Alrighty, I pulled the trigger with NFCU after opening a Savings account with $100 2wks ago. I was instantly approved for the cash rewards card, but with only a an $8000 limit, same as Apple.
I also decided to go for the CLOC $15K and was instantly denied. After researching the forum more, I lowered the amount to $6000 and turned again, still denied. I don't know why yet, but I've sent a recon message addressing reasons that I think it may be that ive listed below. Oh, and they pulled d2 back-to-back TU inquiries, which I'm not happy about. But no score drop, so that's a plus. I'm going to put TU on ice for a while.
Possible Denial Reasons
1. I have 3 new accounts (that are reporting) in 12mos. Although, my utilization is only at 2%. Last acct opened was a personal loan in Jan.
2. MY DTI went up after approval for their credit card. I also accidentally put my income as $131k versus $133k, which I corrected in the recon and offered to provide POI.
2. Apple Card inquiry from earlier this week, which put me at 1/6mos and 5/12mos on inquiries.
3. No checking or direct deposit wjth NFCU. I only opened a savings when I joined, but I explained in the recon that I will be switching direct deposit for my employment income to NFCU.
4. The way that I reported my income. On other applications I was able to combine all sources of income. On this application I had to report my employment income separate and my remaining income (from retirement, disability, rental property) under under "other" with no option to explain the source. So, I broke down my income in the recon message.
I'll post how the recon went once I hear back.
RECON UPDATE: No dice....NFCU responed to with this email:
"We would be glad to consider an application from you. However, there is no way to advise you on the chances of a loan approval, monthly payments, or interest rate before you actually submit the application for review...."
So, they pretty much ignored my request to recon with my recent application. I decided to try to recon by phone, but the rep pretty much told me the same thing. She also couldn't tell me why it was denied and suggested that I reapply after I've gotten the denial letter. I'm no longer interested after learning that the SL is now only $500, but I am anxious to get the denial letter.
