I heard many goods about NFCU, so I decided to join them. I opened the checking and saving with them. After that, I opened the credit card with them to build the relationship. I got instant approval. I was surprised that I got the lowest APR after I applied ( 11.15 APR )
Fantastic Approval! I just nabbed a 12.49% from them yesterday, but you've gotta be tickled pink. Whatever you're doing, don't stop doing it!
@Anonymous wrote:Thanks. I'm not that surprised because I checked by Fico on Discover and the score is 810
Thats a double win! Mine is about 793 so almost 20 points lower. My battle has always been getting lower APR's. As my credit has thickened I see higher starting lines more often, but I never quite hit that super-prime APR space. But, with a 12.49%/ $23k approval, I can learn to be patient lol Congrats again!
I believe with Navy you’ll want to cross two check points before requesting a CLI. Your account must be 91 days old AND you need to have had 3 statements produced. If one of those is not satisfied you will be auto-Denied.
Once you finally get that first CLI, then it’s 6 months in between approved CLIs. You can ask for one, but you should get the “it hasn’t been 6 months yet” denial reason. I can confirm that as I had one in March, applied for another last week and they told me I had to wait for the next 6mo mark.
CLIs should be soft-pulls up to $25k, after that your chances of a hard pull significantly increase. If you submit it online and it says it’s been sent for review/24hr/3-5day notice then a HP is coming, but you can call and cancel if you’re not that committed to it. When you get an instant Yes/No (7-10 day) message online, then it was def a SP.
There’s also a huge Navy thread in the credit cards section of this site, lots of golden nuggets in there https://ficoforums.myfico.com/t5/Credit-Card-Applications/Navy-Federal-Thread-for-CLI-and-Additional... Hope this helps!
Congratulations!
@Anonymous wrote:Thank you for your additional information. I have a question ! Do you know how long do I have to wait in order to request a credit line increase ? Is it soft pull or hard pull?
Huge CONGRATS!!!
If you time it right after an AR, it's possible to get a cli without a HP.
I did this recently and got a $6000. cli without any hp. YMMV as others still got the hp but your best chance to avoid it is soon after the AR. I actually believe I left $$ on the table as I was instantly approved for what I requested.- Oh well next time.
Also in my case, I waited 6 months before asking for my first cli- I've read you have a better chance at a larger one if you wait 6 months, again YMMV.
CHEERS
