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NFCU Total Exposure?

The last post in this topic was posted 1708 days ago. 

 

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Does anyone know what NFCU's total exposure limit is? I currently have a $11.5K Visa with them and a $20K Mastercard. I asked for a CLI on the Visa to $15K last week and got my denial letter in the mail last night. Reasons for denial were: Too low of income (which I conservatively put at just over 6 figures), Credit limit on NFCU Visa, and Credit limit on NFCU Mastercard.

 

I would have thought my income would have supported a total of $35K with them. They made no mention of my CH7 BK in 12/2008, or my current utilization which is around 35%.

 

Thanks in advance for any input.

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I've got a 20k visa, 15k mastercard, and 15k navchek with a conservative income, but I've been with them for a little over a year. It started at 13k visa, 4.5k mastercard, and 15k navcheck

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Total unsecured credit limit is $95k (eg...$15k NavChek/Line of Credit and $80k Flagship Visa). That's the max amount any account holder can reach, depending on their income, credit, DTI, etc...

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Total unsecured credit limit is $95k (eg...$15k NavChek/Line of Credit and $80k Flagship Visa). That's the max amount any account holder can reach, depending on their income, credit, DTI, etc...

 

amazing!!!!

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NFCU has extended me unsecured credit/income at a 9/1 ratio, although it started out at 4.5/1.

 

As in you have $90,000 in unsecured credit for every $10,000 in income?

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My thoughts are the BK reduces the exposure limit, though you're really at some nice limits 3 yrs post!!!

 

:good:

 

 

This is exactly it. I have talked with NFCU and they told me that the exposure limit they will grant you relative to your income is affected by your credit score. The better your score/report, the higher DTI they will allow.

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Yea I have a BK too and I'm not sure where exactly I stand with them but we have this:

 

nrewards Visa: 18,000

Mastercard platinum: 10,000

NavChek: 5,000

cash rewards visa: 3,000

And I had a car loan with them that we just paid off which was like 23k... I dunno if that factors in or if that's separate?

 

My income is just over 105k. My Utilization is at like 10% I think.

Edited by cputrwz

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Wow....$95K exposure is pretty nice!

 

My credit cards with NFCU actually survived my BK. NF didn't so much as bat an eye while others (Chase, GEMB) rushed to close them even though they weren't IIB.

 

cputrwz, way to rebuild! I tried for the NavChek once upon a time (post discharge) and I don't think NFCU could mail me the decline letter quick enough! Are all of your credit cards/lines obtained after your chapter 7?

 

I'm sure part of the reason for the NFCU decline is because of utilization.

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Yes, they were all obtained after. The only surviving accounts I had were my student loans. I was declined for my NavChek as well, but I sent a reconsideration letter and it was approved.

 

I see you're a member of Apple FCU... are you in northern VA too?

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NFCU has extended me unsecured credit/income at a 9/1 ratio, although it started out at 4.5/1.

 

As in you have $90,000 in unsecured credit for every $10,000 in income?

 

Correct - in monthly terms, given that is their preferred metric.

Edited by erasmus33

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NFCU has extended me unsecured credit/income at a 9/1 ratio, although it started out at 4.5/1.

 

As in you have $90,000 in unsecured credit for every $10,000 in income?

 

Correct - in monthly terms, given that is their preferred metric.

So your saying $90k credit exposure to a person with $10k/month income right. That makes a little more sense than $90k credit to a person who makes $10k/yr.

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Yes, they were all obtained after. The only surviving accounts I had were my student loans. I was declined for my NavChek as well, but I sent a reconsideration letter and it was approved.

 

I see you're a member of Apple FCU... are you in northern VA too?

 

 

Nope. Northern CA

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While several of us are grandfathered in with the Flagship card with an 80K limit, Navy has changed the max visible on the website as 50K. This could be negotiable to a higher limit for those who qualify, but they no longer advertise as such...

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NFCU has extended me unsecured credit/income at a 9/1 ratio, although it started out at 4.5/1.

 

As in you have $90,000 in unsecured credit for every $10,000 in income?

 

Correct - in monthly terms, given that is their preferred metric.

So your saying $90k credit exposure to a person with $10k/month income right.

 

Right.

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While several of us are grandfathered in with the Flagship card with an 80K limit, Navy has changed the max visible on the website as 50K. This could be negotiable to a higher limit for those who qualify, but they no longer advertise as such...

 

That is not true, I spoke to a rep today when I applied for the Flagship Rewards the max on the Flagship Visa is $150,000 yes that is correct and the other cards top out at 50K, she told me there are folks with $250K-500K in lines. I think the more you make, the more they offer you. I make $160,000 and they gave me 25K out the box and with good payment history the sky is the limit! I swear those are the nicest folks!!!

 

 

 

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Total unsecured credit limit is $95k (eg...$15k NavChek/Line of Credit and $80k Flagship Visa). That's the max amount any account holder can reach, depending on their income, credit, DTI, etc...

Is secured debt with them included in the maximum total exposure calculation? Or is the 95K number total unsecured exposure only?

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/>While several of us are grandfathered in with the Flagship card with an 80K limit, Navy has changed the max visible on the website as 50K. This could be negotiable to a higher limit for those who qualify, but they no longer advertise as such...

That is not true, I spoke to a rep today when I applied for the Flagship Rewards the max on the Flagship Visa is $150,000 yes that is correct and the other cards top out at 50K, she told me there are folks with $250K-500K in lines. I think the more you make, the more they offer you. I make $160,000 and they gave me 25K out the box and with good payment history the sky is the limit! I swear those are the nicest folks!!!

Just to confirm. A few years ago, the "advertised" max was 80K. Now the advertised max is 50K. However Navy may grant the limit higher based on usage..... :wave:

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/>While several of us are grandfathered in with the Flagship card with an 80K limit, Navy has changed the max visible on the website as 50K. This could be negotiable to a higher limit for those who qualify, but they no longer advertise as such...

That is not true, I spoke to a rep today when I applied for the Flagship Rewards the max on the Flagship Visa is $150,000 yes that is correct and the other cards top out at 50K, she told me there are folks with $250K-500K in lines. I think the more you make, the more they offer you. I make $160,000 and they gave me 25K out the box and with good payment history the sky is the limit! I swear those are the nicest folks!!!

Just to confirm. A few years ago, the "advertised" max was 80K. Now the advertised max is 50K. However Navy may grant the limit higher based on usage..... :wave:

When you request a CLI, it lists $80K as the max for the Flagship. Maybe higher is possible? But 80K is still the advertised max.

Edited by mendelssohn

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Total unsecured credit limit is $95k (eg...$15k NavChek/Line of Credit and $80k Flagship Visa). That's the max amount any account holder can reach, depending on their income, credit, DTI, etc...

Is secured debt with them included in the maximum total exposure calculation? Or is the 95K number total unsecured exposure only?

 

I would like to know the answer to this as well.

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Total unsecured credit limit is $95k (eg...$15k NavChek/Line of Credit and $80k Flagship Visa). That's the max amount any account holder can reach, depending on their income, credit, DTI, etc...

Is secured debt with them included in the maximum total exposure calculation? Or is the 95K number total unsecured exposure only?

 

I would like to know the answer to this as well.

That number is for unsecured debt only.

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Total unsecured credit limit is $95k (eg...$15k NavChek/Line of Credit and $80k Flagship Visa). That's the max amount any account holder can reach, depending on their income, credit, DTI, etc...

Is secured debt with them included in the maximum total exposure calculation? Or is the 95K number total unsecured exposure only?

 

I would like to know the answer to this as well.

That number is for unsecured debt only.

 

 

Thank you sir

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