Navy Fed CU: Your starting limit is 22k

[webhopper]

Ok,

So I just refinanced my truck through NFCU... I decided to pay off my husbands jeep instead of my truck with the bonus money... but i refinanced the truck for 36 months... After I sent in my information for the truck, I saw I was pre-approved for a NFCU cashRewards card...  So I thought about it, and decided to apply since they allow for joint accounts.. I figured I would get my husband be added as a joint owner of the account after approved, that way we could rebuild his credit...

So I get the message this morning:  You are approved for a cashRewards Visa, Your new Credit Line will be $22,000.  Your APR will be prime + 11.4%

I'm like wow... holy crap!  Go NFCU!  Do you think they did this because they actually had my bank statements and W2s from the refinance of the vehicle and knew how much was in my Checking account?

[drkaje]

Congrats!

I never cease to ba amazed at their CLs!

[MsLadyRover]

Awesome CL!!  Congratulations!

[Datx]

Congrats! Kind of crazy once you think about it and realize, that is what they are starting you out with.

[webhopper]

Yes, it's totally crazy holy cow I had seen people getting high limits, and I had read that they need a full financial review to go over 15k, I'm guessing that sending in my banking and salary info for the auto loan sort of greased the wheels for this crazy CL.

[Anonymous]

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@webhopper wrote:

 had read that they need a full financial review to go over 15k, I'm guessing that sending in my banking and salary info for the auto loan sort of greased the wheels for this crazy CL.

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Not sure who started that particular rumor, or why... but there are many threads out there disproving that.  Almost all of us with NFCU cards over $15k were granted the credit line without a full financial review (or even really a "partial" review).

Congrats on the credit line and NFCU is great!  Enjoy!

[webhopper]

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@Anonymous wrote:

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@webhopper wrote:

 had read that they need a full financial review to go over 15k, I'm guessing that sending in my banking and salary info for the auto loan sort of greased the wheels for this crazy CL.

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Not sure who started that particular rumor, or why... but there are many threads out there disproving that.  Almost all of us with NFCU cards over $15k were granted the credit line without a full financial review (or even really a "partial" review).

Congrats on the credit line and NFCU is great!  Enjoy!

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That's good to know that I won't have to resubmit all of the W2s and statements to get CLIs ...  

Thanks, so far i've been very impressed with NFCU, I'm going to definately use their savings account to build my savings, and their finance products are great so far...  very happy to be a NFCU member since 3/16/12

[pizzadude]

Congrats on the fantastic CL !!!   Navy gives amazing starting limits for sure ! 

[Anonymous]

You probably don't even need to request your CLIs unless you have a desparate need... They are pretty much automatic at 6, 12, and either 18 or 24 months, I forget which.  YMMV, but I've talked to many people who had the same experience as me.  Then again, you are starting higher than I did so it might be different.

[webhopper]

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@Anonymous wrote:

You probably don't even need to request your CLIs unless you have a desparate need... They are pretty much automatic at 6, 12, and either 18 or 24 months, I forget which.  YMMV, but I've talked to many people who had the same experience as me.  Then again, you are starting higher than I did so it might be different.

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Thanks, ya, I can't really seeing myself needing a CLI... I actually didn't even need the NFCU card, but my husband did need a joint account with me, to help him in rebuilding... I have AUed him on all my cards, and he is a NFCU member, with several personal loans PIF/ never late with them in the past, so I'll be adding him as a joint account holder on this NFCU Visa since they seem to be his best bet at rebuilding... He had a foreclosure, and settled a CO from Citi in 2009 after getting laid off and taking a lower paying job.   So his Credit Rating took a hard hit from those two tradelines,  every other tradeline is fine..

 but he just doesn't have any credit in his name now, except the Jeep...  so I added him as an AU on my AMEX, Discover, and Chase accounts...  I'll add him as joint owner on this account, but we are paying off his Jeep because of the high interest. So, he will have 4 CC accounts reporting, and we may do some sort of secured loan later on, but not right now.