When to apply for credit

[Anonymous]

I just became a member of Nfcu. When should I apply for credit? And what amount should I apply for? Can I and should I apply for a line of credit and personal loan?

[fltireguy]

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@Anonymous wrote:
I just became a member of Nfcu. When should I apply for credit? And what amount should I apply for? Can I and should I apply for a line of credit and personal loan?

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Apply Now. I would try for a CashRewards Visa or MC... and a CLOC. Ask for $15k on the LOC..

[Anonymous]

OK please explain what a CLOC is?

[Anonymous]

And by the way I appreciate your help

[jbb27885]

What are your scores like?

[Creditwiser]

CLOC is a Line of Credit.  Typically with NFCU you always ask for max 15k. If approved, you'll receive that limit or whatever they counter-offer you based on your credit profile.  

[Creditwiser]

BTW OP, welcome to the Navy family. 

[Anonymous]

Thanks

[Anonymous]

Trans union 650

[Anonymous]

I will just say that for the me, personally, I haven't had any luck with Navy "countering" my offer. I applied for the Navy CLOC after I was approved for the cashRewards credit card for $10,100 and they denied the application for the full $15,000 CLOC. I tried to ask for a counter amount and they told me I'd have to put in a new application, I did and they hit me with another hard inquiry but this time to another bureau than the one they originally pulled (first time was EQ and second time was TU). I wasn't happy about that but I got the amount I asked for although I lowballed the amount because I was worried I would be denied again. I guess what I'm getting at is YMMV so just be aware that Navy doesn't always come back with a counter amount. Just my two cents.