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NFCU Denial and Interesting Reasons

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Super Contributor

Re: NFCU Denial and Interesting Reasons

Those are some incredibly specific reasons. 

 

I wish they were all like this. 

 

It looks like Navy isn’t really comfortable being the only lender to loosen the purse strings for your right now. Seems kind of odd since they’re known to be everyone’s huge limit card. 

 

Sorry for the denial but thanks for sharing. Also had me go look up trended data use in credit cards and I stumbled on this from Experian

 

https://www.experian.com/blogs/insights/2016/06/what-is-trended-data/

 

So at least Experian is already offering solutions to lenders around trended data and has been since 2016. 

Current rotation:

01/2019:
05/2020:

Goal card: Cash+

P.S. I’m a dude, yo!
Message 11 of 20
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Community Leader
Super Contributor

Re: NFCU Denial and Interesting Reasons


@Saeren wrote:

Those are some incredibly specific reasons. 

 

I wish they were all like this. 

 

It looks like Navy isn’t really comfortable being the only lender to loosen the purse strings for your right now. Seems kind of odd since they’re known to be everyone’s huge limit card. 

 

Sorry for the denial but thanks for sharing. Also had me go look up trended data use in credit cards and I stumbled on this from Experian

 

https://www.experian.com/blogs/insights/2016/06/what-is-trended-data/

 

So at least Experian is already offering solutions to lenders around trended data and has been since 2016. 


It should be assumed that all banks keep trending data in regards to their accounts. This is just the first time I've seen a lender cite trended data from other lender's accounts.







Message 12 of 20
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Super Contributor

Re: NFCU Denial and Interesting Reasons

Yeah I never imagined that lenders don’t use their own trended data but it definitely is interesting to see NFCU admit that they use trended data for other accounts. 

 

I am still pretty shocked that they gave you a denial after a year of having their card though. Maybe they really are going to start tightening up. 

Current rotation:

01/2019:
05/2020:

Goal card: Cash+

P.S. I’m a dude, yo!
Message 13 of 20
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Valued Contributor

Re: NFCU Denial and Interesting Reasons


@Saeren wrote:

 

https://www.experian.com/blogs/insights/2016/06/what-is-trended-data/

 

So at least Experian is already offering solutions to lenders around trended data and has been since 2016. 


Great link, I've never taken all of that into consideration but it does make sense.  A current 'snapshot' or 'score' is just a superficial introduction into the applicant, having all of that history for 2 years does show a good behavioral analysis of the persons ability to navigate through what's in his/her profile.  So with Navy being the largest CU in the US, do they have the ability to analyze all of that data?  If they're using reasoning codes, perhaps.


Message 14 of 20
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Community Leader
Super Contributor

Re: NFCU Denial and Interesting Reasons


@Cred4All wrote:

@Saeren wrote:

 

https://www.experian.com/blogs/insights/2016/06/what-is-trended-data/

 

So at least Experian is already offering solutions to lenders around trended data and has been since 2016. 


Great link, I've never taken all of that into consideration but it does make sense.  A current 'snapshot' or 'score' is just a superficial introduction into the applicant, having all of that history for 2 years does show a good behavioral analysis of the persons ability to navigate through what's in his/her profile.  So with Navy being the largest CU in the US, do they have the ability to analyze all of that data?  If they're using reasoning codes, perhaps.


Thanks for mentioning that. On my CLOC denial they do, in fact, use reasoning codes and it was a different type of denial letter than I've ever received from them previously. Even different type of paper.







Message 15 of 20
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Community Leader
Mega Contributor

Re: NFCU Denial and Interesting Reasons

Sorry B. Looks like Instead of Navy handing out 25k limits people will have to make do with 20 insteadSmiley Wink
Message 16 of 20
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Valued Contributor

Re: NFCU Denial and Interesting Reasons

Thanks for posting your dp's.  Are you going to call for a manual review?  I've actually opened the cc app page and filled it out a few times but never followed through (I hate rejection).  NFCU sure did provide a lot of information here. 

Please keep us posted.




UNpopular opinions have served me well and will offer that which has worked for me.
Message 17 of 20
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Moderator

Re: NFCU Denial and Interesting Reasons


@Brian_Earl_Spilner wrote:


It should be assumed that all banks keep trending data in regards to their accounts. This is just the first time I've seen a lender cite trended data from other lender's accounts.


Well rats.  Smiley Sad

 

I'm sorry to see that things didn't work out, but I agree that you have some really good data points and it's interesting that they seem to be keeping track of trended data.  Like you say, now you can come up with a "plan of attack". Smiley Wink

 

One thing I'll mention is that possibly with a lower total utilization the factors they mention might not have come into play at all; that's just my speculation, of course.  We all know how NFCU loves low utilization and DTI (sorry, can't bring myself to use "UTI"... LOL). 

 

I know (from experience) that with more modest credit lines that lower utilization can be a pain to work with, since you would have to shift your routine on how/when you use your cards to make it happen, so it's understandable that your utilization appears higher than it otherwise would be.

 

Don't give up, though... you know all-too-well how NFCU can be, and the wait can really be worth it!  Smiley Wink

Message 18 of 20
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Community Leader
Super Contributor

Re: NFCU Denial and Interesting Reasons

@UncleB here's my thing, if they're trending 12 months worth of data, they should be expecting a surge in utilization during the holidays .that's a 3rd of the year right there. So, because they're trending 12 months, do I need to keep everything below 30% for a full 12 months before they show some love? Is it calendar year? Rolling 12 months?

 

Seriously disappointed, because the data here says if I had opened a secured card instead of cash rewards, my $500 limit would have quadrupled in less than a year. Are there rules saying they have to graduate to $2000? Would graduation taken longer if utilization was high?







Message 19 of 20
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Moderator

Re: NFCU Denial and Interesting Reasons


@Brian_Earl_Spilner wrote:

@UncleB here's my thing, if they're trending 12 months worth of data, they should be expecting a surge in utilization during the holidays .that's a 3rd of the year right there. So, because they're trending 12 months, do I need to keep everything below 30% for a full 12 months before they show some love? Is it calendar year? Rolling 12 months?

 

Seriously disappointed, because the data here says if I had opened a secured card instead of cash rewards, my $500 limit would have quadrupled in less than a year. Are there rules saying they have to graduate to $2000? Would graduation taken longer if utilization was high?


Excellent thoughts and questions all... I wish I had the answers.  Smiley Sad

 

I would hope that any impact trending data might have would only come into play as a tie-breaker, of sort.  In other words, if everything else were "in check" that a balance from months ago on a different card really wouldn't matter, otherwise you're right in that it raises even more questions.

Message 20 of 20
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