topic Re: Navy Federal Cash Rewards Denial - What have I Done??? in Credit Card Applications

Navy Federal Cash Rewards Denial - What have I Done???

Jordan23ww — Sun, 10 May 2020 18:15:07 GMT

So I messed up. I applied for a credit limit increase on day 95/3 for my More Rewards card and they granted me an $8000 increase. So yesterday on day 97/3 I decided to apply for the Cash Rewards card and got instantly denied.

Now full disclosure I didn't have any offers when I checked the prequalify tool but after reading of some others on here in this same position get new card approvals I didn't think it would matter. After all I keep hearing more and more about how relationships with NFCU matter more than the actual scores do.

I was shocked! As of February 2nd when I got my More Rewards card my Navy Federal internal score was 352. All my Fico scores have gone up even more since getting my More Rewards, my total utilization technically is 0% but due to the pandemic the bureaus haven’t updated my accounts yet so it shows 6% right now. Also my More Rewards card gets paid to $0 before the closing date each month. Seemed like to me at least I should’ve been instantly approved.

They said they’d send me a letter in 7-10 business days to explain the denial. I sent them a message on the app to try to do a reconsideration and to find out more info as I’m eager to find out why I got denied. Probably will be a few days before I hear anything with it being the weekend and with the pandemic going on.

Re: Navy Federal Cash Rewards Denial - What have I Done???

Girlzilla88 — Sun, 10 May 2020 18:26:57 GMT

They could just be being tighter on security and maybe wanting documents from you!? Hard to say 0-6% isn't a big Whopper so I doubt that is the reason?! But keep us posted what they say or even with the Recon. I have seen some people have Recon success. You didn't open a lot of cards or anything during the past few months did you?

Re: Navy Federal Cash Rewards Denial - What have I Done???

Brian_Earl_Spilner — Sun, 10 May 2020 18:43:14 GMT

You probably hit the max limit they are willing to give you with that CLI. That's why it's recommended to app for the card first before the CLI.

Your shock and wasted HP for the app is the reason I think people need to stop acting like a 2nd card with huge limit is basically guaranteed. Each person's profile is different. Some in similar situations as you have waited 3 months to apply again and got an instant approval for 5 digits. Others, like myself, haven't received a 2nd product in 2 years.

If you're ok taking HPs, apply again in a few months. If not, treat it like an app from any other lender and wait longer.

Re: Navy Federal Cash Rewards Denial - What have I Done???

Brian_Earl_Spilner — Sun, 10 May 2020 18:44:41 GMT

@Girlzilla88 wrote:
They could just be being tighter on security and maybe wanting documents from you!? Hard to say 0-6% isn't a big Whopper so I doubt that is the reason?! But keep us posted what they say or even with the Recon. I have seen some people have Recon success. You didn't open a lot of cards or anything during the past few months did you?

If they possibly needed docs, it would have went to 24 hour review.

Re: Navy Federal Cash Rewards Denial - What have I Done???

Jordan23ww — Sun, 10 May 2020 18:47:46 GMT

@Girlzilla88 wrote:
They could just be being tighter on security and maybe wanting documents from you!? Hard to say 0-6% isn't a big Whopper so I doubt that is the reason?! But keep us posted what they say or even with the Recon. I have seen some people have Recon success. You didn't open a lot of cards or anything during the past few months did you?

Will update as soon as possible! I have opened a lot of cards recently. I got my WF Propel in December 2019, became an AA on a card that month also on a card. Then in February 2020 I got the More Rewards and the Chase Unlimited and became an AA on my wife's card. Lastly in April I got the Amex BCP. So 3 new card approvals and 2 adds as authorized user between December and April.

Re: Navy Federal Cash Rewards Denial - What have I Done???

Jannelo — Sun, 10 May 2020 18:54:28 GMT

Well, on another note, congratulations on that huge $8,000 CLI!

Re: Navy Federal Cash Rewards Denial - What have I Done???

Jordan23ww — Sun, 10 May 2020 20:12:38 GMT

@Jannelo wrote:
Well, on another note, congratulations on that huge $8,000 CLI!

Thank you so much! I appreciate it! Definitely brought a big smile to my face last week! 😄

Re: Navy Federal Cash Rewards Denial - What have I Done???

Anonymous — Mon, 11 May 2020 04:47:09 GMT

Congrats on the monster increase! I'm curious to see what Navy has to see regarding your denial for the second card. Thanks for providing as much detail as you have thus far.

Re: Navy Federal Cash Rewards Denial - What have I Done???

Jordan23ww — Mon, 11 May 2020 10:55:07 GMT

@Anonymous wrote:
Congrats on the monster increase! I'm curious to see what Navy has to see regarding your denial for the second card. Thanks for providing as much detail as you have thus far.

Thank you so much! Also you're welcome! Hopefully I'll have an update soon now that the weekend is over.

Re: Navy Federal Cash Rewards Denial - What have I Done???

Gmood1 — Mon, 11 May 2020 12:21:41 GMT

@Jordan23ww

Give it more time, you'll get the 2nd card.

I'd say atleast six months to a year.

Maybe once this Covid calms down. Things will open up for you.

Navy isn't known for being adverse to new accounts. Not from what I've seen or experienced over several years.

If you apply for credit enough, at some point you will be denied.

It happens!

Keep building on your current card with them.

Oh, and stop paying before the statement cuts! lol

If you want to build credit history.

You need to show credit history!

Its not possible to do that with most lenders if you don't allow your bills to report.

How will another lender know your payment patterns, if they can't see them? Just something to think about.

Congratulations on the CLI!😃

Re: Navy Federal Cash Rewards Denial - What have I Done???

SFLSpotter9210 — Mon, 11 May 2020 16:32:14 GMT

Hey don't sweat it too much it happens. I appd for a CLI as well on my starter card my go rewards and got denied for reaching max exposure at this moment. But if you look at my other accounts their huge so I didn't understand why. But to be honest NFCU is the absolute best CU in my humble opinion. Be patient and it will pay off in time. Maybe if you give everyone a better understanding of your profile they may help you out better. Good luck with your journey going forward 👍.

Re: Navy Federal Cash Rewards Denial - What have I Done???

Jordan23ww — Mon, 11 May 2020 17:11:10 GMT

@SFLSpotter9210 wrote:
Hey don't sweat it too much it happens. I appd for a CLI as well on my starter card my go rewards and got denied for reaching max exposure at this moment. But if you look at my other accounts their huge so I didn't understand why. But to be honest NFCU is the absolute best CU in my humble opinion. Be patient and it will pay off in time. Maybe if you give everyone a better understanding of your profile they may help you out better. Good luck with your journey going forward 👍.

Thank you so much for the encouragement and kind words! I agree with you Navy Federal is the best CU! I will be patient. I know in time I'll get another card and will look back at this moment and laugh.

I don't think I would've applied so soon if I hadn't ever heard of the 91/3 rule. Everyday it seems someone had been talking about it on places I frequent online. Usually when a new bank gives me a CC I wait a year or more before trying to get another product from them. I guess I got too excited and was too eager to get my 3 NFCU CC's out the way! Lesson learned!😄

Re: Navy Federal Cash Rewards Denial - What have I Done???

SFLSpotter9210 — Mon, 11 May 2020 17:47:12 GMT

I will add one more data point that worked for me. And that is that I applied for another card before I appd for the CLI. Just a fyi for ya going forward. Again good luck with your journey.

Re: Navy Federal Cash Rewards Denial - What have I Done???

Jordan23ww — Mon, 11 May 2020 20:23:01 GMT

@Gmood1 wrote:
@Jordan23ww
Give it more time, you'll get the 2nd card.
I'd say atleast six months to a year.
Maybe once this Covid calms down. Things will open up for you.
Navy isn't known for being adverse to new accounts. Not from what I've seen or experienced over several years.

If you apply for credit enough, at some point you will be denied.
It happens!
Keep building on your current card with them.
Oh, and stop paying before the statement cuts! lol
If you want to build credit history.
You need to show credit history!
Its not possible to do that with most lenders if you don't allow your bills to report.
How will another lender know your payment patterns, if they can't see them? Just something to think about.

Congratulations on the CLI!😃

Thank you for all the encouragement and advice! I appreciate it! I'm curious when you mentioned to stop paying before the statement cuts if there is a recommendation you had in mind to leave? Do you leave a certain percentage on your cards to report? I usually use my cards like a debit card and pay it down to $0 every few days. Not sure if you mean to leave hundreds of dollars on there or just a small amount? Any clarification would be appreciated. Thanks again!

Re: Navy Federal Cash Rewards Denial - What have I Done???

Jordan23ww — Mon, 11 May 2020 20:38:50 GMT

@SFLSpotter9210 wrote:
I will add one more data point that worked for me. And that is that I applied for another card before I appd for the CLI. Just a fyi for ya going forward. Again good luck with your journey.

Thank you so much for this tip! I will definitely do this going forward! I appreciate the tip and the well wishes!

Re: Navy Federal Cash Rewards Denial - What have I Done???

Anonymous — Mon, 11 May 2020 20:39:29 GMT

@Jordan23ww wrote:
@Gmood1 wrote:
@Jordan23ww
Give it more time, you'll get the 2nd card.
I'd say atleast six months to a year.
Maybe once this Covid calms down. Things will open up for you.
Navy isn't known for being adverse to new accounts. Not from what I've seen or experienced over several years.

If you apply for credit enough, at some point you will be denied.
It happens!
Keep building on your current card with them.
Oh, and stop paying before the statement cuts! lol
If you want to build credit history.
You need to show credit history!
Its not possible to do that with most lenders if you don't allow your bills to report.
How will another lender know your payment patterns, if they can't see them? Just something to think about.

Congratulations on the CLI!😃
Thank you for all the encouragement and advice! I appreciate it! I'm curious when you mentioned to stop paying before the statement cuts if there is a recommendation you had in mind to leave? Do you leave a certain percentage on your cards to report? I usually use my cards like a debit card and pay it down to $0 every few days. Not sure if you mean to leave hundreds of dollars on there or just a small amount? Any clarification would be appreciated. Thanks again!

Anecdotal evidence has shown that 1% balance reporting on the statement is optimal for credit score increase, people also practice "all zero except one" (aka AZEO) in order to maximize their credit scores. Your mileage may vary.

Re: Navy Federal Cash Rewards Denial - What have I Done???

Jordan23ww — Mon, 11 May 2020 20:42:45 GMT

@Anonymous wrote:
@Jordan23ww wrote:
@Gmood1 wrote:
@Jordan23ww
Give it more time, you'll get the 2nd card.
I'd say atleast six months to a year.
Maybe once this Covid calms down. Things will open up for you.
Navy isn't known for being adverse to new accounts. Not from what I've seen or experienced over several years.

If you apply for credit enough, at some point you will be denied.
It happens!
Keep building on your current card with them.
Oh, and stop paying before the statement cuts! lol
If you want to build credit history.
You need to show credit history!
Its not possible to do that with most lenders if you don't allow your bills to report.
How will another lender know your payment patterns, if they can't see them? Just something to think about.

Congratulations on the CLI!😃
Thank you for all the encouragement and advice! I appreciate it! I'm curious when you mentioned to stop paying before the statement cuts if there is a recommendation you had in mind to leave? Do you leave a certain percentage on your cards to report? I usually use my cards like a debit card and pay it down to $0 every few days. Not sure if you mean to leave hundreds of dollars on there or just a small amount? Any clarification would be appreciated. Thanks again!
Anecdotal evidence has shown that 1% balance reporting on the statement is optimal for credit score increase, people also practice "all zero except one" (aka AZEO) in order to maximize their credit scores. Your mileage may vary.

Ok, thank you for clarifying that for me! I can give that a try for sure! Also I forgot to say thank you earlier for the congrats on my limit increase! Thank you for that and all the tips!

Re: Navy Federal Cash Rewards Denial - What have I Done???

Gmood1 — Mon, 11 May 2020 21:22:46 GMT

@Jordan23ww wrote:
@Gmood1 wrote:
@Jordan23ww
Give it more time, you'll get the 2nd card.
I'd say atleast six months to a year.
Maybe once this Covid calms down. Things will open up for you.
Navy isn't known for being adverse to new accounts. Not from what I've seen or experienced over several years.

If you apply for credit enough, at some point you will be denied.
It happens!
Keep building on your current card with them.
Oh, and stop paying before the statement cuts! lol
If you want to build credit history.
You need to show credit history!
Its not possible to do that with most lenders if you don't allow your bills to report.
How will another lender know your payment patterns, if they can't see them? Just something to think about.

Congratulations on the CLI!😃
Thank you for all the encouragement and advice! I appreciate it! I'm curious when you mentioned to stop paying before the statement cuts if there is a recommendation you had in mind to leave? Do you leave a certain percentage on your cards to report? I usually use my cards like a debit card and pay it down to $0 every few days. Not sure if you mean to leave hundreds of dollars on there or just a small amount? Any clarification would be appreciated. Thanks again!

@Jordan23ww

What I mean by allowing your balances to report, is exactly that. If you have the discipline to pay your balances every couple of days. You probably have the same discipline to pay them once a month.

Now if you don't trust yourself to use these credit cards as credit cards. Then do what you must to stay out of debt.

I see folks all the time assume they're building credit history by paying balances before they report.

Unless your balances are above 29% before the statement cuts. Let it ride and report. Now if you just can't help yourself in paying closer to due dates. Go in and pay the statement after it has cut. That will insure your balances are recorded at the CBs.

Credit is more than scores. It's the history at how you handle your finances and the credit that's given you by these Fi's.

The ONLY way for other FI's to see your spend and issue appropriate CLs, is to allow balances to report as naturally as possible.

Re: Navy Federal Cash Rewards Denial - What have I Done???

Mr_Mojo_Risin — Mon, 11 May 2020 22:08:37 GMT

@Gmood1 wrote:
@Jordan23ww
Give it more time, you'll get the 2nd card.
I'd say atleast six months to a year.
Maybe once this Covid calms down. Things will open up for you.
Navy isn't known for being adverse to new accounts. Not from what I've seen or experienced over several years.

If you apply for credit enough, at some point you will be denied.
It happens!
Keep building on your current card with them.
Oh, and stop paying before the statement cuts! lol
If you want to build credit history.
You need to show credit history!
Its not possible to do that with most lenders if you don't allow your bills to report.
How will another lender know your payment patterns, if they can't see them? Just something to think about.

Congratulations on the CLI!😃

Is it best to let a balance report with NFCU? I just got a CC with them last month.

Re: Navy Federal Cash Rewards Denial - What have I Done???

Gmood1 — Mon, 11 May 2020 22:29:54 GMT

@Mr_Mojo_Risin

IMHO and experience it is. I purposely used them for several BTs over the last few years. And paid those balances off over 12 to 24 month periods. I wanted to show them, I was a good borrower and on time payer.

Me and NFCU had a rough start back in 2015. They locked my first credit card and bank accounts, when I joined.

After using the card and then cards, paying them on time and allowing their system to record my payments.

I haven't had any issues with them since. I don't remember the last internal score they sent me. But it was only 15 or so points from the highest they give.