Hello everyone I am new here and been binge reading this forum for the last 2 days. All I can say is you guys are angels. I applied for a checking and savings and a cash rewards card and my sl was 9300$ I am still in shock. The rep sent me my card express because he could here the disbelief in my voice. I have never been approved for a limist so high and this is my very first secured visa. I have some questions just for clarification.
1.) with their own internal CLI would you eventually get to 25K or do I actually need to call them to do HP to get their?
2.) The rep told me today I should wait 6 months before I apply for another credit card so I can show history of me paying on time. I noticed most are asking for second card at 91/3. I went from 505 to 650 since March of 2019 so I am trying to be really smart and be strategic with my credit profile. So should ask for another card then or just be patient and wait. It would be nice to have two high limit cards.
18 accounts (cc, auto loan, self lender, mjc, auth user, student loans, repo, 3 collection accounts)
avg. credit history 10 years
my parents auth user accts that are 30 yrs old perfect pymnt history shot me up like crazy (3 total on each CR)
1) I wouldn’t really rely on auto CLIs. They’re more the unicorn than the norm. If you want to grow it, take the HP.
2) There are different trains of thoughts on this one. Realistically 3 revolving accounts and 1 open installment loan are all you need to get an 850 FICO score given enough time. If you’re in rebuilding mode, you will have your scores go up with just those 4 accounts. However, I get the appeal of going for new accounts as your scores improve (I am guilty of this myself) and if you’re not afraid of potentially wasting an HP, I would go for it at 91/3. If it’s a no, try again at 181/6. Worst case scenario you’re out an HP.
Congrats on the card and welcome to myFICO!
@Saeren Thank you so much!!! Ok I will apply for a new card in 91/3. Also for the CLI should i do that at the same time as the new card. I read someone say they denied the CLI on their rewards because they got the flagship card. Should I wait to ask for an increase at the 181/9 mark. I dont want a lot of HP I see some on here had like 30. thats insane. Im already tripping at the two I have lol. but I can do another 2 max. Also which one should i ask for platinum, flagship or amex. I was thinking flagship even though the annual fee because it has a max of 80k. That would be sweeeeeet to have that on deck.
If a CLI is important to you, ask for the CLI and let them review the request and come back with an approval or denial and then go for the new card. If you go for the new card first, you’re going to get the max they will give you all on that card at once and be denied your CLI.
I started my cashRewards at $3K in September, asked for an increase to $7500 in December and received it then asked for a Platinum the next day and got $7200 on that and my scores were not that great and I’m low income to boot so if you build that relationship with NFCU, it grows quickly.
Keep in mind that the max total exposure you’re allowed with NFCU is $80K now so if you want an $80K Flagship, that’s going to be the only card you have with them.
@saeren Your such a Gem. Now I undertand what to do. Thank you so much and clarifying the total of 80K for NFCu as a whole. Also is it better to call in my CLI/2nd card or do it online. Thank you so much. You don't know how much I appreciate your assistance!!!!
@Jago22 wrote:... I'm not sure what tiggers it, but NFCU does have an AUTO CLI turn off feature in their system. A quick call to them can have it removed if it has been turned on tho.
I just got off the phone with them & I was told the turn-off auto-CLI has to be requested, that it is not automatically set. "We want you to have more credit, so you spend more. Right?" Sounds right to me. She said my 3 cards were all good to go.
She also said at 13 months, around your review time of the month, they consider the card for an auto-cli.
Thanks everybody, DP's below:
NFCU cashRewards | Opened 03/19 | Auto-CLI was turned off rep turned it ON WOOT
NFCU Platinum | Opened 06/19 | Auto-CLI was turned off rep turned it ON WOOT
Rep stated they do a monthly SP's of your credit and will look into raising the CL on a "monthly basis"..
My DP share...
I just called and my Rep told me unless I requested my CLI to be off, it is automatically on for all new accounts. He double checked and it was on and good to go. He did confirm they do monthly SP's but auto CLI's happen at a year.
Does any one have any recent data points regarding 91/3 with a recent BK7 reporting ( less then 2 years old ) ?
You’ll likely have better luck waiting until 181/6.