NAVY Decline (Strange reasons)

The_Rooster · ‎09-15-2021

The application was declined based on the following factors:

BALANCE STATUS OF NAVY FEDERAL ACCOUNT(S) (The balance on my Navy More Rewards card is $25 - Or do they mean my checking/savings account?)
DIRECT DEPOSIT STATUS WITH NAVY FEDERAL (I'm self employed so have no direct deposit to put in there)
MONTHS SINCE OLDEST MORTGAGE TRADE OPENED (My mortgage was opened over 5 years ago)
NUMBER OF INQUIRIES ON CREDIT BUREAU REPORT (Guilty on this one)

Is it just me (i've certainly been wrong before), or are these strange reasons for declining an application based on my situation? My other Navy card has only a $25 balance - $1,500 limit. Mortgage is 5+ years old. Etc.

683 mid score.

Maybe I should transfer $5k into my Navy checking account and try again? Or should I wait a certain amount of time?

Shooting-For-800 · ‎09-15-2021

Navy is all about relationship.

I was originally declined for flagship.

Scores and reasons are hardly understandable.

I have $100 in checking and saving, no mortgage (wife), etc.

I got bigger cards and CLIs after my scores went DOWN.

Just check back periodically.

GL!

Rebuild started in 2014 - $100k unsecured credit in 2017 - $500k unsecured credit in 2024.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!

UncleB · ‎09-15-2021

@The_Rooster wrote:
The application was declined based on the following factors:

BALANCE STATUS OF NAVY FEDERAL ACCOUNT(S) (The balance on my Navy More Rewards card is $25 - Or do they mean my checking/savings account?)
DIRECT DEPOSIT STATUS WITH NAVY FEDERAL (I'm self employed so have no direct deposit to put in there)
MONTHS SINCE OLDEST MORTGAGE TRADE OPENED (My mortgage was opened over 5 years ago)
NUMBER OF INQUIRIES ON CREDIT BUREAU REPORT (Guilty on this one)

Is it just me (i've certainly been wrong before), or are these strange reasons for declining an application based on my situation? My other Navy card has only a $25 balance - $1,500 limit. Mortgage is 5+ years old. Etc.

683 mid score.

Maybe I should transfer $5k into my Navy checking account and try again? Or should I wait a certain amount of time?

Which NFCU card did you apply for?

MrBEW · ‎09-16-2021

Contact them to see if they would reconsider their decision. Cant hurt to try....

The_Rooster · ‎09-16-2021

@UncleB wrote:
@The_Rooster wrote:
The application was declined based on the following factors:

BALANCE STATUS OF NAVY FEDERAL ACCOUNT(S) (The balance on my Navy More Rewards card is $25 - Or do they mean my checking/savings account?)
DIRECT DEPOSIT STATUS WITH NAVY FEDERAL (I'm self employed so have no direct deposit to put in there)
MONTHS SINCE OLDEST MORTGAGE TRADE OPENED (My mortgage was opened over 5 years ago)
NUMBER OF INQUIRIES ON CREDIT BUREAU REPORT (Guilty on this one)

Is it just me (i've certainly been wrong before), or are these strange reasons for declining an application based on my situation? My other Navy card has only a $25 balance - $1,500 limit. Mortgage is 5+ years old. Etc.

683 mid score.

Maybe I should transfer $5k into my Navy checking account and try again? Or should I wait a certain amount of time?
Which NFCU card did you apply for?

Go Rewards.

The_Rooster · ‎09-16-2021

@Shooting-For-800 wrote:
Navy is all about relationship.
I was originally declined for flagship.
Scores and reasons are hardly understandable.
I have $100 in checking and saving, no mortgage (wife), etc.
I got bigger cards and CLIs after my scores went DOWN.
Just check back periodically.
GL!

Yes I agree.

Thats why I thought a year of perfect payments on the Navy More Rewards card would have gotten me an approval on this one.