Which 2nd card should I apply for at NFCU w/ high util?

[Anonymous]

I currently have an NFCU Go Rewards card that's about 95% util ($12K limit) that I've had for about 3-4 years. I'd like to try my luck and apply for a second credit card to do a balance transfer for some of my other cards that have higher interest rates so I can take advantage of the lower interest rate on BT. I'd like advice as to which one to apply for. 

Income is a little over $100K/ year and scores are roughly 700. 

May also consider applyingn for a LOC of some sorts with Navy and would like feedback as to what to apply for. I've seen some say Flagship and Platinum where good cards to get high limits. 

Thanks in advance!

[Jnbmom]

Normally you get much higher limits with a second navy card. Flagship starts at a minimum of 5K. Their CLOCs can go as high as 15K but the rates aren't great especially for a BT.

Although being at 95% on your first card, I am not sure how that will look to navy?

[DapprD]

I chose the Platinum for my BT ... however i'm not sure how Navy will look at the High UTL as the previous reply said.

I'm sure some other Navy members will chime in and give you some DP's ... 

[FicoGuy2019]

Can you get the utilization down?  Your income is 100K but what debt do you have besides the 12k?  

Interest is the lowest on the Platinum so if you need to carry a balance for a while, seems like it would be the way to go.

[AverageJoesCredit]

Lower your Navy Utilization first. It will improve your odds

[TheFIGuy]

Hey, wanna provide you a data point.

I have a NFCU cashRewards SL 15K waited 91/3 and apped for a new NFCU Platinum and was instant approval of SL 15k. Sent SM for a higher SL around 25k and was politely denied because of my DTI—(50%). I have 44k in Student Loans and I make $100k+ a year. So NFCU, is as many people say DTI and Income sensitive. Once I pay down my Student Loan debt, increase positive history or get a raise I’ll apply for a CLI.

Also, I have some baddies — PIF collections that will fall off in (2) years

But as always YMMV. I can’t say that enough and be ready for HP!

[Anonymous]

You cannot apply for a BT card from NFCU if you want to move debt from an NFCU product so keep that in mind. No issuer will allow you to BT a balance from one of their accounts to another of their accounts, it has to be with another FI. With that $12K balance, I would be looking at BT options elsewhere to try to get that down sooner.

With that said, I don’t believe your chances are great with such high utilization. You may be able to make an argument for a decrease in APR to help you pay down the balance quicker but until you get the card down around 70%, it’s going to be really hard to get a BT card elsewhere. 

[Aspireto850]

In my experience with them they are utilization sensitive. I have/had a credit card with 25k limit and perfect pay history. However the utilization on two of my other CC’s ( different banks; also high limits of $25k) got really high due to a home renovation; abt 80% and NFCU closed my credit card!

[Anonymous]

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@Aspireto850 wrote:
In my experience with them they are utilization sensitive. I have/had a credit card with 25k limit and perfect pay history. However the utilization on two of my other CC’s ( different banks; also high limits of $25k) got really high due to a home renovation; abt 80% and NFCU closed my credit card!

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That’s interesting. Stories of NFCU AA seem to be kind of rare, was it specifically just because of the balance?

[Jnbmom]

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@Anonymous wrote:

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@Aspireto850 wrote:
In my experience with them they are utilization sensitive. I have/had a credit card with 25k limit and perfect pay history. However the utilization on two of my other CC’s ( different banks; also high limits of $25k) got really high due to a home renovation; abt 80% and NFCU closed my credit card!

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That’s interesting. Stories of NFCU AA seem to be kind of rare, was it specifically just because of the balance?

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Yes I would like to know as well, you hardly ever hear of AA from Navy?