Approved for NFCU CLOC but I have a question....

[Anonymous]

So since they were able to use the same inquiry they used to approve my CC I decided to take advantage of the CLOC that NFCU offers. When I called in the rep told me that the credit limits for this go from $500 to $15000, but that it has to be reviewed and I would get a text message with updates on my application. About 10 minutes after I got off the phone with her I received a text that it had been approved and some documents would be sent to my house that I would need to sign and return, and once they received the documents back my account would be activated and appear in my accounts online. My question is do they start everyone out at the $500 amount and you have to work your way up to the $15000, or do they start you out at amount comparable to your credit score such as $5000, or $7000, etc. If I do not receive the full amount of $15000 how long would you suggest waiting to do a CLI ? Thanks in advance for the advice.

[alisadarrick]

I was niave when I first applied a month or so ago and only asked for $500 and then a little later I asked for another $500 and just last week after someone said I should have asked for the full $15,000 I was approved for the $15,000.

[Anonymous]

that is really strange because the rep on the phone didnt give me an option to request a specific amount....she just stated that the credit limit on the CLOC is between $500, and $15000. How long did you wait before you requested the increase ?

[alisadarrick]

I think it may have been 3-4 weeks because I asked for the $500 then asked for an increase of another $500 and it may have been just a few days later when I got the nerve to ask for the full $15000.  You know u can do it online u don't have to go they the rep

[Anonymous]

yeah I know...but I was approved for a CC a few days ago, and I didnt get the CLOC at that time, so I called in so I could get them to use the same inquiry instead of having another hard pull...

[alisadarrick]

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@Anonymous wrote:

yeah I know...but I was approved for a CC a few days ago, and I didnt get the CLOC at that time, so I called in so I could get them to use the same inquiry instead of having another hard pull...

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You will probably get the full $15000.  

[Anonymous]

Your luck must be better than mine.   It feels like every time I breathe in the direction on navyfed I get a hard pull.   When I opened my account in April I ended up with four hard pulls.  1 for membership, 1 for cc app,  2 for cloc because I was initially declined and when I reconned they pulled it again.   Funny thing is the rep in branch told me my credit pull for membership would be good for 30 days and would be used for credit apps too.   Guess she was wrong. Lol

Still love me some nfcu.  Even if they are HP happy.   

Good luck on your loc app.  I plan on trying for mine again real soon.  

[Country_Feller]

Way to go, Congratulations!!!

[Country_Feller]

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@alisadarrick wrote:

I was niave when I first applied a month or so ago and only asked for $500 and then a little later I asked for another $500 and just last week after someone said I should have asked for the full $15,000 I was approved for the $15,000.

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WOW, Congratulations to you to!!!

[Anonymous]

few things. first off congrats

second off its a separate HP (they don't combine pulls)
third you can call and ask what the approval is
fourth if it isn't the full amount then asking to raise it is another HP and there is no auto CLI given on that account

good job on your approval