Navy federal credit line increase rules
Navy Federal Credit Union has specific rules and guidelines for increasing your credit line. When requesting a credit line increase (CLI), it is recommended to ask for the maximum amount possible, which is $9,000. If the maximum amount is not approved, Navy Federal will automatically provide a counteroffer. For individuals who are new to Navy Federal, it is common to start with the Cash Rewards card. It is recommended to request a CLI every 91 days for the maximum amount of $9,000 until reaching the 12-month mark of owning the Cash Rewards card. At that point, you can consider switching to the Flagship card. On the personal side, Navy Federal typically offers a total credit limit of $80,000 across all credit cards. It is important to always request a CLI through the Navy Federal app rather than over the phone to ensure a smoother process. If you have two Navy Federal credit cards, it is possible to request CLI for both on the same day, with a soft pull within the app. However, calling for a CLI may result in a hard pull. For business credit cards with Navy Federal, the credit limit can go up to $25,000, with starting limits usually ranging from $10,000 to $15,000. It is important to note that requesting a CLI for business credit cards will result in a hard pull on your Experian credit report. It is crucial to consider your financial metrics and eligibility when requesting credit line increases to increase the likelihood of approval.