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In October, I applied for Penfed membership, open saving account and didnt approved for their credit card stated because BK7 (3,5 years ago), even with reconsideration NO go. Today, I decided to call NFCU to apply membership and open saving account with them , the rep ask me if I want to apply for one of their credit cards and I said sure and she transfer me to credit department, Wallaahhhh.... INSTANT approval for $1000 SL!!! I know it is very small limit but I heard it can grow nicely. I am just so happy that Im in with NAVY family.
I am planning to use the card 7% about $70 a month and request CLI at 91+ days and after 3 statements cut.
I have question for Navy experts out there . I read NAVY AR usually in January, March, May, June, etc.
My 91+ days will be around April 20ish. Should I request CLI after AR in March or better wait until AR in May for SP CLI time frame? Please please advice!
Data points: they pulled TU670ish, i believe my limit small because recent accounts open in past 6 months - 3 CC's (July, Aug and Oct)) and Util accross the cards 39% due the holiday season balance in December, INQ only 3 (now 4) and 3 lates 90/60/60 from BK.
Congrats. Welcome to NFCU. Yes the card can grow very quickly.. Use it wisely and Navy will take care of you. Navy does AR on accounts monthly. Almost every bank / credit union does. 91+ days is good, just make sure your 3rd statement has been cut tho.
Thank you @ scott2696 for the advice.
@Anonymous wrote:Congrats. Welcome to NFCU. Yes the card can grow very quickly.. Use it wisely and Navy will take care of you. Navy does AR on accounts monthly. Almost every bank / credit union does. 91+ days is good, just make sure your 3rd statement has been cut tho.
I just read our famous "Navy Federal Thread for CLI 500+ pages" that 91+ days and 3 statements cut seem not reliable anymore recently since a lot of members didnt get approved for CLI but get aprroved for apply 2nd Card with huge limit! Any advice guys? I dont want wasted 1 HP for decline CLI and another HP for 2nd card. Thanks
@AverageJoesCredit wrote:
You have done absolutely amazing job only 3.5 years post bk7
Congrats on getting in Navy and your card. We know things are changing. Most of us have gotten the cli after 90/3 but like you said, may not this year plus i think you need to go alittle more cautious with the bk7 still showing and for awhile.
My advice, perhaps incorrect, would be perhaps try for either a cli or a second card after 6 months. This just to establish more history with them and perhaps will get more. If not you can try previous methos and risk the hps, they really arent the end of the world and in my opinion are worth the risk.
Thank you @AverageJoesCredit....
I will keep follow "Navy Thread" and see how it goes after NFCU AR in May and pay attention from other members posting and data points.
Like you said maybe wait for 6 months to establish more history with them is great idea. Once again thank you so much
Congrats!