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NFCU CLI success, Amex/Discover not so much. Next steps?

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Valued Contributor

Re: NFCU CLI success, Amex/Discover not so much. Next steps?

Congratulations on your CLI! 👍





My Cards:






Profile Type: New, Thick, 100% Clean
INQ's: EQ: 0 TU: 1 EX: 3 (last 12 mo.)
Recent Accounts: 4 (last 24 mo.)
Total CL: 28.95k Util. 3% AAoA: 1yr, 8mo.
AoOA: 2 yrs, 8 mo. AoYA: 0 mo. 100% PIF.





myFICO Member since: July 21, 2018 | Joined Community: Aug. 17, 2018 | Starting Scores: EQ: 716 TU: 738 EX: 698
Message 11 of 18
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Super Contributor

Re: NFCU CLI success, Amex/Discover not so much. Next steps?

Congrats on your Navy love

Good luck whatever you decide


3/2016 EX 644 CK-TU 642 CK-EQ 660 WalMart- 671.
>09/2020 CCT EX 818 TU 826 EQ 840

Color me your color, baby
Color me your car
Color me your color, darling
I know who you are
Come up off your color chart
I know where you're comin' from
Call me (call me) on the line
Call me, call me any, anytime
Call me (call me) my love
You can call me any day or night
Call me

Blondie - Call me ( 1978 )
Message 12 of 18
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Regular Contributor

Re: NFCU CLI success, Amex/Discover not so much. Next steps?

Don't feel bad Bunny about the AMEX declined.  I have the Blue Preferred at a $1k limit.   Applied several times for increase......NOTHING!  

2 weeks ago I was finally PRE-APPROVED for all of there cards.  Applied for the Green, Gold & Blue Cash Back.....APPROVED!  Feeling froggy....and bored several days ago applied for the Plat....APPROVED!   So they approve me for new cards but nothing on a CLI go figure.  lol

 

NFCU....I have the Cash Rewards (1st card I got with them) and I have the AMEX with them (2nd card).  Amex is $25K....Cash Rewards was $24K but just hit the love button a few weeks ago and only asked for $6k.....APPROVED!   

 

You can apply for a 2nd card with NFCU.  I called them a few days ago they have a Pre Approval thingy via phone not computer you can call and ask the Rep are you PreApproved for any of there cards....soft pull.   Try it out

Message 13 of 18
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New Contributor

Re: NFCU CLI success, Amex/Discover not so much. Next steps?

Morehouse3000:

On the pre-qual from NFCU by phone -- I wish I'd seen that a couple days ago, because I would have probably asked that before applying for the Amex More Rewards. Since I was declined for the More Rewards, my assumption is that I'd be declined for the other cards they have, too -- or am I wrong? Does the NFCU Amex have different standards than the other cards? Might I be eligible for other cards, maybe on reconsideraion? Is it still worth seeing what I'm pre-qualified for from NFCU, or best to just let it be? 

My inclination is to just leave NFCU alone for now. 

I will say that the only card it showed I was eligible for after I was declined was the secured NFCU card -- which is what I started with...oh...three years ago now? Wow. What a journey! Perhaps this summer, I'll just open another secured NFCU and let that graduate and use that to establish a More Rewards. Though, I really would prefer to just get a second NFCU card without having to go that route. 

SIDENOTE:

Getting interesting info on the declines. On one in particular -- I applied for the Citi Rewards + and I thought the letter would come back that I had too many inquiries AND didn't have enough income (as it did with Wells Fargo). Instead, it's just showing I have too many inquiries -- no reference to income. As I mentioned, it was just nuts that my apps nearly all hit my Experian report (except for one); I'd planned them so they were all spread out, and based on the data points, I thought it nearly impossible they'd all end up on the one report. But, alas, that's pretty much what happened. 

And I know how that looks -- like I was suddenly desperate for credit, when, in reality, I was just shopping for one or two cards to add that best fit my spending profile, expecting a decline or two, but not for every app to hit the same report. I'm a little frustrated that my Experian report is going to be tight for a few months while I wait for inquiries to fall off (4 or 5 of them will be off by October). 

But considering the decline letter from Citi -- I wonder if it's worth calling and asking them to reconsider? If it's just a matter of inquiries, maybe an explanation may make the difference, and they might approve a small line.

I also haven't gotten a letter from U.S. Bank yet, but they're still pending, too, technically -- and I'm wondering if I should call Monday (their office is closed now) to ask them to update me on the application and, if declined, depending on the reason, to reconsider, too. 

But any thoughts on Citi for now? It's interesting -- they just are focused on the inquiries. Is it worth giving them a call? 



Starting Score (Nov 2017): FICO 8 : TU - 510; EQ - 635; EX - 575
Recent Scores (Mar 2019): FICO 8 : TU - 776; EQ - 770; EX - 758
Current Scores (Feb 2020): FICO 8 : TU - 764; EQ - 790; EX - 776
Intermediate Rebuilding Phase Goal Score (Sep 2019) : FICO 8 - 760 across the board

Final Rebuilding Phase Goal Score (Sep 2020) :FICO 8 - 800 across the board

Take the myFICO Fitness Challenge

Other Stats: AAoA 9 Yrs | Inquiries (24 Mos): TU = 3 ; EQ = 3 EX = 6 | UTL = 10%
My Lineup: NFCU Go Rewards $22000 | Discover IT Cashback $2900 | Amex BCE $1000 | Target Redcard (Store Charge) $2000
Message 14 of 18
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Regular Contributor

Re: NFCU CLI success, Amex/Discover not so much. Next steps?

@Bunny.....I don't know about the Citi or US Bank as I have never applied.  I go to Citi's prequal site and they never have anything I'm accepted for so I just leave them alone which is fine with me.   

 

You're 100% correct on the NFCU.....If you get approved for the AMEX then as I was told by a Rep there you are approved for all of their cards except I think the Flagship which has different underwriting guidelines.   Now I know this for a fact because my last card I applied with them was for the Plat card got approved but then I called them regarding the AMEX card and doing a "product change" which they said I could.   I got a different interest rate when I switched from Plat to AMEX NFCU but the credit line remained the same.   I had my mother do the same thing as she got approved for one of the cards I think the Rewards and I had her switch over to the AMEX no problem took less than 5 min over the phone.  

 

My advise to you is before applying for anymore cards always use the prequal sites....AMEX, NFCU, Discover,  BB&T, Cap Chase, Citi are the ones I can think of off the top of my head that have them with no hard pull on your credit report.   I go to them at least once a month just to see what if anything I"m approved for.   I have a past BK13 which Nov 2020 should drop off so they still hold that against me or at least Discover does.  Amex did as well until after 5 years they finally let me in with the Blue Preferred but they deny me CLI because of the BK.  Strange huh.   I would never get approved for any other card until about 3 weeks ago as I was doing my normal prequal check and finally AMEX had me approved for ALL of their cards.  I jumped on 4 of them....Green, Gold & Plat charge cards and the Everyday Blue....got all of them now.   So it's just something that comes in time....pay down the cards you have and keep checking prequal sites I noted above.

Message 15 of 18
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New Contributor

Re: NFCU CLI success, Amex/Discover not so much. Next steps?

Update: 

I tried my first reconsideration -- with Citi. Morehouse had me thinking -- which is that, actually, I was prequalified with Citi, for the Rewards +. And sure enough, I found the mailers. 

I called the reconsideration line and, sure enough, it's all because the credit pulls from my apps last week fell on my Experian. The person was as nice as can be, but (of course) they couldn't tell me anything about their process or what to do next -- other than to wait. 

They did say that Citi randomly picks credit reports, so based on that it would seem that if Citi had pulled TU or EQ -- I may have been approved. 

The Experian report just happened to have a lot of inquiries on it and, adding in the declines and pendings, by the time I apped with Citi, their system wasn't going for it -- and they he can't override it. It sounds they would, if they could though -- the decision was just based on inquiries. 

So, I have some options: 

1. I have inquiries that are going to fall off of Experian. In fact, I have one that persists on my Experian report that I'm going to have to contact them about, that should have been off. Altogether, out of 10 inquiries I now have, 6 will be gone by October. And I could and should perhaps reapply with Citi then. 

2. I could write a letter to Citi for reconsideration. I've read in different places that writing a letter sometimes is better than calling. I'm tempted to do this, because I really would rather not let an inquiry go to waste for two years (I really thought Citi was a lock, based on the mailers I got). 

I may take both paths with Citi, but I really hate having a credit card company pull twice from a report -- such as in October. So, I'm going to try writing the letter. If anyone has any suggestions on how I might craft the letter,  I'd appreciate it. I may post a new topic elsewhere to solicit suggestions.

One thing they said was that the reason they get concerned with inquiries is that when an applicant has a bunch of them, they could end up with many cards in a months time -- and they like to see how someone handles credit. In this case, I wasn't going to end up with a bunch of cards I didn't want; these were all cards I had a plan for, if I was approved for them all (including Citi). But I also expected I'd be declined for a couple of them; they were perhaps just a bit beyond my "reach", I had a feeling, but not impossible, I just planned on and was comfortable with declines, especially to get the decline letters back for more information. 

I dunno -- I feel like there is a good basis for a reconsideration letter to Citi in all this. LOL. So I'm going to give it a shot. 

On my U.S. Bank application, I called in and found out I was declined. So, I'm calling U.S. Bank a little later, and asking them to take a second look. Reading up on reconsideration for them, but I have a feeling Citi might be my best bet. Wish me luck with all these; totally new to them! Thanks!









Starting Score (Nov 2017): FICO 8 : TU - 510; EQ - 635; EX - 575
Recent Scores (Mar 2019): FICO 8 : TU - 776; EQ - 770; EX - 758
Current Scores (Feb 2020): FICO 8 : TU - 764; EQ - 790; EX - 776
Intermediate Rebuilding Phase Goal Score (Sep 2019) : FICO 8 - 760 across the board

Final Rebuilding Phase Goal Score (Sep 2020) :FICO 8 - 800 across the board

Take the myFICO Fitness Challenge

Other Stats: AAoA 9 Yrs | Inquiries (24 Mos): TU = 3 ; EQ = 3 EX = 6 | UTL = 10%
My Lineup: NFCU Go Rewards $22000 | Discover IT Cashback $2900 | Amex BCE $1000 | Target Redcard (Store Charge) $2000
Message 16 of 18
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Frequent Contributor

Re: NFCU CLI success, Amex/Discover not so much. Next steps?


@AllZero wrote:
Congratulations on your CLI!

Sign up bonus comes back after March 2.

March 3rd for M_Smart007. 😉

+1 3/3

Message 17 of 18
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Frequent Contributor

Re: NFCU CLI success, Amex/Discover not so much. Next steps?


@thebunnyhop wrote:

Hi all!


Hope all is well. Glad to see everyone hard at work on their credit, plugging away. 

Checking in after spending some time focusing on other things, and otherwise taking care of minor things financially (i.e., "gardening"), it was time for me to ask for additional credit from my lenders. I mostly did this because I wanted to keep my UTL lower -- I pay my statement balance every month, don't carry new balances, but I put all my spending on my credit cards, and this was getting me above 6% UTL and affecting my scores (whenever a credit agency would report them.)

Recently, in December, Discover AUTO CLI me from 2k to 2900 -- but today, they declined me for additional CLI.

I also tried Amex, at 3x CLI -- but also there was a decline. I remain at 1k.

I'd planned on asking for an increase at NFCU, from my 2k, anyway. Even though I wasn't having luck with Amex or Discover, I decided to go for it yesterday, as -- during a call about something different -- they offered to review my rate for a decrease without an HP. When I was approved for the rate decrease (lowest rate at 10.49%), I thought it was a good sign and that I should apply for my CLI. 

Last night, I applied -- asked for 25k. I got a review notice last night, went to bed, and then woke up this morning to a CLI of 20k for a total of 22k. 

I'm pleased; this will help greatly with my UTL.

Now I've got some thinking to do: 

1. I really would like to open a 2nd NFCU card -- probably the Amex More Rewards card -- especially considering how much difficulty I have in getting Amex to increase my credit line. I'd planned on getting a 2nd card with NFCU regardless. But is it better to apply separately for the Amex NFCU? Should I do it now? Or is it better to split off some of the new CLI into the Amex card? I've heard that is an option. Thoughts?

2. I'm fine with sitting with Discover without pushing/changing -- they seem to auto CLI on their own accord. But I am frustrated with Amex -- I really would like to have even a bit more credit, as I like their Pay It/Plan It Feature. But at 1k, it just makes it tough to spend with them. Any thoughts?

I'm about to embark on some additional card apps I had planned that fit my spending, but I plan on deciding on NFCU first -- since they've been so good to me. Looking forward to your replies.

Thanks!


Congrats! Good luck on your other apps.

Message 18 of 18
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