I can't even express in words how happy I am. I just recently cancelled another card, because I knew there was no reason for me to get such a low SL. A few people said, "Be content, be grateful, take what you get and smile, there must be a reason your SL was so low, your 800 fico score doesn't mean anything, it's based on each companies own algorithm, blah blah blah".
However, None of that resonated with me. I know my credit and what I'm worth and cancelled that card. So after lurking the Credit Card Approval thread, I thought "why not me"? It seems like the Navy Fed high SL bus is moving along quite swiftly, So I decided to jump on board. WELL, HERE I AM!!!!!!!!!! YAY!!!!!!!!!!!!!!!!!!!!!!!!!
Thanks to all of you who post kept posting your approvals. The world is full of great possibilities. We are proof of that.
P.S. Also, even though I never carry a balance, I still want a low-interest rate that reflects my credit, and I got it! 12.99%
Congrats on the approval. I'm curious though, your credit scores that you posted a few weeks ago were almost 800. How didn't you get the lowest rate? Your scores would appear to be well into the top tier APR range.You would think navy would give the lowest APR with a 800 score but i have a 808 score and they approved me for 12.9% a couple months ago. I was sooooooooooo MADDDDDDDDDDDDDDDDDDD. I still haven't use the card because of it.Chase and Citi gave me their lowest APR. I to be honest never have good luck with credit unions with APR LOL
Thanks for sharing. That's good to know. I can relate because that's how I felt with the card I just closed. The interest rate was 17.99% and the SL was embarassing for anyone above a 650 fico score. So I closed it. But At least with Navy Fed the interest rate is closer to the low end and the SL is good. Having said that, I called Navy Fed and they said I can request it from inside my portal. I'm not bent out of shape over this. But I'm still going to look into it. If nothing else, I'll wait for 12 months, like someone suggested, and then address the issue.
People don't understand when you usually get the lowest rate offered, then all in sudden you feel like someone is smiting you, its not a good feeling. I get it...
Seeing that $25K SL must have been jaw-dropping for you! Super awesome limit and congrats!!!
Yes, you are right! I was nervous. I hoped I wouldn't regret my decision to apply. After I saw the approval and the amount, I had a smile on my face for about 2 hours. I'm smiling again actually, just thinking about it again.
Navy is one case that it doesnt really matter if one has 800's or 600's , they will give out 25 limits to those who qualify economically meaning usually a high income and low dti. As you can see , you did get an outstanding sl but you didnt get the absolute lowest rate ( that will come in a year when you request a lower apr rate). Sometimes when people offer advice, sometimes they may know a thing or 2 even financial wizards dont.
I was asking because of the recent thread "What score is good enough?" where I still believe 760 is good enough to qualify for the lowest APRs. Since their scores are very high, I'm wondering if closing out the card that the OP was originally approved for somehow affected the internal score with NFCU, therefore not the best APR.
My score is around 680 currently and I got approved for 25K. So you can definitely get approved with a score lower than 760.