You need to wait for at least 3 months after opening your account before asking Navy Federal for a credit limit increase. You should also wait a minimum of 3 months in between future credit limit increase requests. If you request a credit limit increase, you will be asked to give Navy Federal permission to do a hard pull of your credit report. This lets them assess your creditworthiness. The hard pull will cause your credit score to dip a few points. But your score should rebound quickly if you continue to use your card responsibly.
To request an NFCU credit limit increase, you can log in to your online account or send a secure message through online banking. You can also call customer service at 1 (888) 842-6328. Be prepared to provide your employment status, annual income and the amount of your monthly rent or mortgage payment.
Navy Federal may also extend you an automatic credit limit increase – as often as once every six months but probably not so frequently. The evaluation for an automatic increase uses a soft credit pull, which does not affect your credit score. While Navy Federal will periodically review your account, there’s no guarantee they will give you an automatic increase. You can help your chances by always paying on time and keeping your credit utilization below 30%.
I recently did a Navy card increase online... about 1.5 years ago I applied for and approved on my 1st NFCU Platinum card for $5600. @ 7.49% apr. fast forward 1.5 years later I pushed the "increase my credit limit" button for that card, entered in the amount I was requesting, and INSTANT approval for $14,000 ...!!! I asked for $15k. But best part about it is was only a SOFT PULL...!!! None of my alerts where going off of any recent hard pulls !!! So 3 months later they only did a SOFT PULL for the luv button for me online...!!! NFCU for me is TOP NOTCH... I have the World MC $25k, the Plat $14k, and currently processing my house Refinancing... I refinanced my truck through USAA, ONLY because they had a deal going on at the time, OR I would of should of done it thru Navy...!!! So go ahead & Hit the luv button from your account online... I did, and worked out GREAT..!!! That was done approx 7-2019 :)
Do not attempt a credit limit increase through customer service line, use the online application. If it is close enough to the initial credit pull (let's say just more than 91 days) they will not do a hard pull. If you wait closer to a year, they may. I also believe the late night hack works as well. Apply online after 11:30 pm Eastern Time, after their credit group goes home, this will increase your odds of approval for the increase.
Requesting a credit limit increase will likely trigger a hard inquiry and cause a short-term decrease in your credit score. Receiving an automatic credit limit increase (i.e. your issuer increases your credit limit without you asking) will not hurt your score. No matter how you receive a credit limit increase, it will provide long-term credit-score benefits to responsible users.… read full answer
A credit limit increase will give you access to more available credit to use. As a result, you will get a better credit utilization ratio, assuming your spending does not increase, too. The lower the ratio, the better your credit score. If you continue to spend and maintain a high balance on your account, you will see a negative impact on your credit score. A credit limit won’t help your credit score if you just max it out immediately.
You have the best chance of getting a credit limit increase without asking after 6-12 consecutive months of on-time bill payments with a new credit card account. Credit card companies need evidence that you can handle your current spending limit responsibly before giving you the ability to borrow more.
Creditors will review your credit, income and payment history on a regular basis moving forward. If they feel you can afford an increase and refrain from abusing the added spending power, they may automatically grant a credit limit increase without you asking.… read full answer
If you get a credit limit increase without asking, it should help your credit score. To start off, issuers only use a soft inquiry (which does not affect your credit score) for this type of increase. If you ask them for an increase instead, they’re more likely to use a hard inquiry, which can cause a temporary drop in your score. In addition, getting any kind of credit limit increase adds to the total credit you have available, which can lower your credit utilization if you spend the same amount of money (or less) than you did before. Or, it can allow you to spend more without increasing your utilization.
If you want to increase the chances of a credit card company giving you a higher limit without you having to ask for it, there are a few steps you can take.
How to get a credit limit increase without asking:
Always pay all your bills on time.
Pay off the card you want the higher limit on fully each month.
Update your income on the credit card company’s website/app.
Keep your account open for at least 6-12 months.
These steps won’t guarantee you a credit card limit increase without asking. But they will certainly help your chances.
If your credit card’s issuer doesn’t grant you an unsolicited increase, you may want to just ask for an increase yourself. While your request will probably lead to a lower credit score, the damage will be small and temporary. And in the long term, a limit increase has the potential to bring your score higher.
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