NFCU Flagship -- Time to Pull the Trigger?

[Anonymous]

I'm looking to step up my credit with a good travel card and nice CL. I opened my account with Navy Federal in September when my credit score was about 620. Navy gave me a cashRewards Visa a few days later for $500 even with low credit.

Since then I cleaned up my report and here is my score from Experian today:  EX: 734//EQ: 725// 758. My EQ9 score on NFCU is still showing 758 and my TU8 score from Regions Bank is showing 778. (Both scores are a little older.) I just purchased a 2017 Honda Fit through NFCU on 12/23/19. (Thanks, NFCU!)

So I think Navy Federal likes me. I already paid my first car payment even though it's not due till February. I zero out all three of my credit cards, except for about $10-$15. My oldest credit card is from August 2019, so none of them are more than 6 months old. My Navy CC has already had three statements, and the next one comes out on 1/20 (next Monday).

I'm thinking of calling Navy on Tuesday and applying for the Flagship CC. I want a travel card, and I would also like something for business. But I don't have enough business expenses to justify it yet. And I don't think my personal credit portfolio is complete yet, since I have such low credit limits (total $1700 from four revolving accounts). I plan to ask them for $25000 on the Flagship. I could use that for travel, business, or whatever, and finish restoring my personal credit.

The CC pull should be TU, which is my best score. Is it time to go for it? Can I use this credit request for a Checking Line of Credit and maybe an increase on my cashRewards CL at the same time?

[Anonymous]

With those scores, absolutely, but I wouldn't get one until the SUBs come back in March. The Flagship usually has a $500 value SUB but right now it's got 1.99% on purchases and BTs for 12 months instead. That ends 3/2 and I would expect they will put SUBs back on their cards again. 

You cannot use the same HP for a CLOC. That's a different department (auto lending) and they pull EQ usually for it. Right now nobody has reported a HP for a CLI in the last two months though so you should be good to ask there. Just be careful not to make the request before applying for the Flagship so you don't hit the max they're willing to give you for now. The Flagship's $5K minimum limit can be a bit of a barrier for some approvals and their criteria for maximum unsecured limit can be puzzling at times. 

[Anonymous]

Thanks for the info. And I was all set to get the signup bonus. I saw on another site that it expired on 1/2/20. Bummer. That means gardening for a couple of months, which ain't particularly easy. Best not to be trigger-happy.

That would put me at the 6-month mark (if I wait till 3/20), which is probably better anyway. Maybe Navy will give me an automatic CLI on the cashRewards by then. One can hope.

[Anonymous]

Yep I have the garden spade in my signature so I know exactly how hard it is to garden but if you do, you have a much better chance of getting that $25K approval you're seeking on the Flagship anyway. 

[Traveler101]

op..you could always attempt what so many have tried and been successful at. Freezing reports and a attempt a cli on current card. Folks saying it's still working. Then apply for your flagship at a later date. That would be a tu hp when you go for it.

[Anonymous]

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@Traveler101 wrote:
op..you could always attempt what so many have tried and been successful at. Freezing reports and a attempt a cli on current card. Folks saying it's still working. Then apply for your flagship at a later date. That would be a tu hp when you go for it.

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You don't need to freeze reports. CLIs have all been SP. The issue is that NFCU doesn't disclose what their current maximum for you is so if OP goes for a CLI now, they may be maxed internally when they go for the Flagship and burn an inquiry to just have to wait another 6 months or so to get the card. 

[Traveler101]

I see what you are saying now.

[Anonymous]

Guenuinely curious about the attraction to this card, what makes it better than or comparable to other Travel products?

The only plus i notice was the very low AF, versus the $100 credit towards TSA Pre-check. (which i don't use)

However, the points are essentially only redeemable as statment credit on travel purchases. Correct?

And based on the value of redeeming for the AF, they seem to be worth only $0.01 per point. Which seems standard. 

Is there something else that I'm missing? 

Thanks

[K-in-Boston]

Usually very high starting lines, can grow to $80k vs $50k for their other cards.  Very low APRs.  No FTF.  No cash advance fees.  Frequent balance transfer offers that work out to far less than the standard 0% for x months with 3-5% fee.  Targeted offers (I recently got 30k points on the card for maintaining a checking balance above X for 60 days).  Cell phone and extended warranty coverage.

3x on travel, 2x on everything else.  Cash (deposited to Share account) is also redeemable at $0.01/point.  (Merchandise and gift cards also available.)

[AverageJoesCredit]

Yes, @Anonymous, you're missing that its Navy Federal lol. Huge limits for many is a huge attraction. Now you can debate all the rewards etc , not my forte, but im sure just getting their flsgship card, lol no pun intended, is good enough for many.