NFCU / Amex questions

[gingerflower]

@Saeren I can't  remember one of the members name who at one time I asked for an advice  regarding Nfcu Cloc I believe it was Creditaddict who said ask for the full $15,000 which I did and was given the full $15,000 I guess it depends on ones credit profile. Maybe Nfcu has changed their Criteria on their Cloc

[Anonymous]

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@gingerflower wrote:

@Saeren I can't  remember one of the members name who at one time I asked for an advice  regarding Nfcu Cloc I believe it was Creditaddict who said ask for the full $15,000 which I did and was given the full $15,000 I guess it depends on ones credit profile. Maybe Nfcu has changed their Criteria on their Cloc

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I literally just went over this the other day lol. 

https://ficoforums.myfico.com/t5/Personal-Finance/CLOC-From-NAVYFED/m-p/5938679/highlight/true#M1727...

[gingerflower]

@Saeren well there you go good information for Chandler455 . 

[Anonymous]

If I applied that would blow my no inq since november on my eq , also if I was approved would that screw with my "maximum exposure" when apping for the 2nd card also, I don't know what to ask for I wish they would counter Max requests :/. I also know it's not gonna blow potential amex down the line because they pull ex

[AverageJoesCredit]

Applying for a Navy Cloc  will always  be YMMV and counters are not always given. I was not. Navy has changed quite alot since Credit Addict started these threads. Think about ones current profile and income when deciding on how much to ask for.

[AceTen]

Hi Chandler,

Welcome and congrats on all the positive steps you've taken. Other posters have made great suggestions about your credit cards so I have nothing to add there. 

I noticed the part of your post that mentioned the high interest car loan. I have also lurked around this site a long time and have read many posts about people refinancing auto loans with NFCU for very low rates. I wanted to put that suggestion out there just in case it's comething that could save you money at some point if you wanted to refi. 

As far as Navy goes, I am a banking customer thanks to this wonderful site and have been very pleased with their customer service. However, I am in the minority here as far as my Amex opinions and not a big fan of their business practices. I may get tarred and feather for saying this but I would suggest Navy credit cards over Amex as Navy is more likely to have your back if times get tough and your utilization gets high wheras Amex is more likely to promptly lower your limits and the hammer if you run into some emergencies. Also, Navy Federal is a non profit so they can offer lower rates and benfits that other banks can't. Good luck to you!

[Anonymous]

I'm at 22% now nfcu rates run up to 17.9 percent I'm not really wanting to obliterate an account off my age of a year for a potential savings of 4 percent monthly, appreciate the suggestion

[CreditInspired]

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@gingerflower wrote:

@Chandler455 I would seriously  apply for the Cloc since you have your deposits  and other finances with Nfcu. Ask for the full $15,000 Nfcu will counter offer if you don't  get the full $15,000. Good Luck and welcome to the forums!

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I disagree with applying for the CLOC. There's no grace period, no rewards, no nothing. I have had mine for over a year and have never used it once. I only got it because of a job loss and knock-on-wood, never had to use it. 

OP, I suggest waiting until your youngest account is 12 mos and then apply for the NFCU AmX. GL2U

[Anonymous]

Reasoning for the cloc is for my business I buy sell and trade video games toys records etc, and id like to have it available in the event a large lot of inventory comes up for purchase, that I could sell quickly and not worry hugely about the interest, that is my interest in the cloc. I know I know business and personal loans but I'd love to have the ability to either write a check or go to the branch any time I need it and pull the cash. 

Also amex isn't about having an Amex network card I just think it's a good idea to have my credit spread over multiple lenders not just consolidated and amex does carry a prestige, also as I said with all the dps of people with marginal profiles getting approved for high limits on the 2nd card at 91/3 the temptation will be hard to resist being blatantly honest

Now in response to the poster above, Citi is that bank for me, I have had a best buy card at a thousand dollar limit since April not a sniff of an increase and even a decline after I was told by an agent to apply around such and such a date, and won't extend me any more credit period, I think the best buy hps are utterly rediculous imho, I have usual spend on it, never maxed have run it up a couple of times to 80% don't carry outrageous balances on it always pay way more than the minimum, they claim it's that 6.5 year old student loan late on my profile, even crappy credit one gave me a soft pull increase, I really have no more interest with Citi especially with having navy in my corner. Capital one bucket cards will be getting the axe also if I don't get at least a modest increase on my qs1 here April 8th when eligible as I use that card with heavy spend and pay in full every month

Trust me I'm aware of my position and I'm at a teetering point the next moves I make will determine how my score will go up or stay put, and I know I'm close from being in really good territory if i just stay patient and garden the lines I do have

As a side note my TU vantage is garbage compared to fico 8 like 40 point difference, most likely all the inquiries on TU

[Anonymous]

Got prequals for Delta gold and Hilton surpass / ascend....must resist lol