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Tried again after 3 months NFCU approved, Penfed still declined on recon


Re: Tried again after 3 months NFCU approved, Penfed still declined on recon

What is your current jon situation?

90% is way too much. No offense but unless you change the way you use your cards, even you NFCU  $7000 SL may no help you on the long run.

My 2 cents. Do not use your new card. Work on reducing your current UT to at least 30%.

Use your card wisely.

Message 11 of 12
Frequent Contributor

Re: Tried again after 3 months NFCU approved, Penfed still declined on recon

@lexus829 wrote:

I just wanted to thank this forum really... last year I joined NFCU and while rebuilding credit... 

Been in Penfed awhile, but due to some negative on my acredit seems like my score never made it up

mid so i tried some credit repair and paid my new accounts on time....

Ive had Thirfty for $500 , my own cedit union with secured card for $1000 and Capital One card for $1000..

this was around December 2016...  after some credit1 repair my score on TU finally reached 620, 590 EQ , 600 EXp..

Credit1 was able to delete my tax lien, some old collections and a few inquiries... 

In March I tried applying at Penfed for Promise and NFCU Cash rewards, i was declined on both even with recon... all my creidt above

was high utilization.. .. so yesterday I tried to apply again for Promise and NFCU Cash rewards... 

Was declined again with Penfed explained my situation that my score now is in low 600s, but they keep referring to NG score from 3/24

they said its showing the same status?  on FICO my score went up an average of 40 points since March... plead my case but still got denied

good news is they told me they will be switching to FICO so might be good news for us...

Now just heard from NFCU that the cash reward was approved for $7000+ i was in!! so what I did is I replied thru the application 

status portion while it was on review... I stated what I did, what I was doing with my credit , how a new card can improve my DTI and working

on aiming 700+ by end of this year... I literally line by line wrote the negatives on my credit and explained it on the message;  to my surprised its approved.

Just wanted to thank this forum and the contributing members here.... 

there's a refresh on myfico score on 6/29... but right now it says FICO 8  home dashboard 564 EQ (or credit karma is 622) , TU 586 (same as Karma), EXP 612 (645 when i bought a car 2 moths ago)  my creidt utillzation is at least 90% (this might be what killing me on penfed but now with the new card it'll be at 30%)

So with that, should I apply for something else? i do have the normal checking overdraft should i apply for CLOC? or wait?

Congratulations on your NFCU approval ;-)


I would say it would be better to let NFCU age some before applying for any new credit.  Also as others have stated, pay down your current credit line quite a bit.  Your goal should be 29% or less with that credit line.  This way you can show two things: positive repayment history over time, as well as show on credit scores that you have a boost.  Although I do understand that you want to lower your overall credit utilzation, but sometimes we put ourselves in a bind by masking it with additional credit.


Also another thing I would mention, and I say this from personal experience and what I currently do and have been doing for quite some time, is to treat any credit card line as if it is a debit card. Unless you have 0% interest.  This way you never exceed your means and also aways have positive payment history as well.


Just my two cents... please let us know what you decide.

Starting Score: EQ 593, TU 600, EX 612
Current Score: EQ 850, TU 850, EX 843
Goal Score: EQ 750, TU 750, EX 780

Take the myFICO Fitness Challenge
Message 12 of 12
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