Navy Approval $25k

[LawStudentCivilis]

Well, this is certainly my highest SL to date.  I finally just impulsively applied for a Navy CC, and was approved for a $25,000 SL at 5.99 APR for the platinum card.

I only have a Navy savings account that I opened back in October, and no other products.  Had I known that they liked my profile I would have more than likely bypassed PenFed (still a fan of PenFed).  Although I don't think I would have been approved at this level if I applied when I joined.

My Equifax report is frozen.  TU is my lowest score across the board:

TU8 733

TU9 714

 No derogs

Hope these datapoints are useful for someone!

ETA: My apologies I definitely should send a big thank you to this forum for the wealth of advice and knowledge.  I would have never known about Navy (or PenFed for that matter) had it not been for all the wonderful information that can be found here.  So thank you for contributing greatly to the success of many!

[coreyb80]

Congrats on the nice approval!

[AverageJoesCredit]

So, a hard pull was worth it?

Penfed and Navy are like apples and oranges, no comparison.  🍎🍊🙂

[Ficoproblems247]

Seriously, Navy is just a whole different beast than anyone else. That is so awesome, congrats on your MONSTER SL and tiny little APR! Nicely done! 

[Anonymous]

Congrats on your approval and awesome SL!

Was this your first Credit line with NFCU?

[LawStudentCivilis]

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@AverageJoesCredit wrote:

So, a hard pull was worth it?

Penfed and Navy are like apples and oranges, no comparison.  🍎🍊🙂

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Ha yes Joe, of course it was worth the hp.  I am always mindful no matter my profile or score I am not entitled to credit from any creditor.  So at the time of joining Navy, no I would not have joined if it was a hp just to join alone. 

[LawStudentCivilis]

@Ficoproblems247Yes, I am seeing that for myself! Apples to Oranges as AverageJoe put it.  PenFed denied a CLI attempt although I worked to get my EQ9 up 25 points in 6 months from time of approval.

@AnonymousYes, this is my first credit card with Navy. I only had a savings account before approval.

[Anonymous]

@LawStudentCivilis  I appreciate the info! I just opened a Checking/Savings with them a few weeks ago in hopes of getting in a better position for a CL with them next year. Looks like a little history prior to apping paid off for a higher for SL on the first card.

[LawStudentCivilis]

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@Anonymous wrote:

@LawStudentCivilis  I appreciate the info! I just opened a Checking/Savings with them a few weeks ago in hopes of getting in a better position for a CL with them next year. Looks like a little history prior to apping paid off for a higher for SL on the first card.

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I agree, I think your strategy may pay off in the long run.  Especially since my TU9 is not impressive.  I assume Navy is similar to PenFed, they are more than likely more concerned with DTI.  Good luck! 

[gdale6]

Wow a big approval and the lowest APR, grats on getting it