Navy Federal

[bourgogne]

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@fedxboy wrote:

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@bourgogne wrote:

sorry, does your sig say you have $400k+ in credit?  and you are using a secure card from nfcu? 

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You are correct!     Hey Chuck, we have a winner here!!!.....    So what....I desire to get in with NFCU....  The secured card establishes a relationship with them.    

Thanks for your advice, rather than criticism......oh wait....

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I was asking questions before offering my thoughts.  good luck.

[Anonymous]

I don't think he was criticizing you.  I think he was just verifying that your sig was right, before he said something similar to what I'm about to say.  It is a bit surprising that you have $400k in TCL and scores in the low/mid 700's and haven't been able to get an approval from NFCU.  When you said you've been unsuccessful twice in the past, what did the letter give you for reasons?  What did you apply for?   

[Anonymous]

Fedxboy, I think Midwestcoast was right.  The other fellow was just asking a question.  The criticism wasnt going to be until you answered him.  

For what it's worth, along with someone else, I want to say I got that same exact email today.  I forwarded it my mother who is working on paying her balance down after getting everything consolidated on a zero% interest card.  I told her to be on the lookout for such emails in the future, once the end of her zero% draws nigh.

I dont want to be negative, but it's now apparent it IS straight marketing.  That said, now that you have made a sound decision to build a relationship with such a great creditor, there is a chance you would currently be accepted.  But at less than 2 months, if it were ME, I'd wait a bit if youre concerned about wasting a hard pull(I know some on here proudly say they are not concerned about such).   Others might disagree.

WAIT.  I just looked at your sig.  Regardless if those were FICO 8s or not, they are NICE looking scores.  Add to that the 400k in credit you already have, and I dont get why they denied you twice.  When you say twice, how long ago was it?  The 400k, is it all unsecured?  The AAofA looks decent...did you have a ton of new apps under 6 months when you applied?  Although to my recollection, I dont seem to remember NFCU being as sensitive to that as some others.  Based on what youve said, this is a bit confusing to me.  NFCU approves people with far lower scores, no credit, BKs, etc.

I guess my first question for you before those others would be what were the reasons listed on your denial letter.  Gun to head, I'd go with "no go" for now, until I hear back about some of those questions.  Others with more NFCU experience are around, maybe they will have more to add as well.  

[fedxboy]

I understand, my bad.....i flew off the handle.......I wanted to go back and delete my whole post.....but it is what it is.....my apologies to anyone.    Thanks for your last very detailed post, whoever you are.... 

Yes....it's all unsecured......I don't have limits like 25k that NFCU gives out.....otherwise, I COULD close 5 cards out in exchange for one of those 25k cards

Ironically, my highest limit card is the CapOne Quicksilver - from a combonation of the venture and quicksilver made 20k...then 2nd highest is Avianca @ 17,200 and then downward..... Yes, I have way too many cards -- I rather have higher limits and less cards, than what I do have -- around 60+cards

I did throw them an app...and it's in review

thanks all.....

[Anonymous]

So, what were the reasons listed in your previous denial letters?  What cards did you apply for with them in the past, and how long ago?  If you don't mind, what general income level are you sitting at?  We're all trying to provide advice, but without these details that advice isn't worth as much. 

[fedxboy]

It's fine.....it's all good......i need to slow my roll......I have maybe 14 inq's max on any report....I certainly wouldn't qualify for Chase's new rule of 5/24...even though I already have 4 chase cards.....

We here at MYfico, obviously, catch wind of the TRains of new cards...and we all jump on them.....More than half the cards I have, I'm sure I wouldn't have applied for, if not for MYficoers....like Avianaca, BBVA NBA, BLISPAY, ...and thank goodness for the Amex Backdating.....that's what really increased my overall credit length TO 1988 aka 30 years

I've learned so much, since subscribing with myfico since 2012........I've always desired NFCU and PENFED.......oh yeah, I even got into USAA back in 2012, but I have 3 cards with them @12k a piece

and Yes, with Navy, i did open a 1500 secured card, like 2months....and I need to give it a good 6 months or longer.....

I've never freezed my reports before, and that sounds like a good idea

Penfed, they say is more conservative than NFCU....and they had no problem giving me a 10k sl @ 14.74, but NFCU is blocking me...per se......and that makes you even more desire one of theirs..lol

[Anonymous]

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@fedxboy wrote:

I understand, my bad.....i flew off the handle.......I wanted to go back and delete my whole post.....but it is what it is.....my apologies to anyone.    Thanks for your last very detailed post, whoever you are.... 

Yes....it's all unsecured......I don't have limits like 25k that NFCU gives out.....otherwise, I COULD close 5 cards out in exchange for one of those 25k cards

@Ironically, my highest limit card is the CapOne Quicksilver - from a combonation of the venture and quicksilver made 20k...then 2nd highest is Avianca @ 17,200 and then downward..... Yes, I have way too many cards -- I rather have higher limits and less cards, than what I do have -- around 60+cards

I did throw them an app...and it's in review

thanks all.....

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I was in a similar situation as fedxboy. I joined NFCU last year. Scores in the 700's no baddies lot's of new accounts. Thought I would be approved for a nice SL. But took me 3 tries to open a card with them. They didn't like the $18,000 I was carrying spread across 5 cards. Even though I was below 10% util. I recently paid down 10 grand in cc debt. Decided to app again and was approved for $28,000 SL. Had to jump through a few hoops and prove income and assests. In my case NFCU was a tough nut to crack!

Good luck with the app fedxboy. It will happen when NFCU is ready.

[fedxboy]

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@Anonymous wrote:

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@fedxboy wrote:

I understand, my bad.....i flew off the handle.......I wanted to go back and delete my whole post.....but it is what it is.....my apologies to anyone.    Thanks for your last very detailed post, whoever you are.... 

Yes....it's all unsecured......I don't have limits like 25k that NFCU gives out.....otherwise, I COULD close 5 cards out in exchange for one of those 25k cards

@Ironically, my highest limit card is the CapOne Quicksilver - from a combonation of the venture and quicksilver made 20k...then 2nd highest is Avianca @ 17,200 and then downward..... Yes, I have way too many cards -- I rather have higher limits and less cards, than what I do have -- around 60+cards

I did throw them an app...and it's in review

thanks all.....

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I was in a similar situation as fedxboy. I joined NFCU last year. Scores in the 700's no baddies lot's of new accounts. Thought I would be approved for a nice SL. But took me 3 tries to open a card with them. They didn't like the $18,000 I was carrying spread across 5 cards. Even though I was below 10% util. I recently paid down 10 grand in cc debt. Decided to app again and was approved for $28,000 SL. Had to jump through a few hoops and prove income and assests. In my case NFCU was a tough nut to crack!

Good luck with the app fedxboy. It will happen when NFCU is ready.

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Exactly, I thought like you did.......with my scores, no baddies, etc.....I was a shoe in for 1 of those high limit cards they dish out, even for people with lower credit scores.....but....obviously....i was wrong......  and now with that pre-selected offer, it's like i'm getting closer to my goal.....but it's a tease..lol....who knows......thanks all...have a great day and weekend

yes and even though I may be at 5% utilization...that's still a lot on 400k+ limits.....it's all on 0% BT's....   **bleep** you Commenity with your easy approvals aka shopping cart.....lol....No more Comenity for me...and No  more Sych for me -- that's like 20 cards right between them both -- all Major Credit Cards

[fedxboy]

I didn't swear....but it looks like it *bleeped* out my comment........lol

[Anonymous]

Ok, well no details then, I guess. 

FWIW, I think it would make a really interesting thread if you started one around optimizing your card portfolio.  It would take a bit of work to start, with listing all cards/limits, spending/rewards priorities, age of accounts etc.  But it sounds like there is a lot of room for improvement and it could allow you to acquire a few very high CL cards while trimming a lot of the fat, per se.  I'd wager that those denial letters alluded to as much.