NFCU approval... Happy but ehh.

[Anonymous]

So I finally pulled the trigger on NFCU credit card after reading all the crazy post on here about the super high approvals even with lates, collections, etc. I thought since I dont have any with somewhat of a higher income I would get a crazy approval too. Not to mention I had a offer online for the AMEX More Rewards so I said why not since they offered it. I was instantly approved for 5k but with 18%..was hoping for a little bit more with a lower APR but ill still take it since my foot is in the door lol. I also saw alot of post about the CLOC so I said why not tried for 15k and was denied..

DTI-15%

Annual income-94k

1 paid of closed CC (never late)

2 recent store credit cards 5k each (both within past 6 months)

No derogs

TU-658 5inqs(pulled for CC) aaoa- 1y,11m

EQ-722 7inqs (pulled for CLOC) aaoa 1y,11m

EX-639 6 inqs (didnt pull at all) aaoa 2y, 6m

I guess my question is should I recon both, just the CC for a higher limit, or leave both as is? If so what should I say? 

Sidenote- I also saw post about the 91/3 rule. So I will wait till then to ask for an increase and another CC and possibly try the CLOC again.

[Anonymous]

What are those 18 inquiries for?

Considering they hit you with an 18% APR and your TU score is very low and usually indicative of some serious problems, I would just do the 91/3 and let them get to know you. 

Congrats on the card!

[RickNATL]

I would app for a CLI increase online, but I would call in and have the conversation.  Sometimes that's all it takes...just have good narrative such as a comparable card with the limit you want, or utilization exposure/concerns, etc....

[Anonymous]

Saeren- the 18inqs are from various 11 of them are from OCT 2017 when I got my car. Others are for 1 denied card & 6 from the 2 retail cards. My low score is from my 9 late student loan payments (my equifax doesn’t have it on there hence the 722) but I’m sure that’s the reason for the lower score and higher apr. THANKS!!
RickNATL- I didn’t want another hit so I decided not to app for the increase. I did call tho, they asked me to send a email regarding a recon with a higher limit so I did if that doesn’t work I’m just going to wait 🤷🏾‍♂️ I’ll update if it happens.

[pinkandgrey]

Congrats! From what I hear, Navy is pretty generous. After a little time with them, they’ll probably give you massive CLIs. 

[AverageJoesCredit]

Congrats Just curious as to what you would do with the cloc?. To me, and im an outlier, i really dont see much use for it besides utilization buffer etc. For me it just eats into any more exposure you may want. Dont get me wrong, its nice to have, but i would rather concentrate on their cc's

[Anonymous]

pinkandgrey- Thank you! Thats I what I was hoping for seeing as tho I been getting my file almost perfect for them since October lol but I hopefully in a few months when I do my CLI its massive!

AverageJoesCredit- Nothing I would do right now in this moment but its good for a utilization buffer like you said. You think I should just focus on their CC's? I see you a super contributer you have any good cards to recommend I get instead of the CLOC, based off my scores I listed?

[AverageJoesCredit]

Well, dont dismiss the Cloc if its something you would like. You could still and try recon but i wouldnt hold out too much hope . Remember Navy is hp eccentric. I think you did great for your first card. Sure its not 25k, but it surely can be soon. Most of Navys cards have same underwriting with exception of FS,which needs 5k to start. Make sure the cards work for your spend.

Ive noticed there are minimum cash redemptions on one card thats like 50 bucks and can only be redeemed in 50 redemptions. Thats too steep for me lol. But if you follow the normal route, 91/3 and second card app, youll do just fine

[19eighty5]

Congratulations!

[AverageJoesCredit]

You might consider trying Penfed too though im hesitant to recommend them to anyone as they are all over the place on approvals. What you have going for you is high income and not too much credit. Your Eq is good enough for Pf too. Best of luck