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2nd Navy Plat APPROVAL for family member!! Navy is AWESOME!!

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2nd Navy Plat APPROVAL for family member!! Navy is AWESOME!!

Recently, I urged a family member to join NFCU. She was approved for their Platinum, $3000  with 8.99% APR. She used it for a balance transfer but was a little disappointed because the limit was a little low for her purposes.

 

All she does each month is pay off her balance gradually with small payments (a little over the minimum). She doesn't use their checking or do much else. She always pays on time but other than that she doesn't do much (unlike me, who loves, loves, loves them to death, always checking in, sending off little payments, putting in deposits, etc)!

 

So, she was told she could get a second Platinum and try for another balance transfer. It's been under four months since she got her first Platinum card.

 

This time, $12,000!!!! But with a 10.99 APR! She is OVER THE MOON! This more than covers all the money she wants to transfer, and the APR (while higher than the APR her first Navy card) is still fantastic!

 

Data points: 

  • FICO 8: 730 or thereabouts (she doesn't obsess about FICO as much as I do! LOL)
  • Income: Under $20,000. (Fixed income.)
  • No baddies, but util of about 35% or so? (Hence the balance transfer, she wants a break from all the interest payments.)
  • VERY long and perfect credit history, AAoA (25+ years). She used to have a higher FICO score but I think some recent inquiries and the util have shaved off a few points.

 

She is so excited and grateful for this opportunity! NAVY ROCKS!!!!

 

I'm a little curious as to why she got such a higher limit, but that her APR is higher than the first time around? (8.99% on her first card, compared to 10.99% on the second one). We're not complaining, because Navy is awesome, but I'm curious!

FICO8: Nov 20, 2018:
FICO8: Nov 20, 2019:
FICO8: March 20, 2020:
Goal for December 2019: FICO8 640-700 (reached! Fico 681!)
Goal for December 2020: FICO8 685-710
Overstock Store Card, $2,250Walmart Store Card, $500 limitDiscover IT Cash Back, $2000Navy Fed cashRewards, $2000Shell Citi store card, $800Navy More Rewards, $17,000AMEX Cash Magnet, $1000Citizens Bank, $2,800Amazon Prime Store Card, 1700RIP Green Dot Platinum
Overstock $5,750, Walmart $500, Discover IT Cash Back $2400, Navy Fed cashRewards $2000, Shell (Citi) Fuel Rewards $800, Navy More Rewards $17,000, AMEX Cash Magnet $1000, Citizens Bank Cash Back $2,800, Amazon Store Card $1700, (RIP Green Dot Platinum Secured)

Starting Score: 539
Current Score: 676
Goal Score: 760


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5 REPLIES 5
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Super Contributor

Re: 2nd Navy Plat APPROVAL for family member!! Navy is AWESOME!!

Congratulations to DFM approval!
Message 2 of 6
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Super Contributor

Re: 2nd Navy Plat APPROVAL for family member!! Navy is AWESOME!!

Congrats!

 

Navy seems a bit weird with APRs lately. I wouldn't really think twice about it though because she can ask for a reduction anyway once a year. 



01/2019:
03/2020:

Closed: CareCredit $10K, B&H Payboo $7500
Hover over my cards to see my limits!
Goal cards: Cash+, Freedom.
Message 3 of 6
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Frequent Contributor

Re: 2nd Navy Plat APPROVAL for family member!! Navy is AWESOME!!

Congrats!!


Message 4 of 6
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Established Contributor

Re: 2nd Navy Plat APPROVAL for family member!! Navy is AWESOME!!

Congratulations 🎉🎊🎈

CARDS: Discover It | QuickSilver One | Open Sky | Kohl’s | BB&T Spectrum Cash Rewards | NFCU CashRewards | NFCU More Rewards | OverStock
Starting Scores 05/2019: EQ:519, EX:525, TU:574
Message 5 of 6
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Established Contributor

Re: 2nd Navy Plat APPROVAL for family member!! Navy is AWESOME!!

Congrats to you and your family member, OP!

 

Question for the group - can't the family member move the limit to the first card, effectively getting $15k at 8.99% APR? Does she have to wait at least one year? Does she have to pay off the balance first?

Message 6 of 6
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