@M_Smart007 wrote:
@AllZero wrote:
@Girlzilla88 wrote:Good Luck keep us posted!!! What's the Taboo for Flagship?!
" Minimum starting limit is $5,000. If one does that meet the lending criteria, it'll be a denial."
Yep, I have seen a few!
And I will add: Navy has a reputation on the forums for being easy and loose. While that is true, it comes with some caveats that are often not well understood before people jump in and apply. They are more forgiving and will approve profiles that are weaker or more flawed sooner than some major lenders. They also can be very generous and give higher credit lines than some applicants would qualify for with other banks. (Navy FCU's high credit limits sometimes confuse people because they say "Well, Navy gave me "x" amount, so why won't <insert other national lender name>.")
But here are the caveats. Navy likes to get to know you so if you establish membership, quickly open new accounts, and immediately apply for credit, you might be unpleasantly surprised at how little they will offer initially, even with high credit scores, high income, or thick files. So usually you will get a better limit on cards (#2) or (#3), or after keeping banking accounts and/or loans open for awhile (like OP did) before applying for credit. The small intial credit limit on card (#1) will usually grow well over time. So applying for the Flagship Rewards on card (#1) as a brand new member combined with the $5K minimum SL can yield mixed results.
Also, Navy loosens the reins a little more slowly than some other lenders. Sure, they allow total exposure of up to $80K over up to 3 cards, but that takes a little time even with an exceptional profile. So if you get a denial of part (or all) of a requested CLI, and they respond with "You've reached Navy Federal's maximum unsecured credit limit," that doesn't always mean how it sounds. As with most lenders, it may mean that you're reached the limit of what they will ever give you based on current income, debt, credit score, or other factors. But it also may be tempered by the length of membership or the amount of activity with Navy products.
