About 6 months ago, I applied the first US Credit card at USAA. I was approved Preferred Cash Reward Visa with $500 limit. And a few days ago, I did online chat with USAA rep because I wanted to request CLI. I got offer $1500 CLI so now my credit limit for this card is $2000. I know it's still so low but I'm glad I got CLI.
This morning I applied NFCU Cash Reward credit card online and I got an instant approval. The limit is $13000 with APR 15.40%. I was surprised! I have only 6 month credit history and I just opened NFCU membership saving account (for $5) a few days ago.
Before I request CLI at USAA, my Equifax was 684. But now my Equifax is 678 because of USAA inquiry for CLI.
Before I applied NFCU membership, my TransUnion was 698. But now my TransUnion is 684 because of NFCU inquiry for membership.
I know I will get another inquiry for NFCU CC application. However, I received $13000 credit limit so I really hope my credit score will be fine!
Major Congrats!!! I me some USAA!!!
The $13,000 credit limit will allow you to have more debt reporting without a negative effect on your score.
Now if you have $1,100 of debt report you will still be using less than 9% of your credit line.
I do not advocate carrying Credit Card debt, but now letting a small balance report will not kill your scores.