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Navy Federal - wow!


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Background: i have clean credit reports for all three bureaus, CK FAKO of 712, Quizzle score of 678. Opened a Navy Federal e-Checking account 2 weeks ad and made an initial deposit of $500.

 

 

I had heard that they are pretty generous with initial credit lines, so today I decided to test out that theory... called to open a NavCheck line of credit, requested a $5,000 line and was approved almost instantly! (The rep had to call the underwriter with all my info and the process took about 5 minutes.)

 

After that, i went online and applied for their Visa cashRewards credit card. I got the standard 'your application is under review..." message, but i checked my Account Services tab just now and it says I've been approved for a credit limit of $20,000!!!

 

I'm pretty floored... my highest revolving LOC before this was my Citi Forward card with an $8k limit. Now I have a new hard inquiry on my record, but these two accounts should drop my utilization pretty dramatically!

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Definitely ask for the full $15k LOC if you were approved for that high of a credit card limit! Congrats!

Thank you! If i asked for a LOC raise on the NavChek, would that be another hard inquiry, or no? I'm not planning on overdrafting anytime soon, hehe... I'm happy that will increase my total available credit though.

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Well I called and was accepted for 15k Navcheck conditionally; I must send them my bank statement, proof of income. Fun. I mean I don't blame them. I am not complaining; they could have just said no. I just get tired of scanning stuff. :-) Could be worse - they could ask me to bring it to the local branch!

 

dbw

Edited by dbwCredit
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