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Been reading this forum for awhile and it's one of the reasons I discovered that I was eligible to join NFCU through my father. Joined a few weeks ago and after waiting awhile to get my acceptance package, just threw 50.00 into a checking and savings accounts to get started. My question is, I checked my offers on the web site and it says I was pre selected for a cash rewards card. I heard about very high limits but not sure if I should apply. My scores across the board are 719 TU 720 EQ and 722 Ex. My only concern is I have High utilization , around 60% because I used to have very high limits on a bunch of cards and when the financial crisis hit, all my cards cut my limits to what I owed at the time. So I went from like 25/30% to almost 95% overnight. Been getting it lowered over time. Not really needing a another card but the stories of the cl they give has me curious. Any thoughts would be appreciated. Thank you
Your util is high. I don't know if NFCU will care but I don't think I would app until it came down some but that is just my .02.
@99lawdog99 wrote:Been reading this forum for awhile and it's one of the reasons I discovered that I was eligible to join NFCU through my father. Joined a few weeks ago and after waiting awhile to get my acceptance package, just threw 50.00 into a checking and savings accounts to get started. My question is, I checked my offers on the web site and it says I was pre selected for a cash rewards card. I heard about very high limits but not sure if I should apply. My scores across the board are 719 TU 720 EQ and 722 Ex. My only concern is I have High utilization , around 60% because I used to have very high limits on a bunch of cards and when the financial crisis hit, all my cards cut my limits to what I owed at the time. So I went from like 25/30% to almost 95% overnight. Been getting it lowered over time. Not really needing a another card but the stories of the cl they give has me curious. Any thoughts would be appreciated. Thank you
You have good scores and with a great company. However with the 95% Utilization I would hold off until you bring it down some. Then I would say you would be approved hands down with no problem.
No my utilization is 60%. It was around 95% years ago when the credit crisis hit because they lowered all my limits to what I owed. I had accounts that I never used with 20,000.00 limits that were just shut down for no reason. If I had a limit of 5000.00 but owed 500.00, the CL was lowered to 500.00 which caused my UTL to jump. Thanks for the replies, I appreciate each one as to your thoughts.
@99lawdog99 wrote:No my utilization is 60%. It was around 95% years ago when the credit crisis hit because they lowered all my limits to what I owed. I had accounts that I never used with 20,000.00 limits that were just shut down for no reason. If I had a limit of 5000.00 but owed 500.00, the CL was lowered to 500.00 which caused my UTL to jump. Thanks for the replies, I appreciate each one as to your thoughts.
Still to high IMO get it down a litle more for best results
I would shoot for 30% UTIL
Thanks. It's around $150,000. I'll probably not go for it now. I'll wait. The last card I got was from Cabellas a few months ago and they gave me 5000.00 at 9.9 simply because I wanted to by a Kayak.