topic Re: NASA Fed Pre-Approval $15k SL - Pending in Credit Card Applications

NASA Fed Pre-Approval $15k SL - Pending (UPDATE: Denied)

Anonymous — Tue, 15 Jun 2021 22:50:56 GMT

I sure hope their pre-approvals are solid. I was denied for my dream card which I'll try again for in another year but I pre-qualified for a $15k SL with NASA FCU. I entered information for a balance transfer I'd like to do from a non-credit card loan of $3k. I got a solid 14%-ish interest rate and a 'we'll contact you tomorrow' message hopefully just becuase they're currently closed.

EX 702

1 late pay w/Discover from Aug 20

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Re: NASA Fed Pre-Approval $15k SL - Pending

FinStar — Thu, 10 Jun 2021 02:50:57 GMT

There haven been enough solid DPs on these NASA pre-approvals so far. Let us know how it turns out for you. Great DPs for the community.

Re: NASA Fed Pre-Approval $15k SL - Pending

Shooting-For-800 — Thu, 10 Jun 2021 11:09:04 GMT

Good Luck!

Re: NASA Fed Pre-Approval $15k SL - Pending

Anonymous — Thu, 10 Jun 2021 13:19:07 GMT

Update. Their system automatically declined the app and it's been sent to UW for manual review. Because of course it has. I'm starting to wonder if their pre-approval tool is half baked. I've never really trusted CUs for their history of poor technology implementation. I guess we will see.

Re: NASA Fed Pre-Approval $15k SL - Pending

spiritcraft1 — Thu, 10 Jun 2021 13:22:18 GMT

@Anonymous wrote:
Update. Their system automatically declined the app and it's been sent to UW for manual review. Because of course it has. I'm starting to wonder if their pre-approval tool is half baked. I've never really trusted CUs for their history of poor technology implementation. I guess we will see.

Good Luck with the App! To be fair, there are many big banks where "preapproved" seems to mean squat as well.

Re: NASA Fed Pre-Approval $15k SL - Pending

FinStar — Thu, 10 Jun 2021 16:25:10 GMT

@Anonymous wrote:
Update. Their system automatically declined the app and it's been sent to UW for manual review. Because of course it has. I'm starting to wonder if their pre-approval tool is half baked. I've never really trusted CUs for their history of poor technology implementation. I guess we will see.

FWIW, larger banks have a variety or pre-qualified and pre-approval portals and they have been known to yield similar results depending on the profile (FNBO's recent pre-qualification comes to mind). To add, such portals are never 100% guaranteed. Even AmEx, which is touted as a favorite around these parts, has shown time and time again that their portal is not 100% solid. Reliable, yes to an extent, but approval results are not always guaranteed. So, this isn't about poor technology implementation. Your profile drives the results.

Re: NASA Fed Pre-Approval $15k SL - Denied

Anonymous — Thu, 10 Jun 2021 16:43:45 GMT

Update - Declined: Outside of credit union guidelines. Maybe they should more accurately model their pre-qualification tool to reflect what's outside of their guidelines.

Re: NASA Fed Pre-Approval $15k SL - Denied

spiritcraft1 — Thu, 10 Jun 2021 17:07:13 GMT

@Anonymous wrote:
Update - Declined: Outside of credit union guidelines. Maybe they should more accurately model their pre-qualification tool to reflect what's outside of their guidelines.

I wonder what exactly was outside their guidelines? Were you already a member?

Re: NASA Fed Pre-Approval $15k SL - Denied

Anonymous — Fri, 11 Jun 2021 00:31:13 GMT

@spiritcraft1 wrote:
@Anonymous wrote:
Update - Declined: Outside of credit union guidelines. Maybe they should more accurately model their pre-qualification tool to reflect what's outside of their guidelines.
I wonder what exactly was outside their guidelines? Were you already a member?

That's the million dollar question. I asked them to send me the denial letter with specific reasons for denial. It honestly sounded like they weren't originally going to send one based on the conversation I had with them. We'll find out in about a week.

Re: NASA Fed Pre-Approval $15k SL - Denied

KK44 — Mon, 14 Jun 2021 16:00:40 GMT

I was approved instantly by the NASA prequal for $15K (have other non- NASA lines much higher) and then declined later by UW for being outside of guidelines. Asked for recon, declined again.

The letter they sent said, "outside of credit union guidelines" without further info.

Their prequal tool and approvals are apparently not solid...

Re: NASA Fed Pre-Approval $15k SL - Denied

gingerflower — Mon, 14 Jun 2021 16:44:54 GMT

@Anonymous Sorry for the Decline. Were you already a member when you applied? I ask bcuz a friend of mine applied for the preapproved however she was not a member. After she became a member she reapplied and was approved. Just saying!!

Re: NASA Fed Pre-Approval $15k SL - Denied

Anonymous — Mon, 14 Jun 2021 16:46:12 GMT

@KK44 wrote:
I was approved instantly by the NASA prequal for $15K (have other non- NASA lines much higher) and then declined later by UW for being outside of guidelines. Asked for recon, declined again.

The letter they sent said, "outside of credit union guidelines" without further info.

Their prequal tool and approvals are apparently not solid...

Exactly the same thing for me. I see their letter via USPS Informed Delivery that it'll be delivered to me today. I'll update the thread with what mine says. It's kinda garbage if they'll keep their HP on our reports without giving us a valid reason for denial. I wonder if that's even allowed.

Re: NASA Fed Pre-Approval $15k SL - Denied

Anonymous — Mon, 14 Jun 2021 17:30:27 GMT

@gingerflower wrote:
@Anonymous Sorry for the Decline. Were you already a member when you applied? I ask bcuz a friend of mine applied for the preapproved however she was not a member. After she became a member she reapplied and was approved. Just saying!!

@gingerflower Interesting... I'm not currently a member but I'm willing to give it a shot. I already had to twist their arm to send me the denial letter. I'll see what mine says and join and reapply. Do you know if your friend got hit with 2 HP's?

Re: NASA Fed Pre-Approval $15k SL - Denied

spiritcraft1 — Mon, 14 Jun 2021 16:54:11 GMT

I did a search here for "Outside of credit union guidelines" and it seems to be a catch all reason for denial going back years. They should at least spell it out, how hard would that be?

They are strange; they go through periods where they hand out huge SL's with soft pulls and then deny almost anyone. I always wanted a card that said NASA but it isn't high on my list right now. I have been a member since 2008. I did get a cool NASA t shirt for joining way back when.

Re: NASA Fed Pre-Approval $15k SL - Denied

Anonymous — Mon, 14 Jun 2021 17:06:07 GMT

Credit unions are membership-based organizations. You will not be approved for DDA, revolving credit accounts or secured loans unless you're first accepted as a member. This applies to ALL credit unions.

Re: NASA Fed Pre-Approval $15k SL - Denied

gingerflower — Mon, 14 Jun 2021 19:55:16 GMT

@Anonymous From what my friend told me she talked to customer service and asked if she join to be a member would it be a 2nd hard pull to be a member and have her Cc reconsider. The customer rep told her they would use the same hard pull as her 1st app. You might want to call customer service to verify though! Good Luck!

Re: NASA Fed Pre-Approval $15k SL - Denied

KK44 — Mon, 14 Jun 2021 20:26:32 GMT

I should also mention I was a member of NASA before the credit app. No derogs but some new accounts and inquiries.

last year cold-apped for a CC with them and declined, same reason outside credit guidelines. Asked for recon, declined. Went the appeal route where you write a letter, wait 30 days for review then, declined again - same reason - outside their guidelines.

i asked about their guidelines, they would not give any info...

Re: NASA Fed Pre-Approval $15k SL - Denied

4sallypat — Tue, 15 Jun 2021 14:35:26 GMT

Hmm I have a NASA savings account for a few years now and have been receiving mailers for their credit cards but nothing really exciting like a sign up bonus, etc..

I wonder if their mailings are not solid as well ?

Re: NASA Fed Pre-Approval $15k SL - Denied

coldfusion — Tue, 15 Jun 2021 15:03:01 GMT

You would have to carefully read exactly what the mailer says - or doesn't say.

Mailers in general likely aren't going to be as solid as an online preapproval because of the gap between the time your profile was evaluated and decision made to put you on the list to get a (targeted) offer and when you receive the mailer. It's not uncommon to be 2-3 months. If there was a relevant shift in your profile (inquiries or derogs added/aged out, new accounts, big jump or big drop in utilization, etc) since that evaluation your odds of approval will shift accordingly. At least with an online approval more likely to be tied to an immediate SP or at worst at least based on a pull made within the last 30 days.

Also don't forget that even "solid" preapprovals are not 100% guarantees. While disappointing to accept a preapproval only to end up with a decline unfortunately it does happen.