Navy keeps saying I'm prequalified but denies me?

[Morphyyy]

I've wasted quite a bit of inquiries due to Navy saying I'm pre approved for all the cards and then I get excited and apply and get denied Have yall had that happen? I quit applying awhile ago. I hit my 91/3 and got a 3x CLI but denied for new card and I kept going on sprees of hitting pre qualify and it says APPROVED then inquiry after inquiry of denial Don't do what I do lol. I've got 700 across all 3 and been with Navy Go rewards for more than 6 months now. $1500 limit right now and I max it out probably 3 times a month and PIF immediately and always report a small balance of myabe $20 because im doing AZEO my UTI is 3% every month. When I get the denials in the mail it's usually saying you've reached our maximum limit we can give you or something like that and not enough credit history

[dragontears]

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@Morphyyy wrote:

I've wasted quite a bit of inquiries due to Navy saying I'm pre approved for all the cards and then I get excited and apply and get denied Have yall had that happen? I quit applying awhile ago. I hit my 91/3 and got a 3x CLI but denied for new card and I kept going on sprees of hitting pre qualify and it says APPROVED then inquiry after inquiry of denial Don't do what I do lol. I've got 700 across all 3 and been with Navy Go rewards for more than 6 months now. $1500 limit right now and I max it out probably 3 times a month and PIF immediately and always report a small balance of myabe $20 because im doing AZEO my UTI is 3% every month. When I get the denials in the mail it's usually saying you've reached our maximum limit we can give you or something like that and not enough credit history

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Your experience with their "preapprovals" is what I have observed on this forum; i.e. they are worthless/inaccurate/other derogatory description 

There was a thread about this when Navy first came out with the "preapproval" page.

[Anonymous]

From everything I've read on here and on the huge NFCU threads Navy's pre qual is one of the most unreliable out there. I do know they weigh very heavily on DTI for new cards and CLI's. I believe a lot of people have said that calling in to check on being pre qualified tends to trios a little better results.

[Jnbmom]

@Morphyyy 

As we have concluded their preapprovals just seem to strictly marketing .

[Anonymous]

@Morphyyy I am sorry to hear about the denials. Usually after 91 days 3 full statements, 4 full statements if your first statement was partial, you should be approved for another card.

Navy's prequal page is not very accurate unfortunately. Navy mostly uses transunion for new credit card applications. Do you have any negative information in your reports?

As was mentioned above Navy tends to be wary of debt to income ratio. High dti in general may spook them. 

Also be careful if you are applying for the flagship, it has more strict uw than the other cards. You have to be approved for a 5k limit in order to get the card. 

Personally I would recommend applying again in 6 months if there is nothing negative in your reports.

You can also pull up your reports and check for any inaccuracies.

[Cowboys4Life]

My opinion for what it is worth:  ALL "you are prequalified" contacts are nothing more than marketing.  The creditor(s) pay the bureaus for a list of consumers who fit a set list of criteria.  For example:  FICO scores from 600-700, living in a particular region, own their home, have an auto loan etc.  Then they send an email or letter to those consumers stating they are prequalified for an auto loan, credit card, refinance etc.  ALL it means is you fit their screening criteria for contact information for you that they purchased and might fit the qualifications to get the product. It does not mean you will pass their credit check in full to obtain the product.  If the product they are pitching fits your needs then by all means apply but if it is borderline or unnecessary then you are simply accepting the risk that you may not be totally qualified to actually get the credit if you do apply.  

[KJinNC]

There are definitely profile types that NFCU doesn't like very much. I know because my profile is one of them. I don't blame them, just saying, a lot of people talk about NFCU approvals and CLs, but for me, they have been less generous than Amex, Citi, Sync, Apple and my smaller local CU. The only company that is more skeptical of me is Discover. OP, hopefully we both cross whatever threshold NFCU is looking for soon!

[Jccflat]

Yes I know someone the Prequalify site  showed he's prequalified three times and he got denied three times don't trust that it's FAKE 

People need to be aware of it 

Bob probably the worst that I saw

[gingerflower]

@Morphyyy 

Sorry for all your denials with Nfcu. My experience with Nfcu regarding Preapproved is if you receive an invite to apply in the mail with a preapproved code number then you are good to go...But, be sure your DTI is low bcuz nfcu really focus on high DTI. Hope this helps

[Anonymous]

@Morphyyy 

Yup prequals are worthless but one thing that is for sure, is that the 'reached max unsecured limit' changes over time. It took me several attempts as well to get a second card. I tried back to back to back months and finally had success. IMHO, I would just keep doing everything right (that you are already doing) and try again every two billing cycles. Navy has definitly tightened up due to Covid but you will be successful sooner or later.

Hang in there, keep the DTI in good shape and give it another try when you're ready. Please keep us updated on your journey with Navy and I have my fingers crossed for massive success with your next attempt!