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NFCU Platinum Approval

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Regular Contributor

NFCU Platinum Approval

Got approved for the NFCU Platinum card tonight! The interest rate wasn't incredible for this card (~14%), but that's way better than any of my other cards (most are >20% APR.) The real surprise was the credit line: $15K. That nearly doubles my available credit. Gonna do wonders for my utilization...

 

Some DPs: Declared BK7 10 years ago; it just fell off my TransUnion report yesterday - that's one reason I decided to apply for the card tonight. As a result my TU score jumped from 705 to 729, and of course that's what Navy pulled. It was a hard inquiry, but so far seems worth it if for no other reason than increasing my available credit.  I don't have much of a relationship with Navy; I opened a checking & savings account about 6 months ago but have hardly touched them. So I'm surprised by the generous CL, though a little disappointed that the APR wasn't lower. I mean the advertised APR is 7%, but I guess that's reserved for the 800 Club.

 

My credit history is a bit newish; oldest account showing is about 5 years old - an auto loan that I got a few years back. My DTI is 11/22, so that may explain the high (for me) CL. Other credit cards I already have - Amex BCE ($15K CL, 24% APR), Apple Card ($5K CL, 22% APR), Local CU Secured Card ($500 CL, 10% APR), and Capital One Platinum MC ($750 CL, >20% APR.) I have a utilization of about 15% across all the cards, about $2900 total. Income is about $62K.

 

The Amex card has an intro APR of 0% good for about 6 - 7 more months, but I will then happily switch most of my spending over to Navy. The APR is so much better than my other cards...

FICO8 - Aug 2020
FICO9 - Aug 2019
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29 REPLIES 29
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Super Contributor

Re: NFCU Platinum Approval

Congratulations on your approval!

Message 2 of 30
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Super Contributor

Re: NFCU Platinum Approval

@8bitmachinegun   Mark your calendar 1 year from now. Each Navy card is eligible for APR reduction on anniversary date.

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Super Contributor

Re: NFCU Platinum Approval

Message 4 of 30
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Regular Contributor

Re: NFCU Platinum Approval


@AllZero wrote:

Capital One check for upgrade link

 

For your reading pleasure. Navy Federal Thread for CLI and Additional Cards


Thanks for the Cap1 link. It didn't improve my CL or APR, but did get me upgraded to a Quicksilver. Looks like the main benefit is a 1.5% cash back.

FICO8 - Aug 2020
FICO9 - Aug 2019
Message 5 of 30
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Super Contributor

Re: NFCU Platinum Approval


@8bitmachinegun wrote:

@AllZero wrote:

Capital One check for upgrade link

 

For your reading pleasure. Navy Federal Thread for CLI and Additional Cards


Thanks for the Cap1 link. It didn't improve my CL or APR, but did get me upgraded to a Quicksilver. Looks like the main benefit is a 1.5% cash back.


Fantastic! Better to get rewards than no rewards.

Message 6 of 30
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Member

Re: NFCU Platinum Approval

Darn you beat me too it!!!

 

Congrats on the approval and go Navy!

Message 7 of 30
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Established Contributor

Re: NFCU Platinum Approval

Congrats on your bombad SL!
- | - Mee'sa not'ta Jar'Jar Bink'sa. Mee'sa just like'sa the word'sa BOMBAD! - | -


BK7 Discharged 12/16 - | - EQ8/9: 696/730 | TU8: 738 | EX8: 733
Message 8 of 30
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Epic Contributor

Re: NFCU Platinum Approval

Congrats!!!

popcorn eating emoticon.gif

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Epic Contributor

Re: NFCU Platinum Approval

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