NFCU denied me for unsecured card, now what!!

[rrscott426]

I've been a member with NFCU for 25+ years, although the membership was just reactivated about 14 months ago. I immediately got a secured card for $500 then opened a pledge loan. I'm still a government employee, but I only send a portion of my check to NFCU. I've paid my card on time every month in full, as well as the pledge loan. My credit score is low (632) even with an open bk13. I also have a Capital One Quicksilver card that graduated in just over a year from a platinum secured. I'm at the 13 month point with NFCU and was anxious about my card graduating after all the threads I've read here and with the success I've had with Cap1. To my surprise my NFCU card didn't graduate and when I submitted a request for a Cash Rewards card I was denied...reason being the bk. I thought my long standing relationship with NFCU and my secured payment history would be enough, but it wasn't. I tried a recon and it was denied too. My question is should I try for the Discover IT secured card or should I just wait it out until the bk is discharged?

[MzChrissy]

NFCU is more based off DTI and UTI. If Navy denied you, chances are Discover will as well - navy is less strict. I believe Discover has a prequal website- maybe try that avenue first.

[Anonymous]

Your Ch13 is still active, correct?  I don't believe anyone will approve with an active, open Bankruptcy.  I'm pretty sure that's all across the board.  You'll need to wait until you're discharged before you'll be able to get any kind of credit card approvals.  Plus, Bankruptcy courts have a stipulation that you cannot open any type of new credit account while the Bankruptcy is active unless you receive prior approval from the court.

[rrscott426]

I got approval from the court. My BK was filed in Feb 2016, since then I've open 2 credit cards, a secured one with NFCU and a Cap1 Quicksilver which graduated from a platinum secured. I also got a Cap1 auto loan 2 weeks ago...again, with approval from the court. It's cool, I'll just hang tight. I was just shocked after things were so easy with Cap1, yet a institution that I've done business with for much longer denied me.

[tricie17]

Obviously with NFCU relationship does not matter.  Put your money where it is serviceable to you.  I have the Discover secured and so far they have been reasonable and giving second chance since being discharged.  I like NFCU however,  I believe placing my money where I will benefit as well.  Nobody likes bankruptcy but sometimes there is no choice.