Re: Navy Federal Credit Union-Credit Card Approval

BbNulife76 · ‎10-09-2020

Hello all! This will be my first post on the forums although I've utilized the wealth of knowledge on the forum for several years. Just wanted to report some great experiences for me lately. After hearing all of the buz about NFCU & it's many benifts, I finally decided to snag a membership through my brother who was in the Army. I was set up about a week ago and kept toying with when (or if) I should apply for a credit card with them. I wanted use the new card to BT some of my old balances & hopefully snag a good intro offer. (I was just approved for the Discover It Cash back card a few days prior & didn't want to push my luck. ). Anywho, I finally got the nerve to at least call to see if I pre-qualified for any of their credit products & was told I qualified for all of them; well THAT certainly didn't make it easier. I did some extensive research and finally decided I'd apply (via NCFU's banking app) for the Amex More Rewards card; approved for $3000 SL! I was pleased with this but read on the forums that some people did a recon and their SL was increased. I decided to give it a shot and sent a message on the app (to NFCU credit dept) asking for consideration of an increase in SL to $7,000. THEN I started reading from others who said that this is a bad idea and that you should wait and just adhere to the 91/3 rule. UGH!! I kind of panicked, not knowing what would happen. Fast forward a couple days and I get a message notification from NFCU at 3:30 am. I open it and to my suprise, "Thank you for your message, Ms. xxxx. We have reviewed your recent credit card application. We are please to inform you that your recent credit request has been approved. The credit limit on your More Rewards American Express account has been increase to $16,200, effecetive immediately. If we can be of any further assistance, please let us know." These 2 credit cards alone are double my previous combined credit limits. 'Less than great' credit caused by my Paypal Credit acount starting to report to the bureaus, resulting in about a 50 point drop which spiked my utilization

Fico 8: Transunion-698; (NFCU used this score) , Equfax-669-(Discover used this one) , Experian-681. Utilization at the time of application was at 58% ! I hoping to see a significant increase in my scores as my utilization has been lowered substantially. Just wanted to share my experience.