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Navy Federal Denial ....

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Wqadir1988
Member

Navy Federal Denial ....

Hi, applied for membership thru my dad who is also a member with just checking and savings which he does not use as main bank, after membership in may i applied for platinum card in early july and got  instant denial.
my TU score is 793, no lates clean report

4 credit cards and 3 AU accounts 

aaoa is 17 years. 
utilization is 1%
income 88k

the wording in denial letter is i dont understand what message nevy is giving me...

---Balance status of navy fed accounts ( i only have savings with $135 in it.)

---Insufficient variety of secured loan accounts

---Length of navy federal membership ( i have read ppl getting approved same day as membership so that rule must be for me )

---Direct deposit status with navy federal ( i dint have DD with navy )

--- utilization of bankcard credit line in last 12 months. ( i always keep utilization between 1 and 10 percent )

So i am like confused with their denial reasoning and confused if i should wait a month or so and apply again. 
thank you so much for insight. 

Message 1 of 28
27 REPLIES 27
SweetCreditObsession
Valued Contributor

Re: Navy Federal Denial ....

I'm sorry for the denial. You may want to check out one of the Navy threads for insights. 



(+102) | (+106) | (+151)
| TU Fico 9: ? | Exp Fico 9: ? | EQ Fico 9: ?| EQ Fico 8 Bankcard: TBA

Initial Goal: Min. 740 w/all CRAs - Met
Interim Goal: 780 w/all CRAs - Met
Current Goal(s): Min. 800 w/all CRAs
Gardening Until: ??/??/202?| Last App: 10/20/2023





Message 2 of 28
Wqadir1988
Member

Re: Navy Federal Denial ....

I did go thru that thread but did not see similar situation as me. 

Message 3 of 28
SweetCreditObsession
Valued Contributor

Re: Navy Federal Denial ....

That is surprising and disappointing. Did you try reaching out to Navy for a recon? If not I'd encourage you to try and let them know you're trying to build a relationship with them. Maybe there is a different card you would qualify for on the same hard pull. All they can do is say no best wishes!



(+102) | (+106) | (+151)
| TU Fico 9: ? | Exp Fico 9: ? | EQ Fico 9: ?| EQ Fico 8 Bankcard: TBA

Initial Goal: Min. 740 w/all CRAs - Met
Interim Goal: 780 w/all CRAs - Met
Current Goal(s): Min. 800 w/all CRAs
Gardening Until: ??/??/202?| Last App: 10/20/2023





Message 4 of 28
gingerflower
Valued Contributor

Re: Navy Federal Denial ....

 

@Wqadir1988  I agree with @SweetCreditObsession  I would do a Recon and ask to apply for a different Cc. Good luck if you do decide to Recon!

Message 5 of 28
Anonymous
Not applicable

Re: Navy Federal Denial ....

How are any loan balances compared to income? DTI is a big factor with Navy - if you have an elevated DTI due to mortgage and/or car loan, that plus your cards may have you close enough to their threshold that they're hesitant to lend.

Message 6 of 28
Wqadir1988
Member

Re: Navy Federal Denial ....

No car loan no mortgage. Just 1 card has $151 balance out of 2k limit. 
my father says my uncle (his brother who became member on his own for his service ) had trouble keeping up with his navy cards last year due to covid and he is still behind on payments maybe , dont know the current situation. 
can navy punish relative members for this? 
perhaps they just dont wanna say it in letter, hence these strange reasons for denial. 

Message 7 of 28
Anonymous
Not applicable

Re: Navy Federal Denial ....

Sometimes the banks just get it wrong as in your case.

Don't let it get to you. It happens to all of us from time to time

Thanks

Mark

Message 8 of 28
Red1Blue
Super Contributor

Re: Navy Federal Denial ....

Sorry to hear about the denial. Hang in there and give some time and I am sure they will come along and approve you.

Message 9 of 28
DONZI
Established Contributor

Re: Navy Federal Denial ....


---Balance status of navy fed accounts ( i only have savings with $135 in it.)

---Insufficient variety of secured loan accounts

---Length of navy federal membership ( i have read ppl getting approved same day as membership so that rule must be for me )

---Direct deposit status with navy federal ( i dint have DD with navy )

--- utilization of bankcard credit line in last 12 months. ( i always keep utilization between 1 and 10 percent )

 Those reasons seem similar to generic 'what can affect your score' lists to me.. However there have been an assortment of recent app/approval/denial/CLI experiences that indicate some shift in NFCU underwriting and some of the reasons do seem like they could be profile specific.

 

Did you become a member and apply for the card in early July/same day? Perhaps that is now YMMV?

 

I can't imagine there would be any bleed over from an uncle's (or any other family member) account... Unless maybe if you're an AU of your uncle?  ..but I know very little of the effect between an AU and original card holder.

 

Is your 4 personal cards significant to your 17 year AAoA or is that solely provided by the 3 AU accounts?

 

Like others have suggested, calling and asking for help understanding the problem is the best next step.

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Message 10 of 28
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