NFCU - Credit Card Denial

[Anonymous]

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@UncleB wrote:

Just a note that with NFCU the underwriting is the same on all their cards; you can even freely PC between any of the MasterCard/Visa products with no problem at all.  For a time some thought that the underwriting for their Amex might be more strict, but now it seems to be similar (if not the same) as well.

The only NFCU card that is notably different is the Flagship Visa - it has a $5k minimum credit line.  If there's a concern that someone might not be eligible for $5k it is usually suggested for them to apply for one of the other Visa products then PC to the Flagship if that's what they actually want (assuming a $5k or higher approval on the card they apply for, of course).

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I would agree on the underwriting part.  I think the PC issue is the payment network not really the cards themselves.   Flagship is harder with the 5k minimum, but when you look at it, the benefits really arent there compared to other travel cards tho

[mithrildreams]

DTI is the one thing I didn't check.  My UTI is terrrible so that may have been another big factor.  I think I'm going to work on my UTI and app again in a couple of months. 

[Anonymous]

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@AverageJoesCredit wrote:
With Navy clearing up collections isnt necessarily true. We see people with sub 600 get approved and people in low 600s get big limits . It's just a ymmv thing with Navy.

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I got approved for a 6500 limit when I had a 580 score.  

[Anonymous]

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@mithrildreams wrote:

I applied on last Sunday, sent a recon email Monday.   Today I got the denial letter with reason.  Too many inq, utilization too high, and collections.  I’ll call and see if they can use the recent pull.  I’ve had too many because when I asked for CLI four of my account did a hard pull.  I’ll let you know the results.

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I bet it is your utilization that is stopping you. What is your utilization? 

[Anonymous]

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@mithrildreams wrote:

DTI is the one thing I didn't check.  My UTI is terrrible so that may have been another big factor.  I think I'm going to work on my UTI and app again in a couple of months. 

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Sounds like a good plan.  if your util is high enough to affect your DTI, that's a red flag.  Great thing is that util has no memory, once its paid it's like it never happened. 

[Anonymous]

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@Anonymous wrote:

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@AverageJoesCredit wrote:
With Navy clearing up collections isnt necessarily true. We see people with sub 600 get approved and people in low 600s get big limits . It's just a ymmv thing with Navy.

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I got approved for a 6500 limit when I had a 580 score.  

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That is awesome.   Congrats on a killer SL for a most scores around 700 let alone a 580

[Anonymous]

"Great thing is that util has no memory, once its paid it's like it never happened. "

Navy still can see it though. Both of my CC approvals came with cost of credit letters that mentioned " high balances last 3 months" probably won't really matter but I'm waiting to string together three low months before I go for card #3.

[Anonymous]

" high balances last 3 months"

This happened to me as well and is probably the reason I only got $1K instead of more with a 680 score. I went from 78% Util to 24% before I Apped with NFCU. Penfed gave me $10K so I thought I would get similar with NFCU.