Navy Federal Thread for CLI and Additional Cards

[Anonymous]

‎10-10-2019 05:42 PM
Re: NFCU approval possibility?
Hey all I have been reading these posts for weeks so I decided to ask for some help on my rebuilding journey. A little history bout myself is that I am currently in chapter 7 bankruptcy and will be discharged on 11-16-19. My scores are currently hovering around 570 across the board. I have no collections at all but the chapter 7 is showing as a public record. I currently am an au on two credit cards showing about a 18%utl. I have a mortgage which I have never been late on and a new car loan. Could someone please advise on what the next step would be. I am looking forward to a fresh start an not make the mistakes I have made in the past. My wife is in the same boat although she has 650 scores across the board without the mortgage showing on her credit report and a new car loan. She also has one credit card of her own (unsecured 250) an an authorized user on another. Advise for her to would be appreciated.

[Anonymous]

Maximum exposure is a nice way to say..  give us more time to get to know you.   It can be overcome, it just takes longer if you have a low income or a dirty profile.   I can say from EXP with Navy.  

[Anonymous]

Yeah def have a dirty profile income is about 67k a year. What do you think my first step should be when I finally get discharged?

[Anonymous]

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@Anonymous wrote:
Yeah def have a dirty profile income is about 67k a year. What do you think my first step should be when I finally get discharged?

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@Anonymous    Honestly that will be up to you and your specific credit goals.    I will say this, PACE yourself.   I went like a kid in a candy store grabbing everything i could get my hands on (still do sadly) and had i waited i would have done a lot better than i do believe.    

You have a good income, so it should be easier to get CLIs and such.   The lesson i'm still trying to learn is that it's a marathon, not a sprint.    Enjoy the scenery along the way to 800.. 

[Anonymous]

Thank you. My goals are to learn how to establish credit an be able to live comfortably. Just not sure how what to do past paying your bills on time and keep your utl low. I am not sure when or how to apply for secured/unsecured. Just kinda afraid to try an establish in fear of what I went thru.

[Anonymous]

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@Anonymous wrote:
Thank you. My goals are to learn how to establish credit an be able to live comfortably. Just not sure how what to do past paying your bills on time and keep your utl low. I am not sure when or how to apply for secured/unsecured. Just kinda afraid to try an establish in fear of what I went thru.

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Welcome to the forum. Spend a LOT of time reading this forum & learning. Pull your credit reports after you get discharged & make sure everything is reporting correctly. It may take a few months for the dust to settle, so don't pull them immediately.

Can you give us some more info on your BK? Who was included, did you burn any cc companies, etc. The more you give us, the more we can advise you what to do next. Good luck!

[Anonymous]

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@Anonymous wrote:
Thank you. My goals are to learn how to establish credit an be able to live comfortably. Just not sure how what to do past paying your bills on time and keep your utl low. I am not sure when or how to apply for secured/unsecured. Just kinda afraid to try an establish in fear of what I went thru.

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You can get all of your questions and any more that you have from our great rebuilding forum.

https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/bd-p/rebuildingcredit

[brk1971]

My NFCU account relationship is somewhat solid, but I'm looking for data points specific to a CLI after reallocating CL between existing cards. 

With NFCU, I have:

• Flagship $45k CL
• Platinum 1 $5k
• Platinum 2 $24.3K
• CLOC $15k
• Vehicle loan
• Checking, savings, & IRA

I just this week moved $20k of CL from Platinum card 1 to the Flagship (both were at $25k before this week). Essentially moved it so I could transition to using the Flagship as my primary travel card and want the utilization lower even in months where my expense reimbursement comes in after the statement cuts.

My question is... While I have come to understand that Navy has a max CC exposure limit of $80k, I'd like to grab that other $5.7k without a HP.  Does anyone know if the credit line reallocation impacts the ability for SP based CLI?  I guess I'm not sure whether the "CLD" that actually occurred on that account has any impact on it, etc.  

I'm good with waiting if needed to avoid the HP. The last time I went online for a CLI it was a HP, called immediately to cancel, but was too late... 

[CreditInspired]

The thing with NFCU is that they are HP cuckoo. So just expect one whenever you decide to apply and be joyful if you end up with a SP

[Anonymous]

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@brk1971 wrote:

My NFCU account relationship is somewhat solid, but I'm looking for data points specific to a CLI after reallocating CL between existing cards. 

With NFCU, I have:

• Flagship $45k CL
• Platinum 1 $5k
• Platinum 2 $24.3K
• CLOC $15k
• Vehicle loan
• Checking, savings, & IRA

I just this week moved $20k of CL from Platinum card 1 to the Flagship (both were at $25k before this week). Essentially moved it so I could transition to using the Flagship as my primary travel card and want the utilization lower even in months where my expense reimbursement comes in after the statement cuts.

My question is... While I have come to understand that Navy has a max CC exposure limit of $80k, I'd like to grab that other $5.7k without a HP.  Does anyone know if the credit line reallocation impacts the ability for SP based CLI?  I guess I'm not sure whether the "CLD" that actually occurred on that account has any impact on it, etc.  

I'm good with waiting if needed to avoid the HP. The last time I went online for a CLI it was a HP, called immediately to cancel, but was too late... 

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I can tell you from experience here. 

Any change in credit limit, up or down, means you have to wait 180 days before your next CLI request or you will be auto declined and get a letter in the mail in around 10 days.