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Andrews FCU Denial

Caprisun987
Frequent Contributor

Re: Andrews FCU Denial


@8Hunnid wrote:

So...I actually misread the message. It isnt a form at all. Just a letter:


Good Morning,

 

Per your request,  to be reconsidered for a loan you can send a reconsideration letter to loanorg@andrewsfcu.org with any supporting documentation.

 

Thank you

 

loanorg@andrewsfcu.org

 

So unless there's a recon letter template (I'm not searching haha), I'm still gonna pass. Knowing how they've been so far, it'll probably be another triple pull smh


@8Hunnid I know you don't want to, so this is a big ask, but I don't see what you have to lose by asking for a recon. 

 

You already took three pulls, might as well make them worth something.

 

Did you get your denial reasons?

Message 11 of 19
8Hunnid
Valued Member

Re: Andrews FCU Denial

Valid points. I'll type something up this weekend. This will be my first real recon. I'm going to talk about direct deposit from work, deposits for savings and moving more spend to them on the Titanium card. I'll explain the HPs for the refinancing and car loan. Any other suggestions or advice would be appreciated. 

Trans 750 EX 750 EQ 750
CO Quicksilver 1,500
FNBO Speedway 11,000
Amex BCP 18,000
Barclay Uber 9,850
Sync Lowes 16,000
Chase FU (P2) 6,600
Chase F 12,000
Discover (P2) 18,000
US Bank Cash+ 12,000
General Electric CU 15,000
Hilton Honors 12,000
Utilization 4%
Negative - 30 day 5 years ago
Message 12 of 19
8Hunnid
Valued Member

Re: Andrews FCU Denial

Oh, and also what types of "documents" would be relevant?

Trans 750 EX 750 EQ 750
CO Quicksilver 1,500
FNBO Speedway 11,000
Amex BCP 18,000
Barclay Uber 9,850
Sync Lowes 16,000
Chase FU (P2) 6,600
Chase F 12,000
Discover (P2) 18,000
US Bank Cash+ 12,000
General Electric CU 15,000
Hilton Honors 12,000
Utilization 4%
Negative - 30 day 5 years ago
Message 13 of 19
cashorcharge
Valued Contributor

Re: Andrews FCU Denial

I have not done one before but if I had to guess, paycheck stubs would be relevant. Since it's early 2021, include your last 2020 which would align to your yearly annual income...assuming you had 1 job last year. Another thought...if you spend a lot with X card, maybe a recent statement to show throughput on that card you intend to move spend to them. I'm just guessing....

 

Looking forward to your update. 

Message 14 of 19
coldfusion
Community Leader
Super Contributor

Re: Andrews FCU Denial


@cashorcharge wrote:

I have not done one before but if I had to guess, paycheck stubs would be relevant. Since it's early 2021, include your last 2020 which would align to your yearly annual income...assuming you had 1 job last year. Another thought...if you spend a lot with X card, maybe a recent statement to show throughput on that card you intend to move spend to them. I'm just guessing....

 

Looking forward to your update. 


They do want to see last 2 paystubs as part of the approval process anyway.

 

I would include an explanation as to why you want the Titanium card, why it will be useful to you,  and how you plan on using it. 

If you have older derogs it's fair to comment on them but also that you learned from your mistakes as shown by your payment history since then.

 

Don't be afraid to sell yourself.

 



(2/2021)
FICO 8 (EX) 812 (TU) 816 (EQ) 804
FICO 9 (EX) 825 (TU) 827 (EQ) 826

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 15 of 19
8Hunnid
Valued Member

Re: Andrews FCU Denial

Long read, but here's the Recon letter (email) that I sent. Hopefully this works 

 

I was recently denied for the Titanium card due to too many inquiries. I was hoping someone could review my application and reconsider the denial.

At the time of applying, over two years I had either 5 or 6 inquiries, depending on the credit bureau. Two of them are for refinancing my mortgage, which lowered my monthly payment by $120.

My reasoning for the Titanium is to shift my grocery spending over from American Express. Since the Titanium card also gets 1.5 pts on non-category spending, it will get my online purchases. The other reason is that the card has a low APR, in case I need to carry a balance.

My credit profile is pretty strong. Although I do have one missed payment on my credit report, it was from five years ago. I've since had perfect payments. The Lighstream loan is for my wife's car, since she pays that, my debt-to-income is even better than it looks.

By getting the Titanium card, I'd be strengthening my relationship with Andrews. Since joining, I've deposited checks, set up monthly transfers for savings and in the process of switching my direct deposit.

I've included a screenshot of my grocery spend for last year that I plan to shift to Andrew's. There are 2 pay stubs attached as well.

I'm hoping that this can reverse the denial for the Titanium card. My application number is xxxxxxxx

Have a great day and I hope to hear from you soon. Thank you

Trans 750 EX 750 EQ 750
CO Quicksilver 1,500
FNBO Speedway 11,000
Amex BCP 18,000
Barclay Uber 9,850
Sync Lowes 16,000
Chase FU (P2) 6,600
Chase F 12,000
Discover (P2) 18,000
US Bank Cash+ 12,000
General Electric CU 15,000
Hilton Honors 12,000
Utilization 4%
Negative - 30 day 5 years ago
Message 16 of 19
2ski
Contributor

Re: Andrews FCU Denial


@8Hunnid wrote:

Long read, but here's the Recon letter (email) that I sent. Hopefully this works 

 

I was recently denied for the Titanium card due to too many inquiries. I was hoping someone could review my application and reconsider the denial.

At the time of applying, over two years I had either 5 or 6 inquiries, depending on the credit bureau. Two of them are for refinancing my mortgage, which lowered my monthly payment by $120.

My reasoning for the Titanium is to shift my grocery spending over from American Express. Since the Titanium card also gets 1.5 pts on non-category spending, it will get my online purchases. The other reason is that the card has a low APR, in case I need to carry a balance.

My credit profile is pretty strong. Although I do have one missed payment on my credit report, it was from five years ago. I've since had perfect payments. The Lighstream loan is for my wife's car, since she pays that, my debt-to-income is even better than it looks.

By getting the Titanium card, I'd be strengthening my relationship with Andrews. Since joining, I've deposited checks, set up monthly transfers for savings and in the process of switching my direct deposit.

I've included a screenshot of my grocery spend for last year that I plan to shift to Andrew's. There are 2 pay stubs attached as well.

I'm hoping that this can reverse the denial for the Titanium card. My application number is xxxxxxxx

Have a great day and I hope to hear from you soon. Thank you


Concise and persuasive. Good Luck!




Current FICO 8:
Current FICO 9:

Inquires :              

Message 17 of 19
8Hunnid
Valued Member

Re: Andrews FCU Denial

Phew...finally approved. Approval post coming soon

Trans 750 EX 750 EQ 750
CO Quicksilver 1,500
FNBO Speedway 11,000
Amex BCP 18,000
Barclay Uber 9,850
Sync Lowes 16,000
Chase FU (P2) 6,600
Chase F 12,000
Discover (P2) 18,000
US Bank Cash+ 12,000
General Electric CU 15,000
Hilton Honors 12,000
Utilization 4%
Negative - 30 day 5 years ago
Message 18 of 19
AllZero
Super Contributor

Re: Andrews FCU Denial

Excellent job on the reconsideration, congratulations!
Message 19 of 19
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