Are COs really counted in DTI? That seems unfair since that $425 is not a monthly amount.
Yes ChargeOff's are included in DTI, cause technically it is an amount you owe for the month it is reported. So till it is no longer reported it remains part of DTI.
I'm sorry you've been made to jump through so many hoops just to get the approval. Pardon for asking, but you mentioned your EQ improvement in your first post but didn't share where you were with that in terms of data. If you don't mind, I'd be interested to know as your DTI is somewhat close to mine, and I've had this bad case of CLOC fever recently to cement my rebuild and get to the garden where I belong! I did a search for CLOC denials this morning and saw a thread earlier this year where a lady said she was rejected and her internal score was around 290. Mine was 315 as of my cashRewards approval (first week of April '17), so I'm just trying to gather as much data as I can before I pull the trigger on the CLOC app because initially I thought it would be a slam dunk but now I'm starting to think I might be on the bubble.
OP, congrats on getting an approval. I think sometimes our expecatations of NFCU are pretty high because they deliver such great results consistantly but they are like any other lender and have standards which can create sticking points. It took a while to get much out of them but as I resolved my chargeoffs etc they became generous. The reality is while we occasionally see someone with low scores get a high approval we don't know all of the elements of their credit profile and how NFCU views them. Compared to most lenders NFCU is very loose, Penfed has yet to approve me for any card and I have seen folks with mid 700's only get a $500 line of credit for overdraft. Continue to use NFCU and build your history, I would resolve the chargeoff, in my opinion resolving them is well worth it especially if the amount isn't anything crazy. In 6 months or a year ask them for a CLI. With your income 15K is a pretty big ask honestly because the minimum payment if you used it is $300 a month and that will mostly be interest.