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DSW89
Posts: 64
Registered: ‎11-17-2012
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NFCU approved CC then changed mind

This weekend I was approved for a NFCU nRewards mastercard. The limit was set at $1,000 I sent them a message through the message center asking that they reconsider the starting credit limit and they replied that after further review since I am on a debt management program they closed the CC account all together. I am so confused by this. I didn't know this could happen or I would have never asked for an increase. They had already mailed me the CC and everything. Has anyone else had this happen? it's pretty upsetting and our debt management is PIF in January. So bummed out I wasted an inquiry!

NavChek~ 13K.... nRewards MC~ 12K... CashRewards Visa sig~ 12k... NFCU Platinum Visa~ 10K... USAA Cash Rewards~ $2000... Chase Freedom~ $1500... Discover It~ $1500... Belk~ $1200.... Children's place ~$850... Walmart Store Card~ $1350... Amazon Store Card~ $1150...Victoria's Secret~ $500 Macy's~ $800

EQ~ 642
EX Fico~ 680
TU~ 686
Valued Contributor
Repo-ed
Posts: 2,960
Registered: ‎02-09-2012
0

Re: NFCU approved CC then changed mind

Your recon prompted a MR, thus the AA.

 

Personally, I am not shocked they did this, as I would have done the same. 

5/2012: 560 credit scores across the board and $500 secured CC
12/2014: 750+ scores across the board and $80k in revolving credit

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Frequent Contributor
obageegee
Posts: 271
Registered: ‎09-30-2012
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Re: NFCU approved CC then changed mind

Wow that sucks, I plan on apping there in 6 months.



Starting Score: 530 - 2/12
Current Score: EX - 720 EQ - 714 TU-690 WM-720
App free since 5/7/2014
Moderator Emeritus
webhopper
Posts: 7,225
Registered: ‎09-16-2011
0

Re: NFCU approved CC then changed mind


DSW89 wrote:

This weekend I was approved for a NFCU nRewards mastercard. The limit was set at $1,000 I sent them a message through the message center asking that they reconsider the starting credit limit and they replied that after further review since I am on a debt management program they closed the CC account all together. I am so confused by this. I didn't know this could happen or I would have never asked for an increase. They had already mailed me the CC and everything. Has anyone else had this happen? it's pretty upsetting and our debt management is PIF in January. So bummed out I wasted an inquiry!


You could always ask if you could go with the secured version of the card. ....     I'm sorry to hear this but fortunately  you will soon be in a position where you can get different products. 

 

Best of Luck!


Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
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Valued Member
LOC
Posts: 39
Registered: ‎06-27-2012
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Re: NFCU approved CC then changed mind

That is horrible




Starting Score: 565
Current Score: 660
Goal Score: 780

Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011
0

Re: NFCU approved CC then changed mind

that sucks but whille in a debt management program i could 100% understand why they would cut your account.... with a borderline score around 620 I would've been happy to just been approved for a unsecure card. I hope you luck but until your in primeville you shouldn't push for too much, atleast until your debt consolidation was completed. 

 

Just look at it this way, if you had trouble paying back your friends, who would lend you more money? =\


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Valued Contributor
Epcot
Posts: 2,789
Registered: ‎10-10-2012
0

Re: NFCU approved CC then changed mind

Sorry to hear that happened to you.

Starting Score: EQ 717 EX 724 TU 736
Current Score: EQ 816 EX 780 TU 823
App free since 4/11/13
Valued Contributor
trumpet-205
Posts: 2,505
Registered: ‎11-11-2010
0

Re: NFCU approved CC then changed mind

Well, to any prime lender debt management program is a big no no. Your reconsideration request prompted manual review. Nothing you can do about it.

In My Wallet:
Citi Forward (12/2010) | Citi Dividend (05/2011) | Chase Freedom (11/2011) | GECRB/PayPal (05/2012)
Discover it (07/2012) | AMEX BCP (09/2012) | TD/Target REDCard (10/2012) | Chase Ink Classic (11/2012)
BofA BBR (04/2013) | FNBO/Overstock.com (02/2014) | Barclaycard Arrival (04/2014) | FIA/Fidelity AMEX (04/2014)
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Valued Contributor
improvingmycredit
Posts: 1,402
Registered: ‎07-12-2011
0

Re: NFCU approved CC then changed mind

Hello!  Under a debt management program, I'd be more concerned that the lenders in the program don't see you are applying for more credit.  I'm pretty sure under the debt management agreement, you aren't supposed to seek new credit or you are in default of the agreement.  This could cause your current lenders on the program to raise their interest rates to the original levels and seek a new agreement.  Be very careful with this until you are out of the debt management plan.


Starting Score: 642
Current Score: EQ 773, EX 780, TU 777 (All FICO)
Goal Score: 800+

Cards: NFCU Flagship 50K, DC 30K, BCP 28.6K, Arrival+ 25K, Citi DP 22.8K, CSP 20.5K, TotalRewards 20.5K, QuickSilver 20K

Member
djc0198765
Posts: 9
Registered: ‎02-19-2012
0

Re: NFCU approved CC then changed mind

I know for sure BOA will termnate there DMP agreement if you get another card, and I am pretty sure they are not the only ones.  I was in a DMP plan for 2 years and earler this year PIF.  Even after you PIF it still takes 2-3 months for all your accounts to report clear and closed and also the "managed under a DMP" lables to be removed.  I would just hold out for a few more months and it will be easer.


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