NFCU checking account but related to credit question

[CreditPoor]

Have a buddy who joined NFCU about 3 months ago and is considering applying for a new card. What amount in Savings and Checking account should he be keeping to improve odds? Any input would be appreciated 

[Horseshoez]

I joined NFCU a few months ago and have been kinda-sorta following threads relative to them ever since.  I may be wrong, but my take on much of what has been written is having a balance doesn't really factor into credit card underwriting, however, having a direct deposit set up to either checking or savings does.

If/when your friend applies, please post back the results.

[JoeRockhead]

Navy values things like direct deposit over any set balance amount... On the other hand, I don't have DD and when I got my More Rewards approval I had less than $1,000 between checking and savings. One's credit being in good shape is the biggest plus when first starting out with them IMO. 

[pizzadude]

I was approved for CCs with NFCU years ago and at the time I had only a savings account and no direct deposit, so it's not required. 

Would it help?  Possibly, but I don't know that it would override other factors if your friend has any recent credit red flags.

Having said that, NFCU is still among one of the best at approvals for rebuilders so odds of approval generally are better than with many other creditors. 

[CreditPoor]

Appreciate the feedback. 

[CreditPoor]

So, while I'm here I'll ask a quick question for myself. Have one card with Navy was given a small limit $500 on a CashRewards. Got the card the day I opened the account z5 months ago. Thinking of applying for another and open to any suggestions as to what the second card should be?

730 TransUnion FICO8 and bit higher for 9

4 inquiries one new account in 6 months and 3 in 12

No negatives whatso ever

[Horseshoez]

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@CreditPoor wrote:

So, while I'm here I'll ask a quick question for myself. Have one card with Navy was given a small limit $500 on a CashRewards. Got the card the day I opened the account z5 months ago. Thinking of applying for another and open to any suggestions as to what the second card should be?

730 TransUnion FICO8 and bit higher for 9

4 inquiries one new account in 6 months and 3 in 12

No negatives whatso ever

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I've seen a similar question asked several times; the answer always seems to be NFCU's Flagship Rewards card.

[JoeRockhead]

Really depends on what your CC goals are. If you have plans to try for a Flagship (requires the ability to be approved for min SL of $5k)somewhere down the road, I'd tell you to strongly consider to just sticking with the Cash Rewards and build it up before going for the Flagship.

How long have you had the card, ever asked for a CLI? 

[CreditPoor]

Had the card about 5 months, I haven't requested an increase because I wanted to see how long it took for an auto increase and what amount. Been busy building relationship with them. Have two pledge loans paid down to 90% and one paid off.

[ForwardLooking]

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@CreditPoor wrote:

So, while I'm here I'll ask a quick question for myself. Have one card with Navy was given a small limit $500 on a CashRewards. Got the card the day I opened the account z5 months ago. Thinking of applying for another and open to any suggestions as to what the second card should be?

730 TransUnion FICO8 and bit higher for 9

4 inquiries one new account in 6 months and 3 in 12

No negatives whatso ever

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Your scores seem good, but why do you think they only gave you a $500 starting limit?  I would definately ask for a credit limit increase -- just do it on-line and don't chat or call so it will be a soft pull.  Also, if you want to jumpstart your credit limit to a higher one, consider opening a nRewards secured card with a $3000 to $5000 deposit.  Thats how I started with them and I was able to quickly graduate to their Flagship card within a relatively short period of time.