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Contributor
Mopar_Jones
Posts: 205
Registered: ‎06-10-2013

NFCU REFI

So as you can see from my siggy, NFCU likes me a little bit. However, they denied my last request for a $23k finance on my 11' Ram. Why? I got the typical, too many inqs, too high of a balance on revolving accounts and derogatory accounts reasoning.. but I don't understand why exactly? I have $60k unsecured from them, only have $19k used. My FICO as of this morning is 679 and my BK is 5.5 years old. What gives? The reps were not that helpful as far as explaining why to me.. but apologized and said apply later.

Valued Contributor
dodfire
Posts: 1,453
Registered: ‎04-14-2012

Re: NFCU REFI

It could be just as they stated. 

It looks like you are pretty high on your UTL with NFCU revolving.

What is your total UTL across all your accounts?

How many recent inquiries do you have?

*8/10/13
Community Leader
Valued Contributor
HoldingOntoHope
Posts: 1,057
Registered: ‎09-29-2009

Re: NFCU REFI

I agree with the above poster. What NFCU is saying is "At the moment we have all the liability we are willing to extend to you." If you paid down your CC utilization significantly and left it down for a few months they would probably jump all over it. But with the 33% utilization and the previous BK their risk analysis says it is not a good bet for them right now. Nothing personal - it's business.:smileywink:

Best financial advice I ever got: "Just imagine what an adult would do and do that."

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Contributor
Mopar_Jones
Posts: 205
Registered: ‎06-10-2013

Re: NFCU REFI

My utilization is like 30ish%.. but the thing is, after they denied me for the auto loan, they increased both my cards and my nav check.. 18k on one card, 12k on the other and 5k on the nav check. I was only asking for $23k??

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