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Navy Federal Thread for CLI and Additional Cards

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Re: Navy Federal Thread for CLI and Additional Cards

@Jago22 - yes, thank you! I know the key is to be patient so I will wait it out knowing it will be worth it in the end.
Message 10511 of 10,846
Regular Contributor

Re: Navy Federal Thread for CLI and Additional Cards

Just Got approved a third card with nfcu on my second 91/3 Amex more rewards $15,300sl


My DP
My first card was approved March platinum
$20,600
90 days later went for the second card flagship 25k
Today Amex more rewards $ 15,300 the apr is 12% something I didn’t save a screen shot of the page

TU is Fico 771

1% utilization
DTI Zero
4 inq
Average age 2 years almost
I have also 2 AU cards all in good standing
And the 2 nfcu I own
Income 145k
Message 10512 of 10,846
Valued Member

Re: Navy Federal Thread for CLI and Additional Cards


@Jago22 wrote:

@DJRobbieD wrote:

  1. @DJRobbieD wrote:

    Looking for some further advice... next month I will hit my 91/3 mark on a $10k NFCU Platinum MC that was approved back on 7/12/19.  As mentioned in a previous post, I expected a higher SL based on my income ($330k) and FICOs (mid-high 700s), but suspect that my overall UT at the time (35%) was a handcuff.  Since then, UT is way down (now <10%) and FICOs now over 800 (see my signature for additional DPs).

     

    So my question is what's the next best course of action with NFCU to maximize my total unsecured exposure with them once I hit the 91/3 mark next month? Request a 3x CLI on the Platinum, apply for a 2nd card, or both? If both, in what order? 

     

    I'd prefer not to open a 2nd NFCU card right now after opening new cards with NFCU (reporting), Chase (reporting), and Apple (not yet reporting) in the last 2 months which is driving down my AAoA, but I'm not against the idea as I'm going to be gardening for a couple years anyway after this recent spree.  I'm just wondering if it'd better to stick with 3x CLI request for now, then trying another CLI request next year (at least 6 months, right?) to get me up to the $50k max on the Platinum, for the cost of two EQ HPs.


    Bump

@DJRobbieD   

1. Navy decides CLI on your DTI not just Util.  Yes you make a great income (congrats) but if your DTI is high due to Large house payment or multiple cars or large student or any other type of loans, they may not give you the max the card can have.   Most of the time when you ask for more than 25k they will POI you, so be ready for that. 

 

2. Most people ask for a CLI first.   It's either instant or goes to review, and you can app a second card at that time.  From DP's and in my EXP, it's easier to get a huge SL then a huge CLI.   However with that income and if your DTI is in check you could do well with both. 

 

3. If you don't mind showing the proof of the awesome income, you could get 50k from one CLI.  YMMV but look forward to hearing of your success. 


@Jago22, thank you for the feedback! 

 

My DTI was likely an additional contributing factor to the $10k SL, as I have a $4k/mth mortgage payment (as well as $366/mth car payment and $190/mth in student loan payments). 

 

POI shouldn't be a problem if they need it.  Is NFCU fine with recent paystubs, or do they require recent tax returns?

 

Sounds like requesting a CLI is my best course of action next month.  Doesn't sound like a 2nd card is neccessary to maximize my unsecured exposure.

CSR $41k (AU) || HVFCU Plat $30k || CSP $29.4k || CFU $17.1k (not yet reporting) || Apple Card $15k (not yet reporting) || NFCU Plat $10k || Blue Nile $6.5k || Kay Jewelers $4k || Target $3k (AU) || Men’s Wearhouse $2k

***DPs as of 9/27/19***
FICO 8's: EX828 / EQ843 / TU828
AoOA: 16.2, AAoA: 7.7
Income: $330k, TCL: $158k, UT under 4%
INQ (last 24m): EX 3 / EQ 0 / TU 2
INQ (last 12m): EX 2 / EQ 0 / TU 1
New Accts: 0/30, 2/24

Next steps: Apply for CIP in Jan 2020 for the Chase ‘quadfecta’, then garden city
Message 10513 of 10,846
Regular Contributor

Re: Navy Federal Thread for CLI and Additional Cards

Where online can I see the application status of a cc ? It used to be online when you go to account services
It was instant approval but I wanna see if I can see the apr there
Message 10514 of 10,846
Community Leader
Senior Contributor

Re: Navy Federal Thread for CLI and Additional Cards

@DJRobbieD 


@Jago22, thank you for the feedback! 

 

My DTI was likely an additional contributing factor to the $10k SL, as I have a $4k/mth mortgage payment (as well as $366/mth car payment and $190/mth in student loan payments).    On the DTI, i'm going to lean that it had a small factor and that you just need to build some history with them first.   @330k, i'm not seeing enough payments above to hinder you, but with a few months of use and pay, you should be rocking the huge NFCU card.   YMMV as always. 

 

POI shouldn't be a problem if they need it.  Is NFCU fine with recent paystubs, or do they require recent tax returns?

TBH, I have no idea, i don't have the income for a monster limit where POI is needed.  

 

Sounds like requesting a CLI is my best course of action next month.  Doesn't sound like a 2nd card is neccessary to maximize my unsecured exposure.   It's not, just good usage and payments will do that for you.  IME and starting with a not clean profile, i did better with new card SL's than i did CLI's.   I also shouldn't have jumped the gun and waited 6 months instead of 91/3 as well.  You however are in a much better boat, so i would guess you will have a lot more success faster than i did Smiley Happy


 





Message 10515 of 10,846
Super Contributor

Re: Navy Federal Thread for CLI and Additional Cards


@ScooterMcDoodlebutt wrote:
Yeah, I have all the cards I need to keep me happy for quite a while, but the Platinum is currently my only Visa card. My goal is to grow it to $25K as well. If I never get a CLI on the More Rewards I would be alright with it, as long as I can get my Platinum to a decent limit & a lower APR (the More Rewards has a lower APR than my Platinum!)...

Personally I would just send them an SM with the subject credit limit increase/decrease and ask them to move some of the limit from the new card to the old one. A $1K Platinum is totally unusable. Just keep in mind that any credit limit change sets that account for a 180 day clock before you can request a CLI if you go that route. 



01/2019:
10/2019:

Hover over my cards to see my limits!
Goal cards: Cash+, Freedom.
Message 10516 of 10,846
Established Contributor

Re: Navy Federal Thread for CLI and Additional Cards


@Saeren wrote:

@ScooterMcDoodlebutt wrote:
Yeah, I have all the cards I need to keep me happy for quite a while, but the Platinum is currently my only Visa card. My goal is to grow it to $25K as well. If I never get a CLI on the More Rewards I would be alright with it, as long as I can get my Platinum to a decent limit & a lower APR (the More Rewards has a lower APR than my Platinum!)...

Personally I would just send them an SM with the subject credit limit increase/decrease and ask them to move some of the limit from the new card to the old one. A $1K Platinum is totally unusable. Just keep in mind that any credit limit change sets that account for a 180 day clock before you can request a CLI if you go that route. 


I asked the rep if I could re-allocate some of my $25K SL to my Platinum, & the rep said no. I wasn't going to argue; I figure this could be a battle for another day...



Starting Score: Nov 3, 2018: EX 597 TU 599 EQ 616
Current Score: October 1, 2019: EX 665 TU 688 EQ 675
Goal Score: Dec 31, 2019: EX 700 TU 700 EQ 700

Take the myFICO Fitness Challenge






Message 10517 of 10,846
Super Contributor

Re: Navy Federal Thread for CLI and Additional Cards


@ScooterMcDoodlebutt wrote:

@Saeren wrote:

@ScooterMcDoodlebutt wrote:
Yeah, I have all the cards I need to keep me happy for quite a while, but the Platinum is currently my only Visa card. My goal is to grow it to $25K as well. If I never get a CLI on the More Rewards I would be alright with it, as long as I can get my Platinum to a decent limit & a lower APR (the More Rewards has a lower APR than my Platinum!)...

Personally I would just send them an SM with the subject credit limit increase/decrease and ask them to move some of the limit from the new card to the old one. A $1K Platinum is totally unusable. Just keep in mind that any credit limit change sets that account for a 180 day clock before you can request a CLI if you go that route. 


I asked the rep if I could re-allocate some of my $25K SL to my Platinum, & the rep said no. I wasn't going to argue; I figure this could be a battle for another day...


The rep is misinformed. Never do these things with a rep. Send a secure message to the department that I said and they'll do it in a heartbeat. 

As for the APR, you can ask for a decrease every 12 months. 



01/2019:
10/2019:

Hover over my cards to see my limits!
Goal cards: Cash+, Freedom.
Message 10518 of 10,846
Community Leader
Senior Contributor

Re: Navy Federal Thread for CLI and Additional Cards

Saeren is correct. Last year this is exactly how $5K was taken from cashRewards and allocated to Platinum. I sent a SM first to ask if it could be done. Got a yes response asking me exactly how I wanted it reallocated. I responded and it was done with a few hours. Voila. 

 

So yep, just aend a SM. Easy, peasy. 

GOALS: Garden til APR 2020 and 800 Club


SEP 2019: EX 791, TU 797, EQ 800
JUN 2019: EX 788, TU 794, EQ 779
DEC 2018: EX 777, TU 783, EQ 799

|| AmX Cash Magnet $25K || NFCU CashRewards $20K || Macy's $20K || Discover IT $18.7K || NFCU CLOC $15K || NFCU Platinum $12.5K || AmX ED $11.5K || CitiCostco $7K || CitiDC $6.3K ||
Message 10519 of 10,846
Established Member

Re: Navy Federal Thread for CLI and Additional Cards


@Llanowar13 wrote:

Just an added data point for NFCU.

 

Applied and received cashRewards card in June of 2018, 25K starting limit; CLOC granted at 15K at the same time.

 

Requested increase on July 2, 2019 for 50K.

 

Received 24 hour notice. About 4-5 hours later the available credit on the account was increased to 45K. No POI requested.

 

Pulled EQ. Only inquiry was from June 2018 for the NFCU CLOC. NFCU FICO 9 score, 850.

 

DTI is < 1%. Income ~169,000. NFCU member since 2001; direct deposit into NFCU checking. Multiple loans over the years, current car loan with ~10% value left (two years early payoff); scheduled completion in October.

 

On credit report at the time of applying were four other card accounts, the most recent a Chase Sapphire Reserve from October 2018 with 28K limit. The other three accounts are all ~10K limits. Freedom Unlimited app just before this increase request was approved for 24.1K. Two installment loans, one car loan from NFCU and a student loan.

 

I recevied an e-mail a day or so later stating that my limit had been increased to 45K, and if this was less than I requested I would receive a letter explaining why. I will update this when I receive the letter.

 

I just wanted to re-iterate an important point that many members have stated in this thread; don't be discouraged by small increases or lower initial limits. History with NFCU is important. While my numbers look great today, they gave me that car loan years ago when things weren't so good. Everyone has a history, and NFCU is more willing than most to work you. Keep that in mind and continue to build a positive relationship and you will be surprised what they are willing to do for you.

 

Edit: Forgot to add this - Oldest account ~23 years; Average Age ~10 years; Youngest account ~9 months.



I relaized I forgot to update this thread. I received the letter from NFCU which said I had reached my maximun unsecured exposure. I found it amusing that they drew the line at the last 5k of this request.

 

 

Message 10520 of 10,846
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