NFCU NEW MEMBER QUESTION...PLEASE HELP!

[vegasgurl2001]

Hi everyone...at the beginning of the month I opened a nfcu checking and savings acct. And last week I surprisingly was approved for a go rewards cc with a $2100 limit! Super excited since my credit history the past few years tanked due to my health problems. I am between 550-600 range last time i checked a few months ago. My nfcu credit score was 264 ...450 being their highest score.

Here's my dilemma....i need to charge almost 2500 asap for my car repair, I really don't want to. Max out the card right away so what are my chances of getting them to increase my limit to 5000 right now? I just activated card yest. And i haven't charged anything on it yet. I make 52000/yr.

Any advice or recommendation would be greatly appreciated! Thanks Everyone!!

[SouthJamaica]

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@vegasgurl2001 wrote:
Hi everyone...at the beginning of the month I opened a nfcu checking and savings acct. And last week I surprisingly was approved for a go rewards cc with a $2100 limit! Super excited since my credit history the past few years tanked due to my health problems. I am between 550-600 range last time i checked a few months ago. My nfcu credit score was 264 ...450 being their highest score.

Here's my dilemma....i need to charge almost 2500 asap for my car repair, I really don't want to. Max out the card right away so what are my chances of getting them to increase my limit to 5000 right now? I just activated card yest. And i haven't charged anything on it yet. I make 52000/yr.

Any advice or recommendation would be greatly appreciated! Thanks Everyone!!

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I think you should hold off on the car repair. If you put 3 months of good history on the card you'll probably be able to get a CLI.

[Anonymous]

I just recently joined nfcu also and from my join and reading these logs I have a theory that a major portion of their internal score is utilization. If you max out that card, you will most likely destroy your relationship with them, but if you don't that 2100 can be $21k very quickly. Within a year if your moves are correct. So you have to ask yourself, would I give up $20k in CLIs to fix my car?

[FA21]

I absolutely agree.  Try to hold on a little bit and apply for a CLI in 90 days.  You will be surprised!  Good luck!

[CreditInspired]

Agree with everyone else. So, why don't you try applying for a CLOC. You might get a decent loan. Good luck.

[Anonymous]

My advice is to fix the car, then use the next 90 days (or less) to pay off the resulting balance.  Att he end of that period you will have demonstrated both your need for a larger line AND your ability to handle the line.

[vegasgurl2001]

How do you apply for a CLOC? is that the personal loan option i see on the phone app?

[AverageJoesCredit]

Maxing out the card for a short period of time, so long as you bring it down, should not more than likely destroy your relationship with Navy , thats a bit drastic . Im in agreement with TygerHawke in that if you decide to go this route and can try to bring this balance down as fast as you can within the next three months, you are building history and showing responsible use. This may help you when that next AR comes about and like said earlier, you may just get one of those famed Navy super increases. If not in 3 or 6 months perhaps the year.

If fixing your car means safer travel and reliable transportation to and from work, you can make good payments, then id say use the credit card as its intended for, to use Good luck and congrats on joining the Navy family

[Anonymous]

Hi vegasgurl I totally agree with CreditInspired, TygerHawke & AJC! If you decide to go for the CLOC, it is under the NFCU products & services tab click on the checking protection options it's called the checking line of credit. I hope this helps! 😊

[creditfan]

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@vegasgurl2001 wrote:
Hi everyone...at the beginning of the month I opened a nfcu checking and savings acct. And last week I surprisingly was approved for a go rewards cc with a $2100 limit! Super excited since my credit history the past few years tanked due to my health problems. I am between 550-600 range last time i checked a few months ago. My nfcu credit score was 264 ...450 being their highest score.

Here's my dilemma....i need to charge almost 2500 asap for my car repair, I really don't want to. Max out the card right away so what are my chances of getting them to increase my limit to 5000 right now? I just activated card yest. And i haven't charged anything on it yet. I make 52000/yr.

Any advice or recommendation would be greatly appreciated! Thanks Everyone!!

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the best way I can suggest is making a payment before you do a charge on your low limit because with a negative xx amout will help you from max out your credit line