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Navy Federal Thread for CLI and Additional Cards

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Regular Contributor

Re: 2nd card denied. CLI on 1st card approved...


@TruSaintsFan wrote:
@Vu
Sorry to hear about the decline!
What does not meet lending criteria mean?

I really don't know.  I was thinking of sending a recon from the website but decided to wait until the rejection letter comes to see what would be the reason.  

Usually, most people would have no problem getting the 2nd card approved and small CLI on the first card for about ~$3k based on my reading.  I got a really decent CLI but denied on the 2nd card Smiley Sad 



Message 10831 of 11,051
Regular Contributor

Re: 2nd card denied. CLI on 1st card approved...


@AllZero wrote:
Vu, which card did you go for? Was it Flagship?

It was the Platinum Smiley Happy



Message 10832 of 11,051
Valued Contributor

Re: 2nd card denied. CLI on 1st card approved...

^ hmmm. One would think it would be the easier card to get compared to Flagship. Plus, they gave you a CLI.
Message 10833 of 11,051
Established Contributor

Re: 2nd card denied. CLI on 1st card approved...


@Vu wrote:

My 91 days were up on 10/15.  Applied for a 2nd card today, instant denial for "not meeting lending criteria".  Hit the CLI on the existing card, approved for $8K CLI to total $28K.

 

What a bummer.  I just closed my home yesterday and would love to have another high CL card to smooth out the utilization % in upcoming weeks due to making some big purchases for the home.


@Vu , Congrats on that awesome CLI ! You blew right over the 25k limit. Sorry about the denial on the 2nd. Did you take advantage of the prequal tool ?

 

I think the obvious difference between you and many others is that you started with a large SL. From what I've read most (myself included) seem to start with a training wheels card 1-5k, then are upgraded to a larger limit on the 2nd card. Wonder if you may have better luck at the 6 month mark? They've been touting that number lately.

 

 

BBVA CP. Cap One: QS, SavorOne, VentureOne, Walmart. Discover chrome. DSNB: Bloomies Amex, Macy's Amex. Misc: Overstock, Target. NFCU cR. Sync: Amazon, eBay MC, Lowe's, PP MC, PPC. WF Propel Amex.

Scores: 700s, Util: 3-5%, Inq: TU 7, EX 7, EQ ?. TCL: 130k. Goal: 200-300k.

Prune 91/3 or 180/6 (until NFCU says, YES, you have offers!) : Grab NFCU MR, close PPC & possibly Target; then cultivate my little garden and watch it grow!
Message 10834 of 11,051
Regular Contributor

Re: 2nd card denied. CLI on 1st card approved...


@ocheosa
Thank you.  I was surprise at the $8K CLI after the denial of the 2nd card.  I'll let you all know what the reason for denial once I received the letter.



Message 10835 of 11,051
Community Leader
Super Contributor

Re: 2nd card denied. CLI on 1st card approved...


@Vu wrote:

@TruSaintsFan wrote:
@Vu
Sorry to hear about the decline!
What does not meet lending criteria mean?

I really don't know.  I was thinking of sending a recon from the website but decided to wait until the rejection letter comes to see what would be the reason.  

Usually, most people would have no problem getting the 2nd card approved and small CLI on the first card for about ~$3k based on my reading.  I got a really decent CLI but denied on the 2nd card Smiley Sad 


@Vu   Congrats on the CLI  That is a nice one.     Not sure but it could have been that the CLI took all the available internal imit with Navy that you have so that the new card could not be given with no limit.    IME, it's usually the other way around, huge new card, but no CLI.    

 

Also IME, having a dirty profile when i got in with Navy, it took 6 months to get a CLI.  Not sure if you do, or have a clean profile, but that would be a good start as to why they said you didnt meet lending critieria.  Little bit of time, and your internal limit to build up and you'll be able to get another one easy. 






Message 10836 of 11,051
Community Leader
Super Contributor

Re: Navy Federal 2nd card question.


@AverageJoesCredit wrote:
@bruisedcredit, nothing exists on site. Supposedly by calling in you can ask for it though it seems its hit or miss with CSRs.

In regards to no baddies on report other than bk7, thats as big a baddie as you can have, so i would temper expectations early on.

I respectfully disagree @AverageJoesCredit   Having a CO is so much worse as it doesnt go away after DC, so it hangs around longer ruining you until it falls off..   Sorry, i'll hop down off my soapbox now Smiley Very Happy

 

Beyond that, I do agree that starting with a dirty profile (which i did) can mean that it will take you longer to get CLI's and higher limits.   Altho, In most cases it's about 6 months.   Not that long compared to other lenders or in the overall credit marathon process. 






Message 10837 of 11,051
Super Contributor

Re: Navy Federal 2nd card question.


@Jago22 wrote:

@AverageJoesCredit wrote:
@bruisedcredit, nothing exists on site. Supposedly by calling in you can ask for it though it seems its hit or miss with CSRs.

In regards to no baddies on report other than bk7, thats as big a baddie as you can have, so i would temper expectations early on.

I respectfully disagree @AverageJoesCredit   Having a CO is so much worse as it doesnt go away after DC, so it hangs around longer ruining you until it falls off..   Sorry, i'll hop down off my soapbox now Smiley Very Happy

 

Beyond that, I do agree that starting with a dirty profile (which i did) can mean that it will take you longer to get CLI's and higher limits.   Altho, In most cases it's about 6 months.   Not that long compared to other lenders or in the overall credit marathon process. 


BK is the single most damaging thing you can do to your credit and even though the score rebounds, the stigma follows you for 10 years. A charge off says "hey this guy made a mistake but we can see he has done good since," while a BK on file says "this guy screwed up bad and he's screwed lenders before, we gotta watch him."



01/2019:
10/2019:

Hover over my cards to see my limits!
Goal cards: Cash+, Freedom.
Message 10838 of 11,051
Regular Contributor

Re: Navy Federal 2nd card question.


@Saeren wrote:

@Jago22 wrote:

@AverageJoesCredit wrote:
@bruisedcredit, nothing exists on site. Supposedly by calling in you can ask for it though it seems its hit or miss with CSRs.

In regards to no baddies on report other than bk7, thats as big a baddie as you can have, so i would temper expectations early on.

I respectfully disagree @AverageJoesCredit   Having a CO is so much worse as it doesnt go away after DC, so it hangs around longer ruining you until it falls off..   Sorry, i'll hop down off my soapbox now Smiley Very Happy

 

Beyond that, I do agree that starting with a dirty profile (which i did) can mean that it will take you longer to get CLI's and higher limits.   Altho, In most cases it's about 6 months.   Not that long compared to other lenders or in the overall credit marathon process. 


BK is the single most damaging thing you can do to your credit and even though the score rebounds, the stigma follows you for 10 years. A charge off says "hey this guy made a mistake but we can see he has done good since," while a BK on file says "this guy screwed up bad and he's screwed lenders before, we gotta watch him."


I would assume a BK would be more damaging than a charge off but for some reason i see people with BK in their profile, their credit score recover faster than someone with CO.






NFCU Flagship Rewards: $15000
NFCU Cash Rewards: $20000
Discover It: $2000
My Jewelers Club: $5000
NFCU Auto Loan: $14300
NFCU line of credit: $500
Total TLs: $42500
Message 10839 of 11,051
Regular Contributor

Re: 2nd card denied. CLI on 1st card approved...


@Jago22 wrote:

@Vu wrote:

@TruSaintsFan wrote:
@Vu
Sorry to hear about the decline!
What does not meet lending criteria mean?

I really don't know.  I was thinking of sending a recon from the website but decided to wait until the rejection letter comes to see what would be the reason.  

Usually, most people would have no problem getting the 2nd card approved and small CLI on the first card for about ~$3k based on my reading.  I got a really decent CLI but denied on the 2nd card Smiley Sad 


@Vu   Congrats on the CLI  That is a nice one.     Not sure but it could have been that the CLI took all the available internal imit with Navy that you have so that the new card could not be given with no limit.    IME, it's usually the other way around, huge new card, but no CLI.    

 

Also IME, having a dirty profile when i got in with Navy, it took 6 months to get a CLI.  Not sure if you do, or have a clean profile, but that would be a good start as to why they said you didnt meet lending critieria.  Little bit of time, and your internal limit to build up and you'll be able to get another one easy. 


Thank you.  And actually, I request the CLI after the denial of the 2nd card Smiley Happy



Message 10840 of 11,051
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