@KingFICO wrote:
@Jeffster1 wrote:Re-reading about this "business model" is like watching the sailing of the Titanic and knowing the outcome
- NFCU CLI from $2k to $12k
going beyond 3x and going beyond 8k on a CLI would be massive new news in terms of Navy CLI's
it's been assumed the max CLI you could get is 3x, or 8k
@KingFICO wrote:
There is no presseing need, this is about increasing credit lines to execute business deals.
I'm late for this thread, but first take is that this sounds suspiciously similar to the "South Park: Underwear Gnome" Business Plan:
1: Accumulate multiple credit card lines
2: ???
3: Capital !!!
@KingFICO wrote:
@GZG wrote:
@KingFICO wrote:
- NFCU CLI from $2k to $12k
going beyond 3x and going beyond 8k on a CLI would be massive new news in terms of Navy CLI's
it's been assumed the max CLI you could get is 3x, or 8k
I've been with NFCU for over 14 years; in all that time I never requested or received a CLI. Additionally, I keep around 20k in my accounts
I have to concur with @GZG that a NFCU CLI over $8K right now would be highly unusual and massive (relative to the $2K previous CL.)
Our members have reported that assets with NFCU don't factor into CLI, and that has been my experience as well. My NFCU accounts currently have over 2x those balances yet my CLIs were always capped at $8K (both pre and post-covid) or $4K (during covid.) My NFCU internal score was disclosed to me in 2020 of 427 (on a scale of 100 to 450) but still I never exceeded the normal reported ranges for CLI. And lack of applying for CLI hasn't shown to lead to higher increases later on; NFCU will still limit increases to whatever their standard at the time. I've never seen them make exceptions. Oddly enough, in the initial posting of the thread, I notice that the reported $20K in balances wasn't even significant enough to be included in your banking relationships???
@KingFICO wrote:
Current Credit Lines
- Regions Bank $4000 (Secured Loan)
- Upgrade $8000 Credit Line $6500 balance
- Apple Card $4000 Credit Line $0 balance
- NFCU, $2000 Credit Line $0 Balance
- USAA, $10,500 Credit Line $0 Balance
I have banking relationships with:
- Fidelity
- Fifth Third Bank
- First Tech Credit Union
- Novo Online Bank
- PenFed Credit Union
- Regions Bank
- USAA Bank
- Wells Fargo
- Chase (Personal Account)
- Chase (Business Account)
Also of note is existing TCL of $28,500 (average of $5,700; two highest $10.5K and $8K) with three new approvals well above that range of $17.5K to $25K. Most lenders will not deviate that far from the pack and finding three at once to do so is quite unusual. I'm also surprised that Chase approved a $17.5K CL on a Sapphire Preferred after a $31K charge-off from Bank One, which became part of Chase in 2004. Chase has a long memory.
@KingFICO wrote:... I just got approved for:
- Chase Sapphire Preferred $17.5k credit line
- First Tech Platinum Rewards $25k credit line
- USAA CLI from $10.5k to 20.5K
- NFCU CLI from $2k to $12k
Your approvals as-a-whole are a landmark case, @KingFICO! I encourage you to post about them in the approvals forum as well! Of course, especially in the case of approvals which set a new standard of data points, screen shots and other documentation is highly encouraged for full transparency. I always include screen shots with my approvals, even for those of much less significance.
Congratulations again on your great success. 
