So I have been lurking on myfico for a few months now. My TU is 632 and my EQ is 633 from Myfico. Today I was approved for a visa signature cash rewards with a 8k cl. I just opened a checking and savings account today. Had trouble with logging in online and the csr walked me through and said I was offered a credit card. I said go ahead and she transferred me to another lady and she ran the app and came back with the news. I was in total shock. She then started asking if I had a car loan. Well I did, so she was telling me about the offers they have going on now. So tonight when I got home I got all the info and applied. I got the 3-5 Day review message. Well I just checked it again about 10 mins ago and it showed declined. I'm happy about the new cc but would have loved to get the refi. Still working on the baddies though. The DTV is from Feb. 2011 I have a bill saying 0 balance after the equipment was returned and after they tacked on the cancel fee. Im waiting to here back from them.
My CR is like this
Bad
EXP: 5 Collections ( DTV Utilities 3 Medical)
EQ: 3 Collections ( DTV Utilities 1 Medical)
TU: 7 Collections ( DTV Utilities 5 Medical)
Good
4 Auto loans all paid on time never late 1 open 3 closed
1 Boa au from my mom 411/500
Any ideas why they denied me? When I get the letter I will call them to see if they will recon.
Anthony
Ask them to reconsider. They are very pleasant to deal with.
100% Ficos: EX 780 , TU 783, EQ 776 inquiries last 2 years/1 year/6 months: EX-0/0/0, TU-0/0/0, EQ-1/0/0~ last credit card app 6/24/13- New car loan 3/8/2014- Discover IT $12,500~Kohls $1000~Amex BCE $4000~ Walmart Discover $7500~NFCU Signature CashRewards $23,300 Chase Freedom MC $6000~ Chase Amazon Visa $1900~ Cap 1/HSBC MC $3800~ Amazon Store $7000~ Fingerhut $1050
Sometimes with the car loans it could be the loan to value LTV is to high for them. For example new car is $33,000 when you buy it, it turns 2 years old and it's value is now 21,000, however you owe 26,000 still. They will not loan you the $26k for a $21k car. Usually that is what will get people on the refinances.
With NFCU, they are very pleasant to talk with. You should not have to wait for the letter. You can call the loan department and talk to them, they will update the app with notes and send it back to the credit review department and provide an updated decision within 2-4 hours.
Best of luck.
