NFCU and Barclays-Approval Odds?

[xangoboy]

Hi Everyone,

I've been trying to rebuild my credit lately.  I paid down my balances, and have 26% utilization.  I have an unpaid charge off with a $0 balance, and some late payments from 2011 and 2012, but have had perfect payment history since then. My current highest reporting line is $7k from my credit union.  My FICO scores are: 668 Equifax (DCU), 684 Experian, 679 TransUnion.  The Experian score was what I got from the CSR when I called about my AMEX Everyday application, I was denied.  Transunion score is from this site. 

I was going to go down and join NFCU, but I also wanted to app for their credit card and Navchek. 

So far I have some approvals (they are not showing yet)

CSP-$5k

NASA-$12k

DCU-$5k

Barclays (HawaiianAir)-Pending

I was denied for Comenity Total rewards visa, paypal credit, and AMEX ED.  The CSR at Amex said even if I attempted to apply for a charge card with them, the system would come back denied with my 684 score. 

Does everyone think I should wait till my new accounts are showing to apply for NFCU or pay down my balances more, or should I just try to go for it? If, I do go for it, with my scores and utilization, what kind of credit line can I expect? 

Also, is the pending Barclays application a bad thing?  Does that usually mean a denial? 

Thank you everyone, this forum truly is amazing!

[Anonymous]

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@xangoboy wrote:

Hi Everyone,

I've been trying to rebuild my credit lately.  I paid down my balances, and have 26% utilization.  I have an unpaid charge off with a $0 balance, and some late payments from 2011 and 2012, but have had perfect payment history since then. My current highest reporting line is $7k from my credit union.  My FICO scores are: 668 Equifax (DCU), 684 Experian, 679 TransUnion.  The Experian score was what I got from the CSR when I called about my AMEX Everyday application, I was denied.  Transunion score is from this site. 

I was going to go down and join NFCU, but I also wanted to app for their credit card and Navchek. 

So far I have some approvals (they are not showing yet)

CSP-$5k

NASA-$12k

DCU-$5k

Barclays (HawaiianAir)-Pending

I was denied for Comenity Total rewards visa, paypal credit, and AMEX ED.  The CSR at Amex said even if I attempted to apply for a charge card with them, the system would come back denied with my 684 score. 

Does everyone think I should wait till my new accounts are showing to apply for NFCU or pay down my balances more, or should I just try to go for it? If, I do go for it, with my scores and utilization, what kind of credit line can I expect? 

Also, is the pending Barclays application a bad thing?  Does that usually mean a denial? 

Thank you everyone, this forum truly is amazing!

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You should be fine with NFCU.  Go ahead and apply.

No, the pending with Barclays isn't a bad thing.  Check your application status online and then call in the recon number listed in the backdoor numbers thread.  Could be nothing more than verification.

[xangoboy]

Thanks Irish, btw, really enjoyed your ritz thread. I missed out on that offer!

What sort of limits can I expect with NFCU with my scores? And is my TU score borderline for Barclay's? I only had one inquiry on there before they pulled.

[jbsea]

Well I got a $7000 cc and a $5000 cloc from them with a 615ish score.   So you should be pretty good.  Great Bank your doing good by going to them.

[Anonymous]

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@xangoboy wrote:
Thanks Irish, btw, really enjoyed your ritz thread. I missed out on that offer!

What sort of limits can I expect with NFCU with my scores? And is my TU score borderline for Barclay's? I only had one inquiry on there before they pulled.

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What's your income level?

I dont one know about borderline but it would be at the lower range. Doesn't t mean that you won't get approved

[xangoboy]

Income is about $40k a year. But I have a side business that brought in $7k this year so far (no revenue from previous years). Can I use my side business income to help yield better limits?

My other concern for Navy isthat the will probably ask for bank statements. I can provide them, but I have my day job direct deposit into my business checking. I know I shouldn't have, but no bank would let me open a checking account due to chex. It's not until recently (last week) I was finally able to get my CU to give me one. So I'm moving my DD over to them, but that will take about a month. Do you think it would be okay to show Navy my business bank statements that have my business income and day job income deposited and show them my current statement from my CU (savings)?

Sorry for all the questions.

Thank You Again.

[xangoboy]

That's awesome! Congratulations! Gives me hope!

[Anonymous]

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@xangoboy wrote:
Income is about $40k a year. But I have a side business that brought in $7k this year so far (no revenue from previous years). Can I use my side business income to help yield better limits?

My other concern for Navy isthat the will probably ask for bank statements. I can provide them, but I have my day job direct deposit into my business checking. I know I shouldn't have, but no bank would let me open a checking account due to chex. It's not until recently (last week) I was finally able to get my CU to give me one. So I'm moving my DD over to them, but that will take about a month. Do you think it would be okay to show Navy my business bank statements that have my business income and day job income deposited and show them my current statement from my CU (savings)?

Sorry for all the questions.

Thank You Again.

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If you have documentation for the side job (NFCU likes either pay stubs or tax returns) then include it.  If they ask for bank statements then give them both your CU and business statement as long as business is clearly in your name.

Id think your CL would be similar to the NASA one, $12-15K.  Make sure you apply for the NavCheck as well and ask for the max, $15K.

[xangoboy]

Business is an LLC. Would I just include the articles of incorporation along with bank statement (if they request bank statement)?

[Anonymous]

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@xangoboy wrote:
Business is an LLC. Would I just include the articles of incorporation along with bank statement (if they request bank statement)?

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Yup.  Might not even come to that.  They don't  ask for POI from everyone.  I didn't need to provide any and neither did my g/f