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NFCU denied my app for a secured card

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csl1
Contributor

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
☞ Credit Cards: NFCU AmEx, NFCU Visa Signature, PenFed Pathfinder Visa, Truist Enjoy Cash, Discover It, Capital One SavorOne, Citi BB Visa, Paypal MC, PayPal Store Card, CareCredit, Cap1QS1
♛ Total Credit Lines: $52,750
⚖ Chapter 7 Discharge: October 2018
☼ Credit Scores: Mid to High 600s
☮ Gardening As of May 13, 2022

Message 1 of 15
14 REPLIES 14
Anonymous
Not applicable

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.

 

Message 2 of 15
coldfusion
Community Leader
Mega Contributor

Re: NFCU denied my app for a secured card


@Anonymous 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?

(3/2024)
FICO 8 (EX) 846 (TU) 850 (EQ) 850
FICO 9 (EX) 850 (TU) 850 (EQ) 850

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 3 of 15
CreditInspired
Community Leader
Super 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

|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macys $24.2K || NFCU CLOC $15K || NFCU Platinum $15K || CitiCostco $12.7K || Chase FU $12.7K || Apple Card $7K || BOA CashRewards $6K
Message 4 of 15
csl1
Contributor

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.
☞ Credit Cards: NFCU AmEx, NFCU Visa Signature, PenFed Pathfinder Visa, Truist Enjoy Cash, Discover It, Capital One SavorOne, Citi BB Visa, Paypal MC, PayPal Store Card, CareCredit, Cap1QS1
♛ Total Credit Lines: $52,750
⚖ Chapter 7 Discharge: October 2018
☼ Credit Scores: Mid to High 600s
☮ Gardening As of May 13, 2022

Message 5 of 15
sjt
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, Delta Business Reserve, Business Cash, Business Plus
Barclays: Arrival+ WEMC
Capital One: Savor WEMC, Venture X Visa Infinite
Chase: Freedom U Visa Signature, CSR Visa Infinite
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity Visa Signature
Credit Union: Cash Back Visa Signature
FICO 08: Score decrease between 26-41 points after auto payoff (11.01.21) FICO as of 5.23, EX: 812 / EQ: 825 / TU: 815
Message 6 of 15
csl1
Contributor

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.)

☞ Credit Cards: NFCU AmEx, NFCU Visa Signature, PenFed Pathfinder Visa, Truist Enjoy Cash, Discover It, Capital One SavorOne, Citi BB Visa, Paypal MC, PayPal Store Card, CareCredit, Cap1QS1
♛ Total Credit Lines: $52,750
⚖ Chapter 7 Discharge: October 2018
☼ Credit Scores: Mid to High 600s
☮ Gardening As of May 13, 2022

Message 7 of 15
Pikaboo-icu
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
Valdos919
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
csl1
Contributor

Re: NFCU denied my app for a secured card

This is very helpful. Thanks for sharing your experience.
☞ Credit Cards: NFCU AmEx, NFCU Visa Signature, PenFed Pathfinder Visa, Truist Enjoy Cash, Discover It, Capital One SavorOne, Citi BB Visa, Paypal MC, PayPal Store Card, CareCredit, Cap1QS1
♛ Total Credit Lines: $52,750
⚖ Chapter 7 Discharge: October 2018
☼ Credit Scores: Mid to High 600s
☮ Gardening As of May 13, 2022

Message 10 of 15
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