2 new CCs with higher CLs...wait until they hit or app before?

[nitrov]

So, my USAA FAKOs are currently 749/722/739 for EX/EQ/TU, respectively. I have reason to believe my actual EQ FICO is significantly lower, maybe 670, while my EX and TU are both over 720. I just got approved for a NFCU Flagship Signature Visa with a $20k limit, they pulled TU for me (twice). I have no other lending relationship with them currently. This is now my highest CL. I also just got approved for a Chase IHG MC with a $9000 CL (2nd highest CL). Aside from these, I have about $40k of available CLs, util is about 20%, AAoA is about 3.5 years.

My question is, should I wait until the new NFCU and Chase cards hit my credit to app for the HELOC with NFCU in hopes the available credit bump will help my credit OR do I do it before since the new accounts might give me a ding. The inquiries are already on my credit, so I know that ship has sailed. 

I was told by an NFCU rep that they pull all 3 CBs for a HELOC. Anybody know if that's true? If so, I'm afraid EQ might mess it up for me.

Any tips, insights, or experiences with them on HELOCS or HE loans would be greatly appreciated! 

[coldnmn]

Congrats on the cards! Sorry can't help with your questions. Thanks for sharing.

[BluePoodle]

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@nitrov wrote:

So, my USAA FAKOs are currently 749/722/739 for EX/EQ/TU, respectively. I have reason to believe my actual EQ FICO is significantly lower, maybe 670, while my EX and TU are both over 720. I just got approved for a NFCU Flagship Signature Visa with a $20k limit, they pulled TU for me (twice). I have no other lending relationship with them currently. This is now my highest CL. I also just got approved for a Chase IHG MC with a $9000 CL (2nd highest CL). Aside from these, I have about $40k of available CLs, util is about 20%, AAoA is about 3.5 years.

My question is, should I wait until the new NFCU and Chase cards hit my credit to app for the HELOC with NFCU in hopes the available credit bump will help my credit OR do I do it before since the new accounts might give me a ding. The inquiries are already on my credit, so I know that ship has sailed. 

I was told by an NFCU rep that they pull all 3 CBs for a HELOC. Anybody know if that's true? If so, I'm afraid EQ might mess it up for me.

Any tips, insights, or experiences with them on HELOCS or HE loans would be greatly appreciated! 

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Do you know if the HP's they already did would mean you would not need another HP for your loan? You mentioned all three, but if they have already pulled TU twice I would ask why they need to pull it a 3rd time. If it would save you a HP, I would do it now. Otherwise once they report your util would go down and that would help. 

[alvon123]

congrats

[Creditaddict]

I would think since it would go more on your 70 or 80% home value whatever they go off of that would play into more and since all your scores are over 720 I would lean towards the 2 new accounts making your score dip in the short term vs go up so I would apply now.

[Tony275]

Congrats on those huge limits!

[nitrov]

They told me it would have to be another HP since they pull all 3 simultaneously.

I'm concerned with EQ and my score there. I'm just not sure if the new accounts are going to ding me for being new accounts or if the big bump in available credit/decrease in util is going to boost my score more than the new accounts would hurt it.

Unfortunately I'm not in that 70-80% LTV space, I'm more in the 85-95% space depending how they value my house. I'm not necessarily afraid they won't approve me based on my credit, but "good" credit is in the 7% interest rate range while "very good" is closer to 4.5%. That's a huge difference right off bat. If they're going to approve me based on the home value, that's definitely not going to go down between now and the time my credit changes, but my credit is what I'm scared of.

[-Wade-]

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@nitrov wrote:

So, my USAA FAKOs are currently 749/722/739 for EX/EQ/TU, respectively. I have reason to believe my actual EQ FICO is significantly lower, maybe 670, while my EX and TU are both over 720. I just got approved for a NFCU Flagship Signature Visa with a $20k limit, they pulled TU for me (twice). I have no other lending relationship with them currently. This is now my highest CL. I also just got approved for a Chase IHG MC with a $9000 CL (2nd highest CL). Aside from these, I have about $40k of available CLs, util is about 20%, AAoA is about 3.5 years.

My question is, should I wait until the new NFCU and Chase cards hit my credit to app for the HELOC with NFCU in hopes the available credit bump will help my credit OR do I do it before since the new accounts might give me a ding. The inquiries are already on my credit, so I know that ship has sailed. 

I was told by an NFCU rep that they pull all 3 CBs for a HELOC. Anybody know if that's true? If so, I'm afraid EQ might mess it up for me.

Any tips, insights, or experiences with them on HELOCS or HE loans would be greatly appreciated! 

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Congrats on  your 2 new cards

[nitrov]

Just got my denial letter from my USAA CLI request saying my EQ FICO was a 648. I don't understand. Chase pulled EQ and EX and gave me $9000, how could my EQ possibly be 648? I wanted to request a CLI through Cap One EO since they're now my lowest CLs, but I'm afraid they won't even give it to me based on a 648. USAA FAKO says EQ is a 722. My CU also pulled EQ and they denied me for a CLI as well.

Now I wonder if NFCU would even approve a HELOC based on a 648 EQ score. I can only hope the 2 new large limits will boost my score and not hurt it

[s_haliz]

Congrats!!!!