topic Re: NFCU CC APPROVAL, CLOC DENIAL in Credit Card Approvals

NFCU CC APPROVAL, CLOC DENIAL

cambia46 — Fri, 03 Sep 2021 16:23:14 GMT

Alrighty, I pulled the trigger with NFCU after opening a Savings account with $100 2wks ago. I was instantly approved for the cash rewards card, but with only a an $8000 limit, same as Apple.

I also decided to go for the CLOC $15K and was instantly denied. After researching the forum more, I lowered the amount to $6000 and turned again, still denied. I don't know why yet, but I've sent a recon message addressing reasons that I think it may be that ive listed below. Oh, and they pulled d2 back-to-back TU inquiries, which I'm not happy about. But no score drop, so that's a plus. I'm going to put TU on ice for a while.

Possible Denial Reasons

1. I have 3 new accounts (that are reporting) in 12mos. Although, my utilization is only at 2%. Last acct opened was a personal loan in Jan.

2. MY DTI went up after approval for their credit card. I also accidentally put my income as $131k versus $133k, which I corrected in the recon and offered to provide POI.

2. Apple Card inquiry from earlier this week, which put me at 1/6mos and 5/12mos on inquiries.

3. No checking or direct deposit wjth NFCU. I only opened a savings when I joined, but I explained in the recon that I will be switching direct deposit for my employment income to NFCU.

4. The way that I reported my income. On other applications I was able to combine all sources of income. On this application I had to report my employment income separate and my remaining income (from retirement, disability, rental property) under under "other" with no option to explain the source. So, I broke down my income in the recon message.

I'll post how the recon went once I hear back.

RECON UPDATE: No dice....NFCU responed to with this email:

"We would be glad to consider an application from you. However, there is no way to advise you on the chances of a loan approval, monthly payments, or interest rate before you actually submit the application for review...."

So, they pretty much ignored my request to recon with my recent application. I decided to try to recon by phone, but the rep pretty much told me the same thing. She also couldn't tell me why it was denied and suggested that I reapply after I've gotten the denial letter. I'm no longer interested after learning that the SL is now only $500, but I am anxious to get the denial letter.

Re: NFCU CC APPROVAL, CLOC DENIAL

gdale6 — Mon, 30 Aug 2021 19:02:43 GMT

Grats on your NFCU cc approval and good luck on the recon for the CLOC

Re: NFCU CC APPROVAL, CLOC DENIAL

cambia46 — Mon, 30 Aug 2021 19:09:13 GMT

Thanks

@gdale6 wrote:
Grats on your NFCU cc approval and good luck on the recon for the CLOC

Re: NFCU CC APPROVAL, CLOC DENIAL

Elpadrino1 — Mon, 30 Aug 2021 20:06:12 GMT

Congratulations on your approval!!

Re: NFCU CC APPROVAL, CLOC DENIAL

ipmyf88 — Mon, 30 Aug 2021 20:17:15 GMT

Congratulations! Why did you apply for the LOC without having a checking account? I would have opened the account first, and then applied for the CLOC. Not sure if that created an issue.

Re: NFCU CC APPROVAL, CLOC DENIAL

pizzadude — Mon, 30 Aug 2021 20:20:48 GMT

Congrats on the cash rewards approval !!

Re: NFCU CC APPROVAL, CLOC DENIAL

cashorcharge — Mon, 30 Aug 2021 21:12:10 GMT

Congratulations on your NFCU CC approval!! 👏🏼🎉🍾

I would venture to "guess" that part of the CLOC reason was related to not having the Checking opened first...Good Luck on the recon..I hope it works out in your favor. We'll look forward to your update.

Re: NFCU CC APPROVAL, CLOC DENIAL

KingRue8500 — Mon, 30 Aug 2021 23:09:41 GMT

Congrats on your NFCU cashRewards approval

Re: NFCU CC APPROVAL, CLOC DENIAL

CreditAggie — Tue, 31 Aug 2021 00:20:52 GMT

Congratulations on your NFCU approval!

Re: NFCU CC APPROVAL, CLOC DENIAL

Irv02 — Tue, 31 Aug 2021 01:18:13 GMT

Congrats on your approval for the Cash Rewards! I think they denied you because you don't have a checking account. IIRC I thought they changed the max cloc to $500. I may be wrong though. Somebody correct me if I'm wrong.

Re: NFCU CC APPROVAL, CLOC DENIAL

AverageJoesCredit — Tue, 31 Aug 2021 01:30:20 GMT

@cambia46 wrote:
Alrighty, I pulled the trigger with NFCU after opening a Savings account with $100 2wks ago. I was instantly approved for the cash rewards card, but with only a an $8000 limit, same as Apple.

I also decided to go for the CLOC $15K and was instantly denied. After researching the forum more, I lowered the amount to $6000 and turned again, still denied. I don't know why yet, but I've sent a recon message addressing reasons that I think it may be that ive listed below. Oh, and they pulled d2 back-to-back TU inquiries, which I'm not happy about. But no score drop, so that's a plus. I'm going to put TU on ice for a while.

Possible Denial Reasons

1. I have 3 new accounts (that are reporting) in 12mos. Although, my utilization is only at 2%. Last acct opened was a personal loan in Jan.

2. MY DTI went up after approval for their credit card. I also accidentally put my income as $131k versus $133k, which I corrected in the recon and offered to provide POI.

2. Apple Card inquiry from earlier this week, which put me at 1/6mos and 5/12mos on inquiries.

3. No checking or direct deposit wjth NFCU. I only opened a savings when I joined, but I explained in the recon that I will be switching direct deposit for my employment income to NFCU.

4. The way that I reported my income. On other applications I was able to combine all sources of income. On this application I had to report my employment income separate and my remaining income (from retirement, disability, rental property) under under "other" with no option to explain the source. So, I broke down my income in the recon message.

I'll post how the recon went once I hear back.

Cloc have been known to be limited to about $500 for awhile now. A couple years ago they were handing out 15k limits like candy but thats done and long gone for now.

Im suprised you consider 8k sl as only considering your other limits its actually a good starting point whereas some of us had to start off with $500 limits. There should be no suprise you got double pulled on TU as the Cloc and credit card are always seperate pulls especially given they are two diffetent departments. I also dont think there's much difference in 134k and 131k income. 4k will not persuade them they made a mistake. Treat Navy well and your resources will grow in time

Re: NFCU CC APPROVAL, CLOC DENIAL

cambia46 — Tue, 31 Aug 2021 01:49:49 GMT

Yeah, stupid move. Not sure why that didn't cross my mind.

@ipmyf88 wrote:
Congratulations! Why did you apply for the LOC without having a checking account? I would have opened the account first, and then applied for the CLOC. Not sure if that created an issue.

Re: NFCU CC APPROVAL, CLOC DENIAL

Total80sKid — Tue, 31 Aug 2021 05:08:26 GMT

Congrats on your Cash Rewards approval 👍🏼

Re: NFCU CC APPROVAL, CLOC DENIAL

cambia46 — Fri, 03 Sep 2021 16:12:53 GMT

@AverageJoesCredit wrote:
@cambia46 wrote:
Alrighty, I pulled the trigger with NFCU after opening a Savings account with $100 2wks ago. I was instantly approved for the cash rewards card, but with only a an $8000 limit, same as Apple.

I also decided to go for the CLOC $15K and was instantly denied. After researching the forum more, I lowered the amount to $6000 and turned again, still denied. I don't know why yet, but I've sent a recon message addressing reasons that I think it may be that ive listed below. Oh, and they pulled d2 back-to-back TU inquiries, which I'm not happy about. But no score drop, so that's a plus. I'm going to put TU on ice for a while.

Possible Denial Reasons

1. I have 3 new accounts (that are reporting) in 12mos. Although, my utilization is only at 2%. Last acct opened was a personal loan in Jan.

2. MY DTI went up after approval for their credit card. I also accidentally put my income as $131k versus $133k, which I corrected in the recon and offered to provide POI.

2. Apple Card inquiry from earlier this week, which put me at 1/6mos and 5/12mos on inquiries.

3. No checking or direct deposit wjth NFCU. I only opened a savings when I joined, but I explained in the recon that I will be switching direct deposit for my employment income to NFCU.

4. The way that I reported my income. On other applications I was able to combine all sources of income. On this application I had to report my employment income separate and my remaining income (from retirement, disability, rental property) under under "other" with no option to explain the source. So, I broke down my income in the recon message.

I'll post how the recon went once I hear back.

Cloc have been known to be limited to about $500 for awhile now. A couple years ago they were handing out 15k limits like candy but thats done and long gone for now.

Im suprised you consider 8k sl as only considering your other limits its actually a good starting point whereas some of us had to start off with $500 limits. There should be no suprise you got double pulled on TU as the Cloc and credit card are always seperate pulls especially given they are two diffetent departments. I also dont think there's much difference in 134k and 131k income. 4k will not persuade them they made a mistake. Treat Navy well and your resources will grow in time

Thanks for the response. Also thanks for taking my head out of the clouds and humbling myself. I got so caught up in the larger amounts that others had gotten and my expectations, that I overlooked the fact that my limits are actually good compared to some others and the fact that I couldn't even get a $100 cc a few years ago. So, you're right, I should be grateful.

Re: NFCU CC APPROVAL, CLOC DENIAL

AverageJoesCredit — Fri, 03 Sep 2021 16:51:45 GMT

@cambia46 wrote:

@AverageJoesCredit wrote:
@cambia46 wrote:
Alrighty, I pulled the trigger with NFCU after opening a Savings account with $100 2wks ago. I was instantly approved for the cash rewards card, but with only a an $8000 limit, same as Apple.

I also decided to go for the CLOC $15K and was instantly denied. After researching the forum more, I lowered the amount to $6000 and turned again, still denied. I don't know why yet, but I've sent a recon message addressing reasons that I think it may be that ive listed below. Oh, and they pulled d2 back-to-back TU inquiries, which I'm not happy about. But no score drop, so that's a plus. I'm going to put TU on ice for a while.

Possible Denial Reasons

1. I have 3 new accounts (that are reporting) in 12mos. Although, my utilization is only at 2%. Last acct opened was a personal loan in Jan.

2. MY DTI went up after approval for their credit card. I also accidentally put my income as $131k versus $133k, which I corrected in the recon and offered to provide POI.

2. Apple Card inquiry from earlier this week, which put me at 1/6mos and 5/12mos on inquiries.

3. No checking or direct deposit wjth NFCU. I only opened a savings when I joined, but I explained in the recon that I will be switching direct deposit for my employment income to NFCU.

4. The way that I reported my income. On other applications I was able to combine all sources of income. On this application I had to report my employment income separate and my remaining income (from retirement, disability, rental property) under under "other" with no option to explain the source. So, I broke down my income in the recon message.

I'll post how the recon went once I hear back.

Cloc have been known to be limited to about $500 for awhile now. A couple years ago they were handing out 15k limits like candy but thats done and long gone for now.

Im suprised you consider 8k sl as only considering your other limits its actually a good starting point whereas some of us had to start off with $500 limits. There should be no suprise you got double pulled on TU as the Cloc and credit card are always seperate pulls especially given they are two diffetent departments. I also dont think there's much difference in 134k and 131k income. 4k will not persuade them they made a mistake. Treat Navy well and your resources will grow in time
Thanks for the response. Also thanks for taking my head out of the clouds and humbling myself. I got so caught up in the larger amounts that others had gotten and my expectations, that I overlooked the fact that my limits are actually good compared to some others and the fact that I couldn't even get a $100 cc a few years ago. So, you're right, I should be grateful.

Its ok, it happens we sometimes get carried away when we deal with Navy but honestly keep plugging along. As you build history with Navy you will be suprised how well they can treat you. I started out with a $500 CR andafter 4 years into my relationship, i have received 51k in credit limits. I dont even come close to making that