Unexpected NFCU Denial... Recon help?

[Kenny]

You can always just send a message asking for a low level amount approval and a chance to prove yourself worthy.

[Anonymous]

I hear what you're saying @Kenny but c'mon when is enough, enough?

The UW said the profile has 'limited' experience and that's just true...there 4 brand new accounts, all well under a year old....

How many brand new accounts is prudent to 'see' what's, what

I know everyone is in a hurry and 6 months 'seems' like an eternity but it isn't....

Rebuilders pushing for 5th and 6th CCs within 6-7 total months of history are asking for someone to pump the brakes, because they are running too fast and looking RISKY, that's just the way any prudent fair financial person has no choice but to see it.

Again, no indictment just a "chill out" let's see you juggle the plates you already have in the air...

Aging a few accounts awhile also benefits the offers, rates and terms that the account holder is offered... getting stuck with 5 or 6 Scarlett Letter low level entry TLs might keep a person in the bush leagues

Whereas spacing a few of those approvals, so that one is approved later in the game with better scores and a thicker file garners better jump in points of entry.
*Not true with all lenders but we know it's true with several
Just another point to consider, when over applying

[Anonymous]

I had an unexpected denial last weekend. I applied for the Platinum to take advantage of the BT offer. Instantly declined.

I have had my Gorewards and CLOC for 10 months. Never carry a balance and always pay before statement cut date. Squeaky clean files and only 4% uti. I keep 10k in their money market and have checking and savings.

Seems like I'm at their internal limit.

So I applied for Penfed Power Cash and instantly approved for a baby limit of $11,000.00.

I was a bit disappointed with NFCU declining me, but I'm grateful they have extended $42,100.00 in credit between the CLOC and gorewards.

[Kenny]

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@Anonymous wrote:
@I hear what you're saying @Kenny but c'mon when is enough, enough?

The UW said the profile has 'limited' experience and that's just true...there 4 brand new accounts, all well under a year old....

How many brand new accounts is prudent to 'see' what's, what

I know everyone is in a hurry and 6 months 'seems' like an eternity but it isn't....

Rebuilders pushing for 5th and 6th CCs within 6-7 total months of history are asking for someone to pump the brakes, because they are running too fast and looking RISKY, that's just the way any prudent fair financial person has no choice but to see it.

Again, no indictment just a "chill out" let's see you juggle the plates you already have in the air...

Aging a few accounts awhile also benefits the offers, rates and terms that the account holder is offered... getting stuck with 5 or 6 Scarlett Letter low level entry TLs might keep a person in the bush leagues

Whereas spacing a few of those approvals, so that one is approved later in the game with better scores and a thicker file garners better jump in points of entry.
*Not true with all lenders but we know it's true with several
Just another point to consider, when over applying

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I can definitely understand where you're coming from in this statement. My sentiment is that if the OP is simply wanting this as there last card before they are closing up shop to garden for a while and grow things, then it's worth a shot via a secured message. But, I also agree with what you've said, as well.  It all depends on what your goals are at the moment in time you're currently in. That low SL card they have with navy now if they approve them, will easily turn into a very high level card with adequate income, so I don't necessarily think that keeps the OP stuck at the low starting line. Again, it's all about the current credit goals/needs a person has in mind.

[Anonymous]

I'm with you @Kenny

I'm just sharing 1) How a lender in that 5th or 6th position might see the applier...of course ppl only see from what they WANT...I was just explaining my a UW POV what the thinking may be

Also, my concern was less about a low SL, of course the number can grow...but more about getting LABELED the 'risky' interest rate profile and many times, again once you have that Scarlett Letter THAT'S stuck with your internal profile...

We see this with institutions all the time, where if you're approved as a 'C' rated file that's the track you're on, no matter that you actually might be an 'A' rated file 18 months later

IMO I see it both ways, however one takes chances when request half a dozen cards which really isn't necessary with 6-7 mo the of TOTAL credit history

Again just IMO more ppl will run into unnecessary issues trying to chase 5,6,7 TLs with a very short overall history...than had most would have had they just tended to the 3, maybe 4 TLs and let a little aging help them

Again, no absolutes here

It's like when does one have ONE too many?
There's never gonna be a consistent answer because it's a moving target..... enough is enough is a matter of opinion and unfortunately the other guy ( the UW) at said institution makes that decision and even that's a variable, like who won the 6th round😊

[Lucky7z]

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