Chances of approval with NFCU ?

gpeach · ‎03-09-2009

I have a opportunity to get some inventory for my business really cheap but need a loan/cc for the rest of it.Do I have a chance with the bad items on it if DTI is low?

Score on EQ 646 and EX 678

(these I am working on getting rid of but no luck yet)

OC : 537.00 DLA 2004
CA for above OC: say 971.00 owed not 537 as the OC says. DLA 2/05 / Date opened 03/08
CA : DLA 2002 due to fall off soon
CA: 141.00 DLA 2005

These other 2 did get PFD for a month ago but not showing gone yet. Should be gone very soon.
CA: 824.00 DLA 1/06 - Date Opened 3/08
CA: 59.00 - Date Opened 07/05 DLA --/--

Would greatly appreciate any advice.

gpeach · ‎03-20-2009

Did not get response to my question but wanted to update thread anyway with good news. Thanks to the help recieved and reading about others have learned alot.

Approved for a credit card with 2500 limit. Self employed so had to fax 2008 taxes. Applied in my name only and with my 15000 income after expenses was happy with limit given.

Declined for NavCheck LOC. Said income insufficent for amount requested. Thought they would counter offer with lower limit. But they just declined without asking for anything additional from me.

Done for now. Have this new NFCU and 300 secured BOA to unsecure in May. Don't need more. But when credit situation is better will add USAA or Penfed and mabye one store type card.

Anonymous · ‎03-20-2009

Congrats. Navy Federal is hesitant to give out a bunch of credit at once. Once you've managed your card for awhile they'll be more comfortable approving you for a NAVchek or giving you a CLI. If they're already denied one application due to insufficient income, in the future just be sure to space out your applications/CLI requests with several months (preferably at least 6) in between each one.