so I've previously posted. I charged off in chapter 7 NFCU for 6500 dollars back in the end of 2015. I have had pretty low credit since because I maxed out my cards that I have after having an accident a year and a half ago. I received a settlement so I paid off all my balances completely. I went from a 563 to a 620 after paying these all off. I decided to pay back my charge off of 6500 to NFCU to try and reestablish a relationship. I applied for a card in May 2020 and was denied with reason "you caused navy Federal a loss" i requested recon and got a secured card for 300 dollars.
At the time of the application in May my score was 620 transunion with 2 inquiries, no collections, 34 percent utilization across the board with the following cards:
Discover it: 5000
Target redcard: 2500
Usaa secured: 500
Capital one quicksilver: 3500
Lendingtree loan: 4500 left originally 11k loan
Amazon store card: 600
All payments on time.
On 3rd billing cycle my secured card limit went up to 700 dollars (still secured) with letter that at 6 month mark it could be moved to unsecured.
I decided to apply for the platinum rewards card. I got the 1-2 day dreaded message. I was DENIED!
I received the letter in the mail with denial "you caused navy Federal a loss"
I sent a message and asked why this message is still on my account as I had paid it off in full and that it is no fair i get denied for credit. They are extremely backed up in answering it took 6 business days to get a response. Welll.......
APPROVED!! 20 k starting limit with platinum rewards. It said we see you paid in full and no longer have a charge off on your account. I was approved for the 20k with a credit score on transunion of 660.
CRAZINESS!! I am so happy I am in good graces with NFCU again! I hope that messsge was finally removed from my account so I do not have to go through recon everytime but if I have to its worth it. So glad they are taking care of me again. The only balance I have to date is 4 k left on lendingtree loan which has 28 percent APR. I will transfer that balance to new card and then I will be set.
PS.... I used my NFCU secured card for every single purchase I could as if it were my debit card and made payments every couple of days. I made about 1500 in purchases a month (imagine doing that with only a 300 limit) i also had all my deposits from work going in there (not direct deposit because I am still partially receiving compensation for work loss under my car accident insurance as I can only tolerate needing some time off here and there for flareups)
NFCU is the best!!
Anyone have any questions regarding my situation?!
