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Navy FCU cashRewards CC denial

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Anonymous
Not applicable

Navy FCU cashRewards CC denial

I got the prequalification but ultimately it was denied.  They pulled my TU report; The Credit Vision link score was 548 but MyFico credit card scores were higher at the time of application.  Just sharing the details here for key factors: 

-Not enough debt management Or property ownership experience (no clue on what this means or how to take it)

-High interest rate loan application 

-Number of alternative credit lenders too high (what?)

-Too many home phone numbers on alternative credit

 

I'll try again later in the year or after I obtain property ownership experience I guess. 

 

 

 

Message 1 of 10
9 REPLIES 9
Girlzilla88
Valued Contributor

Re: Navy FCU cashRewards CC denial

@Anonymous    Very interesting DPs thank you for that 







Message 2 of 10
AllZero
Mega Contributor

Re: Navy FCU cashRewards CC denial

That is unfortunate about your denial. Have you considered the secured nRewards card?
Message 3 of 10
Anonymous
Not applicable

Re: Navy FCU cashRewards CC denial

Yes, the letter said to give em a call if interested in obtaining a secured card.  I'm thinking about going that route. 

Message 4 of 10
AllZero
Mega Contributor

Re: Navy FCU cashRewards CC denial


@Anonymous wrote:

Yes, the letter said to give em a call if interested in obtaining a secured card.  I'm thinking about going that route. 


I think it would be a great opportunity. It may be another hard pull inquiry. The card can graduate to unsecured in ~7 months.

Message 5 of 10
spiritcraft1
Valued Contributor

Re: Navy FCU cashRewards CC denial


@Anonymous wrote:

Yes, the letter said to give em a call if interested in obtaining a secured card.  I'm thinking about going that route. 


That is exactly what you should do.  That will change everything in time with them.  It is the best secured card anywhere.


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No PG Biz Credit in Order of Approval - Uline, Quill, Grainger, SupplyWorks, MSC, Amsterdam, Citi Tractor Supply Rev .8k, NewEgg Net 30 10k, Richelieu 2k, Wurth Supply 2k, Global Ind 2k, Sam's Club Store 11.k, Shell Fleet 19.5k, Citi Exxon 2.5k, Dell Biz Revolving $15k, B&H Photo, $5k

Message 6 of 10
Mr_Mojo_Risin
Senior Contributor

Re: Navy FCU cashRewards CC denial

Sorry to hear about the denial.

I agree with the others regarding the secured card. It could definitely open some massive opportunities.

Many members here have graduated starting around 7 months. 

NFCU More Rewards 28K CL
NFCU Cash Rewards 16K CL
Citi Custom Cash 7.5K CL
AODFCU Visa Sig 5K CL
Discover IT 2.5K CL
Capital One QS 3600 CL
Message 7 of 10
dragontears
Senior Contributor

Re: Navy FCU cashRewards CC denial


@Anonymous wrote:

I got the prequalification but ultimately it was denied.  The Credit Vision link score was 548 but MyFico credit card scores were higher at the time of application.  Just sharing the details here for key factors: 

-Not enough debt management Or property ownership experience (no clue on what this means or how to take it)

-High interest rate loan application 

-Number of alternative credit lenders too high (what?)

-Too many home phone numbers on alternative credit

 

I'll try again later in the year or after I obtain property ownership experience I guess. 

 

 

 


Sorry for your denial 

Rather interesting that all 4 reason codes are non-FICO. I didn't know that they pulled one of the "alternative" credit bureaus, does the letter say which one? 

Message 8 of 10
Anonymous
Not applicable

Re: Navy FCU cashRewards CC denial


@dragontears wrote:

@Anonymous wrote:

I got the prequalification but ultimately it was denied.  The Credit Vision link score was 548 but MyFico credit card scores were higher at the time of application.  Just sharing the details here for key factors: 

-Not enough debt management Or property ownership experience (no clue on what this means or how to take it)

-High interest rate loan application 

-Number of alternative credit lenders too high (what?)

-Too many home phone numbers on alternative credit

 

I'll try again later in the year or after I obtain property ownership experience I guess. 

 

 

 


Sorry for your denial 

Rather interesting that all 4 reason codes are non-FICO. I didn't know that they pulled one of the "alternative" credit bureaus, does the letter say which one? 


My TU includes an inquiry from "CoreLogic" which displays the info pulled by them. It includes "alternative" sources, like payday loans:

 

 

Screenshot_20210309-191337_Drive.jpg

 

Message 9 of 10
M_Smart007
Legendary Contributor

Re: Navy FCU cashRewards CC denial


@Anonymous wrote:

Yes, the letter said to give em a call if interested in obtaining a secured card.  I'm thinking about going that route. 


I would go the secure nRewards route, it is a foot in the door .. and it could unsecure in 7-8 months.

At that time you could also apply for a unsecured card. JMHO

Message 10 of 10
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