NFCU Cash Rewards declined... *super sad face*

[Anonymous]

Well, I finally received my Welcome to Navy Federal email and got an alert that a TU HP hit my report.  This took 2 weeks. I set up online banking and app'd for the cashRewards as I really wanted the low APR for a nice balance transfer. But alas... "Unfortunately, your request for credit has not met Navy Federal lending criteria for approval". Also a 2nd TU HP, which is status quo.

D*mmit. I sent them a private message in response to the application message and was given a 2 business day turnaround. 

I'm certain it was my currently high UTI. I'm hovering at 33% overall, but it will be back to under 20% in 4 weeks. Maybe I shouldn't waited, but we all know what that's like. 

Other data points:

TU: 670 (held down because of the UTI)

AAoA: 4.5 years

Oldest CL: 19 years

Inquiries within the last 12 months: 1  within the last 6 months: 0

1 baddie 5.5 years ago.

No lates within the last 5.5 years

I really hope the recon via message works. It's my first recon and I basically poured my heart out. LOL. 

[Anonymous]

What is your baddie? 

What are your scores when utility is not above 10%?

Im actually curious as to the denial reasons. Keep us posted. 

[Anonymous]

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@Justagirl73 wrote:

What is your baddie? 

What are your scores when utility is not above 10%?

Im actually curious as to the denial reasons. Keep us posted. 

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The baddie is a 2011 overdraft protection from Chase that went into collection and then charged off when I relocated to another country for work. It's a long story and they didn't budge so I didn't pay. I know it only hurts me in the end, but it'll be gone in 18  months and I can live with Chase's scarlet letter (for now).

Score's up 39 points to 709 when UTI drops below 10%.  And to think I was saving my HPs for this app. 

I know, I know... it'll be there waiting when my UTI is down and scores are back up in 90 days. Just gut wrenching, though. I really thought I still had a chance.

[Anonymous]

Maybe it's your income because I was approved for the CashRewards with a 655 FICO across the board.

[Anonymous]

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@Anonymous wrote:
Maybe it's your income because I was approved for the CashRewards with a 655 FICO across the board.

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It's 136k annual. But not sure if that's too low or if they have different criteria for non-military incomes?  

What was your SL, if you don't mind my asking...

[Anonymous]

My score was 650 with 2 baddies, and like you I got two HP's (one for opening one for card app) and a Denial. But I did recon and they approved me.

My SL was 1k in Novermber I'm going to ask for a CLI at 6 months which im hoping will jump to 5k then higher. I've heard NFCU may start small but will give big jumps with CLI's. My annual income is 53k.

[paulachristinej]

That sucks. When I got approved 2 years ago I had an open tax lien and a sub 620 score. I got $3k. They just bumped me to $15k with the scores in my sig (630ish). But I also have had the account for 15 years, didn't actively use it until 2-3 years ago. My income is good - they see the direct deposit.

Hopefully they will approve on recon.

[Anonymous]

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@Anonymous wrote:
My score was 650 with 2 baddies, and like you I got two HP's (one for opening one for card app) and a Denial. But I did recon and they approved me.

My SL was 1k in Novermber I'm going to ask for a CLI at 6 months which im hoping will jump to 5k then higher. I've heard NFCU may start small but will give big jumps with CLI's. My annual income is 53k.

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Thanks, Matt. I'd be happy with the 1k, honestly. I was super excited to learn how to qualify for membership as my first banking relationship in college was at the local CU and I haven't been a member in quite a long time. Consumer banks sort of get the spotlight, I guess. I hope the recon doesn't = a 3rd HP! Arrrgh. 

PaulaChristine, thanks! Very encouraging!

[Scupra]

Fingers crossed for your recon!

[Anonymous]

Don't fret too much.  I had a tough time getting any unsecured accounts with NFCU for a while but within a few months they suddenly began approving me for accounts.  I have a 10k NFCU rewards and a 15k CLOC as well as a 2k account that recently transitioned from being secured at 500.   My wife has had basically the same experience.  You might want to ask them for a secured account, my 10k was approved just a few weeks after I set up the secured account.