Unable to get CLIs from Navy, Help

[Anonymous]

I don't know what I am doing wrong but can't get any CLI's from Navy. I have been carrying a balance on my cards for the past year so maybe I need to pay them completely off and leave at zero for several months before I get a CLI. Not sure what to do...any thoughts?

[gdale6]

Hi there OP. I have created your own thread on this subject as it wasn't appropriate in the thread that you posted it in. You are free to edit the title if you wish. Thanks for your understanding on this and have a great day.

[coldfusion]

Are you making substantial payments toward the balance each month or are you typically paying the mininum or close to the mininum (say maybe 2x the mininum?

If you routinely carry a large balance and make smallish payments you are fulfilling the terms of the agreement but that will impact how they view you as a risk and make it more difficult to get CLIs.

[Anonymous]

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@Anonymous wrote:

I don't know what I am doing wrong but can't get any CLI's from Navy. I have been carrying a balance on my cards for the past year so maybe I need to pay them completely off and leave at zero for several months before I get a CLI. Not sure what to do...any thoughts?

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You're going to need to provide more info.   Like what is your credit scores, what are your current limits with Navy and what are your balances on your other cards that you have, etc before anyone can give you any good advise

[Heatt99]

@coldfusion 

100% agree.

I too am carrying balances on both my Navy cards, but still get CLIs.

I always pay at least 3x the minimum, and try to keep the balance below 70%.

Try sending out a reconsideration for a 2nd review.

GL

[FinStar]

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@Anonymous wrote:

I don't know what I am doing wrong but can't get any CLI's from Navy. I have been carrying a balance on my cards for the past year so maybe I need to pay them completely off and leave at zero for several months before I get a CLI. Not sure what to do...any thoughts?

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@Anonymous - What has NFCU stated in their letters when declined for the CLIs?  Also, is that the same reason they've cited each time a CLI request is declined?

[Anonymous]

@FinStar 

The letters say I am at their Max that they feel comfortable lending me. I have 2 cards 

Amex at $10,000

Platinum at $15,000

but I've requested CLI's and declined each time. No lates, recently purchased a home about 10 months ago. 13 other active credit cards and about $70,000 in open credit card accounts. I've been told by Discover that I have too many credit cards was their reason for denial on a recent CLI request. Average age of credit 6 years

[Anonymous]

What kind of balances do you have on those other cards? If your other cards are carrying significant balances too, that's your answer. They aren't going to extend more unless you show that you can pay off what you have already. As generous as Navy can be, they have their risk mitigation as well.

[AverageJoesCredit]

Maybe adding a new home coupled with your balances has affected the way they view your dti?

[Anonymous]

^^^ good point. Navy is known to be concerned with DTI.