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NFCU Approved...Small SL but happy!

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NFCU Approved...Small SL but happy!

I joined NFCU back in December and applied shortly after for a platinum credit card. I instantly got "does not meet lending requirements". I even tried sending a recon message but was once again denied. They listed several reasons why in their denial letter and gave me an internal NFCU score of about 198. I continued working on my credit as I had been already. I know my FICO score from my Discover secured I got back in last April was 563 Smiley Surprised

 

 I had a new (old) collection from Midwest Recovery services pop up in late November and four other collections on my report. From November to January, I had 5 collections removed. All were pay for delete. All my extra funds went to those debts for those months. My utilization went down a little also, I don't know exactly what it was at. But Transunion and Experian alerted me I was now collections free. Also during this time, I pretty much closed all my SCT cards: Victoria's secret, children's place and then I closed my Fingerhut account too.

 

My FICO scores were now 613, 614 and 618. I know I should have waited until I paid EVERY credit card down but with this "PATH" act tax refund mess, it's taking a little longer to do. I logged into my NFCU account and decided to go for it, which I'm glad I picked the Platinum. I was not immediately approved. It went to "application under review". I thought "hey, it's alot better than the 1st instant denial" but I was still sad. I know it said wait 24 hours but I was anxious. I went to my secure messages and sent an email regarding my application summarizing all the changes I had made since last being declined. Literally, not even 30 minutes later, I got an email to go to my account center to check my messages. I went there and saw my application had been approved! Unfortunately, I could not see the CL or APR. So I had to call to get that info. $500 is a low SL but I know to treat it right and at my 90 days, I'm going to ask for a CLI. By then I know my scores should be around 640-650.

Message 1 of 8
7 REPLIES 7
Valued Contributor

Re: NFCU Approved...Small SL but happy!

Nice job. Keep working hard. It will all be worth it. Congrats again and good luck!!....Smiley Happy

American Express Business Gold(NPSL 10k) Chase CSP (25k) Pier 1(23.5k) BofA CR Siggy (20.8k) BofA BBR (22.1k) Amex BCP(18k) Overstock (21.1K) Lowes (17K) NFCU CLOC (15K) NFCU VS Cash (15K) Care Credit (15k) J Crew( 11.9k)Venture WMC (10.25k) Amex Everyday (10k) Chase Slate (10k) Walmart MC(10k) BB Visa (10k) Discover(9.5k☝️) PayPal Cashback Mastercard (8k) Chase FU (7.4k) Citi AAdvantage Gold World Elite (9.5K) Citi Double Cash (8.5k) Fidelity® Rewards Visa Signature® Card (6.5K) PenFed PCR (5K) PayPal Credit (4550)Discover (4.5k✌️) Kohls (3k) Chase Freedom (1500)

Mortgage May 2017 - 2 auto loans (1 PenFed and 1 Navy) Aug 2018=98K
Gardening until Aug 2020

FICO 8 Scores EX 693(7) EQ 687(9)TU 708(10)
AAOA 4yrs TCL=332,600
Message 2 of 8
Established Contributor

Re: NFCU Approved...Small SL but happy!


wrote:

I joined NFCU back in December and applied shortly after for a platinum credit card. I instantly got "does not meet lending requirements". I even tried sending a recon message but was once again denied. They listed several reasons why in their denial letter and gave me an internal NFCU score of about 198. I continued working on my credit as I had been already. I know my FICO score from my Discover secured I got back in last April was 563 Smiley Surprised

 

 I had a new (old) collection from Midwest Recovery services pop up in late November and four other collections on my report. From November to January, I had 5 collections removed. All were pay for delete. All my extra funds went to those debts for those months. My utilization went down a little also, I don't know exactly what it was at. But Transunion and Experian alerted me I was now collections free. Also during this time, I pretty much closed all my SCT cards: Victoria's secret, children's place and then I closed my Fingerhut account too.

 

My FICO scores were now 613, 614 and 618. I know I should have waited until I paid EVERY credit card down but with this "PATH" act tax refund mess, it's taking a little longer to do. I logged into my NFCU account and decided to go for it, which I'm glad I picked the Platinum. I was not immediately approved. It went to "application under review". I thought "hey, it's alot better than the 1st instant denial" but I was still sad. I know it said wait 24 hours but I was anxious. I went to my secure messages and sent an email regarding my application summarizing all the changes I had made since last being declined. Literally, not even 30 minutes later, I got an email to go to my account center to check my messages. I went there and saw my application had been approved! Unfortunately, I could not see the CL or APR. So I had to call to get that info. $500 is a low SL but I know to treat it right and at my 90 days, I'm going to ask for a CLI. By then I know my scores should be around 640-650.


@credit, I am so happy for you, congratulations!  You are IN!! Thanks for sharing the data regarding your journey because it really shows that all the hard work pays big dividends!

 

If you haven't already, please consider posting the details of your process and success with 'pay for delete' because it's always a topic that members are looking for direction with and you clearly had it locked in!

 

Outstanding news about your new card and I look forward to following your journey!

Smiley Very Happy

Message 3 of 8
Established Contributor

Re: NFCU Approved...Small SL but happy!

Congratulations on your new card!  Nice!

October 2019 Current Scores: Experian-670
TransUnion-680
Equifax-696
Goal for 2019: Scores of 675 all across the board.
Gardening until Spring 2020

Cap One (PCed to Quicksilver 7/20/18) $500
C1 Quicksilver One $1.6K
DiscoverIt Chrome $1.8K
Walmart Store Card $500
Ollo Rewards Card $800
Amazon Store Card $1K

Cards I Want: Paypal 2%, CareCredit, Capital One Savor

Total Utilization: 30%
No baddies
Inquiries to Date- 3


Message 4 of 8
Contributor

Re: NFCU Approved...Small SL but happy!

Yes I def will. I did forget to add in there that I filed chpt 7 bk in 2013. I was just waiting until I got my final scores after paying all my cards down (following the advice I got on here). I'm super excited. Milestone and Indigo have been filling up my inbox with emails for prequalification and I never went through with it. I'm glad I didn't.

Message 5 of 8
Regular Contributor

Re: NFCU Approved...Small SL but happy!

So exciting! That card will grow fast!

July 17' - Scores 480s across the board
Fico Scores
Jan 18' - Exp 542 Eq 532 Trans 540
18' - Exp 642 Eq 649 Trans 660

Bank Cards - NFCU Cash Rewards $10k, NFCU Platinum $2000, NFCU MR $1000, Amex Delta Gold $1000, Discover IT $1000, Cap1 QS1 $300, Credit One $550, Primor Secured $250
Store Cards - Ikea Project $5500, Lowes $5000, Amazon Prime $5000, Fingerhut $1400, Jcrew $1020 - Other Comenity Cards $1400

Currently under contract for my first mortgage!
Message 6 of 8
Community Leader
Super Contributor

Re: NFCU Approved...Small SL but happy!

OutstandingSmiley Happy From one intial $500 member to another big CONGRATSSmiley Happy
#ChaseCreditCardHobby Enthusiast
2022
!
Message 7 of 8
Regular Contributor

Re: NFCU Approved...Small SL but happy!

Congrats I'm also rebuilding and NFCU approved me last night also. I'm hearing great things about Navy hopefully they treat us good.

Rebuilding since 1/18: NavyFed CashRewards $3700 | Cap1 ̶P̶l̶a̶t̶ QuickSilver $750 ($300 SL) | Credit1 $450 ($300 SL) | Express $250 | NavCheck $10K

FICO 4/18: EX 686 | TU 694 | EQ 692
Message 8 of 8
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