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Navy Federal decision for 2nd card on same day

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Navy Federal decision for 2nd card on same day

I was approved for an Navy Federal Amex. I also tried to apply for The platinum Visa in order to take advantage of the 0% interest onbalance transfer for 12 months offer. Instant decline with the following message.

Thank you for your credit card application. Upon review, the Credit Card Lending Team was unable to approve your recent credit card request due to your existing Navy Federal credit card account is too new. If you have any questions, please contact us anytime at 888-842-6328.

Does this mean that I will be approved in the future?

Update Navy Federal response to my question regarding how long is a account is considered new.

Thank you for using Navy Federal's Messaging Service, Mr. Your More Rewards American Express account opened on 12/19/2018. We like to see at least three months (91 days) of on-time payments on an existing Navy Federal credit card account before approving a new credit card. If you have any questions, please let us know.

Starting Score: Eq 485 TU 467 Ex 400 BK filed Dec 2016
Current Score: Eq 672 TU 649 Ex 644
Goal Score: 700 All 3


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15 REPLIES 15
Super Contributor

Re: Navy Federal decision for 2nd card on same day

Seems to be a generic message that says “too new, slow down.”

 

Try at 91 days and 3 statements. 



01/2019:
10/2019:

Hover over my cards to see my limits!
Goal cards: Cash+, Freedom.
Message 2 of 16
Frequent Contributor

Re: Navy Federal decision for 2nd card on same day

Thanks

Starting Score: Eq 485 TU 467 Ex 400 BK filed Dec 2016
Current Score: Eq 672 TU 649 Ex 644
Goal Score: 700 All 3


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Message 3 of 16
Valued Contributor

Re: Navy Federal decision for 2nd card on same day

Sorry about the denial.

 

The $500 SL is a foot in the door and they will test you with it.

I would not recommend apping for a second card at 91/3. In fact, I would use that card, pay in full for 6 months, then request a cli and/or second card. Also work on your uti if you can. I believe you posted it was at 68% right? 

When Navy starts you out with these small limits they want to see how you do before providing anymore credit.

I only got a $4000. SL the first time and waited almost 6 months to ask for a cli, which I received and app'd for second card, SL $25,000.

 

Take a little more time with NFCU, use what they gave you wisely. I promise the extra time will be worth it. 

 

Congrats on your Amex approval- it will grow.. 

 

smiley-taking-christmas-tree-emoticon.gif




Message 4 of 16
Moderator

Re: Navy Federal decision for 2nd card on same day


@kaylord84 wrote:
I was approved for an Navy Federal Amex. I also tried to apply for The platinum Visa in order to take advantage of the 0% interest onbalance transfer for 12 months offer. Instant decline with the following message.

Thank you for your credit card application. Upon review, the Credit Card Lending Team was unable to approve your recent credit card request due to your existing Navy Federal credit card account is too new. If you have any questions, please contact us anytime at 888-842-6328.

Does this mean that I will be approved in the future?


Yep, give it a few months and you'll be golden.

 

For more info, check the big NFCU thread:  https://ficoforums.myfico.com/t5/Credit-Card-Applications/Navy-Federal-Thread-for-CLI-and-Additional...

 

(You don't have to read the entire thing... just skip to the last two or three pages or so.)  Smiley Wink

Message 5 of 16
Frequent Contributor

Re: Navy Federal decision for 2nd card on same day

Update Navy Federal response to my question regarding how long is a account is considered new.

Thank you for using Navy Federal's Messaging Service, Mr. Your More Rewards American Express account opened on 12/19/2018. We like to see at least three months (91 days) of on-time payments on an existing Navy Federal credit card account before approving a new credit card. If you have any questions, please let us know.

Starting Score: Eq 485 TU 467 Ex 400 BK filed Dec 2016
Current Score: Eq 672 TU 649 Ex 644
Goal Score: 700 All 3


Take the myFICO Fitness Challenge
Message 6 of 16
Valued Contributor

Re: Navy Federal decision for 2nd card on same day


@kaylord84 wrote:
Update Navy Federal response to my question regarding how long is a account is considered new.

Thank you for using Navy Federal's Messaging Service, Mr. Your More Rewards American Express account opened on 12/19/2018. We like to see at least three months (91 days) of on-time payments on an existing Navy Federal credit card account before approving a new credit card. If you have any questions, please let us know.

Thank you.

Yes, this is a well known DP and is prevalent in the huge NFCU thread referenced above.

 

What I was trying to explain is: with a higher SL you have a decent chance of a second card approval with a very good SL at 91/3, however, with a small limit like $500. it's a just getting in the door message.

Recently the low SL cards like that have had less than stellar success with clis & second card SL.

 

Waiting 5-6 months, with a low end SL has resulted in better clis and SL for second cards.

You can app at 91/3, nobody is saying you can't but the second card, if approved, may have a lower SL than if you waited an additional couple of months.

 

The choice will be yours as always..

Best of luck.

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Message 7 of 16
Frequent Contributor

Re: Navy Federal decision for 2nd card on same day

Im applying for a mortgage in March so yeah I would have to wait until 5-6 months anyways thanks

Starting Score: Eq 485 TU 467 Ex 400 BK filed Dec 2016
Current Score: Eq 672 TU 649 Ex 644
Goal Score: 700 All 3


Take the myFICO Fitness Challenge
Message 8 of 16
Frequent Contributor

Re: Navy Federal decision for 2nd card on same day

Sorry, kind of a necro here.  Came across this while searching for something else.

If you FILED for BK 12/16, DO NOT apply for another card or even CLI until you're 25+ months POST discharge.  The max they'll approve you for with a CC during this time is $1000 (some exceptions, I believe).  There are quite a few posts from someone who used to work there stating this is their policy.  Think you might be able to get a CLOC before hand, though.  But don't quote me on that one!

 

Not trying to disagree with Pikaboo-icu.  That advice is solid if you aren't fresh outta BK and have a pretty clean report.  Situation you're in though, that won't work for you.  Smiley Sad

But, take it from me.  I couldn't get anything going in the same boat.  Wasted inquiry after inquiry.  Even tried at 24 months because I thought that's what one of those posts stated, but nope!  After 25+ months, approved for a $15K SL + $1K increase on my $500 first card.  Only risked it just because I was determined to see if the information was correct and because PF approved me at that 24 month mark when they wouldn't touch me before.

BK7 Discharged 12/16


EQ8/9: 674/725 | TU8: 683 | EX8: 735
Message 9 of 16
Frequent Contributor

Re: Navy Federal decision for 2nd card on same day

Thanks I really appreciate the info. My 91 days is March 20th. At that time I will actually be 25 months post discharge as well.

Starting Score: Eq 485 TU 467 Ex 400 BK filed Dec 2016
Current Score: Eq 672 TU 649 Ex 644
Goal Score: 700 All 3


Take the myFICO Fitness Challenge
Message 10 of 16
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