Are you sure you waited at least 91 days and at least 3 FULL statements (at least 25 days in a billing cycle)?
Otherwise if your answer to the above is yes, then the only reason I can think of is DTI. They're very sensitive about that.
@CreditInspired wrote:
@Anonymous wrote:Hey y'all it's me again.
I applied for the Navy Federal Platinum and was denied instantly. I found it unfortunate seeing other with lower scores and higher utlization but hey that's the credit game we live in. I've been with Navy for a while and currently have 2 cards with them. My DP's are
TU09 - 703
Utilization - 15%
Inq - 9
60k annually
I did just come off of my 91/3 with the More Rewards card asked for a CLI which is still pending but I waited a few more day just to be sure. Did I pull the trigger too early. Where did I go wrong?
Can you breakdown the 9 inqs for 3/6/9/12 months? If they're recent, that could be a problem.
I don't think Navy is that inquiry sensitive. I believe it's most likely due to DTI or not waiting the full 91 days/3 full statements.
@Anonymous wrote:I'm thinking DTI also. Have to remember to include all income you have access to and not just your employment. If someone else pays half your rent/mortgage, factor that into your stated income. As an example, my 18 yr old son lives with me and just started working full time; I factor his pay into my reported income. If you have anything like that that you can add, send that recon message and tell them.
I'm not sure how you'd justify that to a lender. If you get hit with an FR or 4506-t that income won't be listed and likely result in AA.
On a similar note, I don't think if someone contributes towards your rent, that portion should be added to income for the same reasons. It should be deducted from the debt side of things.
Feel free to correct me if I'm wrong.
OP:
So sorry for the denial! I think @OmarGB9 hit the nail on the head.