NFCU Flagship -- Time to Pull the Trigger?

[CreditInspired]

I think as Saeren suggested, you should only ask for a 3X CLI. I also suggest this based on your recent car note, a lower salary, and secured CCs. IMHO, a $25K request ATM is a huge jump and may possibly end up in a denial.

[Anonymous]

Thanks for all the comments. Here's an alternative. I could go ahead with a business CC app. I just got confirmation of my new LLC registration. My real credit goal here is to get some cash flow for my business. And I may have a better chance at a decent CL. Would a Navy business CC show up on both business and personal reports?

[Anonymous]

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@AverageJoesCredit wrote:
My TU is a Navy hp graveyard🌚🥴

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Did you think you were playing Battleship?

From what I've read teh BIZ side of Navy isn't as well regarded as the Personal, so you might want to think this out first.

And possibly look at otther Banks for a BIZ relationship.

[Anonymous]

Yes, but I don't think I could get the Chase Business Ink with my new credit and no Chase relationship. And I have hope the Navy Business would give me the CL to get my new business going - despite lack of rewards. My Regions Bank rep said they wouldn't do anything for business credit for 1 year. My low current CL, new credit, and new revolvers seem to have me boxed in. I trust Navy. I can still try to get going with Chase later.

[FinStar]

@Anonymous, for any business-related questions or topics, especially regarding NFCU, you may want to research the Business side of the forums (i.e. search feature) or post your particular NFCU biz question there.

[Anonymous]

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@Anonymous wrote:
Yes, but I don't think I could get the Chase Business Ink with my new credit and no Chase relationship. And I have hope the Navy Business would give me the CL to get my new business going - despite lack of rewards. My Regions Bank rep said they wouldn't do anything for business credit for 1 year. My low current CL, new credit, and new revolvers seem to have me boxed in. I trust Navy. I can still try to get going with Chase later.

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Do you have any Amex accounts? They're a bit easier to get BIZ CCs just starting out, and decent SLs.

Most other Banks also generally want at least 1 year, even NFCU. And more than likely it could be samller SL than you might be wanting, due to limites history on teh Biz side. You're more than welcome to try though, you never know until you do.

However, given you personal history, you might get better results with the CLOC.

[Anonymous]

CLOC, good idea..

[CreditInspired]

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@Anonymous wrote:
CLOC, good idea..

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Interest starts day 1 on CLOCs. No grace period! IMO, not a great idea. 

[Anonymous]

Ok, I read a lot of threads on NFCU business. Not promising at all. So it's either gardening until the Flagship bonus comes back or going elsewhere.

Thanks, everyone.

[Anonymous]

Ok, I just took the advice of others on this thread and requested a CLI on my cashRewards card. But to ensure that I didn't get a HP, I put a freeze on all three credit reports. Just to be safe. I requested $10,000 limit -- knowing that the standard increase is only 3x. I could use the limit for cash flow for my new business.

The response from online request was something like "It will take 24 hours to review." I looked at my account just now and it shows:

Credit limit:  $500 (still)

Available Credit:  $1449.21

Cash Advance Available:  $450

Cash Advance Limit:  $150

So the limits don't match the available credit. My hope is that it's because they will still do a review and may adjust it upward. Like I said, my credit with Navy so far is exceptional. Plus I just got my new Experian score:  797. Should I call for recon in two days? I don't want to push it. And I expect to apply for Navy Flagship when the bonus comes back (March?).

Also wondering what effect closing my two secure Regions accounts would have. I stopped in and talked with them again today. Rep told me that there is no guarantee my card would graduate even with a HP and a 797 score. She said I should keep it for 12 months. That's $1000 of my money! My plan is to take the $1000 and put it in a Chase business account. If I leave it there 60 days, I will get a $200 bonus.

And should I go ahead and close my OpenSky? That would leave only one revolver: NFCU cashRewards. 

Regions secure card:  $750

Regions secure LOC:  $250

Navy Federal cashRewards:  $500 >> $1500 (or more?)

OpenSky secure: $200

Thanks for any feedback.