@Anonymous wrote:@Anonymous they mentioned the bk but it mainly said my internal score. It was 329 out of 450
@Anonymous: 329 isn't a low Navy Fed internal score. From what I've seen, it's a little above average. I've read that BKs need at least 12 months past the discharge date before Navy Fed will grant more unsecured credit beyond the $2,000 graduation CL of the secured nRewards CC.
Can anyone with a discharged BK, a secured nRewards CC, and a second Navy Fed unsecured CC confirm the minimum time requirements before the second Navy Fed unsecured CC was approved?
@Anonymous wrote:@USMC_Winger That could be it. Didn't think about that. I thought I read post where other received second card after their nrewards upgraded but don't know how long post bk they were. Found the letter it also state
Key factors that affect my score average credit limits on open cards reported in the last 12 mo, limited credit experience, number of inquiries. Which at the time was only 4. No open satisfactory accounts 24 mo or older.
@Anonymous: Congrats on your nRewards CC graduation! You're on your way to good credit!
I recommend waiting at least 12 months after your Ch. 7 BK discharge date (1/14/2022) before applying for another Navy Fed CC. After applying for your 2nd Navy Fed CC, request a CLI on your cashRewards CC. (You're eligible for a CLI 6 months after the previous increase.) By that time, hopefully some of your 5 inquiries age off.
In the meantime, pay all your credit accounts on time every month, preferably in full, so you have positive histories on multiple trade lines as your credit history increases. (This will improve your limited credit experience.) If you do carry a balance on any CC, try to keep it below 29.5%. Lower utilization is better. As you can see from your denial letter, Navy Fed is monitoring your credit report (CR) monthly, not just your Navy Fed accounts.
I also recommend improving your FICO scores wherever you can. Try to clean up your CRs if any derogatory accounts are listed besides your BK. At least two months before you start applying for credit again, practice the AZEO method on your CCs if you can. That will probably boost your FICO 8 & 9 scores by ~10 to 20 points. Do you have any open installment loans? If not, you can gain 15 to 35 points on your FICO 8 & 9 scores by using the SSL Technique at Navy Fed. If you need an explanation of the AZEO method or SSL Technique, please let me know by posting a reply message with @USMC_Winger in the post so I receive a notification.