Navy Federal Thread for CLI and Additional Cards

[Adkins]

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@UncleB wrote:

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@shoegal wrote:

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@Anonymous wrote:
I called them back and spoke to someone in the credit department and she said I was declined for the credit limit increase. She said I would receive a letter in a few days. As I was getting off the phone with her I checked my account and my credit limit was at 3,000. I called to check my credit limit by phone and it also said 3,000.
Seems like they were worried about me opening up 4 new accounts in April. That's the only thing I can think of.


To Recap:
3 year old Nrewards that I Pced to Cash Rewards 2 weeks ago. 1,000 dollar limit.

19 May: Submitted CLI asking for 25K. Pulled EQ (733)

20 May: Sent SM and given message stating I would get notice from the lending team when they have made a decision.

21 May: Called and told I was declined while simultaneous checking account to see a 3,000 limit.

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Same thing happened to my DH, today. Same starting limit $1,000 and the CLI went to review and they gave him a $2,000 CLI with a EQ 09 of 749. Lol 

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Wow... I'm a bit surprised they didn't do any better for him. 

Is his utilization OK?  Navy seems to be a stickler for that, even more so now than in the past even.

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What UncleB said! 

[shoegal]

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@UncleB wrote:

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@shoegal wrote:

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@Anonymous wrote:
I called them back and spoke to someone in the credit department and she said I was declined for the credit limit increase. She said I would receive a letter in a few days. As I was getting off the phone with her I checked my account and my credit limit was at 3,000. I called to check my credit limit by phone and it also said 3,000.
Seems like they were worried about me opening up 4 new accounts in April. That's the only thing I can think of.


To Recap:
3 year old Nrewards that I Pced to Cash Rewards 2 weeks ago. 1,000 dollar limit.

19 May: Submitted CLI asking for 25K. Pulled EQ (733)

20 May: Sent SM and given message stating I would get notice from the lending team when they have made a decision.

21 May: Called and told I was declined while simultaneous checking account to see a 3,000 limit.

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Same thing happened to my DH, today. Same starting limit $1,000 and the CLI went to review and they gave him a $2,000 CLI with a EQ 09 of 749. Lol 

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Wow... I'm a bit surprised they didn't do any better for him. 

Is his utilization OK?  Navy seems to be a stickler for that, even more so now than in the past even.

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Me too. I have baddies and I got a $5k CLI.

His profile is good but revolving history is very new. No baddies ever, UTIL 17% and credit file is 8 years old. He just got 4 cards in February and one from PenFed last month so that could be an issue. Three cards have a balance since he's learning how to use them. His Penfed card UTIL is 26%, Discover 44%, and Amex 20% so not great either. I wish I had seen that before he asked since it was a hard pull.

[Anonymous]

Anyone experienced being declined on a cli on a 6 months old second nfcu card ?

[Brian_Earl_Spilner]

Is the consensus to wait 6 months for a CLI or second card now?

[Anonymous]

@Yehuda  It can happen.   Its usually due to high DTI/UTIL.   That would be the first place to start since its the two factors that Navy looks at the most. 

@so_broke    There are still ppl who can get a 91/3 CLI or card.  They are far and few between compared to years past.   If you have a high income and or low DTI,  its possible.    That being said, IME it's better to wait 6 months as you will have more history and likely a higher SL.  I did mine 91/3, and while i did get 4x the previous, i would say i would have had even better SL's had i waited. 

[ohjoy]

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@Brian_Earl_Spilner wrote:

Is the consensus to wait 6 months for a CLI or second card now?

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I think 6 mos for cli. I don't think you have to wait that long for a 2nd card IMO.  I just had my daughter try for a 91/3 cli on a CR card with only $500 limit on Friday. When they gave her the 24 hr review response, she went ahead and applied for 2nd card. She rec'd instant approval on 2nd card with $15K SL (her highest CL ever has only been $800).  [Data points] She had a recent 30 day late, a couple collections, her scores are in the low 600's and her salary is around $60K. 

She didn't get the cli, btw. But I'm sure that's because she needs to wait 6 mos.  Just sharing her recent experience in response to your questions.

[rbentley]

I did get a CLI at 91/3!  It was 2x my SL, which I have noticed from other posts is typical. ($3,200 SL/$6,400 CLI)  I also apped a second card at that time and was immediately approved with a SL of $15,000, which also seems to be a typical SL for second cards.

[Anonymous]

Took the 1st gut punch with a CLOC denial (Sent SM to get the denial letter reason so I can recon), and laying on the ropes awaiting 24hrs for my CLI. Hopefully I can land a good haymaker with the 2nd card if the CLI doesn't go thru. Where is The Admiral when you need a good corner man lol

[AverageJoesCredit]

I think the reason gives out such high limits ,even to those with really low scores is they know if you MF them you'll be in the doghouse so long you'll have a better chance getting off AMEX blacklist .

[UncleB]

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@AverageJoesCredit wrote:
I think the reason gives out such high limits ,even to those with really low scores is they know if you MF them you'll be in the doghouse so long you'll have a better chance getting off AMEX blacklist .

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LOL... I believe there's truth to this. 

While I've not come across a thread regarding NFCU and collections in a while, there was a time where they were said to be especially aggressive (I recall the metaphor 'junkyard dog' being used at least once). 

If given a choice, they would definitely be the last lender I would burn.