topic Re: How soon to re-apply for a Navy Fed Personal Loan in Personal Finance

How soon to re-apply for a Navy Fed Personal Loan

Salahh — Fri, 23 May 2025 05:51:28 GMT

Applied for a $45k personal loan @ 36mo today over the phone. 814 TU, $27.5k total credit avail, 1% util, but AAoA is 6 months. That's likely the issue. Have been with Navy Fed 7 months; flagship checking, savings, CC (just got approved for $8k CLI 2 weeks ago), pledge loan (95% paid off), OOPS protection.

No derogs; only negatives is my AAoA and I don't have direct deposit with Navy Fed.

Re-applied with the same rep for $30k and was denied again.

Wondering how long to wait to try again, maybe with a smaller number.

Appreciate your thoughts.

Re: How soon to re-apply for a Navy Fed Personal Loan

Vinjints — Fri, 23 May 2025 13:04:49 GMT

What reason(s) did they specify for the denials? That would help paint a bigger picture.

Re: How soon to re-apply for a Navy Fed Personal Loan

pizzadude — Fri, 23 May 2025 16:20:54 GMT

Do you have any other installment loan history besides the NFCU pledge loan?

You may be correct about the AAoA but is your income / DTI also in a good place to support this loan?

Re: How soon to re-apply for a Navy Fed Personal Loan

Salahh — Fri, 23 May 2025 18:09:01 GMT

I haven't gotten the letter yet to know, but the rep said the code related to my credit report and not my income or internal standing.

My AAoA is 6 months, (1.5y, 7mo, 6mo, 1mo).

Income $125k/y, rent $250/mo.

This would be my first real loan outside of the pledge loan.

Re: How soon to re-apply for a Navy Fed Personal Loan

Vinjints — Fri, 23 May 2025 18:14:02 GMT

I was denied an auto loan with Navy last year, with an AoYA just under 3 months. I wasn't thinking about app timing, but that seemed to be their main issue. The other two items they listed on my letter, didn't make sense to me as truly valid reasons for denial.