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Foot in the door with NFCU

Chandler455
Frequent Contributor

Re: Foot in the door with NFCU

Don't get too bummed almost everyone on first card gets a little limit, look at me 

 

I started with $500 go rewards 12/19

given 15k on a platinum on 3/17/20

cli from 500 to 1500 4/20 

In September/October some time I was granted cli to 4500 on the first card and 18k on the second card 

 

navy grows quickly

 

Personal
NFCU platinum 18k | Best Buy visa 10k | NFCU Cashrewards 4.5k | discover it 3.7k | kohls 3k | target 800

Business
Costco visa 10k | Amex Amazon prime 9k

Ficos TU 745 EQ 796 EX 793
Message 21 of 34
Barreda88
Valued Member

Re: Foot in the door with NFCU


@Chandler455 wrote:

Don't get too bummed almost everyone on first card gets a little limit, look at me 

 

I started with $500 go rewards 12/19

given 15k on a platinum on 3/17/20

cli from 500 to 1500 4/20 

In September/October some time I was granted cli to 4500 on the first card and 18k on the second card 

 

navy grows quickly

 




@Chandler455 I'll be ok! Just glad to be in the door with them! I did send a message for recon on the SL and sent over POI and bank statements. Hopefully I get something, if not, it'll be alright!  

 

Message 22 of 34
Wile
Regular Contributor

Re: Foot in the door with NFCU


@Barreda88 wrote: I did send a message for recon on the SL and sent over POI and bank statements. Hopefully I get something, if not, it'll be alright!  
Its very unusual and not norm at all for NFCU to request for POI and/or bank statements for SL/CLI even if someone is self-employed..Very strange...Seems like your application bumped to a rowdy underwriter...Otherwise, I have seen people having less than 500 scores and bankruptcy, too many late payments and collections, yet still they were able to get $25k in one shot....Very unpredictable NFCU is...

 

Message 23 of 34
Barreda88
Valued Member

Re: Foot in the door with NFCU

@Wile 

 

Sorry I didn't explain well. They didn't request POI or statements. I just decided to send it to them to reinforce that I can handle a higher SL that's all. Have over 100k in savings and also sent POI just in case. I figured the more info I send, the more likely an underwriter will approve an increase. I'm fine with the 1k starting line as I know it'll grow, but if I can send them this info to get a higher one, then by all means. I really only sent it to them to flex and get a higher line 😬

Message 24 of 34
MyFault
Valued Contributor

Re: Foot in the door with NFCU

Congrats on your approval!




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Message 25 of 34
Barreda88
Valued Member

Re: Foot in the door with NFCU

@MyFault 

 

Thank you! 

Message 26 of 34
Wile
Regular Contributor

Re: Foot in the door with NFCU


@Barreda88 wrote:

@Wile 

 

Sorry I didn't explain well. They didn't request POI or statements. I just decided to send it to them to reinforce that I can handle a higher SL that's all. Have over 100k in savings and also sent POI just in case. I figured the more info I send, the more likely an underwriter will approve an increase. I'm fine with the 1k starting line as I know it'll grow, but if I can send them this info to get a higher one, then by all means. I really only sent it to them to flex and get a higher line lol 

 

Yes I've also seen other posts about lower scores getting crazy SL's from NFCU. This is why I was completely caught off guard by a 1k limit. I understand my TU FICO9 is low 700's, but I've seen people with low 600's get 20k. Totally wasn't expecting a 1k line that's all. Hopefully they come through for me. If not, oh well!


Most of the time NFCU does raise the credit limit upon reconsideration...and to a crazy one...I have a family member who applied for CashReward card with NFCU last month....She was given $5k SL...She wrote to NFCU to increase her SL, and within a day they increased her limit to $25k...Its very strange and we will never know how NFCU works....If you have not recently opened too many accounts or do not have too many inquiries...then I believe you do have a good chance to get raise. Wish you all the luck. Let us know how it goes..

Message 27 of 34
Barreda88
Valued Member

Re: Foot in the door with NFCU


@Wile wrote:

@Barreda88 wrote:

@Wile 

 

Sorry I didn't explain well. They didn't request POI or statements. I just decided to send it to them to reinforce that I can handle a higher SL that's all. Have over 100k in savings and also sent POI just in case. I figured the more info I send, the more likely an underwriter will approve an increase. I'm fine with the 1k starting line as I know it'll grow, but if I can send them this info to get a higher one, then by all means. I really only sent it to them to flex and get a higher line lol 

 

Yes I've also seen other posts about lower scores getting crazy SL's from NFCU. This is why I was completely caught off guard by a 1k limit. I understand my TU FICO9 is low 700's, but I've seen people with low 600's get 20k. Totally wasn't expecting a 1k line that's all. Hopefully they come through for me. If not, oh well!


Most of the time NFCU does raise the credit limit upon reconsideration...and to a crazy one...I have a family member who applied for CashReward card with NFCU last month....She was given $5k SL...She wrote to NFCU to increase her SL, and within a day they increased her limit to $25k...Its very strange and we will never know how NFCU works....If you have not recently opened too many accounts or do not have too many inquiries...then I believe you do have a good chance to get raise. Wish you all the luck. Let us know how it goes..


@Wile 

 

Well, that didn't work out like I wanted it to. Do not get me wrong, I'm happy to be in with NFCU, but I have $300 In CC usage reporting currently out of $18,500 CL total, so it didn't make much sense. It's all good though. 😞

 

 

Message 28 of 34
Wile
Regular Contributor

Re: Foot in the door with NFCU


@Barreda88 wrote:

@Wile wrote:

@Barreda88 wrote:

@Wile 

 

Sorry I didn't explain well. They didn't request POI or statements. I just decided to send it to them to reinforce that I can handle a higher SL that's all. Have over 100k in savings and also sent POI just in case. I figured the more info I send, the more likely an underwriter will approve an increase. I'm fine with the 1k starting line as I know it'll grow, but if I can send them this info to get a higher one, then by all means. I really only sent it to them to flex and get a higher line lol 

 

Yes I've also seen other posts about lower scores getting crazy SL's from NFCU. This is why I was completely caught off guard by a 1k limit. I understand my TU FICO9 is low 700's, but I've seen people with low 600's get 20k. Totally wasn't expecting a 1k line that's all. Hopefully they come through for me. If not, oh well!


Most of the time NFCU does raise the credit limit upon reconsideration...and to a crazy one...I have a family member who applied for CashReward card with NFCU last month....She was given $5k SL...She wrote to NFCU to increase her SL, and within a day they increased her limit to $25k...Its very strange and we will never know how NFCU works....If you have not recently opened too many accounts or do not have too many inquiries...then I believe you do have a good chance to get raise. Wish you all the luck. Let us know how it goes..


@Wile 

 

Well, that didn't work out like I wanted it to 😞 Do not get me wrong, I'm happy to be in with NFCU, but to get a 1k SL with a 700+ FICO and more than sufficient income, recon apparently didn't work. I was told 1k is the max given my income and credit but it makes no sense. I have $300 In CC usage reporting currently out of $18,500 CL total. I've read of people with much much lower scores getting 20k with instant approvals or recon and I get the shaft. It's whatever I guess I'll just hang in there until I hit 91/3. Just doesn't make any sense tbh. Provided them with a statement from my bank with over 100k in savings, Decent FICO scores and plenty of income and still no cigar! 😞

 

 


It doesn't matter to most lenders as to how much money one has in their account when it comes to making a decision on granting credit because they go with their underwriting criteria than money/assets in the accounts of some individual. However, if one needs to show how much s/he has invested in a particular institution then the right way to proceed is- go to local branch of that bank and speak to a personal banker and let them apply for you. In that case you will get approval 99% of the time. You can also open a brokerage account and apply a credit card thru a banker from local branch or email a banker in the bank...Then it would be manual review and the chances are very very high, trust me. Just parking money in an account won't work nor assume they will do FBI kinda investigation to know what assets do you have with them. If you have this much money in the account with them then you should have contacted a banker (not customer service representative). Every bank would love to do a business with you with this kind of money showing up at front. Trust me on this.

 

Nevertheless, don't be disappointed...It's sad that NFCU didn't budge but as you already know that they are very unpredictable but we still love them because you will eventually get what you want from them...It's just a matter of time...And if you do some research on this site and other sites including watching so many YouTubes then you will find that most people (99% of them) who had $1k as SL, they ended up getting full $25k upon CLI after 91 days later and/or on a second card...So, some people get there earlier while other gets there later....Honestly, NFCU is a very unique and strange institution...More I think about it, more I get confused. I literally know a homeless man in NYC who were handed out $25k on a silver platter by NFCU...No kidding, yes a homeless man..but on the other hand I have a friend who has a very thick profile, high income, no baddies...aged accounts...no debt...no new accounts and no new recent inquiries, he got only $1500....so do the math...Very strange and totally unpredicatable...No datapoint work in their case..But one thing is for sure about NFCU is that you will get all the credit with them sooner or later...There is no any fuss about it...So, chill out and enjoy meantime. So long you are in, you are all set. Take care and good luck....

Message 29 of 34
Barreda88
Valued Member

Re: Foot in the door with NFCU

@Wile 

 

True. I honestly thought that sending the statements and POI would show that I have the income I provided on the app. Me sending the statements was more like me hoping they would see that I can and have been managing my money and debts. Especially because I told them that I went to eventually transfer my funds to them. The CU I bank with is awesome. They have high dividends and great benefits, but not a single revolving line to offer. Only loans, CD's and such. So I mainly do my DD there and have a personal loan with them. I'm not mad at not getting a CLI, cus I know they grow. I'll have all my funds transferred to them soon and I'll be officially a checking, savings and CC member. 

 I also had a bad day and the decline on the CLI didn't help to be honest. I'm definitely glad to just be in with them. You're absolutely right. 

Message 30 of 34
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