My e-mail to Navy about my CLI Denied #2

[Creditaddict]

Your Message 05/27/2014 : I recently did a request for a CLI which was denied and I received the denial letter stating a couple things I take issue to:
1. Bankruptcy - you all pulled EQ and EQ has taken a stance unlike the other agencies that they will report a chapter 13 bankruptcy for 10 years not the standard 7 years.
2. excessive credit obligations - I pay all my bills in full each month and the 2 highest balances reporting on the EQ were my 2 navy cards so you can definetely see I paid those off.

Navy Federal Response 05/30/2014 :Your recent credit limit increase requests on your goRewards and cashRewards Visas were denied due to the following reasons:

Excessive credit obligations
Delinquent past or present credit obligations with others
Derogatory public record(s)

The excessive credit obligations is in relation to existing revolving accounts on your credit bureau report, not specifically the balances. While your bankruptcy filing has been over seven years ago, it is public record that is affecting your credit score. The other five reasons listed on your letter are provided by the credit reporting agency, not by Navy Federal.

*** I think this confirms my hunge that I have been having lately seeing these 530-580 Credit scores getting approved for $4-$6k lines that Navy doesn't mind bad credit but they don't want to be in line with someone that is also off and running with a bunch of other credit too... Navy wants to be one in a select.... I feel like when I read about others getting these approvals they have some rebuilder cards but that's about it and then Navy....

This seems further answered that Navy doesn't only consider "Excessive Credit Obligations" as balances but to much available credit!

I'm actually more okay with this answer then before (can't dispute I have tons of credit available to me!), I was really teed off when my friend recently was granted a $5k after they closed his secured card when they realized they had made an error on it and I helped him get his scores the other day and they are all under 580 and the only positive account on his credit IS NAVY, he has not paid ANYONE ELSE!

[watch44]

Well, better than PenFed. 

[TRC_WA]

---

@Creditaddict wrote:

Your Message 05/27/2014 : I recently did a request for a CLI which was denied and I received the denial letter stating a couple things I take issue to:
1. Bankruptcy - you all pulled EQ and EQ has taken a stance unlike the other agencies that they will report a chapter 13 bankruptcy for 10 years not the standard 7 years.
2. excessive credit obligations - I pay all my bills in full each month and the 2 highest balances reporting on the EQ were my 2 navy cards so you can definetely see I paid those off.

---

1.  Since when?  Removal is 7 years from date of filing for discharged Ch 13... 10 years for dismissed Ch 13.  Did you complete the plan?

2.  Excessive obligations?  With a name like Creditaddict?  All one has to do is look at your sig and could probably come to that conclusion.  Just sayin'...

Speaking of your sig... is that why your EQ score is 100 points lower?  

[Creditaddict]

TU and ex removed my bk 13 at 7 years and I dismissed it.
My EQ has a Santander settled and a couple credit cards that were part of the bk that also were removed from ex and TU as being aged off and EQ also feels they can continue to report those things and that's why my score is so much lower.

[TRC_WA]

---

@Creditaddict wrote:
TU and ex removed my bk 13 at 7 years and I dismissed it.
My EQ has a Santander settled and a couple credit cards that were part of the bk that also were removed from ex and TU as being aged off and EQ also feels they can continue to report those things and that's why my score is so much lower.

---

Now it all makes sense.  EQ feels they can report it for 10 years because they can...

Discharged BK 13 stays for 7 years.

Dismissed BK 13 stays for 10.

http://www.myfico.com/crediteducation/questions/negative-items-on-credit-report-chapter-7-13.aspx

Note the "7 years for completed Ch 13 bankruptcies."

You got lucky with EX and TU giving you an early removal.

[Creditaddict]

---

@TRC_WA wrote:

---

@Creditaddict wrote:
TU and ex removed my bk 13 at 7 years and I dismissed it.
My EQ has a Santander settled and a couple credit cards that were part of the bk that also were removed from ex and TU as being aged off and EQ also feels they can continue to report those things and that's why my score is so much lower.

---

Now it all makes sense.  EQ feels they can report it for 10 years because they can...

Discharged BK 13 stays for 7 years.

Dismissed BK 13 stays for 10.

http://www.myfico.com/crediteducation/questions/negative-items-on-credit-report-chapter-7-13.aspx

Note the "7 years for completed Ch 13 bankruptcies."

You got lucky with EX and TU giving you an early removal.

---

I called the court where I originally filed and they wouldn't even say 7 or 10.

however despite rather 10 years for the bk if okay, the accounts are not!

[TRC_WA]

---

@Creditaddict wrote:

---

---

I called the court where I originally filed and they wouldn't even say 7 or 10.

however despite rather 10 years for the bk if okay, the accounts are not!

---

You're right.  The accounts should be gone after 7 years... but the BK can stay for 10.

What a difference discharged vs dismissed makes in your FICO score.  I'm expecting a gain to 686 in a couple weeks when my BECU card reports the payment that knocked my UTIL from 23% to 16%.  I think 700 across the board by the end of the year is very possible... and my discharged 13 doesn't fall off till April 2016.

[Creditaddict]

---

@TRC_WA wrote:

---

@Creditaddict wrote:

---

---

I called the court where I originally filed and they wouldn't even say 7 or 10.

however despite rather 10 years for the bk if okay, the accounts are not!

---

You're right.  The accounts should be gone after 7 years... but the BK can stay for 10.

What a difference discharged vs dismissed makes in your FICO score.  I'm expecting a gain to 686 in a couple weeks when my BECU card reports the payment that knocked my UTIL from 23% to 16%.  I think 700 across the board by the end of the year is very possible... and my discharged 13 doesn't fall off till April 2016.

---

I actually don't think dismissed vs discharged really did much to my credit, if anything might have made it better initially because I was able to start getting credit and settling things 2 years sooner... Why I'm not in 700's across board is because of my baddies last year that are all paid but the huge difference between EQ and others is as I stated the bk and 3 IIB accounts.