Navy Federal declines request for Auto refi

Anonymous · ‎03-13-2013

Applied, instantly declined online no message of 3-5 days.

Myfico Eq score is 626.

Salary $110K per year.

Six accounts paid on time...

Utilization 54% which will drop to under 9% when balances hit on CRA.

(1) baddy on my EQ report

Currently have a Navy Federal CC since 11/2012 zero balance.

I just don't get it

Anonymous · ‎03-13-2013

Did you call and ask them why it was declined? It is possible that you have too much negative equity in the vehicle. What kind of vehicle is it and how much is left on it?

Anonymous · ‎03-13-2013

No neg equity, it's a 2007 GMC Acadia w/ 87000 miles fully loaded with avg trade value of $17-$18K
Loan request was under $18K.

Dustink · ‎03-13-2013

What is your current APR? Maybe Crap1 can help?

Too many INQs & low AAoA so I'm off to tend the Garden. Age:23

$17k $8.5K Closed $19k $6.5k $24.2k Closed $5k Closed $8.5k Closed @2.49%

dabrian · ‎03-14-2013

Possibly because of the high utilization.

NFCU Sig Cash-20k/ Amex BCP-19.4k/ Amex Costco-1.2k/Chase Marriott-12k/CSP-13.4k/ Freedom-5.5k/ Discover IT-14k/NCSECU-5k/Walmart-10k/Lowes-25k