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When is the right time to request CLI from PenFed and NFCU?

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New Contributor

When is the right time to request CLI from PenFed and NFCU?

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). 

15 REPLIES 15
Frequent Contributor

Re: When is the right time to request CLI from PenFed and NFCU?

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

 

Good Luck!






RIP: EECU PLOC | BBVA PLOC | Chase SP | Chase Amazon | Chase Freedom | WF Propel | Cap1 QS | AMEX Gold
Message 2 of 16
New Contributor

Re: When is the right time to request CLI from PenFed and NFCU?

Most certainly. I’m not in a rush by any means. I wasn’t sure if there is a sweet spot or better time, much like the timing Amex does with 3x CLI. My goal is to build a great relationship with them both and them want to offer me a larger credit line or PLOC.
Message 3 of 16
New Contributor

Re: When is the right time to request CLI from PenFed and NFCU?

You mentioned DTI%. Are there other key indicators that each of them really indexes on specifically?
Message 4 of 16
Senior Contributor

Re: When is the right time to request CLI from PenFed and NFCU?

Penfed:

Your scores a little low. They like clean profiles. You should consider addressing you charge offs if they are updating monthly unless you can wait for it to removed from your credit report.

However, PenFed does value your relationship and it shows with the $10k SL.

I don't have a recommendation for CLI. I'd just wait for soft pull offers as mentioned up thread.

I think you have a chance at approval for a 2nd card if that is something you desire.
Message 5 of 16
Senior Contributor

Re: When is the right time to request CLI from PenFed and NFCU?

Navy:

CLI, I would recommend waiting 6 months considering your starting limit.

2nd card, you're eligible 91 days 3 statements from 1st card approval. Maybe 6 month wait time would be good here too.

In general, if you want to improve your odds of approval, better APR and starting limits, look into cleaning up your report
Message 6 of 16
Regular Contributor

Re: When is the right time to request CLI from PenFed and NFCU?

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.




Starting scores: 5/15 - EQ: 546 | TU: 580 | EX: 554
Current scores: 2/19 - EQ: 754 | TU: 750 | EX: 746
Message 7 of 16
Community Leader
Mega Contributor

Re: When is the right time to request CLI from PenFed and NFCU?

Solar Eclipse🌞☺️
#ChaseCreditCardHobby Enthusiast
2022
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Message 8 of 16
New Contributor

Re: When is the right time to request CLI from PenFed and NFCU?

Makes sense. I’m pretty happy with the starting limit on the PenFed card (10K).

I’d really like to build the limit of the NFCU card. Was really surprised they started me so low (especially since PenFed did not).
Message 9 of 16
Frequent Contributor

Re: When is the right time to request CLI from PenFed and NFCU?

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 

 

 




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Message 10 of 16
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