NFCU cash rewards card - denied - Update Approved

[Anonymous]

Hello,

A few days I applied for the Cash rewards card but I was denied, have to wait for the letter to come for the specific reasoning but I sent a secured message to ask for a reconsideration.

A little back story is my auto lain was charged off by navy fed at the beginning of the year. I was having financial trouble and I owed over 19k on it. A few days ago I called them and paid off the full 19k and even deposit 1k into my savings account with them.

Currently I have two cap one cards, QS- $300 and QS1 - $4300.

My current Fico 8 scores are
Equifax- 625
Transunion- 637
Experian- 613

My uti rate is about 4%, hopefully they give me a chance even if it’s a lot SL. If not then maybe I’ll have luck with the secured card.

[M_Smart007]

Welcome to myFICO forum! and Sorry for your Denial

I am guessing it was due to the recent Auto CO? .. but I could be wrong.

Secured route may be the way to go to build up your internal score and get back in.

Please keep us posted on what the letter says.

Happy Holidays!

[AverageJoesCredit]

Good luck on recon. I understand Navy charging off an account is bad juju. They are one of the most lenient and charitable lenders but burning them has harsh repurcussions. Hope it works out.

[Anonymous]

Received a notification from credit karma that my trans union was pulled again, 5 minutes later I received a secured reply from NFCU about my reconsideration that I have been approved for a 15k limit. Thank you for second chances.

[M_Smart007]

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@Anonymous wrote:
Received a notification from credit karma that my trans union was pulled again, 5 minutes later I received a secured reply from NFCU about my reconsideration that I have been approved for a 15k limit. Thank you for second chances.

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@Anonymous 

Welcome To myFICO Forums and

[M_Smart007]

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@AverageJoesCredit wrote:
Good luck on recon. I understand Navy charging off an account is bad juju. They are one of the most lenient and charitable lenders but burning them has harsh repurcussions. Hope it works out.

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Hey @AverageJoesCredit , look at that recon, from Zero to Hero .. only with Navy!!!

[DoctorManhattan]

That is awesome congrats. Might really need to start thinking about NFCU. But for now in the garden until I purchase my home.

[Anonymous]

I'm just glad I had the cash handy too pay of that hefty debt with them. I need to read up on another card to apply for with them in the next 3-6 months.

[M_Smart007]

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@Anonymous wrote:

I'm just glad I had the cash handy too pay of that hefty debt with them. I need to read up on another card to apply for with them in the next 3-6 months.

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Build up some history and your internal score with them, and your 2nd card will be even better

I would suggest waiting the 6 Months. but that is just Me. and opinions will vary.

Strong Credit is not a sprint, but a Marathon.

[Anonymous]

How do I build my internal score? I'm also will be utilizing my credit and checkings account, making a monthly deposit of at least 1k into my savings account. Hopefully that can help build it.