Can’t get in with NFCU

jonnyc · ‎03-24-2019

Almost 1 year post discharge, applied for NFCU goRewards and was an instant decline. Overall utilization is 35%. They pulled TU which was 630. I tried recon but no go.

Denial letter came and these were the reasons:

- UTILIZATION OF REVOLVING ACCOUNT CREDIT LINES IN LAST 3 MONTHS
- NUMBER OF DELINQUENT PAST OR PRESENT CREDIT OBLIGATIONS
- NUMBER OF INQUIRIES ON CREDIT BUREAU REPORT
- LIMITED CREDIT EXPERIENCE

The only one that seems relevant is inquiries, I have 20 on TU 4 in last 6 months. From what I’ve read Navy isn’t Inq sensitivitie. I saw on here that they deny before 1 year of discharge but the reason given would be bankruptcy.

My navy score was 195. Do you think I should wait till next month when it’s 1 year? Or is this not the case? Not sure how to pursue navy or how to raise my internal score.

Bk Chp. 7 Discharged 04/13/2018
Date of filing: 01/11/2018

hawkins · ‎03-24-2019

Wait about 6 months and try again. But do it when your util shows 10% or less. They will let you in sooner or later.

Anonymous · ‎03-24-2019

I can see the concern, just under a year from discharge and you’re at 35% utilization. If I developed an internal score for a lender I would Score you low as well. I’m not trying to be critical or judgmental, just giving a view from the outside that may help you. I concur with waiting, more like 3-6 months though and at least until you get utilization under 10%.

McNugget · ‎03-24-2019

@jonnyc wrote:
Almost 1 year post discharge, applied for NFCU goRewards and was an instant decline. Overall utilization is 35%. They pulled TU which was 630. I tried recon but no go.

Denial letter came and these were the reasons:

- UTILIZATION OF REVOLVING ACCOUNT CREDIT LINES IN LAST 3 MONTHS
- NUMBER OF DELINQUENT PAST OR PRESENT CREDIT OBLIGATIONS
- NUMBER OF INQUIRIES ON CREDIT BUREAU REPORT
- LIMITED CREDIT EXPERIENCE

The only one that seems relevant is inquiries, I have 20 on TU 4 in last 6 months. From what I’ve read Navy isn’t Inq sensitivitie. I saw on here that they deny before 1 year of discharge but the reason given would be bankruptcy.

My navy score was 195. Do you think I should wait till next month when it’s 1 year? Or is this not the case? Not sure how to pursue navy or how to raise my internal score.

All of their reasons for denial seem pretty relevant, to be honest. I think time to let some of those inquiries and delinquents drop off will help, obviously paying down some of the utilization as well.

CreditInspired · ‎03-24-2019

@jonnyc wrote:
Almost 1 year post discharge, applied for NFCU goRewards and was an instant decline. Overall utilization is 35%. They pulled TU which was 630. I tried recon but no go.

Denial letter came and these were the reasons:

- UTILIZATION OF REVOLVING ACCOUNT CREDIT LINES IN LAST 3 MONTHS
- NUMBER OF DELINQUENT PAST OR PRESENT CREDIT OBLIGATIONS
- NUMBER OF INQUIRIES ON CREDIT BUREAU REPORT
- LIMITED CREDIT EXPERIENCE

The only one that seems relevant is inquiries, I have 20 on TU 4 in last 6 months. From what I’ve read Navy isn’t Inq sensitivitie. I saw on here that they deny before 1 year of discharge but the reason given would be bankruptcy.

My navy score was 195. Do you think I should wait till next month when it’s 1 year? Or is this not the case? Not sure how to pursue navy or how to raise my internal score.

20 inqs equate to desperately seeking credit. And you’re newly post discharge ar 35% UT. Theae 3 things are not good. Focus on creating a good credit profile. That means getting UT less than 8.9% and stop applying for credits. IMHO, I suggest waiting a year before applying for anything.

|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macys $24.2K || NFCU CLOC $15K || NFCU Platinum $15K || CitiCostco $12.7K || Chase FU $12.7K || Apple Card $7K || BOA CashRewards $6K

3se7ens · ‎03-24-2019

I joined NFCU in Sep.'17, by Jan.'18 I applied for the same cc you did and was denied.
The first thing I did was get my util. down as low as I can as fast as I can. (10% is good, 1% is Ideal)
The second thing was put my entire income tax refund of $2,500 into my share acct. and started
a direct deposit to let NFCU I was serious about building a fruitful relationship.
Then in March '18 they approved me for the NFCU Signature Cash Rewards $5,000.
It will happend, be patient and keep at it. Good luck!

As of 3/2022

EQ.-721 | TU.-731 | EX.-708

Top Cards:

AmEx Gold - $10,000 POT. BofA Americard $17,000 NFCU CR. $16,000 NFCU Plat.$15,000 FNBO Visa $14,800

Disco Miles $14,000 Chase FU $13,900 USAA Signature $13,000 PayPal MC $10,000

Macy's AmEx $25,000 Macy's AmEx (upgraded) $25,000

jonnyc · ‎03-24-2019

Does depositing in my share account increase my internal score? I know they offer a secured card but, I’m not looking to add a second to my wallet right now. I’m not in a rush to get in with NFCU however, it would be nice.

Bk Chp. 7 Discharged 04/13/2018
Date of filing: 01/11/2018

3se7ens · ‎03-24-2019

@jonnyc wrote:
Does depositing in my share account increase my internal score? I know they offer a secured card but, I’m not looking to add a second to my wallet right now. I’m not in a rush to get in with NFCU however, it would be nice.

I have no idea what the formula is to get their internal score. But what I do know is after
I put money into my share acct. and started a direct deposit my luck changed.

As of 3/2022

EQ.-721 | TU.-731 | EX.-708

Top Cards:

AmEx Gold - $10,000 POT. BofA Americard $17,000 NFCU CR. $16,000 NFCU Plat.$15,000 FNBO Visa $14,800

Disco Miles $14,000 Chase FU $13,900 USAA Signature $13,000 PayPal MC $10,000

Macy's AmEx $25,000 Macy's AmEx (upgraded) $25,000

Meanmchine · ‎03-24-2019

@jonnyc wrote:
Almost 1 year post discharge, applied for NFCU goRewards and was an instant decline. Overall utilization is 35%. They pulled TU which was 630. I tried recon but no go.

Denial letter came and these were the reasons:

- UTILIZATION OF REVOLVING ACCOUNT CREDIT LINES IN LAST 3 MONTHS
- NUMBER OF DELINQUENT PAST OR PRESENT CREDIT OBLIGATIONS
- NUMBER OF INQUIRIES ON CREDIT BUREAU REPORT
- LIMITED CREDIT EXPERIENCE

The only one that seems relevant is inquiries, I have 20 on TU 4 in last 6 months. From what I’ve read Navy isn’t Inq sensitivitie. I saw on here that they deny before 1 year of discharge but the reason given would be bankruptcy.

My navy score was 195. Do you think I should wait till next month when it’s 1 year? Or is this not the case? Not sure how to pursue navy or how to raise my internal score.

I can only imagine how many inqs you have on EQ and EX. I disagree with the above posters. If it were me, Id garden for a minimum of 1 full year starting TODAY. Stop apping. Youre only hurting yourself

=== Intervention over ====

Good luck

>3/2016 EX 644 CK-TU 642 CK-EQ 660 WalMart- 671.
>5/2023 All 3 reports 840ish (F8) F9s = 850 but my app finger is still twitching

rbentley · ‎03-25-2019

@3se7ens wrote:
@jonnyc wrote:
Does depositing in my share account increase my internal score? I know they offer a secured card but, I’m not looking to add a second to my wallet right now. I’m not in a rush to get in with NFCU however, it would be nice.
I have no idea what the formula is to get their internal score. But what I do know is after
I put money into my share acct. and started a direct deposit my luck changed.

Navy CSR's have told me that there is a wall between banking and credit. The existence of a checking account and direct deposit with them does not factor into credit decisions.