Navy Federal Denial ....

[Wqadir1988]

Yes there is a shift for sure in lending, i do not want to call for this , i am sure the customer service reps will ask me to recon which i dont think will yield anything. 
yes 17 years aaoa comes with AU accounts my cards are 2 years and 2.3 years old. 
i will wait a month and try again.

[OmarGB9]

By chance, does your uncle have the same name as you?

[fatcomic]

---

@Wqadir1988 wrote:

Yes there is a shift for sure in lending, i do not want to call for this , i am sure the customer service reps will ask me to recon which i dont think will yield anything. 
yes 17 years aaoa comes with AU accounts my cards are 2 years and 2.3 years old. 
i will wait a month and try again.

---

I would at least call them, the worse thing they can do is say "no".     At least they may have some clarity on the situation, its frustrating to get an unexpected denial, especially given your DP's.   I would make the call or at least reach out to them in the online messages tab on the top of the screen when you log-in to NFCU.   

My experience with Navy is everyone I have dealt with has been helpful and seems to want to help when and where they can.   

[Wqadir1988]

---

@OmarGB9 wrote:

By chance, does your uncle have the same name as you?

---

No , different name. 

[jmw1]

@Wqadir1988 

Sorry to hear about your denial. But your data points are highly appreciated.  Can you tell is if EWS was pulled too?

I was not planning to make Navy my main financial institution and I don't think I'd be as happy as my current setup.

It will be a bad sign if others start getting the same denial reasons. I've heard this move to dramatically de-emphasize FICO scores and move towards internal scoring and deposit account balances. I hope at least they are using EWS so they can see the balances at other banks.

[Anonymous]

---

@Wqadir1988 wrote:

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. 

---

My opinion is the Navy Fed when I joined in 2017 isn't the same Navy Fed today.  I applied for membership opening up checking/savings account.   After about a week or two applied for a credit card and they gave me 24K right off the bat.  Was so happy I then made Navy my main bank having paycheck sent there.  Then used them for my auto loan.   What I'm reading from you is they are saying we need for you to have a real relationship with us before we will consider approving you.  We want you to have your check coming to us, spend some time with us, use your debit card more often for transactions, etc.  That's what it appears from reading.  They are no longer giving out those big CL like they were 2 plus years ago.  Sure someone here and there may luck up and get one but to the same numbers 2 years ago.

[Anonymous]

If we go by recent data on NFCU (not only on their Flagship card, rather overall credit products) then it does seem obvious that NFCU has definately tightened up their UW as there are more denial now...and lower SL ....and now its 99% rejection rate on reconsideration requests. I guess party is over now....

[Anonymous]

I got my 91/3 bump on my Platinum awhile back and then a monster cashRewards approval. Hit 91/3 on cR last week and asked for the Covid 4K - no soup. I'd agree that they may be tightening some.

[Wqadir1988]

Yes i agree , big shift in lending , seeing posts of mega approvals from before to these current days. 
my EWS should be clean , i never overdrawn any bank account. 
i am asking my father to apply for credit card to see what happens, he has lates 7 of them spreading from 2014 to 2019 on multiple accounts. Has 13 cards , biggest is amex 20k and smallest one is target $500. Mortgage is paid off , no car loans as of now. Credit karma shows 617 score for Tu and Eq both. Utilication is 13%. And he is nfcu member since 2008 but never made them primary bank and never applied for their credit products. (He missed the gravy train ). 
i have a question. What if one applies for and gets 1k limit ,2nd card 2k limit and 3rd card 3k limit , all this over time when eligible.   uses these cards for couple of months and close one of the cards and after a month apply again ? To get higher limit maybe. 

[Mr_Mojo_Risin]

---

@Anonymous wrote:

I got my 91/3 bump on my Platinum awhile back and then a monster cashRewards approval. Hit 91/3 on cR last week and asked for the Covid 4K - no soup. I'd agree that they may be tightening some.

---

I figured you received that CLI on the CR a few weeks back, sorry to hear that. 

I'm eligible on my CR after midnight tonight, little extra nervous now.