Navy fed credit limit increase.

[Anonymous]

I have a navy fed cash rewards card with a 10k limit I have a balance on it. Was wondering if I you guy think it would be smart to ask for an increase to 15k or if I should just stay put. I have always made on time payments and I have had the card for a year now.

[Anonymous]

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@Anonymous wrote:

I have a navy fed cash rewards card with a 10k limit I have a balance on it. Was wondering if I you guy think it would be smart to ask for an increase to 15k or if I should just stay put. I have always made on time payments and I have had the card for a year now.

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Welcome to the forums.

There is no way for us to know whether it's a good idea for you to ask for an increase without knowing more about your credit and standing with NFCU.  One of our members CredAddict has put together a guide about NFCU increases so this is a good place to do some reading and get hints.

http://ficoforums.myfico.com/t5/Credit-Card-Applications/Official-NFCU-CLI-Guide/td-p/2101185

[takeshi74]

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@Anonymous wrote:

I have a navy fed cash rewards card with a 10k limit I have a balance on it. Was wondering if I you guy think it would be smart to ask for an increase to 15k or if I should just stay put. I have always made on time payments and I have had the card for a year now.

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Not enough info.  What's the utilization on that card?  What's the rest of your credit profile like?  CLI's with any creditor are based on what your credit and income qualify for.  It's not just a matter of the account(s) that you hold with that specific creditor.

[Anonymous]

Good points here.  But just as a scenario.  I had about 95% util showing on my credit report on my NFCU $10k limit card.  I tried for the CLI a few days ago and I put in $25k limit, which you should do as well, granted it may depend on income, mine is $62k/year.  They instant counter offered $20k and I accepted.  From what I've read that is the best way to ensure a soft pull and not a hard pull.  If you need a review they hard pull you and it has happened to me.

The reason I've read that you should do a $25k limit is that it is the highest CL that they will give without a full review or something along those lines.  Then they may even be more strict and do the hard pull to figure out why you need so much.  But if you just max it at $25k they will usually counter instantly with the max they are willing to give you.  I did have one rejection about 9 months ago.  But like I said I tried again now and they approved.

[CreditUnionFan]

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@Anonymous wrote:

Good points here.  But just as a scenario.  I had about 95% util showing on my credit report on my NFCU $10k limit card.  I tried for the CLI a few days ago and I put in $25k limit, which you should do as well, granted it may depend on income, mine is $62k/year.  They instant counter offered $20k and I accepted.  From what I've read that is the best way to ensure a soft pull and not a hard pull.  If you need a review they hard pull you and it has happened to me.

The reason I've read that you should do a $25k limit is that it is the highest CL that they will give without a full review or something along those lines.  Then they may even be more strict and do the hard pull to figure out why you need so much.  But if you just max it at $25k they will usually counter instantly with the max they are willing to give you.  I did have one rejection about 9 months ago.  But like I said I tried again now and they approved.

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If they countered automatically, then you know it was a SP CLI.

Wait a few months (see CA's thread) and go ahead back for the last $5k you can possibly get without a guaranteed HP or income review.

[Anonymous]

Ok, I will do that.  But I will probably wait a year from today as I want to sell and get into my next house before this.