cancel
Showing results for 
Search instead for 
Did you mean: 

NFCU denied my app for a secured card

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Highlighted
Valued Member

NFCU denied my app for a secured card

I've been approved for 3 cards this month and had hoped that nfcu's secured card would be number four. Unfortunately, it wasn't meant to be. I'll try again after establishing 6 months of great history with my three new accounts. Wish me luck!

TU: 553
Ex: 620's
Income: $56k
Bk7: dc 10/29/18; didn't burn nfcu


Message 1 of 15
14 REPLIES 14
Established Contributor

Re: NFCU denied my app for a secured card

Wait a few months, let your existing accounts grow and your score to go up, then you can get a non secured NFCU card.

 

TCL: $4,000. $500 in wallet, remainder locked away to limit spending.

FICO October 2018: EX 792 (10/11), TU 816 (10/19)
FICO November 2018: EX 792 (11/10) 779 (11/22), TU 805 (11/19)
FICO December 2018: EX 795 (12/20), TU 816 (12/19)
Message 2 of 15
Senior Contributor

Re: NFCU denied my app for a secured card


@LowLimits wrote:

Wait a few months, let your existing accounts grow and your score to go up, then you can get a non secured NFCU card.

 


OP is 2 months post-BK discharge.  Doesn't NFCU have a 12 month post-discharge requirement for non-secured cards?

(8/2019)
FICO 8 (EX) 793 (TU) 808 (EQ) 794
FICO 9 (EX) 822 (TU) 827 (EQ) 844

$800K+ club
Message 3 of 15
Community Leader
Senior Contributor

Re: NFCU denied my app for a secured card

OP

Treat the denial as a caution. Since your BK was just discharged late Oct, and you’ve recently been approved for 3 CCs, IMHO, I think you should garden for 12 months.

You have 3 cards for maximum scoring so now is a good time to let your cards age, make on-time payments, and keep UT low so creditors can see that you have learned from past mistakes.

Also, keep in mind that creating a great credit profile is a marathon, not a sprint.

GL2U
GOALS: Garden til APR 2020 and 800 Club


SEP 2019: EX 791, TU 797, EQ 800
JUN 2019: EX 788, TU 794, EQ 779
DEC 2018: EX 777, TU 783, EQ 799

|| AmX Cash Magnet $25K || NFCU CashRewards $20K || Macy's $20K || Discover IT $18.7K || NFCU CLOC $15K || NFCU Platinum $12.5K || AmX ED $11.5K || CitiCostco $7K || CitiDC $6.3K ||
Message 4 of 15
Valued Member

Re: NFCU denied my app for a secured card

Thank you; after further consideration this morning, I came to the same conclusion. Looking forward to watching my scores grow.


Message 5 of 15
Senior Contributor

Re: NFCU denied my app for a secured card

What was the reason for the NFCU denial?

 

 

American Express: Platinum Charge, Optima, Business Gold
Barclays: Arrival+ WEMC
Capital One: Savor WMC, Venture VS
Chase: Freedom U VS, CSR VI
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity VS
Credit Union: Rewards Visa
FICO 08: (9.3.19) EX: 824 / EQ: 834 / TU: 832
Message 6 of 15
Valued Member

Re: NFCU denied my app for a secured card

Not sure yet. I called to ask but the CS rep was unable to determine the reason. I'm looking forward to receiving their denial letter so that I'll know what to do in preparation for reapplying in the future. (I do suspect that it had to do with a tax lien that was showing on my credit until recently, but again, I won't know until the letter arrives in a week or two.)



Message 7 of 15
Valued Contributor

Re: NFCU denied my app for a secured card

My guess is the BK.

It's only 2 months old and IIRC NFCU wants about a year after BK before they will approve..

 

Sorry.. But heck, it's something to look forward to in the future.. 




Message 8 of 15
Member

Re: NFCU denied my app for a secured card

I applied for a non secured card with NFCU about 6 months post discharge and was denied. Reason, needed to be 1 year post discharge. Applied, at 1 year and was approved for $1000.00, I applied for a second unsecured card last week and was denied due to bankruptcy. I am at 1 year and 10 months post discharge. Was told in a secure message with NFCU that I need to be 24 months post discharge for a second unsecured card and also a CLI. Dont know if this is true for everyone but this is what I was told.

Message 9 of 15
Valued Member

Re: NFCU denied my app for a secured card

This is very helpful. Thanks for sharing your experience.


Message 10 of 15
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.