NFCU Pre-Approved, then DENIED!

[StephanZ]

About two months ago I recied my first NFCU CC, the Cash Rewards. Yesterday, they showed I was pre-approved for the More Rewards and the Flagship CC. I applied for the More Rewards , but was DENIED. Today I asked for reconsideration and I'm currently waiting.

TU Fico= 672

I've had a good credit history for over a year now, but did have some late payments and now paid charge-offs in the past. Currently, I have direct deposit, checking, savings, CD, CC, and pledge loan with them.

Could it be the past negative items holding back the approval, credit score, or did I apply for a new card too soon?

[JoeRockhead]

They have a 90 day between applications policy, so that was likely the reason for denial.

Their pre-approvals are also known to be very unreliable.

[GZG]

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@StephanZ wrote:

did I apply for a new card too soon?

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yes

they HP you for it?

[indiolatino61]

I hope your recon effort is successful. I no longer trust any pre-approval or pre-qualification offer. Back in the day, these used to mean something. Now, I think it is more a marketing tactic than anything else. It's akin to one hand not knowing what the other hand is doing. If they have a 90-day application policy, and they must be aware that you applied within that time frame, why even send a pre-approval offer? Best of luck to you.

[CreditCrusader]

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@JoeRockhead wrote:

Their pre-approvals are also known to be very unreliable.

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And yet, the applicant is saddled with a hard pull that sticks on the CR for two years.

Really getting fed up with the games these institutions play with people's credit. I avoid many of them like the plague for this very reason.

[StephanZ]

I would assume they did a hard pull, however I haven't seen it hit yet so maybe there's hope that I can at least avoid the HP.

[StephanZ]

I agree! In my experience Capital One is the only one who's pre-approval still means anything, but they also HP all three bureau's sadly.

[StephanZ]

Yup, just denied on appeal. Was the 90 day rule accouding to their message bot.

[DCC76]

They did the same to me. Since it was only a secured card, I didn't bother.  Pen Fed pulled the same crap - I got the BBB involved and suddenly it was approved for the 5K they promised. 

[pizzadude]

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@CreditCrusader wrote:

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And yet, the applicant is saddled with a hard pull that sticks on the CR for two years.

Really getting fed up with the games these institutions play with people's credit. I avoid many of them like the plague for this very reason.

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FICO only cares about the HP for one year, it's ignored after that