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NFCU 91/3 approval for 2nd card but denied CLI and CLOC

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NFCU 91/3 approval for 2nd card but denied CLI and CLOC

Ok I still love Navy and I am grateful for an approval but I guess I kinda expected more lol. So my 91/3 came which at the time my EQ is my highest score (EQ 8-731, EQ 9-727) I decided to apply for the CLI first since I knew they pulled the EQ score. I asked for 25,000 got the 24 hour review message and couldnt resist calling. I got a rep and he flat out told me it was denied. I was shocked because with a 730 I just knew I should have been approved. After thinking about it being HP anyway I decided I might as well try the CLOC hoping it was just the same pull (it wasn't) I was also denied! I sent 2 seperate secured message reconing both decisions and the next day got the we have to stand by our decision blah blah blah for both! I was discouraged at this point so I didnt try for another card until the next day. I originally wanted to apply for the Flagship but with the 2 denials I played it safe and got the Cash Rewards for $8,000 at 18% apr. Not the best limit for a 2nd card and highest apr but still an approval so i'll take it.

 

Not sure if this is a factor or not but before my 1st NFCU card I didnt have any real credit cards open only 2 store cards. I have 1 closed cc always paid on time only open for about a year. My NFCU card (and also a secured loan I had from them) is on my EX and TU but not EQ so I believe that is the reasons for the denial because my EQ is pretty much blank as far as open real credit card history so ill appeal once EQ updates my 2 accounts to see if that was the case. Will update once the appeal is done.

 

DP's

DTI-18%

Income-94K

UTI- 1%

TU-672 8 inqs(pulled for CC) aaoa- 1y,7m

EQ-731 6 inqs (pulled for CLI and CLOC) aaoa 1y,10m

EX-676 5 inqs (didnt pull at all) aaoa 2y, 4m

Message 1 of 15
14 REPLIES 14
Valued Contributor

Re: NFCU 91/3 approval for 2nd card but denied CLI and CLOC

If you've already asked for reconsideration of their original denial for a CLI and were turned down I frankly don't see how an additional appeal would yield a different result.  While FICO scores are an excellent benchmark, Navy considers much more than just your score in making their decision.  In all likelihood you've reached their internal limit on how much credit they are currently willing to extend to you now, and that limit could only be increased by additional credit history with Navy.

 

Its fairly well known - especially if you read the large Navy CLI thread - that in the past year or so Navy has significantly reduced CLI approvals after 91 days and they recommend waiting 180 days before asking for a CLI.

 

Congrats on your approval for a second NFCU credit card.





Message 2 of 15
Super Contributor

Re: NFCU 91/3 approval for 2nd card but denied CLI and CLOC

Congrats on the approval for a second NFCU credit card.

Message 3 of 15
New Contributor

Re: NFCU 91/3 approval for 2nd card but denied CLI and CLOC

MaizeandBlue- Well like I stated when they pulled EQ it wasnt updated with my previous loan through NFCU or the previous card so it would technically be a different credit report and score that shows previous history that my current one doesn't because the denial reason was only due to my credit report. Also, I shouldn't be at the limit with them at only 13K, I've been a member over a year, I have a paid off loan through them, and I make 94K that they can see coming into my checking account. I'll try the appeal as long as its no HP if not I guess ill wait another 91/3 try another card and another CLI lol. Thanks for your response!

 

CreditMagic7- Thank you!

Message 4 of 15
Valued Contributor

Re: NFCU 91/3 approval for 2nd card but denied CLI and CLOC


@MikeMike18 wrote:

MaizeandBlue- Well like I stated when they pulled EQ it wasnt updated with my previous loan through NFCU or the previous card so it would technically be a different credit report and score that shows previous history that my current one doesn't because the denial reason was only due to my credit report. Also, I shouldn't be at the limit with them at only 13K, I've been a member over a year, I have a paid off loan through them, and I make 94K that they can see coming into my checking account. I'll try the appeal as long as its no HP if not I guess ill wait another 91/3 try another card and another CLI lol. Thanks for your response!

 

CreditMagic7- Thank you!


Navy soft pulls your credit information from other credit bureau(s) monthly, and obviously they also know about your previous loan with them.  So if they denied you with full knowledge of the information already available to them I don't think you stand a reasonable chance on appeal; especially when as previously stated they now prefer at least 180 days before approving a CLI. 

 

Also, Navy uses its own proprietary internal credit scoring system.  Since your APR on the new card was at 18%, you should be receiving a Cost of Credit letter from Navy in a few days that will show your internal score with them (the scoring system ranges from 100 - 450).  The fact that they only approved you at their highest APR suggests that they still consider you a fairly risky customer and that risk is reflected in the interest rate.

 

You should disabuse yourself of the notion that you shouldn't be at the limit that you're currently at....that's just not how credit works.

 





Message 5 of 15
Valued Contributor

Re: NFCU 91/3 approval for 2nd card but denied CLI and CLOC

Sorry about your denials but congrats on the Cash Rewards approval!

"Hover mouse over cards to see CL and APR info"


Message 6 of 15
New Contributor

Re: NFCU 91/3 approval for 2nd card but denied CLI and CLOC

Thanks for your feedback MaizeandBlue. Although you seem very knowledgeable on this topic, I think I will leave that to Navy to decide. If my only reason for denial was credit, like I previously stated the rep told me, I don’t think I should go off anything but that. This is my thinking, if they are denying me based off my credit & it’s currently not reflecting 2 positive accounts, once those accounts start reflecting on my credit I think it will better my odds. Neither one of us knows for sure so I’ll just take a chance and hope for the best. I’ll update either way!
Message 7 of 15
Community Leader
Super Contributor

Re: NFCU 91/3 approval for 2nd card but denied CLI and CLOC

In your case , it just maybe your limited credit before Navy that is making Navy slow dance with ya. Eventually, your 94k and and good payment history will make a difference. Sometimes girls want to be romanced not hit over the head with Caveman TheorySmiley Wink
#ChaseCreditCardHobby Enthusiast
2022
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Message 8 of 15
Valued Contributor

Re: NFCU 91/3 approval for 2nd card but denied CLI and CLOC


@MikeMike18 wrote:
Thanks for your feedback MaizeandBlue. Although you seem very knowledgeable on this topic, I think I will leave that to Navy to decide. If my only reason for denial was credit, like I previously stated the rep told me, I don’t think I should go off anything but that. This is my thinking, if they are denying me based off my credit & it’s currently not reflecting 2 positive accounts, once those accounts start reflecting on my credit I think it will better my odds. Neither one of us knows for sure so I’ll just take a chance and hope for the best. I’ll update either way!

 

Navy is sticking their neck out for $13k when you have no other major credit cards.

 

That is 13 times as much as I got with more income, more credit, and better Fico scores.

 

History matters.  I imagine it will be different in a year.  GL!

 

 

 

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Message 9 of 15
New Contributor

Re: NFCU 91/3 approval for 2nd card but denied CLI and CLOC

Yeah lol I get it, I know I may be asking for a lot to soon. I just feel like come on I've seen Navy give away 25K to people with lower incomes, higher uti and dti and 500 scores lol but regardless i'm being patient and if the appeal doesnt work I will try again in another 90 days since that will be my 6 month mark and hopefully those same flood gates open for me then lol.

Message 10 of 15
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