So I messed up. I applied for a credit limit increase on day 95/3 for my More Rewards card and they granted me an $8000 increase. So yesterday on day 97/3 I decided to apply for the Cash Rewards card and got instantly denied.
Now full disclosure I didn't have any offers when I checked the prequalify tool but after reading of some others on here in this same position get new card approvals I didn't think it would matter. After all I keep hearing more and more about how relationships with NFCU matter more than the actual scores do.
I was shocked! As of February 2nd when I got my More Rewards card my Navy Federal internal score was 352. All my Fico scores have gone up even more since getting my More Rewards, my total utilization technically is 0% but due to the pandemic the bureaus haven’t updated my accounts yet so it shows 6% right now. Also my More Rewards card gets paid to $0 before the closing date each month. Seemed like to me at least I should’ve been instantly approved.
They said they’d send me a letter in 7-10 business days to explain the denial. I sent them a message on the app to try to do a reconsideration and to find out more info as I’m eager to find out why I got denied. Probably will be a few days before I hear anything with it being the weekend and with the pandemic going on.
They could just be being tighter on security and maybe wanting documents from you!? Hard to say 0-6% isn't a big Whopper so I doubt that is the reason?! But keep us posted what they say or even with the Recon. I have seen some people have Recon success. You didn't open a lot of cards or anything during the past few months did you?
You probably hit the max limit they are willing to give you with that CLI. That's why it's recommended to app for the card first before the CLI.
Your shock and wasted HP for the app is the reason I think people need to stop acting like a 2nd card with huge limit is basically guaranteed. Each person's profile is different. Some in similar situations as you have waited 3 months to apply again and got an instant approval for 5 digits. Others, like myself, haven't received a 2nd product in 2 years.
If you're ok taking HPs, apply again in a few months. If not, treat it like an app from any other lender and wait longer.
@Girlzilla88 wrote:They could just be being tighter on security and maybe wanting documents from you!? Hard to say 0-6% isn't a big Whopper so I doubt that is the reason?! But keep us posted what they say or even with the Recon. I have seen some people have Recon success. You didn't open a lot of cards or anything during the past few months did you?
If they possibly needed docs, it would have went to 24 hour review.
@Girlzilla88 wrote:They could just be being tighter on security and maybe wanting documents from you!? Hard to say 0-6% isn't a big Whopper so I doubt that is the reason?! But keep us posted what they say or even with the Recon. I have seen some people have Recon success. You didn't open a lot of cards or anything during the past few months did you?
Will update as soon as possible! I have opened a lot of cards recently. I got my WF Propel in December 2019, became an AA on a card that month also on a card. Then in February 2020 I got the More Rewards and the Chase Unlimited and became an AA on my wife's card. Lastly in April I got the Amex BCP. So 3 new card approvals and 2 adds as authorized user between December and April.
@Jannelo wrote:Well, on another note, congratulations on that huge $8,000 CLI!
Thank you so much! I appreciate it! Definitely brought a big smile to my face last week! 😄
@Anonymous wrote:Congrats on the monster increase! I'm curious to see what Navy has to see regarding your denial for the second card. Thanks for providing as much detail as you have thus far.
Thank you so much! Also you're welcome! Hopefully I'll have an update soon now that the weekend is over.
Give it more time, you'll get the 2nd card.
I'd say atleast six months to a year.
Maybe once this Covid calms down. Things will open up for you.
Navy isn't known for being adverse to new accounts. Not from what I've seen or experienced over several years.
If you apply for credit enough, at some point you will be denied.
It happens!
Keep building on your current card with them.
Oh, and stop paying before the statement cuts! lol
If you want to build credit history.
You need to show credit history!
Its not possible to do that with most lenders if you don't allow your bills to report.
How will another lender know your payment patterns, if they can't see them? Just something to think about.
Congratulations on the CLI!😃
