welcome back to success with Steven my name is Steven Smith and today we're going to be talking about the Navy Federal Flagship Visa card and how you can get an $80,000 credit limit on this card you can even do this with bad credit as well and this is something that I have been doing since I started my credit repair journey and um even now I'm continuing to do this and it's a really really cool strategic method that um I feel like a lot of people sort of talk about it but they're not they don't organize it in the steps that you I believe should take to do it effectively quick so we're going to talk about how even with bad credit you can get $80,000 from Navy Federal I'm also going to uh give a nice bonus tip at the end and then we're going to um also show how even if you do have bad credit bad or good the time frame that this is going to take is almost going to be the exact same or very very very close so no matter where you start you're still going to all end up in the same position no matter where you are creditwise and of course on this channel I do have resources for uh credit repair lots of videos on collection removal hard inquiry charge off so you guys can check that out as well but without further Ado let's get right into the video if you are not a member of Navy Federal you probably are thinking why does every every body talk about this one particular Credit Union and there's a big reason why Navy Federal is the country's largest Credit Union with around 168.5 billion in total assets and 13.2 million customers and this was only at the end of 2022 and that's according to the latest data so they've also been known to give out High limits you've probably heard that that they give out very very high limits reason that they can is because they're not traditional institutions the money that they're able to lend is based off of what the members have that are a part of the credit union so because of that and they don't do the usual traditional financial institution um they don't go through the same type of structures you will get a lot better interest rates you'll also get a lot better funding and it also will give you more of a reason to actually deposit money and leave it inside of your credit union again a lot of the the amounts and loans and credit lines that they're able to give out they're able to give that out because of the money that you leave in their bank so consequently because you do that you're actually able to um get a internal score that raises your value as a member and also will give you products and services so you're actually rewarded in the sense with a credit union like Navy Federal for leaving money being a good client having products and services with them so it's it's about building relationships in this particular case tra traditional Banks it's more of a transactional um type of relationship with Navy Federal it's all about building trust and that's the difference that you're going to get with this particular credit union now a lot of people want to know how to become a member I recently did a video on the Navy Federal pledge loan where I talked about that becoming a member is not difficult if you would like to be one you can be become one of course through military affiliation and some people will say well I'm not in the military for the most part because of the amount of like our military is very very large there are a lot of individuals who are in the military in some way form or fashion so no matter what I can almost assure that you're associated with someone in the military in some way you just may not have realized it yet um so in my previous video about the loan I discussed a few ways but of course I'll go through the obvious ones immediate family your parents your grandparents your spouse your siblings your children including um adopted or stepchildren grandchildren um if you have a household member if you have a roommate and you pay half of the rent if they're in the military or they are a part of Navy Federal you can also become a member that way they Al They also can provide you with an access code if you have children that are in Roc you can become a member if you work for the Department of Defense and you're a civilian then you can become a member if you're a veteran then you can become one um there is a lot of ways that you can become a member of Navy Federal and the one that people ually say is the backdoor method it's not any backdoor you can become a member if you had a family member who was also in the military that may have passed or be deceased if you have a grandfather who was in the military and remember you know maybe what branch that they were in you can call this number here today and you can tell them that you had a family member who was in the military but they passed and um you know you don't have them here to be able to vouch for you but they were in the military tell them the branch just give them some of the information you can become a member that way as well so plenty of different ways that you can do it um and it's again it's not too difficult um so I would suggest that you look at that or again if you have someone who's in the military who is family right now or a friend they can also provide you with an access code and like I was saying before everything with Navy Federal is based on relationship so because they're this relationship financial institution you are able to get much better interest rates limits loans it makes it so much easier and that's the reason why a lot of people like to use Navy Federal I also like the fact that you can get up to $80,000 with one credit card from Navy Federal the reason why I like that um you should have multiple credit card products but if you're rebuilding credit and you only started with one credit card the reason why I would recommend this one is because you can start it and increase this limit slowly as time goes on to get it up to a maximum limit of 80,00 if I had to pick one credit card that I knew could do that I would definitely pick Navy Federal that's the reason why when I started to rebuild I started with that because I knew over time I can rebuild and get the maximum limit here even if I had bad credit I would still be able to do so now let's get into this strategy that I'm referring to again all of my all these tips are just strategies based off of information and I just want to compile it in a very simple and easy way for you to understand and hopefully execute on so you want to open a checking account and savings account with Navy Federal that's pretty obvious you want to become a member you can use the exact same um methods that I gave there hopefully one of them apply to you again if you had any member of your family in the military you can then call them and become a member all right now if you open a checking account and savings account with them that's going to be the first step and I recommend opening up a flagship checking and a money market savings account and then you should keep that account open for 90 days before you apply for anything now I do want to say if you have good credit you can apply for credit cards right away with them but all based off of research if you were to open an account deposit money and build a relationship with them first wait 90 days you're likely to get a higher limit even with your credit being good you may have only gotten $55,000 you took maybe 90 days and built a relationship you may get a credit card where the starting limit might be $10,000 so just something to think about but if you already opened an account with them and you already have a product like a pledge loan or something like that that's okay nothing's wrong with that um that's just something that I if you haven't done it yet that um I would recommend now I want to talk about some of the features with the flagship checking account really really briefly you do get dividends with this account so they will pay you a bit of interest for keeping your money there if you have between 0 to $9,999 you'll get 0.35% if you have 10,000 to 24,99 uh $99 you'll get [Music] 0.40% anything over 25,000 is 0.45% now these aren't the highest percentages but I believe if you're going to leave your money somewhere you might as well get something for it uh these tiered Dividends are based on balances and you earn these dividends with keeping a daily balance of at least $1,500 for the flagship checking account the reason why I recommend having this account is because the more money that you leave with um inside of Navy Federal the more money that they're able to loan out and also make so um I believe because I've worked at a few banks that when you have our Premier Products they always will because every bank has a similar type of internal scoring system Navy Federal has a well-known internal score these types of products help increase your internal score because they require you to keep more money now for the money market savings um that one is going to be a uh 0.25% interest that you get from having 0 to $99,999 you also get a percentage for 100, 250 500 and 1 million Etc um and there is uh again no monthly service fee for this one as long as you have an average uh daily balance of $1,500 or more it's $10 for the service fee if you have less so you definitely want to make sure that if you're starting off with these particular accounts you're leaving $1,500 in both accounts you won't get any fees um and you'll also again build your internal score with Navy Federal by setting up direct deposit you want to do that as well and opening up these particular accounts all of these will help you so if you're starting off with Navy Federal and you want to put yourself in the best position to get high limits set up direct deposit with the flagship checking and the money market savings account make frequent deposits or as you get paid just do them by by- weekly let them just go in there for direct deposit um and then you want to wait 90 days these are all really really good things if you also want to get additional products if you want to get a pledge loan if you want to get an auto loan um you know that's something that you can do I would wait the 90 days uh just before getting anything if you can now here is our next step for the next step we're going to apply for a credit card so if you decide to wait the 90 days uh during that time you major deposits you open up the accounts that we just talked about uh this will have built your relationship and will increase your internal score with Navy Federal the first thing I would do before applying is going to Navy Federal's pre-qualification Page by providing them a few pieces of information uh they can run a quick credit check with no impact to your credit score to see if you're eligible to receive a specific card before submitting your application now I will say that if you submit MIT this and the only card you pre-qualify for is the in rewards card that is okay that's okay I'm going to go through all the scenarios for if you have bad credit Fair Credit and great credit we're going to go through all the scenarios okay because the beauty of this is no matter what you're going to qualify for something if you qualify for the secure card and you're rebuilding your credit that's okay because you will still be able to get uh to get this this this uh secureity card it will be a $200 deposit that you will have to give them at least and that's going to be the collateral for you to get this card but this is how I started with Navy Federal I started with a secure card because that was all that I qualified for at the time it is okay if you have Fair Credit you may qualify for the cash rewards card or the gold rewards card maybe even the more rewards card now if you have excellent credit you'll probably qualify for the flagship uh rewards card so with Navy Federal you may only have three credit cards and the total limit you can have is $80,000 the reason why we're talking about the flagship is because it's the only Navy Federal card that you can have a limit of $80,000 on every other card that Navy Federal has the go rewards the cash the Platinum um the more rewards they can only have a maximum limit of $50,000 so technically you can split it between them like you can have a 20K cash rewards uh uh 15K on the go have 35,000 on the flagship and you can split the limits amongst these cards to equal up 80,000 what I think is easier is just getting one card all right so once you apply or once you pre-qualify you see your options if you qualif if you're pre-qualified for the flagship my recommendation get the flagship the good thing about the flagship it has a minimum limit of $5,000 if you only qualify for the cash Rewards or the go rewards uh pick one of those and if you only qualify for the secure card pick the secure card okay now here is the good thing about the secure card and we're going to go over that with the with the next um the next section um but the good thing about the secur card is if you have it after 6 months they're going to try to qualify you for a cash reward you graduate they refund your deposit you get your deposit back if it's $200 or whatever the case is they'll refund it back to you um and then you'll get a $2,000 credit limit for me personally they were sending me emails 6 months months after I got the secureity card once they sent me the emails um they tried to evaluate my credit worthiness to see if I was able to uh graduate I was not in the first six months it took exactly one year they waited one year and I still had um I still had charge offs I had at least two still on my credit report so that lets you know right there even if you have charge offs and maybe your credit score isn't the strongest you can get the secure card keep it for one year and chances are you'll graduate and you'll graduate to a $2,000 credit limit and they will send you a cash rewards card and then that'll kind of take you up to what we're going to be doing here so if you qualify for the secure card you will have to wait until that card graduates to continue this process once it graduates then you can move on to this next process which is going to be the credit limit increases now now for our Fair Credit people I'm going to start as if you qualified for the cash Rewards or the go rewards and let's say that you started off with a with a credit limit of 5,000 for Navy Federal when it comes to the cash rewards go rewards any of the credit cards that that you qualify for that's not the secure card it's not the in rewards they have a 913 rule so Navy Federal requires you to wait 91 days or three statement Cycles before requesting a credit limit increase this is when you initially open up your card and the maximum limit increase you will receive is $8,000 all right so check this out if you were to let's say get a cash rewards card with a limit of let's say $5,000 in exactly 91 days or three statement Cycles you can then request a credit limit increase of $88,000 you would have a $113,000 limit you would have a $113,000 limit so for the people who have the cash rewards for the people who have the go Rewards or the flagship card 91 days after you get that card request a limit of $8,000 right because that's the maximum that you could get you can't get any more request that limit as long as you've been using the car responsibly hopefully you've been you know taking care of your credit and doing everything else that you need to to do you will be good all right uh a tip for you if you're going to be actually trying to request this limit increase pay your utilization down across all of your credit cards get it to 10% or below not zero but 10% I probably wouldn't do it lower than five but 10% pay that off make sure you don't have a you know a large balance on your card but you can show that you're actively using it do these things to maximize your credit score before you request the credit line increase you want to make sure everything looks good before we ask for more credit we got to make sure this is look this is looking good before we request it so make sure that you do that because then you'll more than likely get the increase now for the people with the secure card back to you guys if your C graduates and you get the $2,000 credit limit you cannot do the 913 rule that's not you have to wait till 6 months which brings us to The Next Step so after you've asked for a credit limit increase in the 91 days you can only ask for a limit increase every 6 months or 180 days going forward with Navy Federal so in the first 3 months we get our first one cool 90 days 91 days now we have to wait 6 months for our next one so realistically whatever whatever credit limit you start with within the first 9 months you can already add an extra $116,000 to that limit okay you can add that much more so if you have the secure card option that graduated to the cash Rewards Card here's my recommendation after 6 months ask for a $8,000 increase you can then do a product change after having that card for one year you can do a product change to the flagship remember the flagship is the only card that can have $80,000 for a limit if you do not have the flagship you cannot have the full 80,000 on that one card now if you want to just apply for another card and split it up then you can but just know that you that is the only card that that does that but after one year of having that same product you can request a product change as long as you have a limit of at least $55,000 so if you have a cash rewards card that's $2,000 and you gra you you graduated from the in rewards within that 9 Monon time frame you can now uh get more than $88,000 for your limit and now you can do a product change to a flagship which is perfect because then now at this point you'll have a $110,000 limit remember you can only get two when it graduates limit increase $8,000 now you have 10 product change to to the flagship you are locked in now you have a $10,000 Flagship card that's if you started from the N rewards card and had to graduate for our people who are in the middle um you could start off with $5,000 maybe and then you'll get $8,000 you're at 13,000 within the first n months with a flagship card if you decide to do a product change now after we do a product change um you're going to request a limit of $88,000 every 6 months until you reach the maximum limit of $80,000 while this may sound like it's very tedious it's really really not and I just want to give you an example if you started with a limit of $5,000 with 5,000 it would take you around 4 and a half years to reach the full limit of $80,000 for your credit limit now for my people who have good credit and you started with let's say you did the 90 days you made your deposits you built your internal score up very very very well there's a chance if you apply for the flagship you might start out with a $225,000 limit so you might start a little bit ahead but here's the kicker if you started out with a $25,000 limit it would still take you around three and a half years to reach the full $80,000 credit limit it would still take three and a half years if you started from the $4,000 from the $5,000 limit which is going to be like the base to get the flagship then it'll take you around 4 and 1/2 years so the thing is even if you started in the middle even if you started with bad credit the amount of time that it would take you with bad credit might be 5 and a half years Fair Credit starting at 5,000 would be 4 and a half years excellent credit starting out with 25,000 would take you three and a half years so in my head I'm like it's not that much of a difference of how long it can take it's it's really not that long we're kind of all within the same ballpark and and if you play your cards right and that's why it's important to build the relationship first the higher you start out with the less time it'll take so I would say you can get up to the $80,000 in as quickly as three and a half years middle starting from the middle I would say four and a half starting from fair to bad well bad credit probably if you're doing the secure card I would say 5 and A2 years and then in that time frame I mean every 6 months except for the initial 91 days you're going to be increasing by $88,000 that's going to do a lot of great things for you like I've said before if you um some of the executives at FICO they have said that the other credit card limits that you get approved for are usually based on the credit limit that you currently have so if you have a $10,000 credit card with B Navy Federal and you apply for a card with Chase there's a good chance that they're going to approve you for a $10,000 card because they see what you are currently getting from somewhere else all of this stuff will only just help you and it's just going to keep gradually increasing over time so as time goes on all this will do is just Aid you in the process of getting higher credit limits from other financial institutions including business credit which brings us to the next thing now I have an entire video where I talk about getting the gold Biz reward cards I give you step by step how when you start an account with Navy Federal from day one you can open up your business account which I did and I also have the go Biz rewards card so with this card you can get up to $25,000 with no docs and I started out with a $115,000 limit probably because I did build a relationship with Navy Federal for a while I did have to wait until my Experian credit score did get to a certain point before I applied for this so I did have an account with Navy Federal for over a year and I did have to wait until I removed all derogatory marks from my credit score to apply for this card but they did start me out with $115,000 I was able to raise my credit limit on there now so $23,000 is where it's at and um you know I'll get the last 2,000 in another 6 months so if you wanted to get technically $115,000 between just Navy Federal alone you can get up to $80,000 on the personal side and then you can get an additional $225,000 on the business side so if you wanted to you know if you started off at $25,000 with the flagship and you have a business become a do a sole proprietor ship and then apply for the Navy Federal uh go rewards Biz card try to get another 25,000 on that side and you can get $50,000 between both of these cards you know kind of right out the gate um and I mean from that time if you also did an extra $116,000 within your first year cuz again you could do $ 8,000 91 days 6 months later another $8,000 you know now you're at like $66,000 that you have basically within a one-ear time frame from this one financial institution that's the reason why it's so it it's just really really such a great credit you and why you should definitely be looking at doing this I mean getting access to $105,000 within that short period of time is amazing to me again not to mention the great benefits that it'll Aid you when you're applying for other banks that usually will want you to do a whole lot just to be able to you know get higher credit limits with them they're just going to look at what you have with other institutions and say hey well if they gave him $10,000 $10,000 must be what he can handle or if they gave him 25,000 well maybe he can handle 20,000 over here let's see so if you guys want to check that out um my recommendation is that you go to um or I'll probably put it like somewhere right here I recommend that you watch that video again I go into great detail about how you can qualify for this card um it's it's it's very very very simple um and you can get this on the Visa or Mastercard side they have both affinities um I recommend going with going with MasterCard that's the one that I started with but you can also go with visa and you can also change it um I've also seen where someone got both the MasterCard and the Visa within a very short time time frame um but from what I understand even if you get both affinities you don't get 25,000 from both they will split your limit so um you can play with that and test that theory out as well um but either way it's a very very good option I recommend you doing that so once again uh thank you guys for watching this video um if you have any questions about this strategy if you're currently a member of Navy Federal uh please uh drop that in the comments um let anybody know how long it took you to maybe raise your limit what was your starting limit what's your limit to today um have you guys you know noticed that the strategy kind of is what you're going through now where every time you get a credit limit increase they're only allowing you to get a a maximum increase of $88,000 I'm not sure if everyone noticed that but it will only be $88,000 um every 6 months after the first 91 days so you can kind of plan out exactly how long it'll take you to get to whatever credit limit that you're trying to achieve um so with that said thank you guys for watching very much appreciated and you have a wonderful day