NFCU Credit Line Application

[CreditPal]

It seems that the NFCU is now limiting the checking personal line of credit extended to new applicants. I was told that the new Starting CLOC limit  is now $500.00? I was suprised to say the least. Anyone else have a similar experience?  DP's TU 800, EQ 797, EX 782-under 1% utlization and I have a NFCU Platinum w/ a 30K limit. 

[800wannabe420]

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@CreditPal wrote:

It seems that the NFCU is now limiting the checking personal line of credit extended to new applicants. I was told that the new Starting CLOC limit  is now $500.00? I was suprised to say the least. Anyone else have a similar experience?  DP's TU 800, EQ 797, EX 782-under 1% utlization and I have a NFCU Platinum w/ a 30K limit. 

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I think the $500 limit is actually the minimum amount for a CLOC as opposed to the maximum. 

"Your Checking Line of Credit accounts cannot exceed a combined total of $5,000.00. Generally, the combined credit limit for your Checking Line of Credit accounts will be $500 if your application is approved. You may qualify for and be granted higher credit limits based on criteria in addition to creditworthiness, such as length of membership, direct deposit and/or active duty status (up to $3,000 for members not in active duty military service; up to $5,000 for active duty service members)."

I think the requirements for receiving the maximum CLOC amount is easily met and if you want to use a HP for the $3K/$5K max I wouldn't hesitate to do so. 

[Guyatthebeach]

CreditPal,

The minimum CLOC limit is $500. For the non-military members,the maximum CL is $3000 and it's $5000 for active duty members.  

Guyatthebeach

[TryItAgain]

I can confirm what the others replied here. I have a 15k ploc-Navchek for years now and am non-military. However, when my wife (avg 760 scores) recently applied for an increase on hers which was $3k, they said 3k max for non-military 5k for military or vets.

[800wannabe420]

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@TryItAgain wrote:

I can confirm what the others replied here. I have a 15k ploc-Navchek for years now and am non-military. However, when my wife (avg 760 scores) recently applied for an increase on hers which was $3k, they said 3k max for non-military 5k for military or vets.

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The 3K limit applies to veterans also.   Only ACTIVE DUTY military have access to 5K limits currently. 

[MySunrise271]

@TryItAgain from initial application and approved for $500, how long before she requested an increase and was it for the additional $2500 or was it incremental to get to the $3k max🤔

[butterpecan]

@Guyatthebeach @TryItAgain @800wannabe420 @MySunrise271 @CreditPal 

What credit type of score is needed to be approved for a CLOC? 

Also, I am a new account holder and opened a secured card a week ago, how soon can I apply for the CLOC? Any info someone here perhaps has will be better than what I've found so far searching through threads. Thank you...all of you! 

[SouthJamaica]

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@butterpecan wrote:

@Guyatthebeach @TryItAgain @800wannabe420 @MySunrise271 @CreditPal 

What credit type of score is needed to be approved for a CLOC? 

Also, I am a new account holder and opened a secured card a week ago, how soon can I apply for the CLOC? Any info someone here perhaps has will be better than what I've found so far searching through threads. Thank you...all of you! 

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1. There is no specific minimum credit score; they look at your whole profile. I would suggest not applying for it unless your score is 700 or more.

2. You can apply whenever you want to.

[butterpecan]

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@SouthJamaica wrote:

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@butterpecan wrote:

@Guyatthebeach @TryItAgain @800wannabe420 @MySunrise271 @CreditPal 

What credit type of score is needed to be approved for a CLOC? 

Also, I am a new account holder and opened a secured card a week ago, how soon can I apply for the CLOC? Any info someone here perhaps has will be better than what I've found so far searching through threads. Thank you...all of you! 

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1. There is no specific minimum credit score; they look at your whole profile. I would suggest not applying for it unless your score is 700 or more.

2. You can apply whenever you want to.

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Thanks for the reply, and clarification. I am going to hold off I'm not at 700. One day...

[TryItAgain]

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@MySunrise271 wrote:

@TryItAgain from initial application and approved for $500, how long before she requested an increase and was it for the additional $2500 or was it incremental to get to the $3k max🤔

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@MySunrise271Her initial was $1k not $500 back in January 2020, then requested more about a year later and for some reason they went straight to $3k, but I do not believe it said anything at that time about it being max.  Then nearly 2 years later a couple months ago, she tried again only to find out it was the max.  So for her it was 1k>3k>fail.

In my case I applied June 2014 and was given 8k, this before I knew to ask for full from My Fico forum. Then I requested max to 15k March 2015 and was approved.

So it seems like things have changed a lot how they do it now.

Also yeah @butterpecan What @SouthJamaica said is spot on.