NFCU CashRewards approval - VERY low SL

[Anonymous]

After my disappointment subsided this morning, I went through my other cc's for the normal recurring bills i.e. car insurance, cell phone, internet, electric and a couple other small random expenses like netflix that total to about $500/mo. They've been kinda spread across the other cc's, so I'll just lop all them on to NFCU when I get the card. 

I was mad yesterday, but now I'm just going to accept this SL and put these monthly expenses on it and see what they say in 3 months.... 

[crys12065]

Congrats on your approval! 

I completely understand your disappointment. My first NFCU card was a $500SL. But I used it regularly and paid on time.  6 Months later I apped for an increase (didn't know I could do it at 3 months) and they only bumped me up to $1500 on the card. But a few days later I applied for a second NFCU card and was instantly approved for $15K my highest limit ever.  Now my TU report is a lot cleaner than my EQ report so that may have helped.  But history with NFCU goes a long way.  They have internal scoring system that I think they use more than the FICO though that is just my opinion.  And also from what I have read they are big on DTI.   

But the hard part is done you are in with them and my experience has been great with Navy.  I use them as my main checking account as well.  

[Anonymous]

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@Anonymous wrote:

After my disappointment subsided this morning, I went through my other cc's for the normal recurring bills i.e. car insurance, cell phone, internet, electric and a couple other small random expenses like netflix that total to about $500/mo. They've been kinda spread across the other cc's, so I'll just lop all them on to NFCU when I get the card. 

I was mad yesterday, but now I'm just going to accept this SL and put these monthly expenses on it and see what they say in 3 months.... 

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If you let $500 report on a $700 CL, you'll be at 71% UTI.  Yo FICO won't like o.

[Anonymous]

I should've elaborated.  I was going to let those few bills charge and pay each one off as they post throughout the month, so that way I'm at least showing several payments through the cycle.  Not carry a balance.

[CreditInspired]

I’m so happy at @mmccor2 you waited a day and thought about it. Putting your recurring bills on the card is an excellent plan.

When I read your first post bemoaning how others were getting large limits, my first thought was “oh no, OP is making comparisons.” I honestly think what happens is we hear all the crowing when someone hits the NFCU jackpot but we don’t hear about the every day janes and Joes who get average starting limits.

I don’t know this for a fact but I believe when NFCU sees other big limit CCs, they are worried if you’ll really use their card so they start one out with a smaller limit to see if you really will use the card over the next 3 months. Then, when they see a lot of activity, thats when they open up the floodgates—if not with a CLI, most definitely with a second card.

So again, I am so happy you had a change of heart. The fact that NFCU refinanced your car is a big whoop-de-doo. Believe us when we say at 91 days 3 statement cuts you will be a happy camper. You will have forgotten all about yesterday. And for all of us who says NFCU rocks, you will be singing the same song.

[Anonymous]

Thank you!  Yes, you hit the nail on the head.  I was fully prepared for a large SL and saw the $700 and was like womp womp.  Soooo disappointed after everything I read about the jackpot SL's for NFCU.  

But I woke up this morning, licked my wounds from being mad (lol) and went through my other cc's and wrote down the list of recurring "household" expenses like I mentioned earlier.  So for now I'll keep all my large business expenses on my other cc's and put the "household" expenses on this one and pay throughout the month when they post and and hopefully NFCU will love me in 3 months.

I'm still happy that they refi'd my car after being a member for one day though.  Cut my payment and interest rate in half.  But I'm serious when I say I hope they didn't flag my profile for being argumentative to recon yesterday.  I'm really worried!  I legit sent an apology message earlier thanking them for the car refi and that I look forward to building a strong relationship with NFCU.

What's weird is that when I was talking to the lady who refi'd my car yesterday I mentioned my low SL and she was asking me some questions like how much do I make (plenty for a low DTI), what my other limits are (high), UTIL (low) etc.  And she goes hmmmmm.... I've heard that NFCU doesn't like to see all those large limits out there not being used.  JUST like you said!

[Anonymous]

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@Anonymous wrote:

I just joined NFCU yesterday because everyone always talks about how awesome their SL are.  I got approved for a limit of $700.  That's it!  All of my other CL's are $5000-$10,000 with avg 5-10% util.  (I'm at 20% right now, not great but not terrible)  Even my Victoria's secret card CL is $5800.  I don't have any of the toy limit cards.  I was very nice to recon and they denied an increase.  I messaged recon again and they denied an increase.  They told me the "you need 3 statement cuts for reconsideration".  How am I supposed to demostrate I can and DO manage high CL's with that low CL?  I also refi'd my car with them today (instant approval, low APR) and made sure to mention that in my message.  They won't budge.  How does everyone else get these high SL's??  

Current scores:

EQ 661

TU 655

EX 666

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OP > My take on this > the keyword.. "Approved"! Congrats and give it some time then tag them again.

[SFLSpotter9210]

Congratulations on your approvals. In time it will pay off. Good luck for your bright future with NFCU 😎.