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Hey!
I just joined Navy Fed a couple weeks ago and finally made my first deposit into my savings and checking accounts. $50 each, total 95 (minus 5 for membership fee or whatever it is).
I set up direct deposit through my employer and it was supposed to go in tomorrow for the first time. Well, i got my paystub, and it isnt going in for another two weeks. I have been waiting to apply for a NFCU Credit Card until the direct deposit went through, in hopes of convincing them I had constant income. I also wanted to apply before the end of the month to take advantage of their 0% BT for my capitol one card.
I decided to call in and tell NFCU what happened, and tell them I wanted to apply anyways. I applied for the Flagship Signature Visa Card because I noticed it would be a $5000 minimum credit line, which would be my highest limit yet, by about $3500. Sure it has an annual fee, etc. but again, the 5k was what i was shooting for. During the application I was waiting for super nice associate as always to ask me what limit I was applying for,....THat question never came so I was a little worried.
She submitted the application on the phone and about two minutes later she said.....CONGRATULATIONS, YOU HAVE BEEN APPROVED FOR THE FLAGSHIP CARD WITH A STARTING LIMIT OF $12,500!!!! I played it cool on the phone, but in my head I was going crazy. 11.?? APR + prime (not exactly sure what that means but ill look into it).
Im a big "believe it when i see it" kind of guy, so I will be looking at my accounts and waiting til i see the card in the mail with that limit, but if true, I am very estatic about this siutation!
Ps. Has anyone had this happen, and then they reverse their decision or change the limit or anything weird??? I would be so bummed.
I also asked her if they report the limit, and she said they do.
SHOULD I APPLY FOR THE LINE OF CREDIT "LOAN" WHILE I AM AT IT, OR WAIT???
THANK YOU
Large credit limits are notoriously their thing. I don't think you should worry about it disappearing.
CONGRATS!!!!
How is their LOC set up?? I'm with PSECU and have their combo Visa/LOC combined limit of 12,000. Do they combine your CC limit and LOC or are they separate?
The LOC reports as a separate CC.
From what I understand, the LOC is a separate line of credit and you sign documents similar to a personal loan. It is in case you write a check for $2000 when your checking account only has a balance of $1000, the remaining $1000 will be taken off your LOC and your check will go through. It reports to the credit bureuas as well thats why I am interested in it. It is also another hard inquiry. ANywhere from 500-10,000.
Could be off on that info, but i believe it is similar to that.
Thats awesome!! Congratulations!!
THANK YOU SO MUCH! I am hoping once my scores improve, this will give me some leverage into applying for a CHASE Prime card or two
@dddfresh wrote:Hey!
I just joined Navy Fed a couple weeks ago and finally made my first deposit into my savings and checking accounts. $50 each, total 95 (minus 5 for membership fee or whatever it is).
I set up direct deposit through my employer and it was supposed to go in tomorrow for the first time. Well, i got my paystub, and it isnt going in for another two weeks. I have been waiting to apply for a NFCU Credit Card until the direct deposit went through, in hopes of convincing them I had constant income. I also wanted to apply before the end of the month to take advantage of their 0% BT for my capitol one card.
I decided to call in and tell NFCU what happened, and tell them I wanted to apply anyways. I applied for the Flagship Signature Visa Card because I noticed it would be a $5000 minimum credit line, which would be my highest limit yet, by about $3500. Sure it has an annual fee, etc. but again, the 5k was what i was shooting for. During the application I was waiting for super nice associate as always to ask me what limit I was applying for,....THat question never came so I was a little worried.
She submitted the application on the phone and about two minutes later she said.....CONGRATULATIONS, YOU HAVE BEEN APPROVED FOR THE FLAGSHIP CARD WITH A STARTING LIMIT OF $12,500!!!! I played it cool on the phone, but in my head I was going crazy. 11.?? APR + prime (not exactly sure what that means but ill look into it).
Im a big "believe it when i see it" kind of guy, so I will be looking at my accounts and waiting til i see the card in the mail with that limit, but if true, I am very estatic about this siutation!
Congrats man--knew you wouldn't be able to wait long! They're a little more cautious with the Navchek, but if you don't have any baddies you should be golden.
P.S. - Navchek is 15k max.
It was so hard to wait haha. Is NavCheck/LOC worth it?