NFCU Approval - Is this Normal ?

[Janneman]

@Anonymalous 

I still dont get it as to why me having a $41k limit cashrewards card would be the reason to get denial of Flagship when Im not to their full exposure...

[Anonymalous]

@Janneman, my point is maybe you are at your full exposure. Every lender decides how much credit they're willing to extend you, based on your profile. The most Navy will ever give anyone is $80K, but that's only for people who have the history and income to support it. The amount of unsecured credit they're willing to extend to you is probably less.

For instance, I only have 16 months of credit history. Navy's been pretty generous so far, but I really doubt I'd be able to keep adding cards and CLIs until I reached $80K. The maximum unsecured line of credit they're willing to extend me is bound to be smaller.

They've already extended you $41K. That's pretty good. They clearly like your profile. But maybe they don't like it enough to be willing to extend you the full $80K. Maybe they're only willing to extend you $42K. If that were the case, it would explain why you were rejected for the Flagship. Because the Flagship requires a minimum SL of $5K, and if we add that $5K to your current CL, it would would put your total exposure at $46K. Since that's higher than the $42K I hypothesized they might be willing to extend you, it would mean a denial.

Conversely, if you asked for your CashRewards to be dropped to $36K, then even if you're currently at your maximum unsecured limit, they could still issue you a Flagship because $36K+$5K = $41K.

[Jnbmom]

Honestly I am not sure if opening more products with them will improve your chances anymore than before .

I opened my first account with them on 4/2018, second one on 7/2018 and 3rd card on 10/2018. I have checking which 50.00 goes through DD every 2 weeks and have 2K in savings account .  No other products 

I have 80K max on cards and 15K with CLOC  and a modest income compare to others ..

[Janneman]

@Anonymalous 

Sorry but I totally disagree with your assertation over here. First off, we are not talking about hypotethical assumption as to who is eligible with how much unsecured line of credit with NFCU. Secondly, I am not told specifically that Im at maximum unsecured CL with them. The underwriting for Flagship card is totally different than other credit products. Thirdly, I got Cashreward 5-6 yrs ago and since then never applied for any credit products with them; otherwise I might have received more products as well like others. Fourth, I want only Flagship card which was denied 6 months ago for the reason that I dont qualify for the minimum CL required for this card and my internal score was very low. So, in order to raise internal score, I have pitched all these; otherwise I have 821 score across all buraus...income: $150k/yearly...zero utilization...total available credit: over $400k...Length of oldest account:25 yrs...

Anyway, we will see how it will go. I just can not stop even trying in thinking that I might not be eligible for more unsecured line of credit. I should give my best shot and at least trying. And if I still wont get it then oh well...not the end of everything...will move on to other creditors...

[Anonymalous]

@Janneman, I think you're confusing me with @Jnbmom. (I don't have 3 cards with Navy.)

[OmarGB9]

---

@Janneman wrote:

@Anonymalous 

Sorry but I totally disagree with your assertation over here. First off, we are not talking about hypotethical assumption as to who is eligible with how much unsecured line of credit with NFCU. Secondly, I am not told specifically that Im at maximum unsecured CL with them. The underwriting for Flagship card is totally different than other credit products. Thirdly, I got Cashreward 5-6 yrs ago and since then never applied for any credit products with them; otherwise I might have received more products as well like you. Fourth, I want only Flagship card which was denied 6 months ago for the reason that I dont qualify for the minimum CL required for this card and my internal score was very low. So, in order to raise internal score, I have pitched all these; otherwise I have 821 score across all buraus...income: $150k/yearly...zero utilization...total available credit: over $400k...Length of oldest account:25 yrs...

Anyway, we will see how it will go. I just can not stop even trying in thinking that I might not be eligible for more unsecured line of credit. I should give my best shot and at least trying. And if I would still wont get it then oh well...not the end of everything...will move on to other creditors...

---

Even if you disagree with @Anonymalous, it sounds like that's what is happening. When Navy said "you don't qualify for our minimum CL required," that IS Navy saying that you're at the max unsecured credit with them, at least at the time you applied. The max they're willing to lend you at any given moment can fluctuate. It may or may not ever get to the $80k max, regardless of income and FICO scores. Adding other types of products with Navy *may* help raise your internal score, but even if it does, it doesn't guarantee your odds of approval on the Flagship will increase. 

[M_Smart007]

---

@Janneman wrote:

@Anonymalous 

I still dont get it as to why me having a $41k limit cashrewards card would be the reason to get denial of Flagship when Im not to their full exposure...

---

Possibly because you are at "MAX" internal limit of what they are willing to lend you?

[M_Smart007]

---

@Janneman wrote:

@Anonymalous 

Sorry but I totally disagree with your assertation over here. First off, we are not talking about hypotethical assumption as to who is eligible with how much unsecured line of credit with NFCU. Secondly, I am not told specifically that Im at maximum unsecured CL with them. The underwriting for Flagship card is totally different than other credit products. Thirdly, I got Cashreward 5-6 yrs ago and since then never applied for any credit products with them; otherwise I might have received more products as well like others. Fourth, I want only Flagship card which was denied 6 months ago for the reason that I dont qualify for the minimum CL required for this card and my internal score was very low. So, in order to raise internal score, I have pitched all these; otherwise I have 821 score across all buraus...income: $150k/yearly...zero utilization...total available credit: over $400k...Length of oldest account:25 yrs...

Anyway, we will see how it will go. I just can not stop even trying in thinking that I might not be eligible for more unsecured line of credit. I should give my best shot and at least trying. And if I still wont get it then oh well...not the end of everything...will move on to other creditors...

---

There is this thing ....in relating to "all things credit," and it is called "PATIENCE" ...

If you try to rush it, you will only become frustrated, and possibly slow the process even more.