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When to apply to get higher Starting Limits?

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When to apply to get higher Starting Limits?

Been rebuilding for about 2 years. Until last month my highest limit was $300 after a year of gardening. Then I got approved for the following:

15k NFCU
1k PenFed
1k Petal
1k Discover IT Graduation

None of these show on my reports yet. Right now $200 Discover, $300 Cap1, $250 PayPal Credit, and $200 OpenSky are showing. 3% util. 720 EQ score.

The last thing I’d like to do before gardening for another year is to finance a computer for work and avoid putting it on the NFCU. Is there a chance in hell of getting $2k-$3k with someplace like Best Buy or Amazon with my current $200-$300 limits? Maybe if I wait until Discover reports my 1k limit on the 2nd?

OR I could wait until NFCU and all my other new cards report... But then I’m worried about my AAoA taking a huge hit and being denied for too many new accounts.

What are your guys thoughts? Thanks!
Message 1 of 26
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Senior Contributor

Re: When to apply to get higher Starting Limits?

If I were you, I wouldn't apply for anymore card. You will probably get more toy limit card $1k and under. Navy Federal is not the norm. Let your accounts age at least 6-12 months and ask for soft pull credit limit incrase while you garden. It should yield higher SL when you apply again.

 

If you want to finance a computer, you can split payment between your PenFed, Petal, or Disco IT cards. Then balance transfer it to your NFCU card for the 1.99% BT with zero BT fee. That's what I would do if I was in your situation. 

 

Also close your OpenSky card before the next AF and get your $200 deposit back. Smiley Very Happy 

Currently: Gardening since 12/19




Message 2 of 26
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Re: When to apply to get higher Starting Limits?

Thank you for the thoughtful reply. If my best/only option is to put it on the NFCU then I’ll pry just pass on the purchase for now. I am so grateful for them extending me that credit line I am being overly cautious/paranoid about how much of a balance I carry on it right out the gate.
Message 3 of 26
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Re: When to apply to get higher Starting Limits?


@PerArduaAdAstra wrote:
Thank you for the thoughtful reply. If my best/only option is to put it on the NFCU then I’ll pry just pass on the purchase for now. I am so grateful for them extending me that credit line I am being overly cautious/paranoid about how much of a balance I carry on it right out the gate.

This isn't really necessary. NFCU is not issuing limits and expecting that you won't put them to use. Obviously still be responsible for the sake of your credit but they aren't known for CLDs or other AA. There are members who have maxed their cards out for months at a time and NFCU doesn't care as long as they are getting paid on time every month. $3K on a $15K limit is not going to raise any eyebrows. 



01/2019:
03/2020:

Closed: CareCredit $10K, B&H Payboo $7500
Hover over my cards to see my limits!
Goal cards: Cash+, Freedom.
Message 4 of 26
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Senior Contributor

Re: When to apply to get higher Starting Limits?


@PerArduaAdAstra wrote:
Thank you for the thoughtful reply. If my best/only option is to put it on the NFCU then I’ll pry just pass on the purchase for now. I am so grateful for them extending me that credit line I am being overly cautious/paranoid about how much of a balance I carry on it right out the gate.

You don't have to be paranoid with Navy Fed. You are free to use the NFCU Flagship card. You will have to pay interest on it if you carry a balance. Didn't you sign up for the $500 SUB for $4k spend in the first 3 months?

Currently: Gardening since 12/19




Message 5 of 26
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Re: When to apply to get higher Starting Limits?


@Steve891 wrote:

@PerArduaAdAstra wrote:
Thank you for the thoughtful reply. If my best/only option is to put it on the NFCU then I’ll pry just pass on the purchase for now. I am so grateful for them extending me that credit line I am being overly cautious/paranoid about how much of a balance I carry on it right out the gate.

You don't have to be paranoid with Navy Fed. You are free to use the NFCU Flagship card. You will have to pay interest on it if you carry a balance. Didn't you sign up for the $500 SUB for $4k spend in the first 3 months?


Good catch. I had to go look at OP's history to see it was the Flagship. 

Definitely would not let $500 go to waste. Even if the card was approved at the maximum 18%, $3000 paid off $275 a month for 12 months would still be a net profit of about $200 on the SUB. 



01/2019:
03/2020:

Closed: CareCredit $10K, B&H Payboo $7500
Hover over my cards to see my limits!
Goal cards: Cash+, Freedom.
Message 6 of 26
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Re: When to apply to get higher Starting Limits?

Thanks for the replies guys. I’m not totally afraid to use it, just carrying too much of a balance. Let’s just say I already met the SUB Smiley Happy I also like having a huge chunk of that line available for any serious emergency. I haven’t been able to have peace of mind like that for over 10 years.

So it would be nice if I could get 18 months with 0% at Best Buy, but I can wait a little longer if not Smiley Happy

Message 7 of 26
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Re: When to apply to get higher Starting Limits?

I would give it 3-6 months. Once you have established history with your large limit card, you should be able to get approved for larger limits than your other cards. NFCU is a gateway card for many of us. When my NFCU Plat went to $12,700, Disco bumped me to $12,700 a few months later. Now I have also gotten a $10K SavorOne and $10K CareCredit and with $18K income and a BK still on file... yep, don't think it would have happened if it wasn't for NFCU. 



01/2019:
03/2020:

Closed: CareCredit $10K, B&H Payboo $7500
Hover over my cards to see my limits!
Goal cards: Cash+, Freedom.
Message 8 of 26
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Senior Contributor

Re: When to apply to get higher Starting Limits?

Message 9 of 26
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Established Contributor

Re: When to apply to get higher Starting Limits?

Dell as the above poster noted is good.  The Sync Amazon store card is excellent and reports are it grows regularly.  If you show there, that makes sense. 

 

If you do go through Dell, combine it with TopCashback as you will get a nice bit of cash back that way.  It even works with a Dell biz account.




Rebuilding from a sudden, swift and complete credit disaster in early 2014 | Starting Scores 2017 = Very Low 400's
8-1-18 -
12-24-18 -
12-1-19 -

Biz Credit in Order of Approval - Uline, Quill, Grainger, SupplyWorks, MSC, Amsterdam, FuelMan .8K, Citi Tractor Supply Rev .8k, Builder Pro 5.4K, Amazon Net 55 $5.5k, NewEgg Net 30 10k, Richelieu 2k, Wurth Supply 2k, Global Ind 2k, Sam's Club Store 11.k, Shell Fleet 19.5k, Citi Exxon 2.5k, Dell Biz Revolving $15k - All No PG | AMEX Biz Gold NPSL
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