topic Re: NFCU second card DENIED in Credit Card Applications

NFCU second card DENIED

Anonymous — Sat, 26 Oct 2019 15:31:09 GMT

secured card graduated 7/26/19. Today my 3rd statement hit. 91 days. Waited 3 months for today. Hit the apply button for the go rewards card. 30 seconds later, declined. I have to wait the 7-10 days for letter. My exp Fico 8 is 700, eq 700, TransUnion 656. They only pulled TU. It's a very sad day for me.

Re: NFCU second card DENIED

Anonymous — Sat, 26 Oct 2019 15:47:06 GMT

@chokulat
Idk if you knew or not but Navy has a prequalify tool if you call and talk to rep. To give yourself more confidence next time, I would try that then apply. Sorry to hear about the denial.....

Re: NFCU second card DENIED

Anonymous — Sat, 26 Oct 2019 16:44:23 GMT

NFCU is weird with their application rules and the current tried and true application strategies don't always work for everyone. I can't even tell you how many times I've been declined for card applications and CLI requests from Navy. Don't get discouraged, as long as you treat them right, they'll do the same for you in time.

Re: NFCU second card DENIED

Anonymous — Sat, 26 Oct 2019 19:21:29 GMT

@Anonymous , how long did you have your secured before it graduated? Did you do anything in the 3 months since graduating that they may not have liked? returned payments, high balances, etc etc? I recommend the prequal in the future as well, but something seems to not be adding up and I'm very curious what their reasons are for rejecting you when you find out.

Re: NFCU second card DENIED

Anonymous — Sat, 26 Oct 2019 20:50:45 GMT

If it was exactly 91 days that you applied, I've read that some people get denied and then approved on the 92nd day. Could be a timing issue.

Re: NFCU second card DENIED

Meanmchine — Sun, 27 Oct 2019 01:09:18 GMT

Sorry OP

Keep us informed when the letter arrives

Re: NFCU second card DENIED

OmarGB9 — Sun, 27 Oct 2019 06:19:59 GMT

Sorry OP. Please let us know their reasons for decline.

Re: NFCU second card DENIED

CreditInspired — Sun, 27 Oct 2019 16:09:01 GMT

@Anonymous wrote:
secured card graduated 7/26/19. Today my 3rd statement hit. 91 days. Waited 3 months for today. Hit the apply button for the go rewards card. 30 seconds later, declined. I have to wait the 7-10 days for letter. My exp Fico 8 is 700, eq 700, TransUnion 656. They only pulled TU. It's a very sad day for me.

With the NFCU denial, I dont think you should look at it as a sad day. Why? Because the majority of us on this forum who have NFCU will tell you that this is the CU to be a member of who will approve people with marginal scores and/or high UT. It's just a matter of time.

NFCUs major concern is DTI. What is yours? Also, what else have you been doing over the last 3 months?

As everyone else has said, waiting for the letter will provide exact info for their reasoning.

Re: NFCU second card DENIED

Anonymous — Sun, 27 Oct 2019 23:53:41 GMT

No new derogs at all. My dti? On aug 14 I paid ALL my credit card debt down. The only balances I have is car loan of $598 (paid off today) and my student loan of $8000. Nothing has changed. The only thing holding my TransUnion down is they say lack of real estate on loan. The only thing I can think of is that I pulled the trigger a day too soon. I called customer service and asked if I was prequaled for anything, and they said just another secured. Hopefully the letter will come this week. If I knew any better, I would app again, but the first hp gave me a 9 point hit.

Re: NFCU second card DENIED

CreditInspired — Mon, 28 Oct 2019 00:16:09 GMT

DTI means your gross income and all your debt--not just CC debt. What is your monthly gross income and your monthly debt to include rent, CC debt, and all loans, including student and vehicle?

Re: NFCU second card DENIED

Brooklyn2018 — Wed, 30 Oct 2019 02:31:18 GMT

OP,

It could be that Navy wants to see more experience with newly unsecured card? Maybe their reason may be that it’s “too new?” Regardless of all the timing to app/CLI; in their eyes it could just be that?...JMHO of course☺️

Good Luck and hopefully Navy will open DA BOOKS on DA GOrewards😉

I❤️NY

Re: NFCU second card DENIED

Anonymous — Mon, 04 Nov 2019 14:26:04 GMT

So, I got my letter from NFCU today. It states the reason for denial is YOU'VE REACHED NAVY FEDERAL'S MAXIMUM UNSECURED LIMIT.

Nothing has changed on my credit report since my secured card graduated, except on Aug 14th i paid down ALL of my credit card debt. The only debt i have now is my student loan, which is $8k. its slowly going down, but not that fast. My fico 8 score from Exp and EQ are about 700, but TU is around 656.

So in the letter, it states my internal credit score with them is 273. They looked at Utilization of revolving credit lines in the last 3 months, which is probably it. before i paid everything down, my utilization wasnt the best.

they also cite Limited credit experience.

Well, in the wake of not getting a big boy card from Navy Fed, this week i apped for several other cards to build my profile. I know it lowers my average age of accounts, but they are limits I can build apon. The list is as follows:

Citi Costco - $8000

Citi AAdvantage - $9200

PNC Cash Rewards - $7500

BBT Spectrum - $4500

Amex Hilton Honors - $2k

Amex Delta Blue - $3200

Home Depot - old limit$500, i asked for another $3000, GRANTED so now im at $3500 (should have asked for more)

I will truly garden until I get an offer i cant refuse.

I think all the cards just granted above used exp or eq for inquiries.

Re: NFCU second card DENIED

Anonymous — Mon, 04 Nov 2019 14:27:09 GMT

OH, and IKEA gave me $5500 yesterday.

Re: NFCU second card DENIED

Brian_Earl_Spilner — Mon, 04 Nov 2019 14:41:49 GMT

NFCU is using trended data now for all of your accounts. If you're carrying a balance on other accounts, not paying it down fast enough, etc. That's why they declined me despite having a DTI of like 23%

Re: NFCU second card DENIED

CreditInspired — Mon, 04 Nov 2019 16:55:48 GMT

@Anonymous wrote:
So, I got my letter from NFCU today. It states the reason for denial is YOU'VE REACHED NAVY FEDERAL'S MAXIMUM UNSECURED LIMIT.
Nothing has changed on my credit report since my secured card graduated, except on Aug 14th i paid down ALL of my credit card debt. The only debt i have now is my student loan, which is $8k. its slowly going down, but not that fast. My fico 8 score from Exp and EQ are about 700, but TU is around 656.
So in the letter, it states my internal credit score with them is 273. They looked at Utilization of revolving credit lines in the last 3 months, which is probably it. before i paid everything down, my utilization wasnt the best.
they also cite Limited credit experience.
Well, in the wake of not getting a big boy card from Navy Fed, this week i apped for several other cards to build my profile. I know it lowers my average age of accounts, but they are limits I can build apon. The list is as follows:
Citi Costco - $8000
Citi AAdvantage - $9200
PNC Cash Rewards - $7500
BBT Spectrum - $4500
Amex Hilton Honors - $2k
Amex Delta Blue - $3200
Home Depot - old limit$500, i asked for another $3000, GRANTED so now im at $3500 (should have asked for more)
I will truly garden until I get an offer i cant refuse.
I think all the cards just granted above used exp or eq for inquiries.

Well Gosh Darn -- BAM! Take that NFCU! These approvals defnitely take the sting out of NFCU's rejection.

A huge congratulations on your approvals and solid SLs.

Re: NFCU second card DENIED

Scupra — Mon, 04 Nov 2019 17:50:19 GMT

Just 3 months ago you had all of your cards maxed and were running 95% utilization for roughly 2 years while still applying for new credit. NFCU stayed on the side of caution and probably wanted to see how you would do after paying off all your debt.

That is great that you want to stay in the garden now. You have a couple SUB's to hit and should work on growing the lineup you have. Congrats on all of your approvals after NFCU let you down.

Re: NFCU second card DENIED

Vu — Wed, 06 Nov 2019 04:10:04 GMT

I can tell you that the “reached maximum unsecured limit” is a horse**bleep** excuse. Why? Here is why.

1. I applied for the 2nd card at about 98 days after opened my 1st card, which approved with 20K SL.
2. The 2nd card application get denied, guess what is the reason in the letter? Same as yours, reached maximum internal unsecured limit.
3. Immediately after the denial, like 1 hour, I applied for the CLI on the 1st card. Got $8K CLI.

So if the denial of the 2nd card application was caused by reached maximum internal limit. Then NFCU couldn’t have approved my CLI after the denial.

Re: NFCU second card DENIED

Anonymous — Sat, 14 Dec 2019 23:57:52 GMT

I decided to try again, before i enter the garden for the next year. I called the customer service, and they told me the prequalify tool was down, but I havent used any of my newfound credit over the last 3 months. I hit apply for the Cash Rewards card, and about a minute later, CONGRATULATIONS!!!! I have been approved for $15,000. I could not have made it this far without you guys. My scores dropped from the low 700s with my app spree, but it will rise again. Im happy, and thanks for all the support you all have provided... For anyone else feeling down, there is hope.

Re: NFCU second card DENIED

AllZero — Sun, 15 Dec 2019 00:04:39 GMT

Congratulations on your approval!

Re: NFCU second card DENIED

FinStar — Tue, 17 Dec 2019 18:52:11 GMT

As the OP has indicated they've been approved, this thread is now locked and closed to new messages.

OP, feel free to start a new approval thread in the Approvals forum if you would like to do so.