I recently became a member of both NFCU. I've been a member of PenFed for a few years but didn't really use my checking and savings with them. I'm trying to build a really strong relationship with each.
PenFed - In the last month, I was approved for a PenFed Power Cash Rewards (10K starting limit) and was also approved for an auto loan refinancing with them. I've already pre-paid the auto loan out to December and for the Cash Rewards, I'm making multiple payments a month, but carrying a small balance ($590).
NFCU - I was approved for a Go Rewards Card (1K starting limit), and I'm making multiple payments a month and keeping it totally paid off after each transaction.
In both cases, I want to request a CLI when the timing it right to get the highest possible CL. When makes the most sense - 90 day, 6 months, etc.? I've also heard that with NFCU that you are better served to get a 2nd card and potentially a 25K CL, once you show you can be responsible with the first. Is it best to wait 6 months to do that?
I'm currently at 678 (Eq), 700 (TU), and 699 (Exp) for Fico8. I have a few unpaid CO's that will drop off in 2 years. All else is clean - no baddies in 4+ years (except for the CO's reporting each month).
Can you give it at least a year from your youngest account before you ask?
I mean they seem pretty new. Put some time in, maybe your scores will increase by then. At that point maybe PenFed might offer you a SP CLI. It took 1.5yrs for my first offer from PenFed. My usage wasn't high, just auto insurance and utility bills each month (autopay). If you reach out to them, you'll for sure get hit with a HP from each. NFCU likes to see good DTI % when they raise limits.** YMMV
I started with a 10k Promise CC and had a pre approved offer (on the right of the acct screen) for a 4.2 cli after about 7 months or so. No credit pull was done I just had to accept the offer. My reccommendation would be to wait for that to pop up after a Penfed account review. Six months after that (so a little over a year into my banking relationship) I appd and was approved for a 15k Power Cash Rewards CC. Give it some time.
FYI on the Promise I had minimal charges and a 2k balance xfer prior to the cli so not heavy use by any means.
I joined Pen Fed and applied for a car refinace and a CC i was denined for the CC but approved for the refinace at 6% (was18%) I had also applied for refinance at DCU and was approved at 4% so i cancled the Penfed loan before signing the paperwork and left my checking with Penn fed parked at 500$ and savings with 5$ waited a year a reapplied for a card got approved for 12k ....I also have apreappoved offer for a 15k car loan and personal loan showing on the web site
As for Navy it took me a bit to get signed up but I applied for go rewards was approved for 1k had it open about 4 months now at the 6 month mark im going to apply for a 2nd card (not 100% yet) ... Now i use navy as my main banking