BEST TIME TO APPLY FOR NFCU CC

[Anonymous]

Congrats!

I’ve applied three times and been declined three times. I just can’t figure out why since my profile is as good as or even MUCH better than a lot of people I see getting approved. It’s nice hearing some people are still having success.

[Anonymous]

@ justtara

Im not sure if this will help but i asked them (several NFCU CC people who took my call) and they said that for CC applications they pull (HP) from Transunion. I had 3% credit utilization there. Both the EX and EQ show my Collections thus my CU% is high even though my two cards barely have anything on them. It still affects my score until now. I guess i might be fortunate a bit on that side of things.

I hope this helps.

[Anonymous]

TU says my util is 19% (actually, I think it’s 18% after the most recent update). I got the denial letter and it didn’t mention my collections, but it mentioned util (which was 19% at the time), inquiries (only 8 in 2017 and 3 were from Navy Federal), new accounts (most of them are authorized user accounts) and not enough credit history (I have two accounts from 2014 that were paid off in full with no lates). I have zero late payments on my report other than 4 collections, which they didn’t mention. I told them all this in my reconsideration message and they still said no. I just give up on them.

[Anonymous]

@justTara

i was denied with a TU 717 fico8. On recon I was told they didn't like lots of inquires and new accounts, unless you have a well established credit history. I was told to apply in 6-9 months and it would be almost an automatic approval.

[Anonymous]

@just tara

You might want to consider a pledge loan ( no pulls) with them $250 will be good for 6 months. It gets reported to all 3 bureaus and might help your score in the credit mixture part. It will also help in the "business relattionship part". What i have read in the blog here is that one person suggested this....open a pledge loan for $500. The money will be back in your account in a day or two. Then use that $500 to open up a secured card.  In this case you are doing three things A) buidling your Credit Score. B) Buidling a stronger relationship with NFCU 3) after 6-8 months you can try to either ask or apply for thier CC. It will show the amount of "relationship" you have with just this solution. As per NFCU customer service - this has worked well for alot of folks who were declined initially. 

Again, only you can decide the path. All i can tell you is that - what they say is true about the "generosity" of NFCU in the CL. Had i not gotten an approval my current UTIL % would be 60%+  due to a 2 collections (4k-4 years + 3k - 3 years). Now after my calculations it is at 35%. Still high but its a start.

Hope that helps