Navy Federal Thread for CLI and Additional Cards

[Anonymous]

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@Anonymous wrote:

@Anonymous

~SIDEBAR~

real brief ...jus curious why you closed those Chase CC's

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I didn't close those Chase Accounts, they did (no lates ever, paid in full more often then not if not always).  They said I had too much available credit in December of 2014.  I have since moved my business banking away from them as it wasn't benefiting me.  

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

@Anonymous

~SIDEBAR~

real brief ...jus curious why you closed those Chase CC's

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I didn't close those Chase Accounts, they did (no lates ever, paid in full more often then not if not always).  They said I had too much available credit in December of 2014.  I have since moved my business banking away from them as it wasn't benefiting me.  

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WoW... didn't see that coming??? Hope this doesn't happen to me...thks for info... really strange tactic wonder what triggers it...I mean most people have way more credit than they need,ya know

[odjohnson3]

Does the same apply for the Checking line of credit? When I first applied I was denied for a credit card....3 months later I was approved for $500 Line of Credit but I never applied for another credit card....I wanna get my utilization down before reapplying. Is the CLI guide the same for the checking line of credit?

[Creditaddict]

No because it's always a hp

[creditbaaby]

Quick question everyone. I opened my secured card 07/13 after being denied for gorewards. I know after 3 months I should try to reapp for unsecured, but, should I also app for CLOC and go for full amount? What are my chances?!

[Creditaddict]

I'd just start with cloc at $500 request and cli later after month or two.

[Anonymous]

Two questions, please:

Are most people applying for the CLOC primarily as a utilization buffer, or do you plan to use the CLOC?

I was approved for both CLOC and Cash Rewards, and am happy about that. I'm not sure I will actually use the CLOC as the Navy interest rate is much higher than PLOCs I have with other credit unions.

Also, is it required to use the CLOC to keep it active? Thank you.

[Creditaddict]

Doesn't seem to need to be used to keep active

[Anonymous]

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I noticed that grayarea37 indicated that he had three of the Card Rewards cards, am I reading that correctly?

NFCU allows multiples of the same card?  I love cash back (funny what a difference a year makes) not a big fan of other rewards.

I didn't follow the Creditaddict guidance of opening a second card shortly after the first (I was ecstatic and shocked just to get the first, I seriously doubt I would have gotten a second anyway) I did follow the CLI advice and at 90 days my CL went from 1k to 25k.

Wasn't thinking of applying for anything until January (1 yr from 7 Disc and 6 months from last credit app).

In this scenario when do you think would be the best time to apply for another NF card? 

[morgacj2004]

I have never used mine. For emergencies only! And by that I don't mean a weekend trip to Vegas!