topic Re: NFCU CLI declined in Credit Cards

NFCU CLI declined

Anonymous — Thu, 09 Feb 2012 22:18:20 GMT

Applied for a CLI online and got 3-5 day message. Got a letter today saying i was declined and the reasons were

1) not sufficient income level

2)existing credit obligations

Joined NFCU in october and have 2 cards with $15 k each and a navcheck with $5k.

Income $65k, BUT now i make $85 K a year. Will reporting my higher income make them reconsider their decision?

FICO around 690

Re: NFCU CLI declined

bichonmom — Thu, 09 Feb 2012 22:21:52 GMT

@Anonymous wrote:
Applied for a CLI online and got 3-5 day message. Got a letter today saying i was declined and the reasons were
1) not sufficient income level
2)existing credit obligations

Joined NFCU in october and have 2 cards with $15 k each and a navcheck with $5k.
Income $65k, BUT now i make $85 K a year. Will reporting my higher income make them reconsider their decision?

FICO around 690

What is your current util? If they're saying "existing credit obligations," I would take that to mean money you owe. Beyond that, you already have $35k in avail credit with them. That's approximately 1/2 of your annual income. They have told me that they use algorithms for their credit decisionsl. So, I'm sure that's a factor.

I make $65k a year and they only gave me $1.5 k in credit, so I think you're doing pretty well.

Re: NFCU CLI declined

Anonymous — Thu, 09 Feb 2012 22:24:53 GMT

@Anonymous wrote:
Applied for a CLI online and got 3-5 day message. Got a letter today saying i was declined and the reasons were
1) not sufficient income level
2)existing credit obligations

Joined NFCU in october and have 2 cards with $15 k each and a navcheck with $5k.
Income $65k, BUT now i make $85 K a year. Will reporting my higher income make them reconsider their decision?

FICO around 690

stud007 with $35k in credit from them should be plenty based on income, credit obligations and credit score.

I wish I could even be a member with them

Re: NFCU CLI declined

Anonymous — Thu, 09 Feb 2012 22:29:37 GMT

I am at a 10% utilisation. I have a $5k balance on one their cards which was a balance transfer 0% for 12 months.

Apart from that i have $70 k in available credit and a $2k spread over other cards.

Can i cancel my navcheck and move the $5k balance to one of my credit crds because honestly its just a waste, i have never used it.

Also my income went up from $65k to $85 k now.

Re: NFCU CLI declined

bichonmom — Thu, 09 Feb 2012 22:31:47 GMT

I'm not familiar w/NavCheck. But they told me that I could PC my rewards visa when I was inquiring about a different card. So you probably could pc your NavCheck or transfer the CL. You'd need to call and find out.