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NFCU CLOC denial.. need inputs

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Anonymous
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NFCU CLOC denial.. need inputs

I was approved for cash rewards card for 4,500. I applied for CLOC and during that time my TU score is 681. Today I got a letter of denial withreason 'lack of credit experience'

Should I ask for recon? Below are the data points. I was hoping to apply for business products as well. Not sure if it's wise now.

Oldest account Bank of America cash rewards: 2years -4,500
Amex BCE: 10,000 opened in feb 2017
Capital one business classic: 2000 opened in feb 2017
Secure loan from Wells Fargo : 5000 opened in March 2017
NFCU cash rewards: 4500 opened in April 2017
Message 1 of 14
13 REPLIES 13
Aduke1122
Senior Contributor

Re: NFCU CLOC denial.. need inputs

I would wait until your cc with them ages atleast 6 mths , you have a pretty thin file , which most of that consist of being opened in the last mth or two . Definitely give it a bit of time and they will grow with you
Message 2 of 14
Aduke1122
Senior Contributor

Re: NFCU CLOC denial.. need inputs

Also as for the business side I have read a lot about their UW is a lot harder to crack than the personal side so I would most definitely hold off on that idea
Message 3 of 14
Anonymous
Not applicable

Re: NFCU CLOC denial.. need inputs

I just spoke to the CSR. She suggested if I apply for lower limit, it may get approved. She took my details and applied over phone and app went for review. Will keep you guys posted about the decision.
Message 4 of 14
Anonymous
Not applicable

Re: NFCU CLOC denial.. need inputs

I would say you need to wait till 3 statements are cut on your NFCU CC at the minimum, perferrably 6 statements before ypou app for more credit products from NFCU. As far as their bussiness products I am not sure, I have never dealt with them.

Message 5 of 14
Anonymous
Not applicable

Re: NFCU CLOC denial.. need inputs

Navy says in their rules you must wait 90 days with nothing negative on your accounts before they will even consider the CLOC.

 

Message 6 of 14
Anonymous
Not applicable

Re: NFCU CLOC denial.. need inputs

Nothing negative on your Navy accounts that is.  Plus, If you don't have a checking account with them it would be wise to get one before applying for the CLOC again. 

Message 7 of 14
Anonymous
Not applicable

Re: NFCU CLOC denial.. need inputs

I already have checking, savings and cash rewards credit card. Hoping that they will reconsider the decision for 7.5k
Message 8 of 14
Anonymous
Not applicable

Re: NFCU CLOC denial.. need inputs

O ok.. It's possible but again their rules state no overdraft protection for 90 days. Maybe they will recon for you tho. 

 

Message 9 of 14
Anonymous
Not applicable

Re: NFCU CLOC denial.. need inputs

I am not to sure how much they enforce that rule. I was granted one around 30 days after becoming a member and opening a checking account.
Message 10 of 14
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