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Navy 91/3

Tryinghardtoimprove
Valued Member

Navy 91/3

Hi. I need advice. 

 

Got Navy Amex June 2020. Fico 8 TU was 601 at the time which is what Navy pulled. EX was 622 and EQ was 601. Current is TU 629, Ex 652 and EX 642. Navy internal score in June was 300 out of 450, should be higher now. I switched my direct deposit to Navy in July 2020. Have abt $1,000 in savings and 2,150 is deposited every 2 weeks. Make $78,000 a yr. 

 

My 91/3 is over but my 1st statement wasnt a full on on  June 26th so on advice of this forum I decided to wait until the 4th statement cuts which is tomorrow Sept 26th. 

 

My question is which card should I apply for? Sould I apply tomorrow or wait until Sunday? Do you think I will be approved for a 2nd card based on my DP? I am determined to go in the garden till July of 2021 after I apply for the 2nd card. 

 

DATA POINTS/HISTORY 

 

I charged my Navy Amex up every month and pay it in full before the statement closes, I've been doing AZEO since Feb 2020. I alternate a small balance (less than $20) from my Navy Amex and Discover every other month. My credit Utilization has been steady at 1% and 2% since April. I paid off 2 baddies since June. One left to pay off. One Credit One CC that I paid was completely removed from my Credit Report prior to paying it (not sure why but not going to argue with that). Im waiting for my Khols settled as agreed to update on my reports. 

 

CC: Discover 1 1/2 years started secured $500 now unsecured $1500, Navy unsecured Amex $1000 open in June 2020, Fingerhut $1,100 open over a yr, Milestone $300 open over a yr. I recently got my car refinanced thru Belco from GM car payment went down $200. Smiley Happy and got a personal loan thru them for $5,000. I have abt $110,00 in student loans. Thats all my debt. No mortgage. 

 

Inquiries. I foolishly went on an app spree in June-Aug and have 27 on TU 6 new all the rest over a year old, 8 on EQ and 12 on EX.

 

Thank you all in advance

Message 1 of 17
16 REPLIES 16
LeilaniS
Established Contributor

Re: Navy 91/3

@Tryinghardtoimprove  congrats on all the progress!!

 

Smart to wait for the fourth statement IMHO before trying for the 2nd card. Things are definitely different right now with lending. They will use TU Fico 9 for new cards and Navy is not know to be inquery sensitive. They will be most interested in DTI and payment history. I would say apply for the card that suits your profile the best. Look at what type of card will add value and go with that one. The underwriting is the same for all their cards with the exception of the Flagship. Again just MHO but with the current scores and collections still showing I would stay clear of the FS as it has a minimum $5K SL and may be harder to qualify for. You should be good to try as soon as the statement cuts. 

 

You can also go for a CLI on the first card now but I would do so after the card app. Currently CLI requests are SP's. Navy seems to be capping CLI's at $4K right now due to the pandemic. Please keep us updated and my fingers are crossed for your success!!Smiley Wink

 

 

Message 2 of 17
Tryinghardtoimprove
Valued Member

Re: Navy 91/3

Thank you. I will definitely post an update as soon as I find out. 

Message 3 of 17
NRB525
Super Contributor

Re: Navy 91/3

I don't know NFCU, but is there a reason you want another card, instead of asking for a CLI?

 

What is the timing when all baddies will be off your reports?

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
Message 4 of 17
Tryinghardtoimprove
Valued Member

Re: Navy 91/3

I was going to apply for the CLI after the 2nd card based on the advice in this forum. I want the 2nd card because I don't have a Visa. Alot of businesses don't take Amex or Discover in my area. And my Mastercard interest from Milestone is CV through the roof

 

Also only 2 baddies still reporting. Khols should report at the endcof this month as settled as agreed. Capital One wont be paid until the end of Oct. I had 3 total and paid thrm off one at a time. 

Message 5 of 17
LeilaniS
Established Contributor

Re: Navy 91/3

@NRB525 

Often Navy will approve a second card with several months of history (as soon as 91 days and 3-4 statements). CLI's can be a go or no go. Right now a CLI seems to be capped at $4k where the norm was $8k early spring. A second card could have a SL of $1k or it could be five figures depending on the member so many go for a second card before a CLI to maximize the highest available limit. 

Message 6 of 17
Tryinghardtoimprove
Valued Member

Re: Navy 91/3

Thank you

Message 7 of 17
BmoreBull
Established Contributor

Re: Navy 91/3


@LeilaniS wrote:

@NRB525 

Often Navy will approve a second card with several months of history (as soon as 91 days and 3-4 statements). CLI's can be a go or no go. Right now a CLI seems to be capped at $4k where the norm was $8k early spring. A second card could have a SL of $1k or it could be five figures depending on the member so many go for a second card before a CLI to maximize the highest available limit. 


I believe credit limit increases on the first card ( with a $500-1000 cl) have been capped at 3x the SL. So for the first card with the $1000 cl, I would ask for 3k to err on the safe side. If you ask for more they may deny or counter for lower than the 3k. 



Starting Fico Scores:November 2019

Current Fico Scores: January 6, 2021
Goal Scores: 700 across all three
Message 8 of 17
Mr_Mojo_Risin
Senior Contributor

Re: Navy 91/3


@Tryinghardtoimprove wrote:

Hi. I need advice. 

 

Got Navy Amex June 2020. Fico 8 TU was 601 at the time which is what Navy pulled. EX was 622 and EQ was 601. Current is TU 629, Ex 652 and EX 642. Navy internal score in June was 300 out of 450, should be higher now. I switched my direct deposit to Navy in July 2020. Have abt $1,000 in savings and 2,150 is deposited every 2 weeks. Make $78,000 a yr. 

 

My 91/3 is over but my 1st statement wasnt a full on on  June 26th so on advice of this forum I decided to wait until the 4th statement cuts which is tomorrow Sept 26th. 

 

My question is which card should I apply for? Sould I apply tomorrow or wait until Sunday? Do you think I will be approved for a 2nd card based on my DP? I am determined to go in the garden till July of 2021 after I apply for the 2nd card. 

 

DATA POINTS/HISTORY 

 

I charged my Navy Amex up every month and pay it in full before the statement closes, I've been doing AZEO since Feb 2020. I alternate a small balance (less than $20) from my Navy Amex and Discover every other month. My credit Utilization has been steady at 1% and 2% since April. I paid off 2 baddies since June. One left to pay off. One Credit One CC that I paid was completely removed from my Credit Report prior to paying it (not sure why but not going to argue with that). Im waiting for my Khols settled as agreed to update on my reports. 

 

CC: Discover 1 1/2 years started secured $500 now unsecured $1500, Navy unsecured Amex $1000 open in June 2020, Fingerhut $1,100 open over a yr, Milestone $300 open over a yr. I recently got my car refinanced thru Belco from GM car payment went down $200. Smiley Happy and got a personal loan thru them for $5,000. I have abt $110,00 in student loans. Thats all my debt. No mortgage. 

 

Inquiries. I foolishly went on an app spree in June-Aug and have 27 on TU 6 new all the rest over a year old, 8 on EQ and 12 on EX.

 

Thank you all in advance


Something else to think about.

If you're not completely pressed to app for a new card, you could wait till 6 statements cut. 

You could increase your chances of a much higher SL. It helped me by waiting longer. But some people do hit it big after 91/3 full statements.

Were all with you on what you decide! Good luck and let us know!

NFCU More Rewards 28K CL
NFCU Cash Rewards 16K CL
Citi Custom Cash 7.5K CL
AODFCU Visa Sig 5K CL
Discover IT 2.5K CL
Capital One QS 3600 CL
Message 9 of 17
Tryinghardtoimprove
Valued Member

Re: Navy 91/3

UPDATE. I was approved for the cash rewards card for $6,700. I'm soooo happy. I also applied for the $3000 CLI which they will let me know within 24 hours. Now Im in the garden for a year to watch my score grow while continuing AZEO. I am so thankful to this group. My family thinks I'm obsessed with reading the post but they follow in behind me to improve their credit as well. 😂😂😂😂😂 Thanks all

Message 10 of 17
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