So I joined Navy Federal this week after being eligible because of family member. After getting membership approval and funding account I decided to apply for Flagship card. I honestly thought it would be a forgone conclusion I would get it. My scores on all 3 bureaus are over 760 with great payment history and very little utilization. Well to my surprise I was declined and offered a secured card. I can’t understand what happened. Anybody have a idea where I might have gone wrong?
Highest current credit card limit is 32K with just under 3K balance. They said I didn’t qualify for the minimum limit of 5K. I’m really at a loss.
From what I have gathered reading this great forum, Navy Federal's Flagship card is their top of the line card, so you should have applied for maybe their Cash Reward card first, with most likely a starting limit of $1000, so that you could build up a good track record with them. I am certain you would be approved for that one or even the American Express one. Good luck to you.
I think someone on here did this recently. If you are willing to take another HP, go back and apply for a cash rewards or platinum card and see what the result is. My first and only card with Navy had a SL of $17.6k. But PenFed also started me out at $25k.