Needing Advice From NFCU Members

[LifeIsAHighway]

Hey all,

I'm contemplating my next move with NFCU & would appreciate any input/advice. Tonight my 4th stmt will cut on my 2nd NFCU CC (CashRewards Visa Signature with instant approval of $11,000 on 02/28/20). I have waited for the 4th stmt because the 1st stmt only had a few days of activity. Thus, this will actually be the 3rd FULL stmt.

All info in my signature is current/accurate.

Also, here are my data points to consider:

1) My total monthly DTI is 28%.

2) My secured NFCU nRewards CC graduated last month & went from being a $500 secured CC to a $4,500 unsecured CashRewards CC.

3) My NFCU CashRewards Visa Sig CC is at 1.99% until 03/2021. Bal is currently $3,790/$11,000 which = 34% util. on that CC.

4) I have a total of 7 CC with total combined CL = $22,850. My aggregate util. is 17%, as my NFCU CashRewards Visa Sig CC is the only CC carrying a bal.

5) My NFCU CashRewards Visa Sig CC was a cold app & was an instant approval of $11,000 on 02/28/2020.

6) My Transunion (which is pulled for NEW CC apps) has a total of 6 hard inquiries.

7 ) My Transunion FICO score has improved approx 18 points since being approved for the CashRewards Visa Sig CC. Current FICO 9 is 682.

Taking all of the above into consideration, I would love to hear everyone's thoughts on what to do (or not to do) after my CashRewards Visa Signature stmt cuts tonight. Tomorrow will be 106 days since it was approved. Should I request a CLI? Should I apply for a 3rd CC (preferably a Platinum CC with a low interest rate)? Should I hold off on doing anything until my FICO scores are in the 700's?

If I apply for a new card & request a CLI on the CashRewards Visa Sig, in what order should that be done? App for new card 1st or request CLI 1st?

Thanks in advance to EVERYONE here! Have a GREAT & SAFE weekend!!!

[bourgogne]

that is a lot of detail, you really are retired.  I would not do a thing and enjoy the $11K that is a gift coming out of a bk.  just one man's opinion.

[AllZero]

1. Go for 3rd card.
2. Go for CLI.

[LifeIsAHighway]

Thanks @bourgogne . I'm very grateful for having 2 CC with NFCU (with a total combined SL of $15,500) only 16 months post discharge from Ch7 Bk. I'm almost afraid to push my luck any further at the moment.

[LifeIsAHighway]

Thanks @AllZero  . The temptation is soooo strong! But like I said in my response to @bourgogne , I'm afraid to push my luck, especially in the current economy.

[bourgogne]

---

@LifeIsAHighway wrote:

Thanks @bourgogne . I'm very grateful for having 2 CC with NFCU (with a total combined SL of $15,500) only 16 months post discharge from Ch7 Bk. I'm almost afraid to push my luck any further at the moment.

---

congratulations, I dont know anything about BKs but it does not sound pleasant.  all my statements cut around the 15th and everyone gets paid on the 20th.  for over 4 decades.  its worked out like a charm for me, I have all the credit I can use.  I am really big on flying under the radar not testing the water and treating credit as a privilege not a right.  no soap box, that is just how I roll.  do as you will, be safe

[AverageJoesCredit]

---

@LifeIsAHighway wrote:

Thanks @bourgogne . I'm very grateful for having 2 CC with NFCU (with a total combined SL of $15,500) only 16 months post discharge from Ch7 Bk. I'm almost afraid to push my luck any further at the moment.

---

This is why Navy is so great. Most lenders wont extend that much credit 1 year post bk. 

2 things going for you, 1) its only a hp  , or 2, to try , though most recently most get sp on the cli.2) Its Navy, they just might. To me , always worth the try, unless going for a mortgage within next 12 months.

As for cli or cc first, viewers choice but if 3rd card more import, go for that first. 

Good luck

[CreditInspired]

Hi OP

If it were me, I'd slow down. Why the rush to get another CC? You're less than 2 yrs out of BK, and I fear you're starting to travel down the same path toward BK again.

Be the tortoise and not the hare. Slow and steady will win this race. Those  cards are not going anywhere. They'll be there a year from now.

Well that's my 2cents anyway. 

[AverageJoesCredit]

---

@bourgogne wrote:

---

@LifeIsAHighway wrote:

Thanks @bourgogne . I'm very grateful for having 2 CC with NFCU (with a total combined SL of $15,500) only 16 months post discharge from Ch7 Bk. I'm almost afraid to push my luck any further at the moment.

---

congratulations, I dont know anything about BKs but it does not sound pleasant.  all my statements cut around the 15th and everyone gets paid on the 20th.  for over 4 decades.  its worked out like a charm for me, I have all the credit I can use.  I am really big on flying under the radar not testing the water and treating credit as a privilege not a right.  no soap box, that is just how I roll.  do as you will, be safe

---

Bk for some of us wasnt a choice we would want to make but life isnt always roses for some of us and we play the hand we are dealt. 

[bourgogne]

---

@AverageJoesCredit wrote:

---

@bourgogne wrote:

---

@LifeIsAHighway wrote:

Thanks @bourgogne . I'm very grateful for having 2 CC with NFCU (with a total combined SL of $15,500) only 16 months post discharge from Ch7 Bk. I'm almost afraid to push my luck any further at the moment.

---

congratulations, I dont know anything about BKs but it does not sound pleasant.  all my statements cut around the 15th and everyone gets paid on the 20th.  for over 4 decades.  its worked out like a charm for me, I have all the credit I can use.  I am really big on flying under the radar not testing the water and treating credit as a privilege not a right.  no soap box, that is just how I roll.  do as you will, be safe

---

Bk for some of us wasnt a choice we would want to make but life isnt always roses for some of us and we play the hand we are dealt. 

---

right, of course.  I am not judging, sorry if it came out that way.  I did 2008 with a side of divorce, life has its turns.