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NFCU CLOC @ $500!? REALLY!!??

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Super Contributor

Re: NFCU CLOC @ $500!? REALLY!!??

I was wondering why DW and I suddenly BOTH have offers for CLOCs...

 

 


Last inquiry 31 January 19. Going for Gold!

Zero percent financing is where the devil lives...
Message 11 of 37
Community Leader
Senior Contributor

Re: NFCU CLOC @ $500!? REALLY!!??


@bourgogne wrote:

so I went for the cloc yesterday afternoon.  around 330a I woke up to raid the kitchen and noticed an email from them.  honestly I thought I was seeing things.  a $ 500 counter offer to my $15K request...on what planet does this make sense...850, 0%, dti nill, $25k nfcu card (seldom used) no inq on eq, no credit in 2+ years, etc.  sort of laughing and semi-insulted I called them and asked for another review.  the csr was proud to say that I got the lowest rate and I am like for what, so I can finance a rake and a few bags of potting mix at the lowest rate and she laughed.  I offered to upload the docs I just got from my pnc $66k bloc a week ago.  it floors me, how can a lender be so far off or so different than another?  I would have used pedfed as one of my cars if through them but 17.99 is a bit rich.  I know, I know, its nothing personal its just credit but really lol


I agree with everyone else — so I can finance a rake and a few bags of potting mix — PRICELESS!

 

Okay, now onto being serious. 

Your stats: 

score 850

UT 0%

dti nill

$25k nfcu card (seldom used)

no inq on eq

no credit in 2+ years

 

This my take on it and also IMHO. As far as NFCU is concerned, you’re not spending any money because you have 0 UT. Since your DTI is nil, you have no credit history at this moment in time. They gave you a $25K card that you seldom use; so, they cant even make any money off swipe fees. And to top it off, you’re offering to upload PNC $66K bloc approval. 

 

My thoughts—and maybe NFCUs reason—is why do you need more than $500. You’re not using what they have  already provided. That $15K can be given to someone who will use it. 

 

I see the $500 as a peace offering, a jesture to let you know they like you, they want to do business with you, but they want you to like them too. They want to see if you will use it. And, if I were you, I would accept it, and over the next 91 days I would start putting quite a bit of spend on my NFCU card (utilities, cell phone, groceries, subscriptions, insurance, etc). Then after 3 statements, I would ask for a CLI on the CLOC. 

 

You see, the pendulum swings both ways. You both have to work together to make each other happy. 

 

Well that’s my take on it anyway. 

GOALS: Garden til APR 2020 and 800 Club

GIRL WILLPOWER ("No Thanks" to Apple $7.5K, 12.99% Approval)


JUN 2019: EX 788, TU 794, EQ 779
DEC 2018: EX 777, TU 783, EQ 799

|| AmX Cash Magnet $25K || NFCU CashRewards $20K || Macy's $20K || Discover IT $18.7K || NFCU CLOC $15K || NFCU Platinum $12.5K || AmX ED $11.5K || CitiCostco $7K || CitiDC $6.3K ||
Message 12 of 37
Valued Contributor

Re: NFCU CLOC @ $500!? REALLY!!??


@CreditInspired wrote:

@bourgogne wrote:

so I went for the cloc yesterday afternoon.  around 330a I woke up to raid the kitchen and noticed an email from them.  honestly I thought I was seeing things.  a $ 500 counter offer to my $15K request...on what planet does this make sense...850, 0%, dti nill, $25k nfcu card (seldom used) no inq on eq, no credit in 2+ years, etc.  sort of laughing and semi-insulted I called them and asked for another review.  the csr was proud to say that I got the lowest rate and I am like for what, so I can finance a rake and a few bags of potting mix at the lowest rate and she laughed.  I offered to upload the docs I just got from my pnc $66k bloc a week ago.  it floors me, how can a lender be so far off or so different than another?  I would have used pedfed as one of my cars if through them but 17.99 is a bit rich.  I know, I know, its nothing personal its just credit but really lol


I agree with everyone else — so I can finance a rake and a few bags of potting mix — PRICELESS!

 

Okay, now onto being serious. 

Your stats: 

score 850

UT 0%

dti nill

$25k nfcu card (seldom used)

no inq on eq

no credit in 2+ years

 

This my take on it and also IMHO. As far as NFCU is concerned, you’re not spending any money because you have 0 UT. Since your DTI is nil, you have no credit history at this moment in time. They gave you a $25K card that you seldom use; so, they cant even make any money off swipe fees. And to top it off, you’re offering to upload PNC $66K bloc approval. 

 

My thoughts—and maybe NFCUs reason—is why do you need more than $500. You’re not using what they have  already provided. That $15K can be given to someone who will use it. 

 

I see the $500 as a peace offering, a jesture to let you know they like you, they want to do business with you, but they want you to like them too. They want to see if you will use it. And, if I were you, I would accept it, and over the next 91 days I would start putting quite a bit of spend on my NFCU card (utilities, cell phone, groceries, subscriptions, insurance, etc). Then after 3 statements, I would ask for a CLI on the CLOC. 

 

You see, the pendulum swings both ways. You both have to work together to make each other happy. 

 

Well that’s my take on it anyway. 


hey, so listen - thank you for taking the time to respond, I do appreciate it.  I have been all over every forum for the past week and I am not intending to drive everyone insane.  my util is reporting 0 but there are some minor balances out there.  I play and pif, always have always will.  I totally understand what you are saying.  I will write to nfcu and see if they will offer me more but my bet is they will stay firm.  why should I move forward with them if dcu will give me $5K at probably lower rate.  does the same thing a cloc will, maybe more as I now have a credit card.  the only reason I am going through this exercise is that pnc will not give me a checking in socal that I can use for overdraft.  nfcu will not cli me because my use will be too low.  actually they kind of pissed me off with this.  I know, I got what I deserve, I get it.  still pissed off.  should have just used penfed, they were excellent on my car loan, near instant

 

https://ficoforums.myfico.com/t5/Credit-Card-Applications/DCU-EXPERT-LEVEL-NEEDED-STAT/td-p/5677430

 

Message 13 of 37
Community Leader
Super Contributor

Re: NFCU CLOC @ $500!? REALLY!!??

I think @CreditInspired  is spot on, and that goes for any lender for any product 

 

They give us something and expect to get something in return. That would be like adding food on plate when it's pretty clear person wont take a single bite. Show them some love, too.

There is life away from Chase, and you may want to foster a few other mutually beneficial financial relationships 

EX 753 EQ 773 TU 752
Message 14 of 37
Valued Contributor

Re: NFCU CLOC @ $500!? REALLY!!??


@Remedios wrote:

I think @CreditInspired  is spot on, and that goes for any lender for any product 

 

They give us something and expect to get something in return. That would be like adding food on plate when it's pretty clear person wont take a single bite. Show them some love, too.

There is life away from Chase, and you may want to foster a few other mutually beneficial financial relationships 


I get what you are saying, i really do.  unfortunately the mindset I have is I lose when I dont spend on chase or amex.  I guess its finially cause up with me.  I can see it with what DCU offered me on a card (app thread) $5K.  because I have been using primarly biz cards for years I look dead on the CRAs.  basically I have done myself in, great scores and a card system that works but when I try to app outside it I fall flat.  wow, what a bummer

Message 15 of 37
Highlighted
Community Leader
Super Contributor

Re: NFCU CLOC @ $500!? REALLY!!??

Actually, Navy normally does not budge on Cloc approvals. What you get is what you get until later where you might get a cli. Getting 5k from DCU and still not happy? I know alot of people with high limits EXPECT high limits in return for any app they do but sometimes we need to swallow the ego pill and realize some offers are better than most get. If not, ones perogative, is to keep searching for the lender who will give you what you want.
Charter Member of the Discover " No Cli For You " Club !

Chase Never/24 Squad Leader
Team Pendread Anonymous
#JustSayNo2Comenity
Officially S.O.G.O.T.P
Message 16 of 37
Super Contributor

Re: NFCU CLOC @ $500!? REALLY!!??


@AverageJoesCredit wrote:
Actually, Navy normally does not budge on Cloc approvals. What you get is what you get until later where you might get a cli. Getting 5k from DCU and still not happy? I know alot of people with high limits EXPECT high limits in return for any app they do but sometimes we need to swallow the ego pill and realize some offers are better than most get. If not, ones perogative, is to keep searching for the lender who will give you what you want.

JUST went through that with DW.  (She's uppity!  Smiley Tongue )  She applied for CSP on a preapproval, got $18.5k.  She later applied for a Citi Double Cash card was less than impressed with her $8k starting limit.  Smiley Indifferent

 

As you mentioned, there are always other lenders out there if one feels the need...

 

 


Last inquiry 31 January 19. Going for Gold!

Zero percent financing is where the devil lives...
Message 17 of 37
Community Leader
Super Contributor

Re: NFCU CLOC @ $500!? REALLY!!??

Lol, wow @tcbofade, i think you should show you wifey the normal sl that the vast majority receive on DCSmiley Wink. 8K is like getting 10k out of the gate with DiscoSmiley Wink
Charter Member of the Discover " No Cli For You " Club !

Chase Never/24 Squad Leader
Team Pendread Anonymous
#JustSayNo2Comenity
Officially S.O.G.O.T.P
Message 18 of 37
Moderator

Re: NFCU CLOC @ $500!? REALLY!!??


@bourgogne wrote:

@Remedios wrote:

I think @CreditInspired  is spot on, and that goes for any lender for any product 

 

They give us something and expect to get something in return. That would be like adding food on plate when it's pretty clear person wont take a single bite. Show them some love, too.

There is life away from Chase, and you may want to foster a few other mutually beneficial financial relationships 


I get what you are saying, i really do.  unfortunately the mindset I have is I lose when I dont spend on chase or amex.  I guess its finially cause up with me.  I can see it with what DCU offered me on a card (app thread) $5K.  because I have been using primarly biz cards for years I look dead on the CRAs.  basically I have done myself in, great scores and a card system that works but when I try to app outside it I fall flat.  wow, what a bummer


You pretty much hit it on the nail to a great extent, but if you need an extra rake or potting soil financing I can help LOL.   Yeah, I can only imagine the reaction upon learning that there were no extra $00's to that CLOC approval.   Nonetheless, there's always options.

 

Zonk.jpg

Message 19 of 37
Community Leader
Senior Contributor

Re: NFCU CLOC @ $500!? REALLY!!??


@Remedios wrote:

I think @CreditInspired  is spot on, and that goes for any lender for any product 

 

They give us something and expect to get something in return. That would be like adding food on plate when it's pretty clear person wont take a single bite. Show them some love, too.

There is life away from Chase, and you may want to foster a few other mutually beneficial financial relationships 


Ditto. 

GOALS: Garden til APR 2020 and 800 Club

GIRL WILLPOWER ("No Thanks" to Apple $7.5K, 12.99% Approval)


JUN 2019: EX 788, TU 794, EQ 779
DEC 2018: EX 777, TU 783, EQ 799

|| AmX Cash Magnet $25K || NFCU CashRewards $20K || Macy's $20K || Discover IT $18.7K || NFCU CLOC $15K || NFCU Platinum $12.5K || AmX ED $11.5K || CitiCostco $7K || CitiDC $6.3K ||
Message 20 of 37
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