Congratulations!
Wooooo!! Congrats on the increase!!!
Wholly jump Batman... congrats on the increase!!
@Aim_High wrote:SL: $10,000
... CLI: $8,000
... New CL: $18,000
Background: I got my Platinum card on 11/18/2019 with a $10K SL and the lowest APR which was 7.49% at the time. I had no other NFCU credit cards or loans and had only had banking accounts with them for about 30 days. (And my banking accounts had been idle.) The $10K SL was low for my profile, but I had hopes to work it higher. They were offering a 0% BT with no-fee, so I balance-transferred $9800 from other cards even though I didn't really need it. I paid it off slowly over three months to build payment history. I know about NFCU's 91/3 rule but decided I should wait longer. I suspected several new accounts last fall might be holding back my SL or CLI. My plan was to wait for six months before applying for CLI. After the first of the year, when some of our members began reporting SP CLI's and after recent in-app approvals when even outside normal approval parameters, I decided to apply in-app. Approved, $8,000 increase to $18,000! It took about 26 hours and began showing up as "credit available" even though my previous credit limit is still in the credit limit block.
Not a bad increase, and I know it will continue to rise with Navy. However, Navy is proving to be much more of a "relationship" bank than I expected. Either that or they are put-off by my high total credit lines available, even though I have high income. My total debt-to-income is fairly low.
For data points, my approval was at 4 statement cuts and 136 days after paying off the $9,800 BT. I've also increased the balances and usage of my banking accounts. My next plan is to consider a mortgage refinance with them also. Rates are great right now.
Congratulations on your increase,I would agree the limit
is a little low for your profile. Glad they rectified that.
I'm betting you get it up to 50K in a year :-)
Enjoy your success @Aim_High
Cheers
@AllZero wrote:
Congratulations on your CLI!
- - - - - - - - - - - - - -
@Anonymous wrote:
Congrats!
- - - - - - - - - - - - - -
@EverForward wrote:
Congratulations, thank you for the insight and DP!
- - - - - - - - - - - - - -
@M_Smart007 wrote:
Congrats!
- - - - - - - - - - - - - -
@19eighty5 wrote:
Congratulations on your CLI approval!
- - - - - - - - - - - - - -
@newfossil wrote:
Congratulations!
- - - - - - - - - - - - - -
@Mv350 wrote:
Wooooo!! Congrats on the increase!!!
- - - - - - - - - - - - - -
@Cred4All wrote:
Wholly jump Batman... congrats on the increase!!
- - - - - - - - - - - - - -
@Anonymous wrote:
Congratulations on your CLI! 👍
- - - - - - - - - - - - - -
@AverageJoesCredit wrote:
Congrats @Aim_High keep aiming high✈
- - - - - - - - - - - - - -
Thanks, Guys!
As always, I appreciate the community support!
@nuohlac wrote:
@Anonymous wrote:
@nuohlac wrote:
@Anonymous wrote:It seems like Navy doesn't like doing huge increases at once. $6K-$8K seem to be pretty common.
The largest I have seen was 15K and I did that back in late November of this year. I went from 25K to 40K in a single CLI request. I feel like I left money on the table too. I asked for 40K and they gave it to me the next morning.
Yeah but how much spend and how long have you been a member? These are things that matter with them.
I have been a NavyFed member since 2003; they are my HUB when it comes to my banking (so they do see the amount of money that comes in and out monthly). I pay car insuance and cell phone bills on my Flagship $428 a month. I spend nothing on my CashRewards card and always save it for the annual BT promo if I need it.
I've been reading about Navy FCU on the forums for a long time and I'm still learning how they work. I had seen relatively "new" members getting relatively "large" CLIs on newer cards, but I'm realizing those were on smaller starting limits so that average maximum of $6K-$8K looked like a bigger percentage. For larger SLs and for members like myself without internal NFCU history, I shouldn't have expected a full 2x - 3x the SL on first increase on my card #1. I was hoping it would go to $25K to $30K. Instead, they didn't even double it but I got a much higher SL than many people get with them.
I know when I apply for a second card with them, I will probably get the higher limit I'm hoping for and I know over time that if I put some effort into relationship that the Platinum will grow further. As I said though, I'm seeing now that Navy FCU is much more a "relationship" lender than many of us give them credit for. @nuohlac's experience is a great example. Long-time member and using them for primary banking and they will do flips for you. New member even with high income and high credit score like me and they are a little standoff-ish until you grow the relationship. New member with low scores and/or income or baddies and they give you a break more than many national lenders, albeit with smaller SLs. So there isn't a "one size fits all" description of what to expect.
@UH_HUH wrote:Congratulations on your increase,I would agree the limit
is a little low for your profile. Glad they rectified that.
I'm betting you get it up to 50K in a year :-)
Enjoy your success @Aim_High
Cheers
Thanks! My plan isn't really the 50K on this card but the Platinum Visa with very-low APR was the card I wanted most from them. I want a great-rate card to keep more for emergencies. If I can get it to $25K to $40K that will be more than enough. I know their maximum exposure is normally $50K per card or $80K total, and I'd like to get to the $80K total. I don't really need a $50K limit for emergencies. On the other hand, a $50K limit on the Flagship coupled with $30K on Platinum might be nice. 
While their cards mostly duplicate the coverage I have with other cards, the Flagship is a good solid card with a great SUB and the AMEX More Rewards seems a very good card also.