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Denied Navy 91/3 Second Card :( Credit score is up 100 points and have more history

Morphyyy
New Contributor

Denied Navy 91/3 Second Card :( Credit score is up 100 points and have more history

Was approved for $500 on my last card and statement cut on the 19th just tried to apply for CashRewards and MoreRewards and was denied for both. My credit score is 100 points higher on fico than it was when I got the first approval. I'm confused? I've probably spent my $500 limit 4 times every month and paid it off within a couple of days and made sure I was AEZO with a 6% Utilization? Tons of dealership inquires and credit average age is 4 months maybe that's why?

 

Anybody know what could of went wrong?

Message 1 of 16
15 REPLIES 15
Brian_Earl_Spilner
Community Leader
Mega Contributor

Re: Denied Navy 91/3 Second Card :( Credit score is up 100 points and have more history

Sometimes it just happens. I was in an almost exact same position as you. Opened my account and cash rewards in May 2018 for $500. I couldn't get approved for anything else until September 2019, not even CLIs. Since then, my Cash Rewards has grown to $2900 and I PCd it to More Rewards, opened a Platinum for $3900, was pre-approved for a $50k auto loan, and opened a CLOC a couple of days ago.

 

Some of us just don't get those magic approvals for some reason, but they should warm up to you eventually. Just don't be like me and apply for everything every 91 days based on what's reported here. I ended up with 11 or 12 inquiries that caused me problems with approvals and CLIs on other cards. Call in every 91 days to see if you're pre-approved for anything. If you are, apply for it, then go back and request a CLI on the CR. Otherwise, save your inquiries.




Message 2 of 16
Morphyyy
New Contributor

Re: Denied Navy 91/3 Second Card :( Credit score is up 100 points and have more history

Thank you! That's very true, maybe it's the hard inquiries Smiley Sad A delearship gave me a ton and when I try to pre approve for anything it says to many inquires ever since then but I haven't applied for anything since I got the first Navy card. I guess I'll just have to wait, how long do you usually have to wait until the "too many hard inquiries" goes away?

Message 3 of 16
Mr_Mojo_Risin
Valued Contributor

Re: Denied Navy 91/3 Second Card :( Credit score is up 100 points and have more history

I've been seeing more of this recently. My 91/3 is tomorrow on the 21st, I'm waiting 6 months to app for 2nd CC. To many denials recently at 91 days, especially for new/ thin files.

Just try to keep the faith. Keep PIF every month and maybe check back at the 6 or 12 month mark. 

NFCU More Rewards 24K CL
AODFCU Visa Signature 5K CL
NFCU Cash Rewards 4K CL
Discover IT 1.5K CL
Cap1 Quicksilver 600 CL
NFCU auto loan
Message 4 of 16
Brian_Earl_Spilner
Community Leader
Mega Contributor

Re: Denied Navy 91/3 Second Card :( Credit score is up 100 points and have more history


@Morphyyy wrote:

Thank you! That's very true, maybe it's the hard inquiries Smiley Sad A delearship gave me a ton and when I try to pre approve for anything it says to many inquires ever since then but I haven't applied for anything since I got the first Navy card. I guess I'll just have to wait, how long do you usually have to wait until the "too many hard inquiries" goes away?


It depends on the lender.  Some don't care how many you have, others care that you have 2. And still others, will count how many inquiries vs actual approvals from those inquiries.

 

Also, keep in mind that Navy does track what you're doing with your other 3rs party accounts for the last 12 months.




Message 5 of 16
Brian_Earl_Spilner
Community Leader
Mega Contributor

Re: Denied Navy 91/3 Second Card :( Credit score is up 100 points and have more history


@Mr_Mojo_Risin wrote:

I've been seeing more of this recently. My 91/3 is tomorrow on the 21st, I'm waiting 6 months to app for 2nd CC. To many denials recently at 91 days, especially for new/ thin files.

Just try to keep the faith. Keep PIF every month and maybe check back at the 6 or 12 month mark. 


That's a smart move. Unfortunately, the way Navy's approvals are talked about here are like they're basically a sure thing, and if you don't get one, there's something wrong with your profile. The reality is, nobody knows why Navy will give someone with a 550 a $25k credit card while denying someone with a 680 FICO 9.




Message 6 of 16
randomguy1
Valued Contributor

Re: Denied Navy 91/3 Second Card :( Credit score is up 100 points and have more history

Did you get the decline letter yet? What were the reasons provided and what was your credit score on the letter?

Message 7 of 16
recoveringfrombk7
Established Contributor

Re: Denied Navy 91/3 Second Card :( Credit score is up 100 points and have more history


@Morphyyy wrote:

Was approved for $500 on my last card and statement cut on the 19th just tried to apply for CashRewards and MoreRewards and was denied for both. My credit score is 100 points higher on fico than it was when I got the first approval. I'm confused? I've probably spent my $500 limit 4 times every month and paid it off within a couple of days and made sure I was AEZO with a 6% Utilization? Tons of dealership inquires and credit average age is 4 months maybe that's why?

 

Anybody know what could of went wrong?


Just another thing to consider is that Navy is very sensitive to DTI.  So although your utilization is only 6%, if your DTI is not in a great place they will not extend you more credit, even if your scores are decent.









Message 8 of 16
Mr_Mojo_Risin
Valued Contributor

Re: Denied Navy 91/3 Second Card :( Credit score is up 100 points and have more history


@Brian_Earl_Spilner wrote:

@Mr_Mojo_Risin wrote:

I've been seeing more of this recently. My 91/3 is tomorrow on the 21st, I'm waiting 6 months to app for 2nd CC. To many denials recently at 91 days, especially for new/ thin files.

Just try to keep the faith. Keep PIF every month and maybe check back at the 6 or 12 month mark. 


That's a smart move. Unfortunately, the way Navy's approvals are talked about here are like they're basically a sure thing, and if you don't get one, there's something wrong with your profile. The reality is, nobody knows why Navy will give someone with a 550 a $25k credit card while denying someone with a 680 FICO 9.


Yeah it seems backwards alot of times. Amazing seeing those amounts handed  out like that for sure.

I'm gonna wait it out another 3 months and see how it turns out.

NFCU More Rewards 24K CL
AODFCU Visa Signature 5K CL
NFCU Cash Rewards 4K CL
Discover IT 1.5K CL
Cap1 Quicksilver 600 CL
NFCU auto loan
Message 9 of 16
M_Smart007
Epic Contributor

Re: Denied Navy 91/3 Second Card :( Credit score is up 100 points and have more history


@Mr_Mojo_Risin wrote:


Yeah it seems backwards alot of times. Amazing seeing those amounts handed  out like that for sure.

I'm gonna wait it out another 3 months and see how it turns out.


It is MHO that Navy has a tendency to favor the not so perfect.

Message 10 of 16
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