NFCU Recon initial CL declined

[Anonymous]

Hi all,

As I posted yesterday I was approved online for NFCU Cash Rewards instantly w/ $1300 CL - 615TU 9 inq, 56% util on $1400 current debt 

I immediately sent a secure message asking to recon for 3K CL based on TU pull shows misreported utilization (included screenshots showing 27% across other CRB), explained all the work I have done this year, etc, and also provided proof of income.

18 hours later the recon was declined, the response included below. One interesting thing to note is another member, just a few posts down was approved for double my CL with a lower score, but doubly my income - as he pointed out maybe part of there internal check.

"

Thank you for your message. We received your inquiry for reconsideration on your line of credit. Because we take our members' concerns seriously, we conducted a second review of your application. After careful consideration, we have determined that you do not qualify for any additional credit at this time. Every financial institution has its own guidelines and qualification factors to determine a line of credit. Unfortunately, at this time we are unable to increase your line of credit.

In addition, since there are multiple factors involved in reviewing for new credit, we recommend at least 6 months of credit history on your existing Navy Federal credit card account.  If you have any further questions, you may contact us any time toll-free at 888-842-6328. "

 - As it says 6months, should I not try for a SP on the next AR in may as I have read about?

I assume, and hope, that with proper usage on this card to have a higher CL before the 6 months is up. Any advice?

Thanks for everything!

[Anonymous]

I got my Cash Rewards in the mail.  I have never done a balance transfer and never done a cash advance.  It's just not my style.  But is it normal for NFCU CCs to not have a cash advance available?  My paperwork says "Cash Limit: $0".  That's on an $18k SL.

[Aduke1122]

Sorry Op on their recon decision, you will get there and it seems to be a new rule with them lately 6mths CLI rule. As far as the cash advance limit no that's not normal it's normally 33 percent of your CL. I would call them

[Anonymous]

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@Anonymous wrote:

I got my Cash Rewards in the mail.  I have never done a balance transfer and never done a cash advance.  It's just not my style.  But is it normal for NFCU CCs to not have a cash advance available?  My paperwork says "Cash Limit: $0".  That's on an $18k SL.

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I do not believe that is the norm. I just applied and was approved, I have not even recieved the card yet.

Available Credit $24,000.00
 
Cash Advance Available $7,200.00

[Anonymous]

I did a 3 month CLI with them from 1k SL to 13k but it was a HP at 96 days after account opening. So if you don't mind a hard pull try again at 3 months but you'd need your scores in the high 600's 651 is on the lower end.

[Anonymous]

Thank's for the tip, my TU Fico 8 is actually 615 - hoping to be 700's by fall. 

Time to hit the garden until then!

[Anonymous]

So I signed into my account on my computer and it says I have nearly $5,300 available for cash advance.  It's the paperwork sent with the card that says "cash limit: $0".

[Anonymous]

Let's see how it works out for us bud.  Both starting with NFCU, you have a higher score, but we both still in.  We can both start building and hope for good things in 90 days. 

[jtw34240]

Yeah it's a bug on the mailer same thing I received on my mailer but my cash limit is 330 on my 1100 card. I tried to get 2nd card but declined by system saying my existing account too new. I was able to increase my cloc to 2000 from 500. But hey I'll take it. Looking forward to hitting luv button soon.