Question..
My Cash Rewards graduated back in Feb with a $2,000 limit. I'm planning on requesting a CLI after my May statement. Is NFCU sensitive to new credit accounts? Since then, I've gotten NFCU AMEX ($3100) and a Discover ($5,000) card- both finally reported this month which brought on score drops. And just to confirm, a CLI is a soft pull through the app/or online?
DS 4th statement cut a few days ago on his nRewards Secured Visa so applied today for More Rewards AMEX and instant approval $1300!
We started his credit journey Dec last year:
NFCU nRewards Secured Visa @$1000 opened Dec 2020
NFCU Self Loan $89/$1000 Opened Dec 2020
Discover Card Unsecured $1500 Opened Apr 2021
TU Vantage 3.0 Score when applied was 687 income $20,700.
Now his plan is to garden and look for that nRewards to Unsecure in a couple months and CLI the More Rewards in 91/3
@AverageJoesCredit wrote:
@Anonymous wrote:
@brk1971 wrote:NFCU additional card question...
Are there any downsides to consolidating cards after you reach the unsecured max?
I currently have:
- Platinum #1 - $10.7k opened 1/2016, last CLI last month (to max unsecured)
- Flagship - $45k opened 2/2019, last CL change 10/2019 which was a reallocation of $20k from Platinum #1 to this card.
- Platinum #2 - $24.3k opened 6/2019, no CLI ever on this card
My working plan is to eliminate Plat #2 in 6 months, reallocating $15k to the Flagship (total $60k) now, followed by the closure and moving the rest to Plat #1 to bring the total of that card to $20k.
Does this plan have any faults?
The only fault is if they say no to the combination which they do sometimes.
Concur plus ime, combos though awesome can sometimes affect your ability to get another ( 3rd card) for awhile. I think if Navy sees too many combinations/closures they may not feel comfortable on keep giving more. No real ancillary evidence but more a gut feeling
Makes sense. Unless there's a bad cycle that causes a CLD, I think that may not matter in my case, as I'm already at their CC max across lines ($80k), so opening wouldn't be possible anyway.
@Anonymous
That is really awesome you received the lowest apr for the Platinum!
With the additional credit (Capital One) and inquiries i believe you should wait atleast another 4 months or longer if you can, the more time ... the better.
Build up a record of payment history with them before applying for another Navy card.
Along with time passing maybe a few inquiries could possibly drop off the reports as well or atleast age a bit.
As for a CLI, that wil/should be a SP.
Still I would attempt to garden for a few more months but YMMV!
I read your 91/3 is coming...
Still, congratulations on you Navy Platinum approval!
@Anonymous wrote:
@Anonymous wrote:So my first card with Navy was a platinum $3000@ 5.99% ...I am coming up on my 91/3 and since my rebuild has been a score roller coaster but mostly up overall. My one mistake is inq's 11/6... I was trying to build my overall credit limits. The main hit was a capital one card...( Should have read up on here before I apped it) the 3 hps didn't help... especially for a bucketed $300 cl.
So how can I find out my internal score with them. I did get lowest APR on the platinum but worried about the others factors in their eyes about score fluctuating and INQ'S..on my chances for a second card and CLI...
ANY THOUGHTS??
Yeah, go for your CLI at 91/3 but don't app a second card. It sounds like you have a lot of HPs and several new accounts. Give it another three months at least (beyond 91/3) before you think about another card. Use that time to optimize your profile - no apps or HPs, work on derogs and balances, and give your reports the chance to improve. The cards will still be there and you may get a significantly better SL by waiting.
@Anonymous ^^^^ this
It was well put.
Try hard and bring forth your best report, then reap the rewards!
Best of luck!