NFCU - Go Rewards Recon

[Kixforpa]

Hey Community! Need some suggestions to help DH. He applied for the GoRewards and was denied. I advised him that prior to applying for the Secured Card, he should ask for a recon. He asked on 06/19/2021 with the following request : "I would like to see if I can have a manual review of my recent Credit application. I know that I am a new member to NFCU, but with a manual review you can see that I have had exceptional payment history with all my credit cards for the past 3 years. Please reconsider my application. Thank you in advance!" - We thought that was a good straight to the point request. This is the message we get last night: You may appeal our decision by providing additional information not already included in your application and that supports reconsideration. Since your message did not contain this additional information, our decision remains unchanged. Any suggestions on what "other information" they are looking for. Do they want us to upload credit reports? Payment History? This would be greatly appreciated! Thank you!

[FinStar]

What was the reason they cited for being declined?

[Kixforpa]

Average Credit Limit of Open Credit Cards reported last 12 months. The Navy Federal Credit Score:269 out of 450

[FinStar]

Ok, if they cited that reason for the 12-month average, then he'd have to provide supporting documentation to the contrary.  It sounds like they've already considered/viewed his payment history (or trended data) from the CRA, so supplying any of that info would be a moot point. 

Your post also mentioned he's a relatively new NFCU member.  How long ago did he establish membership?  What other credit accounts does he have and what are the present limits?

[Kixforpa]

Hey FinStar, Thanks for the prompt response. He has the following tradelines: (CRA - Experian 627, Transunion 620) Apple-$1500 - 1 year CapOne VS - $1100 -1 year CapOne QS - $800 - 3 years CapOne QS -$800 - 3 years Merrick - $700 - 1 year Also, he has been with NFCU about 4 months. He has about $1000 sitting in the since day 1.

[FinStar]

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@Kixforpa wrote:
Hey FinStar, Thanks for the prompt response. He has the following tradelines: (CRA - Experian 627, Transunion 620) Apple-$1500 - 1 year CapOne VS - $1100 -1 year CapOne QS - $800 - 3 years CapOne QS -$800 - 3 years Merrick - $700 - 1 year

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Thanks for the extra details Kixforpa.

So, a quick napkin math calculation appears to indicate the average CL of all his revolving tradelines is around $980 (give or take).  Aside from the most recent additions, such as Apple Card and Capital One VS, how much usage is he cycling through the others?

My suggestion is to proceed with the NFCU secured card option which would allow him to build some internal history.  Eventually, he can qualify for a second (unsecured) card once he has built sufficient history to qualify.