our members approved me for a Power Cash Rewards with a SL of $15K as a brand new customer on the very same day that Navy approved me for $10K.
Fast forward about six months and they had approved me for CLIs to $18.5K. (In roughly the same amount of time, my PenFed PCR had grown to $41.7K.) Then, in July 2020, they denied my application for card number 2, a More Rewards. I was shocked. Within 30 days either side of that, AMEX approved me for a Gold card with NPSL and Pay-over-time $18K, Wells Fargo approved me for a Cash Wise at $10.5K, and Bank of America approved me for a hard-to-get Premium Rewards card at $18K.
So for whatever reason, Navy doesn't like me as well as other lenders do. That's okay. I'm letting everything age before I approach them again. I'm not bitter at Navy as much as I am confused about their underwriting and what they want. I just wanted to throw this out there before we paint too rosy of a picture of Navy's generosity. I do believe they can be very generous. But as always on My Fico, YMMV. (Your Mileage May Vary, for our newer members.)
@Aim_High Thank you for sharing these details. I know it's widely suggested to use the 91/3 or 6 month timeframes for new cards and/or CLIs with Navy. Based on your comment about your Penfed Cash Rewards Card growing from $15k to $41.7k vs NFCU from $10k to $18.5k, does PenFed have a set timeframe to ask for CLIs that you suggest as well or did you ask for the CLIs at PenFed when you asked for them at NFCU? Also, did you receive each CLIs you requested from Navy? Thanks!
@credit8502020 wrote:@Aim_High Thank you for sharing these details. I know it's widely suggested to use the 91/3 or 6 month timeframes for new cards and/or CLIs with Navy. Based on your comment about your Penfed Cash Rewards Card growing from $15k to $41.7k vs NFCU from $10k to $18.5k, does PenFed have a set timeframe to ask for CLIs that you suggest as well or did you ask for the CLIs at PenFed when you asked for them at NFCU? Also, did you receive each CLIs you requested from Navy? Thanks!
You're welcome @credit8502020. By the way, I don't mean to throw a wet blanket on the Navy party as they offer a great opportunity for many. Just know that they value relationship very highly. My experience may have also been tempered by the economic tightening of the pandemic as well as my other recent credit-seeking. So I'd suggest members not to be too active with other lenders while trying to focus on building Navy accounts. Some have speculated otherwise that they aren't very new account or inquiry sensitive, but like all lenders I think they have their limits. That's about all I can figure on what happened in my situation as my profile otherwise was very solid.
No, Navy has never turned me down for a CLI.
I didn't strictly follow the forum's guidelines in asking for Navy CLIs as early as possible. I wanted to be a little more relaxed and not pushy with them. My Platinum card was approved on 11/18/2019 for $10K. Back then, the standard CLI with Navy was still $8K, and I was approved by Soft Pull from Navy to $18.0K on 04/02/2020. I'm showing that at about 4.5 months (136 days) so I was above the usual 91/3 suggestion.
I would normally have not been eligible for another CLI for six months from 04/02/2020.
**Big Note: Navy's website may still show the CLI button, even if you're not eligible for your next full increase!!! I saw it and curiously clicked on it on 06/08/2020. They gave me a $500 "Covid-relief" style CLI to $18.5. 
I wasn't pleased as I imagine it reset my "clock" on when my next full CLI could be approved. And actually, this (may) be related to why they denied my More Rewards application on 07/06/2020: I asked for that $8K CLI first, before a new card, and I had also been approved for two recent CLIs on my Platinum card. In hindsight, the general advice to ask for a new card before a CLI with Navy is probably always a good idea.
I'm showing that today (12/09/2020) has been 184 days since my $500 CLI on Platinum. But since Navy denied me in July, I'm thinking about waiting to ask for more.
My PenFed card was also approved on 11/18/2019. I had heard that PenFed requires six months to consider your first CLI, so I applied on 05/19/2020, which I show was 183 days from card approval. My limit increased from $15K to $25K with a hard pull on EQ. Due to what they blamed as a "system glitch" between their old and new automation, they offered me an additional soft-pull $16.7K in credit on 06/06/2020 which I could take as an increase to my Power Cash card or to open a new account. I took it as an increase to my existing account, but they never implemented it initially. They were in the process of capping each account at $25K. After a few months of going back and forth with them, they reinstated that amount and my Power Cash rose to $41.7K without an additional hard pull. But they made me work for it. Same thing happened to several others on My Fico.
So generally, after you apply for a first card, wait 91/3 full statements for second new card and then a CLI request with NFCU. After the first CLI, six months between requests on the same card. (So card two could ask for CLI at 91/3 also.) And just six months between requests with PenFed, including the first one.
@Aim_High wrote:
@credit8502020 wrote:@Aim_High Thank you for sharing these details. I know it's widely suggested to use the 91/3 or 6 month timeframes for new cards and/or CLIs with Navy. Based on your comment about your Penfed Cash Rewards Card growing from $15k to $41.7k vs NFCU from $10k to $18.5k, does PenFed have a set timeframe to ask for CLIs that you suggest as well or did you ask for the CLIs at PenFed when you asked for them at NFCU? Also, did you receive each CLIs you requested from Navy? Thanks!
You're welcome @credit8502020. By the way, I don't mean to throw a wet blanket on the Navy party as they offer a great opportunity for many. Just know that they value relationship very highly. My experience may have also been tempered by the economic tightening of the pandemic as well as my other recent credit-seeking. So I'd suggest members not to be too active with other lenders while trying to focus on building Navy accounts. Some have speculated otherwise that they aren't very new account or inquiry sensitive, but like all lenders I think they have their limits. That's about all I can figure on what happened in my situation as my profile otherwise was very solid.
No, Navy has never turned me down for a CLI.
I didn't strictly follow the forum's guidelines in asking for Navy CLIs as early as possible. I wanted to be a little more relaxed and not pushy with them. My Platinum card was approved on 11/18/2019 for $10K. Back then, the standard CLI with Navy was still $8K, and I was approved by Soft Pull from Navy to $18.0K on 04/02/2020. I'm showing that at about 4.5 months (136 days) so I was above the usual 91/3 suggestion.
I would normally have not been eligible for another CLI for six months from 04/02/2020.
**Big Note: Navy's website may still show the CLI button, even if you're not eligible for your next full increase!!! I saw it and curiously clicked on it on 06/08/2020. They gave me a $500 "Covid-relief" style CLI to $18.5.
I'm showing that today (12/09/2020) has been 184 days since my $500 CLI on Platinum. But since Navy denied me in July, I'm thinking about waiting to ask for more.
My PenFed card was also approved on 11/18/2019. I had heard that PenFed requires six months to consider your first CLI, so I applied on 05/19/2020, which I show was 183 days from card approval. My limit increased from $15K to $25K with a hard pull on EQ. Due to what they blamed as a "system glitch" between their old and new automation, they offered me an additional soft-pull $16.7K in credit on 06/06/2020 which I could take as an increase to my Power Cash card or to open a new account. I took it as an increase to my existing account, but they never implemented it initially. They were in the process of capping each account at $25K. After a few months of going back and forth with them, they reinstated that amount and my Power Cash rose to $41.7K without an additional hard pull. But they made me work for it. Same thing happened to several others on My Fico.
So generally, after you apply for a first card, wait 91/3 full statements for second new card and then a CLI request with NFCU. After the first CLI, six months between requests on the same card. (So card two could ask for CLI at 91/3 also.) And just six months between requests with PenFed, including the first one.
@Aim_High Thank you! I'm timing my 2nd card with NFCU. I got the CR at the end of September and was considering apping for a 2nd card at the end of January, but I'm now strongly considering waiting until the end of March. I have a large purchase coming soon so I would rather use a card with a SUB for it, but I don't want to throw off building with NFCU either. My thought was to consider apping for 2 cards at the same time especially since both inquiries would fall off at the same time, etc. I only have 1 inquiry on TU, but I want to be as strategic as possible. The 2 NFCU cards I was thinking about was the Platinum & GoRewards. Not sure about which other card. Was considering PenFed for their Cash Rewards card, but I'm not a member yet and concerned about how they will respond to me not being a member long and applying so quickly and having a late at 2 yrs and 3 months. Looking for another option that is not as conservative. I'll see soon...!