NFCU Denial - UGH

[Anonymous]

My husband was turned down for the cashRewards card from NFCU and we just got the letter with reasons, and they blow my mind. No mention of his bankruptcy or his collections. Instead, these were the reasons:

Number of inquiries on credit bureau report (he has tons thanks to getting turned down for a car loanat the Nissan place, and they were almost all from that one thing)

Limited credit experience (he has over a dozen accounts stretching back for over 10 years, all paid as agreed, just a few recent collections)

Average credit limit of open credit cards reported last 12 months (I don't even know what this means? He doesn't have high utilization, if that's what it means, but he does have a lot of low limit cards because his credit isn't great)

Months since a bank card balance exceeded its credit limit (he hasn't been over his credit limit on anything in several years except a couple of collections that added HUGE late fees a couple of years ago when our child was in the hospital for 2.5 months and that took him over his limit on a couple, but it's been over two years ago.)

We tried for a recon, but got denied. I'm so confused. What in the actual F?

I just don't understand any of these reasons, because they don't apply, and they don't even mention the things that WOULD be a problem like his collection accounts.

[Anonymous]

---

@Anonymous wrote:

My husband was turned down for the cashRewards card from NFCU and we just got the letter with reasons, and they blow my mind. No mention of his bankruptcy or his collections. Instead, these were the reasons:

Number of inquiries on credit bureau report (he has tons thanks to getting turned down for a car loanat the Nissan place, and they were almost all from that one thing)

Limited credit experience (he has over a dozen accounts stretching back for over 10 years, all paid as agreed, just a few recent collections)

Average credit limit of open credit cards reported last 12 months (I don't even know what this means? He doesn't have high utilization, if that's what it means, but he does have a lot of low limit cards because his credit isn't great)

Months since a bank card balance exceeded its credit limit (he hasn't been over his credit limit on anything in several years except a couple of collections that added HUGE late fees a couple of years ago when our child was in the hospital for 2.5 months and that took him over his limit on a couple, but it's been over two years ago.)

We tried for a recon, but got denied. I'm so confused. What in the actual F?

I just don't understand any of these reasons, because they don't apply, and they don't even mention the things that WOULD be a problem like his collection accounts.

---

Credit unions in general can be particularly inquiry sensitive.

I read the average credit limit comment as talking about his high number of low limit cards.

I don't think 2 years since exceeding his credit limit would be a big deal on it's own, but in combination with the above maybe it factored in?

Although they didn't state it specifically, I bet the recent collections are a factor.

Did they offer him a secured card?

[Anonymous]

Yes, they did say the secured card "might" be an option in the denial letter. He and I are both saving up to open a secured card with them, but having just had another kid in the hospital (this time for "only" a week, not 2.5 months like the last one) money is crazy tight. Should be back on track in a couple of months and then we will open them.

[Anonymous]

Send in paystubs via secure message and ask for a reconsideration. 

[Anonymous]

---

@Anonymous wrote:

Send in paystubs via secure message and ask for a reconsideration. 

---

I did that right after the denial and they still said no.

[Anonymous]

---

@Anonymous wrote:

---

@Anonymous wrote:

Send in paystubs via secure message and ask for a reconsideration. 

---

I did that right after the denial and they still said no.

---

fico frown. I would say go for the secured they are always generous.

[Gmood1]

Don't feel bad, I received a similar denial from them. Lol
The letter was ridiculous! Nothing in the letter applied to me. Navy does some weird stuff sometimes. And I have one CC and CLOC with them already. My reports are spotless! I figured I'd not waste any more HPs on them. What I have with them now will suffice. They constantly send me preapprovals for auto loans..Not going to happen. I'll use Penfed first.

[fltireguy]

The high balance a while back has no bearing on the denial, as utilization has no memory

[kugel]

What's your income?
My wife got a denial and was told to open a secured card I told her not to and try again later and 3 months after she got approved

[Glen_M]

---

@fltireguy wrote:
The high balance a while back has no bearing on the denial, as utilization has no memory

---

It will if you go over the credit limit.  And how you got there won't matter, principal, fees, interest etc.