Nfcu denial

[aesl1982]

Well reports updated and wife still declined at nfcu her tu Fico 8 is 665, 4 credit cards two at 3 percent util, 2 at 98percent. No collections, accounts ever late 2. Time since negative 2 years 8 months, average account age 3 years 7 months,oldest account 12 years 7 months. Recent accounts are truck in March, two credit cards in June, and a furniture account in May. Her Experian is 681, and eq is 645. No Amex pre approvals. No discover pre quals either.

[Anonymous]

I am not surprised with two cards at 98%. Nobody is going to want to extend credit with two out of four cards literally maxed out. Her aggregate is like 50% too. 

[aesl1982]

Okay cool, I actually paid one of them down already but was a day to late for reporting. And the other is paid down on Friday. Hopefully she’ll get another nice boost after those report. The two cards that reported today gave her 60 points

[Brian_Earl_Spilner]

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@Anonymous wrote:

I am not surprised with two cards at 98%. Nobody is going to want to extend credit with two out of four cards literally maxed out. Her aggregate is like 50% too. 

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I got 4 cards with aggregate over 90%. She has a nearly 13 year old history. The issue isn't the utilization  It's probably the debt load.

[aesl1982]

Not debt load. Income is 182000 and monthly debt is 2800 according to credit report

[CreditInspired]

It’s not surprising DW was denied. She has been on quite a spree—4 new accounts in the span of 4 months with <700 scores and high UT.

IMHO DW should stop applying for credit until AoYA is 6 months. How many inqs does she have in the last 6/12/24 months?

[aesl1982]

Ex 8 total all last 6 months

Eq 5 total all last 6 months

Tu 17 total 15 last 6 months the other from 2017

It’s been under repair for 2 months and most of the inquires have been removed except for these. Looks like Transunion is the only one who don’t wanna delete them lol

[Anonymous]

You can't ask to delete inquiries if they're legit inquiries. And even when they aren't legit, it's still hard. (I had an inquiry that came erroneously from a family member and is NOT mine, I asked for it to be deleted and it still isn't.)

That's a lot of inquiries in a short amount of time. I'm not going to speculate on the cause for your wife's denial, but there's a lot of concentrated activity in a relatively short amount of time. Several more months of gardening may fix all of this.

[CreditInspired]

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@aesl1982 wrote:
Ex 8 total all last 6 months

Eq 5 total all last 6 months

Tu 17 total 15 last 6 months the other from 2017

It’s been under repair for 2 months and most of the inquires have been removed except for these. Looks like Transunion is the only one who don’t wanna delete them lol

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I change my mind about waiting 6 months. DW should garden a minimum of 12 months. Lenders view this behavior as aggressive credit seeking and in today’s climate they don’t like it. Gardening for 12 months will have 2 positive effects: allow new accounts to age, and inquiries >12 months will not have a negative impact on scores. And of course, keep aggregate UT <28.9%. 

[Meanmchine]

Garden 1 year.  Get utilization down.

Good luck