topic Re: Denied NFCU nRewards; approved for Cap1 QS in Credit Card Applications

Denied NFCU nRewards; approved for Cap1 QS

woodsie1 — Tue, 07 Jul 2015 23:40:18 GMT

I would really appreciate any feedback on my "interesting" situation. I applied for the NFCU nRewards on 7/2 and it immediately went into review. Yesterday I received a declined message. I reconned using the secured messaging and they said they had to stick to their original decision but suggested the secured card. I am confused! I've been with NFCU since 2009 and have an auto loan that has all on time payments. Fast forward to today, I received a preapproval offer for the QS visa by mail. I applied and was instantly approved for 2000. My other cards are in my siggy. I definitely don't want a secured card but I want a card with NFCU, especially since this is my primary bank. Any suggestions on next steps?

Re: Denied NFCU nRewards; approved for Cap1 QS

Creditaddict — Tue, 07 Jul 2015 23:52:51 GMT

@woodsie1 wrote:
I would really appreciate any feedback on my "interesting" situation. I applied for the NFCU nRewards on 7/2 and it immediately went into review. Yesterday I received a declined message. I reconned using the secured messaging and they said they had to stick to their original decision but suggested the secured card. I am confused! I've been with NFCU since 2009 and have an auto loan that has all on time payments. Fast forward to today, I received a preapproval offer for the QS visa by mail. I applied and was instantly approved for 2000. My other cards are in my siggy. I definitely don't want a secured card but I want a card with NFCU, especially since this is my primary bank. Any suggestions on next steps?

Wait until next month when the new Cap1 card starts reporting and apply for a Navy Cash Rewards Card.

Re: Denied NFCU nRewards; approved for Cap1 QS

woodsie1 — Tue, 07 Jul 2015 23:55:32 GMT

Thank you for your input CA. I will do as told!

Re: Denied NFCU nRewards; approved for Cap1 QS

Anonymous — Tue, 07 Jul 2015 23:56:13 GMT

once you get the cash rewards the QS will almost be pointless. both are 1.5% cash back uncapped

Re: Denied NFCU nRewards; approved for Cap1 QS

woodsie1 — Wed, 08 Jul 2015 00:00:04 GMT

I probably would have ignored the pre approval from cap1, had NFCU approved me. Oh well... I will try again once the QS starts reporting.

Re: Denied NFCU nRewards; approved for Cap1 QS

Anonymous — Wed, 08 Jul 2015 02:45:59 GMT

I use my Cap1 QS even though I have a NFCU cashRewards and a NFCU Flagship. Wifey and I are trying for a mortgage soon so I don't want any more cards reporting a balance. A couple days from when my Flagship statement cuts I'll pay off the Flagship and switch our daily spend to the Cap1 QS. I'll use that one until a couple days before the QS statement is about to cut, pay it off, then switch back to the Flagship. Our cashRewards card is currently carrying a 0% BT and any use will incur interest on the purchases (not the balance transfer)...

Re: Denied NFCU nRewards; approved for Cap1 QS

TRC_WA — Wed, 08 Jul 2015 03:23:02 GMT

@woodsie1 wrote:
My other cards are in my siggy. I definitely don't want a secured card but I want a card with NFCU, especially since this is my primary bank. Any suggestions on next steps?

What baddies do you have?

Starting scores TU: 537 EQ: 571 02/13
Current Scores TU:617 EQ: 622
Cards: Cap1 platinum: 2600; NY&Co 1125; VS 1650

Surprising nobody else mentioned your scores.

With scores in the low 600's it's not surprising NFCU denied your request for an unsecured card... even though they do hand out cards and limits like candy they have to drawn the line somewhere I guess.

Re: Denied NFCU nRewards; approved for Cap1 QS

Anonymous — Wed, 08 Jul 2015 03:24:43 GMT

i wouldn't say those scores are too low. scores aren't everything. saw a thread today with someone with a 598 get a $3k SL on a NFCU credit card app..

Re: Denied NFCU nRewards; approved for Cap1 QS

Anonymous — Wed, 08 Jul 2015 03:25:29 GMT

they'll give you an auto loan with a 550.... granted that's secured debt but still that's chancy..

Re: Denied NFCU nRewards; approved for Cap1 QS

TRC_WA — Wed, 08 Jul 2015 03:31:20 GMT

@Anonymous wrote:
i wouldn't say those scores are too low. scores aren't everything. saw a thread today with someone with a 598 get a $3k SL on a NFCU credit card app..

I wasn't talking about the scores.

The scores are indicative of baddies on the reports... which could have led to the denials and was the question I asked in my reply.

I know first hand about scores not being everything... I've seen 800's have to recon for Barclay Sallie Mae and I was instantly approved with a 665 TU due to the fact I had 16 months history with Barclays...

You are absolutely right... and I'm guessing by those scores there are baddies on the report that led to the denial.

Re: Denied NFCU nRewards; approved for Cap1 QS

Anonymous — Wed, 08 Jul 2015 03:40:17 GMT

yeah i didn't look that deep into it lol.

Re: Denied NFCU nRewards; approved for Cap1 QS

woodsie1 — Wed, 08 Jul 2015 04:20:39 GMT

i had a judgment due to my former rommate taking our final rent check and dashing back in 2009 (I was in college). The judgment was paid at the end of 2012. I explained this to NFCU in more detail. The only other thing on my CR is a red light camera ticket that I didn't know that I had, which has also been paid. I don't understand why they would approve me for a $30,000 auto loan in Jan but not a cc.

Re: Denied NFCU nRewards; approved for Cap1 QS

Creditaddict — Wed, 08 Jul 2015 04:25:26 GMT

I'm actually little shocked too.

but you know navy use to not give me anything and then all of a sudden they started to warm up to me... and I mean I had my account for SEVERAL YEARS!

Now I have 3 credit cards and the checking line of credit!

Re: Denied NFCU nRewards; approved for Cap1 QS

TRC_WA — Wed, 08 Jul 2015 13:02:46 GMT

@woodsie1 wrote:
i had a judgment due to my former rommate taking our final rent check and dashing back in 2009 (I was in college). The judgment was paid at the end of 2012. I explained this to NFCU in more detail. The only other thing on my CR is a red light camera ticket that I didn't know that I had, which has also been paid. I don't understand why they would approve me for a $30,000 auto loan in Jan but not a cc.

Secured vs unsecured. Big difference.

Same thing happened to me... approved with a local CU for a $40k auto loan... $0 down back in January.

Denied for a $500 CC.

Re: Denied NFCU nRewards; approved for Cap1 QS

OmarGB9 — Wed, 08 Jul 2015 13:37:17 GMT

Yes that collateral makes a huge difference lol