NCFU Go Rewards approval but personal loan denied

[Anonymous]

Last week I applied for a debt consolidation loan with my local CU (Cardinal CU) for $8k and they countered with offering me a secured loan (my 2008 Toyota 4runner) for $7.5k @ 6.99% @ 60 months and the would also convert my $250 secured VISA to an unsecured VISA with a $2k limit but they said I would need to sign an agreement with them to close the 4 cards that the loan would be paying off, which I have had for around 10 years or so. I was turned off by this and decided to app at NCFU. 
 

So, I recently decided to join NCFU a couple of days ago and opened a checking and savings account and applied for a GO rewards card and a personal loan for $8k with a term of 60 months. They approved the GO rewards @ $3,700 and denied the loan, I asked her why she said that the credit card is much harder to get than the loan and they have different underwriting, err ok.

I didn't realize until later that she only used my income and not my households. The next day I received a follow-up call from a nice lady in customer service telling me about all of the features my new account has. I asked for her to let me speak to someone in customer service about my income reporting issue. I was transferred to someone in customer service and they said that they can't use household income unless they are either on the app on have an account @ NCFU. I called BS and went to my local branch and the person who I spoke to at the branch said the same thing and she also took a look at their internal disclosures, stating it says the same thing. I asked for her to call underwriting and underwriting said it was fine to include household income.  

So, she is supposed to submit the updated income information to underwriting/recon? to review the app again because I wanted to get approved for this loan and potentially be offered a higher credit limit for the GO card. I was really frustrated with this entire process because I expected the people @NCFU to know what they are doing (due to all the high praise they receive on these forums) because if it wasn't for the great people on this forum I would have given up on my argument and settled for what the first/second person told me. 

Now, my question is, should I personally reach out to underwriting/recon to check on this (I've lost all faith with the local reps and their ability to follow-through, other service issues I had) or just wait for someone to contact me based upon the rep stating she would resubmit my info for reconsideration? Also, they did two hard pulls, one for my credit card and the other for my personal loan, is this normal? 

My Discover score is showing 640 with my util at 47%, but that should go down to about 30-35% next month. 

[AverageJoesCredit]

If you dont mind, what income were you originally reporting? A good data point for those of us with interest in apping pl . Also, you should refer to Navy as NFCU not NCFU as its very confusing and someone might try to find it without actually finding it

[pizza1]

Hi and welcome to the forums! Glad you are here and posting!

First, congrats on the CC approval, and I wouldn't have closed 4 cards either if a lender asked me too, I don't care who they are....accept maybe Navy, LOL...(sorry, I have a soft spot for them because they have been so good to me).

Anyways...Yes, its normal for Navy for HP for everything. Anytime you do anything with them, expect a HP, and then be pleasantly surprised if it doesn't happen.

Navy has kinda cracked down some, and the LOC use to be easy to get, but as of late is a little tricky. They also like to see history with them for a bit as well before opening the flood gates for credit etc..

I would wait a few days and see if you hear anything back from the recon. More than likely you'll get an email congratulating you and letting you know your LOC limit, or you'll just log in one day and see on your act page.

I hope you asked for the full amount which is $15k, they counter if they can't give you the full amount. With Navy, you always ask for "max" on everything since they counter. Good luck and keep us posted!

[AverageJoesCredit]

Hey Pizza Isnt the Loc different than a personal loan?

[pizza1]

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@AverageJoesCredit wrote:
Hey Pizza Isnt the Loc different than a personal loan?

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Yes it is...dont mind me tonight...LOL..I seriously was just typing away thinking it was the LOC, LOLOL...oh boy..

OP.....Sorry, AJC had to bring me back to the correct credit item you were talking about, LOL..(boy do I feel dumb right now, hahah)...anyways...So, IF you ever want to apply for the LOC, then my previous post would apply, ha!.. But, PL with them are WAAYYY different. I cant even get one with them, and ive been with them for 4 1/2 yrs, have checking, savings, $15k LOC, and 2 CC's $25k/$20k, and a paid off car loan with them that was paid off 10 month early.   Their PL are hard to get.  If you need a PL...join Penfed...Their PL are much easier to get....

[AverageJoesCredit]

Lol, Wow Pizza!. They must be tuff if you couldnt get one. Someone with my income probably would never have a chance then but its good to know. I did get one with PF but they must have lol to their bank with the interest rate they stuck me with

[Anonymous]

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@AverageJoesCredit wrote:
Lol, Wow Pizza!. They must be tuff if you couldnt get one. Someone with my income probably would never have a chance then but its good to know. I did get one with PF but they must have lol to their bank with the interest rate they stuck me with

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AJC don't worry about the PF interest cuz your young and you have lots of time to pay!