Hey everyone, so I'm currently rebuilding still (scores in my sig), but I finally managed to get in with Navy via GF/her family, so I was wondering what my approval odds are with a relatively dirty file. I still have 1 collection showing, 4 paid charge offs, 4 unpaid charge offs (1 more will be paid off prior to app; all COs and collections around 2-2.5 years old), three open TLs totaling $1500 and all with perfect payment history (2 are at least six months old, 1 is four months old), 2 closed auto loans (one with a few 30 day lates that are 2 years old, one with perfect history), 4 closed positive TLs, and I would do AZEO of course prior as well. DTI is a little skewed because of the collection and a fairly recent auto loan of $45k. Also have $55k in student loans, but all are in deferral since I'm still working on my masters. As for inquiries, EX - 10 (all in the last year, 6 from car shopping), EQ - 9 (6 in the last year, again from car shopping), TU - 13 (11 in the last year, mostly from car shopping).
Income is around $80-90k (travel for work and get reimbursed, but kinda stopped at the moment with the whole pandemic), so DTI is around 60-65%; however, auto loan is joint, so it's not entirely my debt. That being said, if I were to get denied for high DTI, would the fact that my auto loan is joint be something that could convince them to overlook it and the high DTI? I was thinking of going for a regular cash rewards, not flagship as I know about the whole siggy requirement.
Also, if I am denied a regular CC, would they counter offer/could I still apply for the secured card using the same HP?
Please let me know if you need any more info and thank you to all in advance for any insight. 
@M_Smart007 wrote:Call NFCU on the phone and ask a CSR if you have any prequal's?. (Usually solid)
I would not trust the online prequal tool.
I wasn't even aware they had an online prequal...I didn't see it anywhere? I did know about calling though, thanks. I suppose I can start there, though I'm still curious if anyone has any anecdotal evidence of getting in with some derogs still showing.
I'd think in the current economy (and probably even not) your DTI might be a concern. If the loan is joint and you live with your GF I'd talk to a rep and ask to include her income as well. Hopefully that brings the DTI somewhere less scary.
Yes, you should be able to use the HP for a secured card.
Honestly I'd just do the whole app via the phone since it's not so straight forward and their reps are awesome.
@M_Smart007 wrote:
@OmarGB9 wrote:
@M_Smart007 wrote:Call NFCU on the phone and ask a CSR if you have any prequal's?. (Usually solid)
I would not trust the online prequal tool.
I wasn't even aware they had an online prequal...I didn't see it anywhere? I did know about calling though, thanks. I suppose I can start there, though I'm still curious if anyone has any anecdotal evidence of getting in with some derogs still showing.
@OmarGB9, I have watched every approval for over a year, and have read of NFCU approvals withe Derogs.
I can't guarantee you would be approved...But it is possible. ,,,Calling would be the best! IMO
Thanks m_smart. I did do a search prior to making this thread, and I did see people being approved with COs and collections showing, but I guess my biggest concern is the whole DTI thing. I believe I've read that they're sensitive to that, and with 52k in debt on about 80-90k income, that's about 50-63% DTI, which I feel would possibly spook them. I know I won't know until I try, but I'm just trying to gather DPs prior to apping, particularly DTI related ones. But your vote of confidence definitely helps.
@Anonymousthank you for the DP, however, no credit in this case I think is a lot better than bad credit like I have lol. Still, it is encouraging that they're willing to take a chance!
@recoveringfrombk7 wrote:I'd think in the current economy (and probably even not) your DTI might be a concern. If the loan is joint and you live with your GF I'd talk to a rep and ask to include her income as well. Hopefully that brings the DTI somewhere less scary.
It's actually joint with my mom since my credit was borderline and my mom's is pretty good. Naturally I don't live with my mom, so would I still be able to talk to a rep about it and explain the situation and possibly include my mom's income?
" I believe I've read that they're sensitive to that, and with 52k in debt on about 80-90k income, that's about 50-63% DTI, which I feel would possibly spook them. I know I won't know until I try, but I'm just trying to gather DPs prior to apping, particularly DTI related ones. But your vote of confidence definitely helps.
@OmarGB9 Your DTI is calculated by your monthly payments divided by your monthly income...not you total balance by yearly income. That would assume your total $52k debt would be due in one year time. In all honesty, only $52k in debt is not much for $90k in income. That doesn't hide the other factor that could be at play but it should bring some clarity to the DTI issue.