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NFCU CLI BK7 timeline?

Bankrupt2019
Established Contributor

NFCU CLI BK7 timeline?

So I have my navy secured card which was a $200 limit that has since unsecured to $2000. 


Based on what I've read, with a bankruptcy on record 1 year old is maximum $1000 approval and after 2 years you're judged by normal lending criteria. 

So......my question is, does this mean at the 6 month mark from my card unsecuring that I won't be eligible for a CLI as I'm already over the $1000 for the 1 year post DC or does that limit only apply to new approvals and not CLI on existing accounts? 

I don't dare apply for my second card until I hit the 2 year mark if that's the case.

 

Im currently 10 month post discharge.    

 









Message 1 of 5
4 REPLIES 4
Anonymous
Not applicable

Re: NFCU CLI BK7 timeline?

I wasn't aware that there is a set in stone limit. As long as it's still a SP, which seems likely, just ask for the CLI. Navy can really surprise you at times. 

Message 2 of 5
coreyb80
Valued Contributor

Re: NFCU CLI BK7 timeline?

You can request a CLI every 6 months.  I'm currently in 13 and I have the Cash Rewards card and I received a small increase back in July.  I'll go for a larger one in January, which is my 6 month mark.

Message 3 of 5
Panda800
Regular Contributor

Re: NFCU CLI BK7 timeline?

I had success with a second card about 15 months post bk, started at $12,500 and is now at $18,500 limit. My first card started out $300 secured and is now at $6500. My bk just turned 2 years old this month. So I would give the cli a try at least but would probably wait for a second card a little while more.



NFCU Cash Rewards $18,500
Penfed Gold $10,000
NFCU More Rewards Amex $6,500
Discover $1,800
Merrick DYL $1,400
BBVA Clear Points $1,000
NFCU CLOC $500
Message 4 of 5
Bankrupt2019
Established Contributor

Re: NFCU CLI BK7 timeline?


@Panda800 wrote:

I had success with a second card about 15 months post bk, started at $12,500 and is now at $18,500 limit. My first card started out $300 secured and is now at $6500. My bk just turned 2 years old this month. So I would give the cli a try at least but would probably wait for a second card a little while more.


Thank you, this is what I was looking for. I think I'll try for a CLI at the 6 month mark and if they grant me that, a couple months later I'll try for a second card.









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