Denied NFCU nRewards; approved for Cap1 QS

[woodsie1]

I would really appreciate any feedback on my "interesting" situation. I applied for the NFCU nRewards on 7/2 and it immediately went into review.  Yesterday I received a declined message. I reconned using the secured messaging and they said they had to stick to their original decision but suggested the secured card. I am confused! I've been with NFCU since 2009 and have an auto loan that has all on time payments.  Fast forward to today, I received a preapproval offer for the QS visa by mail. I applied and was instantly approved for 2000. My other cards are in my siggy. I definitely don't want a secured card but I want a card with NFCU, especially since this is my primary bank. Any suggestions on next steps?

[Creditaddict]

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@woodsie1 wrote:

I would really appreciate any feedback on my "interesting" situation. I applied for the NFCU nRewards on 7/2 and it immediately went into review.  Yesterday I received a declined message. I reconned using the secured messaging and they said they had to stick to their original decision but suggested the secured card. I am confused! I've been with NFCU since 2009 and have an auto loan that has all on time payments.  Fast forward to today, I received a preapproval offer for the QS visa by mail. I applied and was instantly approved for 2000. My other cards are in my siggy. I definitely don't want a secured card but I want a card with NFCU, especially since this is my primary bank. Any suggestions on next steps?

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Wait until next month when the new Cap1 card starts reporting and apply for a Navy Cash Rewards Card.

[woodsie1]

Thank you for your input CA. I will do as told! 

[Anonymous]

once you get the cash rewards the QS will almost be pointless. both are 1.5% cash back uncapped

[woodsie1]

I probably would have ignored the pre approval from cap1, had NFCU approved me. Oh well... I will try again once the QS starts reporting. 

[Anonymous]

I use my Cap1 QS even though I have a NFCU cashRewards and a NFCU Flagship.  Wifey and I are trying for a mortgage soon so I don't want any more cards reporting a balance.  A couple days from when my Flagship statement cuts I'll pay off the Flagship and switch our daily spend to the Cap1 QS.  I'll use that one until a couple days before the QS statement is about to cut, pay it off, then switch back to the Flagship.  Our cashRewards card is currently carrying a 0% BT and any use will incur interest on the purchases (not the balance transfer)...

Oz

[TRC_WA]

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@woodsie1 wrote:

My other cards are in my siggy. I definitely don't want a secured card but I want a card with NFCU, especially since this is my primary bank. Any suggestions on next steps?

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What baddies do you have?

Starting scores TU: 537 EQ: 571 02/13
Current Scores TU:617 EQ: 622
Cards: Cap1 platinum: 2600; NY&Co 1125; VS 1650

Surprising nobody else mentioned your scores.

With scores in the low 600's it's not surprising NFCU denied your request for an unsecured card...  even though they do hand out cards and limits like candy they have to drawn the line somewhere I guess.

[Anonymous]

i wouldn't say those scores are too low. scores aren't everything. saw a thread today with someone with a 598 get a $3k SL on a NFCU credit card app..

[Anonymous]

they'll give you an auto loan with a 550.... granted that's secured debt but still that's chancy..

[TRC_WA]

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@Anonymous wrote:
i wouldn't say those scores are too low. scores aren't everything. saw a thread today with someone with a 598 get a $3k SL on a NFCU credit card app..

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I wasn't talking about the scores. 

The scores are indicative of baddies on the reports... which could have led to the denials and was the question I asked in my reply.

I know first hand about scores not being everything... I've seen 800's have to recon for Barclay Sallie Mae and I was instantly approved with a 665 TU due to the fact I had 16 months history with Barclays...

You are absolutely right... and I'm guessing by those scores there are baddies on the report that led to the denial.