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Denied $500 CLOC NFCU

Regular Contributor

Re: Denied $500 CLOC NFCU


medicgrrl wrote:
How's your income and employment history look? My son has scores around 700 and was denied also. I think it's due to his short employment history with his current employer.

I'm self-employed but it's verifiable with 1099s and bank records if they asked. I've been doing the same thing for about 6+ years now, and self-employed in another field for 20.

 

i never write checks, I only use my debit card or bank transfers. I just want something with them other than a secured card to get my foot in the door, because I just can't spare $500 right now and I already have two secured cards elsewhere. I have a kid in the hospital and I'm staying with him and money's tight for the next few weeks. 

 

I guess I'll just wait longer and maybe they will suddenly see me like they see other people who get in with low scores. Fingers crossed. 

06/2017 FICOs: TU: 542 EX: 538 EQ: 528
07/2017 FICOs: TU: 564 EX: 564 EQ: 559
08/2017 FICOs: TU: 598 EX: 597 EQ: 584
09/2017 FICOs: TU: 621 EX: 615 EQ: 608
09/2017 FICOs: TU: 633 EX: 620 EQ: 608
Valued Contributor

Re: Denied $500 CLOC NFCU

Over 600 score ,Ok income and not crazy debt you'll get full 15k

Established Member

Re: Denied $500 CLOC NFCU

Just a suggestion based on my own ecperience...and trust me I am no expert, just learning.

The impression I got when exploring options via telphone with them was that the CLOC was way harder to get than a CC and thier Platinum Card had a different credit evaluation model than thier rewards and cash back cards.

My opinion, if you're ground floor looking up and the timing is right on measurables like debt/income ratio, is to open your NFCU door with the basic Platinum card. Also...a conversation on the phone will really help. At least it did in my case. I merely ASKED about the secured card process and at the end of my call I was approved for Platinum @ $3100.

Best of luck to you when you decide the time is right to try again.
Valued Contributor

Re: Denied $500 CLOC NFCU


numbershunting wrote:
Just a suggestion based on my own ecperience...and trust me I am no expert, just learning.

The impression I got when exploring options via telphone with them was that the CLOC was way harder to get than a CC and thier Platinum Card had a different credit evaluation model than thier rewards and cash back cards.

My opinion, if you're ground floor looking up and the timing is right on measurables like debt/income ratio, is to open your NFCU door with the basic Platinum card. Also...a conversation on the phone will really help. At least it did in my case. I merely ASKED about the secured card process and at the end of my call I was approved for Platinum @ $3100.

Best of luck to you when you decide the time is right to try again.

No it does not. The only card with different criteria is the Flagship card. 

Moderator

Re: Denied $500 CLOC NFCU


tydawg wrote:

numbershunting wrote:
Just a suggestion based on my own ecperience...and trust me I am no expert, just learning.

The impression I got when exploring options via telphone with them was that the CLOC was way harder to get than a CC and thier Platinum Card had a different credit evaluation model than thier rewards and cash back cards.

My opinion, if you're ground floor looking up and the timing is right on measurables like debt/income ratio, is to open your NFCU door with the basic Platinum card. Also...a conversation on the phone will really help. At least it did in my case. I merely ASKED about the secured card process and at the end of my call I was approved for Platinum @ $3100.

Best of luck to you when you decide the time is right to try again.

No it does not. The only card with different criteria is the Flagship card. 


+1

 

I think that perhaps because Capital One calls their entry-level card 'Platinum' it causes confusion with the NFCU Platinum.

 

At NFCU, you can freely PC from one card type to another practically at will, they just adjust the APR to reflect the rewards (or lack thereof) on the new card type.  The only card they have that has different underwriting is the Flagship due to the $5k minimum credit line, just as @tydawg mentions.  That said, as long as you have at least a $5k credit line you can even PC to the Flagship.

 

If it were 'easier' to get approved for the Platinum, everybody would just apply for it then change over to a Cash Rewards/goRewards, etc.

Regular Contributor

Re: Denied $500 CLOC NFCU

I'm going to work on getting my score up by paying off some balances ASAP and try again when my score is over 600.

06/2017 FICOs: TU: 542 EX: 538 EQ: 528
07/2017 FICOs: TU: 564 EX: 564 EQ: 559
08/2017 FICOs: TU: 598 EX: 597 EQ: 584
09/2017 FICOs: TU: 621 EX: 615 EQ: 608
09/2017 FICOs: TU: 633 EX: 620 EQ: 608
Established Contributor

Re: Denied $500 CLOC NFCU

All good advice here, I would just throw in maybe opening a checking account.  Show them you arent just there for the credit products.  I know when I joined, I didnt apply for anything BUT I did set up DD for a portion of my check and utilized their banking.  Low and behold 3 months later, emails and mailer about their credit products.  So I went ahead and applied for CR and got 24k out of the gate along with 15k cloc.  Now I dont know if having a checking account meant anything to them but I dont think it hurts.  Good luck and as others have said....its a marathon, not a sprint!!

Amex PRG =Amex ED 25k = Amex Delta 2k = Amex BCP 6k = Arrival 7k = BOA 321 25k = BOA BBR 5k = CSR 20k = Freedom 10k = Marriott 5k =Ritz 5k = Citi Simplicity 9k = Citi DC 5k = Citi DP 3k = DCVR IT 11k = CAP1 QS 15k = TR Visa 8.5k = NFCU 24k/CLOC 15k = BBVA 10k = Wells Plat. 5k = US Bank Cash+ 11k

FICO scores TU 764 EX 739 EQ 745
Regular Contributor

Re: Denied $500 CLOC NFCU

I have a checking account with them and deposited $25 but I haven't moved anything significant over since I have a loooong history with BoA and just got their secured card which I want to graduate and I want to keep my direct deposits going there for now.
06/2017 FICOs: TU: 542 EX: 538 EQ: 528
07/2017 FICOs: TU: 564 EX: 564 EQ: 559
08/2017 FICOs: TU: 598 EX: 597 EQ: 584
09/2017 FICOs: TU: 621 EX: 615 EQ: 608
09/2017 FICOs: TU: 633 EX: 620 EQ: 608
Highlighted
Valued Contributor

Re: Denied $500 CLOC NFCU

NFCU pulls Equifax for CLOC.  You have a 528 score on Equifax.  I don't know why you are suprised you weren't approved.  I got turned down with 580 score for CLOC.  I did get approved for a Go Rewards card for 6500 dollars though. . Get your score up close to 600 and apply. for a credit card.  

BOA Cash Rewards, AMEX BCE, AMEX PRG, AMEX Ameriprise Platinum, AMEX SPG, CITI AADvantage Platinum, Chase Hyatt, Chase Southwest Premier, Chase Southwest Plus, Barclay Arrival +, Barclay AAdvantage Red Aviator, USAA Prefered Cash Rewards , Cap One Quicksilver, Lendup L card, JCrew, Pottery Barn, Express, NFCU Go Rewards.
Valued Member

Re: Denied $500 CLOC NFCU

Is it the Fico Score 8 or the Bankcard Score they pull?

Starting Score: TU 591 EQ 590 EX 614 (7/30/17)
Current Score: TU 655 EQ 628 EX 665 (11/1/17)
Goal Score: TU 700 EQ 700 EX 700