What a frustrating experience with First National Bank of Omaha! Last month, I applied for the Ducks Unlimited card. Being a member of Ducks Unlimited, an avid conservationist, and doing a lot of driving, I was naturally drawn to the card's promise of 5% cash back on gas purchases.
My application went pending and for almost two weeks I heard nothing. Checking their website for the status of my application revealed that it was "pending". Finally today I called and asked a CSR to check on the status. She admitted no one had yet even looked at my application and promised to send it for review today.
An hour later, I received an Email saying they'd made a decision. I logged in and discovered that my application had been denied.
Frankly, I'm surprised. For reference, at the time of application my FICO scores were all in the low 700s. FNBO pulled Experian, which was showing 5 inquiries in the past 12 months. Utilization is less than 30% on average and my income is relatively high (~$400K). I don't get it?!
Op, sorry for the denial. All of the points above make sense as possible reasons for the denial. You also mentioned your credit utilization is "is less than 30% on average." If you are saying on Average, was it below 30% at the time of the app?
I just replied in the other thread, but sorry to hear about the denial, they should’ve been able to tell you why they denied it, but my guess would be due to the INQ’s. I will contest what others have said about the score & high utilization as neither of those should be a factor as my score is lower and my util is the same. I was denied based on too many INQ’s NOT low score or higher utilization. I would find out why they denied you DONT wait any longer, you have 30 days since app was submitted to get a reconsideration but keep in mind they will most likely pull credit again(I would assume to see if you applied anywhere else since this application). I posted the reconsideration number I used in the other thread. Good luck!
Got an e-mail just a little bit ago & I was approved, I’m not sure on the CL yet, but I would highly suggest calling the recon line. Good Luck!!
@KDKobes wrote:
I just replied in the other thread, but sorry to hear about the denial, they should’ve been able to tell you why they denied it, but my guess would be due to the INQ’s. I will contest what others have said about the score & high utilization as neither of those should be a factor as my score is lower and my util is the same. I was denied based on too many INQ’s NOT low score or higher utilization. I would find out why they denied you DONT wait any longer, you have 30 days since app was submitted to get a reconsideration but keep in mind they will most likely pull credit again(I would assume to see if you applied anywhere else since this application). I posted the reconsideration number I used in the other thread. Good luck!
Update: @KDKobes was right; according to the letter I received from FNBO, I was denied the DU card due to "too many inquiries". My scores and utilization apparently weren't factors in the denial.
If FNBO is that particular, I guess I don't need the card after all. My new Discover IT card will pay 10% cash back on gas in the 3rd qurater of 2019 anyway! (Discover pays 5% cash back on gas in the 3rd quarter, and matches all cash back at the end of the first year).
FICO 8 EX: 706, EQ: 716, TU: 720
