Hey all,
This post is a follow-up to my posts from yesterday regarding getting a 3rd NFCU CC. Here's a link to one of those posts:
https://ficoforums.myfico.com/t5/Credit-Cards/Needing-Advice-From-NFCU-Members/td-p/6051409 .
First, I want to thank everyone who responded to my post(s). While opinions varied, I appreciated all of the input. I looked at each response & weighed the pros & cons. Maybe I'm just inpatient. I want to share my actions, the reasoning behind my actions & the end result. I began my "credit building relationship" with NFCU on 11/04/2019 by opening a $500 secured nRewards CC. My Ch7 BK (which was the result of unexpected & enormous medical bills, NOT financial mismanagement) was discharged end of January, 2019. In hindsight, I should have opened the secured nRewards CC sooner after my BK discharge instead of waiting over 9 months. That's my "reasoning" for app'ing for my 3rd NFCU CC today. I could have waited & likely gotten a higher starting CL as my scores increase but now I have 3 NFCU CC's that can grow with me. I AM OFFICIALLY GARDENING for the next 24 months with the only exception being requests for CLI's every 6 months.
So, today I did 2 things. I app'd for a NFCU Platinum Visa & I also requested a CLI on my cashRewards Visa Signature that was opened on 02/28/2020. The decision on my app for the Platinum CC was immediate. It could have been better but it could also have been much worse. I was approved instantly for a Platinum Visa with a starting CL of $3,500 @ 8.99%. I'm completely ok with that. It will grow over time. As for the CLI request on my cashRewards Visa Signature (CL was $11k), I didn't want to ask for a ridiculous amount that I knew would not be approved. I asked for an increase to $15k. Within 15 minutes, my acct reflected a CLI of $2,500 to $13,500. The new Platinum CC was a hard pull on Transunion only & the CLI on the Visa Signature was a soft pull on Equifax. So, with one hard pull on Transunion, today I gained $6,000 in additional available credit. I don't plan to use that credit but it will help to keep my aggregate utilization low & is there if I need it during these uncertain times.
What I really want to convey to people who have been through a BK or are rebuilding for other reasons; set your sights on what you want to achieve, be reasonable, be grateful & don't fear app'ing for credit if you believe there may be a chance it will be approved. I went from a $500 secured CC with NFCU in November of 2019 to having 3 unsecured NFCU CC's today with a total combined CL of $21,500. That amount may not seem like very much to many people here on the forum but I'm very happy with where I'm at with NFCU & how well they have treated me.
Sorry this post was so long. It's impossible for me to stop once I get going. LOL! Wishing everyone a GREAT & SAFE remainder of the weekend!!!
Congratulations on your approval and CLI!
Congratulations on your approvals and CLI 🍾🎉🎊🎈 Thank you for sharing your DP and successes with Navy.
Thanks @AllZero . It was a shot in the dark but I'm content with the result. Now I don't want to think about CC's of any kind for a long, long time.
Thanks @EverForward (& you're welcome). I know my posts are loooong but I try to include as much detail as possible for anyone reading them.
