Navy Federal Credit Union Cash Rewards Credit Card

Anonymous · ‎05-15-2019

I live in Orange County CA and I app'd on 5/08/19 - I was approved for 20k.

I received several offers to apply via mail and email - I finally caved!

NFCU pulled my TransUnion Credit Report.

My TU FICO 8 Score was 690 (per the JCPenney).

My UTL was about 22% (13k balance transfer on my NFCU Go Rewards Credit Card + some other low credit card balances).

Income is 65k.

I also have a personal loan through Lending Club for 23k.

NuVisionFCU - 1k (opened 8/2012)
CapitalOne Quicksilver Rewards - CL $10,500 (opened 12/2014)
JCPenney Store CC - CL 6k (opened 12/2014)
IT - CL $13,500 (opened 10/2018)
BofA Cash Rewards - CL 5k (opened 10/2018)
NFCU - CL 25k (opened 10/2018)
PenFed Power Cash Rewards - CL 10k (opened 10/2018)
Wells Fargo Platinum Card - CL 8k (opened 3/2019)
Amex EveryDay - CL 5k (opened 3/2019)
Citi Simplicity Card - CL 3.9k (opened 3/2019)

Feel free to ask me any question!

Anonymous · ‎05-15-2019

Congratulations! Navy Federal is awesome

Anonymous · ‎05-15-2019

I agree... I'm done with new credit at this time. I'll build up what I have in my wallet now. I'm actually considering closing Citi, BofA and AMEX.

Anonymous · ‎05-15-2019

@Anonymous wrote:
I agree... I'm done with new credit at this time. I'll build up what I have in my wallet now. I'm actually considering closing Citi, BofA and AMEX.

I wouldn’t close that Amex so soon or they might claw back your SUB and you’ll owe them money.

It doesnt look like you got any awful limits, I would keep all of them until at least a year has passed so you don’t burn any bridges by triggering churner algorithms.

FinStar · ‎05-15-2019

@Anonymous wrote:
I agree... I'm done with new credit at this time. I'll build up what I have in my wallet now. I'm actually considering closing Citi, BofA and AMEX.

Citi, BoA and AmEx seem to be your most recent approvals, any reason you are considering closing those?

Anonymous · ‎05-15-2019

Thank you!

I was curious to know what the effects might be for closing those 3 - thank you!

My limits are great - thanks for the advice and added confidence.

- 9ninne

Anonymous · ‎05-15-2019

No valid reason(s)... I guess because of the new NFCU approval.

I was just trying to keep things

simple, moreover, I'm not quite confident these 3 would ever offer me and/or increase my limit to match NFCU.

FinStar · ‎05-15-2019

@Anonymous wrote:
No valid reason(s)... I guess because of the new NFCU approval.

I was just trying to keep things
simple, moreover, I'm not quite confident these 3 would ever offer me and/or increase my limit to match NFCU.

You'd be surprised. Quite honestly, since all 3 would eventually provide the capability for SP CLIs, then they stand a good chance of growing to be on par with NFCU (sans HP). Plus, AmEx has the option of 3x CLI so give things time.

Anonymous · ‎05-15-2019

Okay, I did not know - I'll keep them open!

I want to try the 3x increase with AMEX but I closed the April 2019 statement with a balance of $3,850 (limit $5k). The balance due now is $900. I'm just not sure if I messed with my chances of the CLI because of the statement closing balance.

Anonymous · ‎05-15-2019

@Anonymous wrote:
Okay, I did not know - I'll keep them open!

I want to try the 3x increase with AMEX but I closed the April 2019 statement with a balance of $3,850 (limit $5k). The balance due now is $900. I'm just not sure if I messed with my chances of the CLI because of the statement closing balance.

3 quick points:

1. Super Congrats on your Navy Fed $20,000 Cash Rewards approval!

2. I'm not sure what's more impressive: your Navy Fed approval or living in OC on $65,000/year.

3. +1 on previous advice to leave Citi, Amex and BofA open so they have time to grow.

As you know, Citi/Amex/BofA are watching how you handle all of your credit.

Getting soft pull CLIs on those cards shouldn't be a problem for you with proper

care and feeding. Just give it time and it should work out fine.

Congrats again on your approval. Thanks so much for sharing!