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Congrats i love the cl the massive cl they dish out 
Awesome! Congrats on the approval and great SL! 
Does anyone know which bureau(s) NFCU pulls or does it vary?
@Anonymous wrote:CONGRATS!!!!!!!!!!! I got my 1st Navy Federal GoRewards card about 4yrs after my BK13 was dismissed.....gave me $24K!!!! I almost have a stroke I thought it was an error. Well first I got the message that it was pending then the next day I got a text mess saying I was approved for the $24K. I called to double check because I knew it had to be an error maybe they were saying $2,400 credit limit! lol But the Rep confirmed it. Fast foward to May 2019 I applied again for the NFed Amex.....APPROVED!!! No pending message with a $25K CL! BOOM!! Navy Fed has been good to me. I have an Auto loan with them for the past 2 yrs and my scores average around 650 so they are not shy about giving out money but I think income plays a big part. My mom just got approved for their AMEX and they only gave her $10K CL but she's retired with an income of about $40k per year but credit scores in low 700's. My income is $100K per year so that does I think determine your CL.
Congrats!
Income does not determine one's CL. I know that for a fact. LOL.
ya know... A few weeks ago when I posted this thread, the moment I hit submit, I thought of you.
When I actually applied, as that little dial spun I thought, "oh ya, I am gonna get a 'Courtesy Limit' of 1K maybe 2".... Just gotta get prepped for the 91/3 approach for the Platinum
I was stunned, first thought.... that 800dude is gonna be so miffed... How the hell can this be.... 
@Morehouse3000 “… I applied again for the NFed Amex.....APPROVED!!! No pending message with a $25K CL! BOOM!! Navy Fed has been good to me. I have an Auto loan with them for the past 2 yrs and my scores average around 650 so they are not shy about giving out money but I think income plays a big part.”
@Shooting-For-800 “ … Income does not determine one's CL. I know that for a fact. LOL.”
EaglesWinLII “ … NFCU I believe takes scores, credit history, and utilization into account more than income, not saying it does not play a role, but from all the approvals and all the starting CL's, it can only make sense...”
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I found the comment “Income does not determine one’s CL” a little disconcerting. That is a gross oversimplification. Perhaps it was meant sarcastically, but I felt the need to clarify.
ALL lenders ALWAYS look at either income and/or assets because a borrower has to have the ability to repay. That is basic Personal Finance 101.
I suppose it is true that if someone was extremely wealthy and had sizeable assets they were living off of with no earned income, they could still get a credit card with a generous spending limit, but that situation would only apply to a very small fraction of the population.
In my experience, for MOST borrowers, income is a MAJOR factor in how high your credit line will go. But credit score and debt loads will ALWAYS WIN in the calculation. As my income has gone up over several decades of borrowing, lenders have been more willing to give me higher lines of credit without me asking or without much questioning. On the other hand, when my debt once became high and my scores dropped, regardless of my income, I had lenders cutting my lines of credit or closing my accounts involuntarily due to their perception of increased risk. (Fortunately, I weathered that storm and now am in great shape again.)
There are several factors that will determine how much a lender is willing to allow them to spend, whether it is on a car loan, a mortgage loan, or a credit card. Those factors include
- Credit score – your previously-demonstrated ability and willingness to repay debts on time, over time. This is foundational. If you don’t have a decent score, nothing else will matter when it comes to IF you get the loan or HOW MUCH the lender will give you.
- Income (for most people) and/or assets which demonstrate your ability to repay personally (without borrowing from daddy or whoever.) While income or assets are important, they are NOT sufficient by themselves to qualify for a line of credit, which is maybe what @Shooting-For-800 meant. A high income only HELPS to increase the credit line someone qualifies for, but that is tempered by Credit Scores, Debts, and the financial institution’s policies.
- Outstanding current Overall debt. Even if you have a great credit score and the ability to repay a loan, if your Debt-to-Income Ratio (DTI) is too high already, a lender may turn you down or give you less than you hoped for. Keep in mind that even though you may have NO credit card debt, you could get turned down by even a generous lender if you are financially over-extended on other debt such as mortgage, student loans, or car loans.
- Outstanding debt with THAT LENDER. Many financial institutions have maximum caps of how much they will lend to ANY customer in total to limit their risk. You could have the highest credit score and tremendous income yet get turned down for this reason unless maybe there were extenuating circumstances like large investment accounts with the bank to help offset the perceived risk.
- Deposits or Downpayments. For some secured loans (cars or houses) or for some riskier borrowers with lower credit (higher-risk) scores, a lender may offer a loan conditional on a certain percentage of the down payment (or a deposit, such as on a secured credit card). A deposit or down payment limits the lender’s risk. As most people know, secured credit cards usually have a very low credit line of only a few hundred dollars, perhaps $1000 tops.
Some lenders (perhaps NFCU is one of them) might be more sensitive to one factor more than others. Maybe they are more cautious with lending larger amounts to borrowers who fall below a certain threshold in calculation. But to say that they don’t consider income is far from true.
A great credit score, with a low debt load, and a high income will almost always lead to a higher credit line.
