Navy Federal Denial both CR and CLOC UPDATE: CLOC APPROVED!

[Anonymous]

So I recently joined Navy Federal. I was super stoked because I've really been wanting to be a member of this credit union for a long time. I applied for the cash rewards the first day instant denial. I reconed also denied. So I read that many were denied for CR but approved for the CLOC, that too was denied. Does anyone know which fico score they go off of? They pulled my TU report. My Fico 8 score is 653 TU, Fico 9 Bankcard is 622, Bankcard score 8 is 640. I have about 21% utilization, 18 inquiries due to car finance and recent apps. Most are 6+ months old. I know I need to let my account age but I have seen others getting cards with stats lower than mine and higher negative marks. Also does anyone have any advice to give. I honestly dont mind waiting and bringing my score up a bit but pulled the trigger a little fast because I read others with similar profiles were getting approved.

So when I originally applied I apped for the full $15,000 thinking they may counter. Instead I was denied. I got the letter but just assumed it was for the same reasons as the cc denial so I didn't read it. Decided yesterday to pick that letter back up and read it. Original denial was because the amount was too high. Reconned and they told me to reapply by phone. Lowered the amount to $4000 not wanting to push my luck and was APPROVED!!!! Now I hope to never need it but I am so happy to have my foot in the door with Navy!

Update

[AverageJoesCredit]

Yeah, Navy can be a headscratcher on the approvals and limits they give to some with low scores and baddies but as you can attest, not everyone can fit that mold. Best advise I can give is just give it time. Work on your profile, score, and any begs in your report. Once they give to you, the rest will take off. Best of luck🙂

[Anonymous]

There are several data points with people with 585 ish getting 3000 to 4000+. I'm concerned now just joined and applying for same card next week similar scores. I wonder if the reason for denial was too many inquiries/possible too many new accounts. Usually credit cards for them TU and CLI are EQ

[FinStar]

What reasons were cited on the denial letters for the CLOC and Cash Rewards?   The consensus would likely be to work on the reasons they provide to improve your overall chances for approval down the road.

[Anonymous]

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@FinStar wrote:

What reasons were cited on the denial letters for the CLOC and Cash Rewards?   The consensus would likely be to work on the reasons they provide to improve your overall chances for approval down the road.

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That's the thing they didn't really site any reasons. That is why I am confused. Here is what they said to my recon request " In this instance, our established lending criteria was not met due to information reporting on your credit file." No other information was given. That is a very vague reason.

[Anonymous]

Guess you’ll have to wait for the letter and then update.

[risingup2day]

I’m not sure either, but NFCU can be “odd” at times.

Based off your siggy , you have a ton of store cards with two being network card. Too boot, One is Credit one!😱. Pile that on top of your recent app spree of cards, NFCU is probably looking at your file like 🤔... “ Mesa not liking what’s Mesa see, Maybe in a few months... Yes, a few months, maybe”

Are you undergoing a rebuild? Any baddies on your report? Again, not passing judgment here, just a simple observation.

Like a few other members stated. Sit back, grab a tall, tasty, cold glass of Ice Tea, beers are in the cooler, if you like and tend to your garden for a few months. Try your hand later. I know it’s hard, I completely feel the urges!!! I have two cards that I WANT, (Golden 1 Platinum rewards and penfed 2%CB) I should say, would like to add, but like beef, a rib eye with some age, will make it worth the wait!🤣!

Good luck with your apps in the future!

[Anonymous]

Yes, I do have many store cards. My plan is to for sure close credit one! I honestly am not rebuilding as I am more starting out. Just recently started getting credit. So I am new even though I am no spring chicken. In the garden I shall wait. I am in no hurry. I think I'll be closing one or two of my other store cards as well. But time as you say will tell. Thanks so much for the reply and no ill feelings at all from your comment. Everything is appreciated.

[Anonymous]

I think TU still counts store card utilization different that revolving utilization. Wonder if that may have played a part? 

[Anonymous]

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@Anonymous wrote:

I think TU still counts store card utilization different that revolving utilization. Wonder if that may have played a part? 

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My highest utilization is 33% on one store card. Do you think that is hurting me?