Jump to content

Sign in to follow this  
prosper711

Should I bite on this Go Rewards invitation from Navy, they just denied a cli on new cash rewards card

Recommended Posts

I opened my Navy checking in January, on April 15th applied and got a Navy cash rewards for a low limit 500, but happy just the same. A few weeks later my credit score had gone up another 15 points, so I app'ed for a cli on 5/2, but denied. Haven't received the letter yet, but rep thought it was because the card was too new, and i should wait six months.

Today, May 8th I got an invitation to apply for the go rewards in the mail, saying "members like you deserve to be rewarded" and giving me an acceptance code. Should I apply for this? It would be my third inquiry this year from NAVY. I wonder if this offer just crossed in the mail with my first app, and if I apply again they will deny because I already have a card. Am I expressing my question clearly? Advice welcome. Would love another NAVY card but willing to wait.

 

Edited for salamanderic spelling error

Edited by prosper711

Share this post


Link to post
Share on other sites

IMO it is only worth holding 1 CC with NFCU since they have a max exposure. I would wait and apply for a CLI at the 6 month mark.

 

FYI, CLIs from $500 to $10K are not unheard of.

Edited by mendelssohn

Share this post


Link to post
Share on other sites

IMO it is only worth holding 1 CC with NFCU since they have a max exposure. I would wait and apply for a CLI at the 6 month mark.

Thanks for that. I agree, although they stated in the letter that this would be a low interest. I thought I could use one card with lower interest for any time I am carrying a balance, and the other just for the rewards and to be paid off right away. I also thought I might get a higher limit on the 2nd card because my score is 40 points higher than it was 3 1/2 weeks ago when I applied for the first card.

Share this post


Link to post
Share on other sites

The same happened with my fiance. He had the Cash Rewards card... got denied a CLI (asked to go from 2k to 5k) but approved GoRewards for 5k the next day. We later uped the limits several times and switched the GoRewards to the Flagship. He's had both cards less than a year.

Share this post


Link to post
Share on other sites

The same happened with my fiance. He had the Cash Rewards card... got denied a CLI (asked to go from 2k to 5k) but approved GoRewards for 5k the next day. We later uped the limits several times and switched the GoRewards to the Flagship. He's had both cards less than a year.

Thanks amandanicolem87. That is what I wondering also. If I applied would I really be approved the 2nd card, and was it really a preapproval.

Share this post


Link to post
Share on other sites

I would go for it. I got denied for a cli on my first card with them like three times and then got an offer for a Flagship card and got it with a 25k limit. so go figure.

Share this post


Link to post
Share on other sites

IMO it is only worth holding 1 CC with NFCU since they have a max exposure. I would wait and apply for a CLI at the 6 month mark.

 

FYI, CLIs from $500 to $10K are not unheard of.

Thanks for the update about the CLI increases. If they upped me that much in 6 months, it would be the only card I would need, because I never want to use more than 5k in credit cards, which would keep my util low. I can dream about that limit, lol.

Share this post


Link to post
Share on other sites

I would go for it. I got denied for a cli on my first card with them like three times and then got an offer for a Flagship card and got it with a 25k limit. so go figure.

Thanks Tyra. How long after your last cli request did you get the offer?

Share this post


Link to post
Share on other sites

 

I would go for it. I got denied for a cli on my first card with them like three times and then got an offer for a Flagship card and got it with a 25k limit. so go figure.

Thanks Tyra. How long after your last cli request did you get the offer?

 

Maybe two months. I don't remember exactly.

Share this post


Link to post
Share on other sites

My invitation was just about a week after my last request, so that is why I am a little wary. I might just wait to next month when my card is two months old. the offer is good to the end of june. Also it does include a $100.00 promo.


And I forgot, I got an invitation to apply for an auto loan the other day. but I am totally not interested in a car loan.

Share this post


Link to post
Share on other sites

I would go for it. It will just cost you an Inq on EQ which you can B*.

 

If you get approved, I would PC the GoRewards card to a CashRewards card after a few months.

The rewards on the GOReward card expires after 2 years.

Share this post


Link to post
Share on other sites

go for it... I sponsored 3 family members to NFCU and got paid 150 to do it..

 

Each one of them got luv from NFCU

 

I got Flagship on my first try... Just joined beginning of April 2014

Share this post


Link to post
Share on other sites

I joined the beginning of April also (my GF and I were both happily surprised by the referral bonus cause we didn't know). I apped for their nrewards and they matched the highest limit showing on my reports. I kinda wish I had waited but Discover still hadn't reported the CLI from March. :( Having 2 cards with 10k limits would be nice. I could rearrange my util easier.

Share this post


Link to post
Share on other sites

I joined the beginning of April also (my GF and I were both happily surprised by the referral bonus cause we didn't know). I apped for their nrewards and they matched the highest limit showing on my reports. I kinda wish I had waited but Discover still hadn't reported the CLI from March. :( Having 2 cards with 10k limits would be nice. I could rearrange my util easier.

 

Discover is weird like that... took 2 months for my last CLI to show up on all three CRAs....

Share this post


Link to post
Share on other sites

Thinking about it, I'm a more surprised they gave it to me now than I was then. I asked for an increase to 5k from 3k. They gave me 7k for a total of 10k now. The really weird part is that when I app'd last year I had better scores and utilization. I guess telling them I wanted the increase to improve my overall util was what they wanted to hear.

Share this post


Link to post
Share on other sites

Yea I have 3 Navy CC's - I say go for it too. Max exposure can become an issue but it totally depends on your profile, income etc...

Share this post


Link to post
Share on other sites

Update-Now I am getting more mail offers Invitations to apply for the platinum card and for a car loan, it is getting hard to resist app ing and getting a 3rd inq, gonna hit the button after my recent payment posts tonight...

Share this post


Link to post
Share on other sites

IMO it is only worth holding 1 CC with NFCU since they have a max exposure. I would wait and apply for a CLI at the 6 month mark.

 

FYI, CLIs from $500 to $10K are not unheard of.

Or more.. I went from 1k to 17.5k...

Share this post


Link to post
Share on other sites

So I did finally bite. Applied on the phone, rep asked more questions, then said it would be 3-5 days. Got a message that said within 1 day I would hear.

 

Next morning logged in-approved-for another 500 limit card. Somewhat disappointed I did call in for reconn. Rep put me on hold then came back and said they approved me for the maximum. I should try again on both cards in six months.

Share this post


Link to post
Share on other sites

I went from 2k to 12.5k in 1 month on the GO REWARDS card. Ask again in a couple of months.

 

I charged up a few hundred dollars and paid it off and had a $0.00 balance when I requested CLI.

 

Overall UTIL is around 9% and I am sure they pulled TU I will find out tomorrow. As EQ and EX are on ICE right now.

 

I am probably going to PC this in a few months for a CashRewards signature card as I don't care for the GoRewards.

 

I also have a Navy Flagship card.

Edited by SeekingWealth

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  




  • Today's Birthdays

    1. iliana
      iliana
      Age: 48
  • Member Statistics

    • Total Members
      177,972
    • Most Online
      1,956

    Newest Member
    time2getserious
    Joined

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines