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NFCU CLOC Approval on 2nd checking account

CreditInspired
Community Leader
Super Contributor

NFCU CLOC Approval on 2nd checking account

In my research, I found that NFCU CLOC starts as low as 13.99% APR.

Okay, so I called to ask for APR reduction on my Primary checking account CLOC (16.99% APR) and was told “no can do.” CL is $1K/0 balance. Account is 10 yo.

So, I had an overdraft protection (OOPS) on my Secondary checking account that had to be deactivated in order to request a CLOC on the Seconday account, which I did. BAM! $14K instant CLOC approval at the 13.99%APR.

Max for combined CLOCs is $15K.

So happy I asked because I would have been at $15K at the $16.99% APR.

Edit: Oh a DP. I was asked if I had applied for anything—CC, loan, mortgage—in the last 30 days. I wonder if this is going to be a trend.

|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macys $20K || NFCU CLOC $15K || CitiCostco $12.7K || NFCU Platinum $12.5K || Apple Card $7K || BOA CashRewards $6K
Message 1 of 9
8 REPLIES 8
19eighty5
Senior Contributor

Re: NFCU CLOC Approval on 2nd checking account

Congratulations on your approval and thanks for sharing the DP!

FICO 8 (Feb 2018):EX- 519, TU- 530, EQ- 545
FICO 8 (Aug 2021):EX- 689, TU- 671, EQ- 671
What's in my wallet:



On the chopping block:

Message 2 of 9
VoltronM
Senior Contributor

Re: NFCU CLOC Approval on 2nd checking account

Congrats on your approval !!!!

 

 

 

 

 

 

8-2019 / Fico 8 EX 8013 , EQ 8016 , TR 810
Amex ED 22k , CSP 17k , Discover iT 12.5k , Fifth Third Bank S2C 12k , BofA Cash Rewards 10k , Avianca Vida 10k , State Farm Good Neighbor Visa 10k , Citi DD 6k , Union Bank Rewards 5k
Message 3 of 9
CreditInspired
Community Leader
Super Contributor

Re: NFCU CLOC Approval on 2nd checking account

Thanks @19eighty5 and you’re welcome.

|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macys $20K || NFCU CLOC $15K || CitiCostco $12.7K || NFCU Platinum $12.5K || Apple Card $7K || BOA CashRewards $6K
Message 4 of 9
CreditInspired
Community Leader
Super Contributor

Re: NFCU CLOC Approval on 2nd checking account

Thanks @voltron.

|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macys $20K || NFCU CLOC $15K || CitiCostco $12.7K || NFCU Platinum $12.5K || Apple Card $7K || BOA CashRewards $6K
Message 5 of 9
Anonymous
Not applicable

Re: NFCU CLOC Approval on 2nd checking account

Congrats!

 

Yeah CLOC unfortunately can’t have the APR adjusted so what you start with is what you are stuck with and they probably asked those questions since the department that does them is not the same as the one that does the credit cards (I read it’s the department that does the auto loans). 

 

I would still rather not use the CLOC anyway - if I ever have an emergency, I’ll take an advance off the Plat at 9.99% before I’ll use my CLOC for 15.9%. 

Message 6 of 9
CreditInspired
Community Leader
Super Contributor

Re: NFCU CLOC Approval on 2nd checking account

Thanks @Saeren

Honestly, I only got it for padding UT. I have 3 CCs w/0% APR so I can’t imagine a time I’ll use it—well, no time before 2020 anyway.

|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macys $20K || NFCU CLOC $15K || CitiCostco $12.7K || NFCU Platinum $12.5K || Apple Card $7K || BOA CashRewards $6K
Message 7 of 9
n_la
Frequent Contributor

Re: NFCU CLOC Approval on 2nd checking account

Happy Holidays and Congratulations!! 👏🏾

So, let me get this right, your initial CLOC on the primary was $1k. Your secondary had the traditional Overdraft Protection, which you had to cancel to apply for a CLOC on the secondary (makes sense); in which resulted in an approval for the max CLOC of $15k between two checking accounts?

If I'm following you correctly, it sounds like you can have more than one CLOC?! Or, do they allow more than one CLOC, but it can't exceed the max of $15k across multiple accounts? Which kind of aligns with what's happened here?


06.2019

03.2018

NFCU CLOC: $15,000
Message 8 of 9
CreditInspired
Community Leader
Super Contributor

Re: NFCU CLOC Approval on 2nd checking account

Thanks @n_la.

Yes that’s exactly correct. One can have more than one CLOC (ckg acct dependent) but max $15K total across both.

If NFCU has just reduced my APR, I would have just requested a CLI on the primary.

|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macys $20K || NFCU CLOC $15K || CitiCostco $12.7K || NFCU Platinum $12.5K || Apple Card $7K || BOA CashRewards $6K
Message 9 of 9
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