NFCU Appeal Process

[ItnStln]

I recently applied for the NFCU cashRewards Visa card and got declined.  I was told that the reason was for "Proportion of balances to credit limits too high on revolving accts."  This is almost impossible as I have about $11,500 in credit limits and $2,500 in usage.  Percentage wise this is 21.74%, well below the recommended 30%.  I had a bankruptcy in 2012, but NFCU didn't bat an eye in 2013 when they gave me the nRewards MC with a $4,000 limit.  The online message said that I will get a letter stating with the appeal process.  Does anyone by chance know the procedures?  Is it a good idea to use NFCU as my primary bank if I am trying to get a credit card through them?  I have heard mixed reviews on this so that is why I am asking,

[Creditaddict]

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@ItnStln wrote:

I recently applied for the NFCU cashRewards Visa card and got declined.  I was told that the reason was for "Proportion of balances to credit limits too high on revolving accts."  This is almost impossible as I have about $11,500 in credit limits and $2,500 in usage.  Percentage wise this is 21.74%, well below the recommended 30%.  I had a bankruptcy in 2012, but NFCU didn't bat an eye in 2013 when they gave me the nRewards MC with a $4,000 limit.  The online message said that I will get a letter stating with the appeal process.  Does anyone by chance know the procedures?  Is it a good idea to use NFCU as my primary bank if I am trying to get a credit card through them?  I have heard mixed reviews on this so that is why I am asking,

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You can send a secure message and ask that they split off $1k or more of your current card to open the cash rewards.

[ItnStln]

Thanks Creditaddict!  I will give that a shot if the appeal is denied.  I did get my free annual credit report and noticed that some family members' cards keep popping up on my credit report.  Can this negatively impact me?  Also, are they allowed to use my delinquencies that were dischrged in bankruptcy?  I am just trying to get as much information as possible for when I do get my letter from NFCU I can appeal it.  I wasn't wanting to split off my credit limit to get another card as I want to increase my available credit.

[Anonymous]

A couple of things here.

1.  FICO scoring looks not only at overall utilization, but utilization per card and proportion of cards with balances.  So it might be worth asking how that 21.74% is distributed.  One mistake people make is to max out low-CL cards.

2.  If family members' cards pop up, is there some AU angle that is hurting you?

[ItnStln]

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@Anonymous wrote:

A couple of things here.

1.  FICO scoring looks not only at overall utilization, but utilization per card and proportion of cards with balances.  So it might be worth asking how that 21.74% is distributed.  One mistake people make is to max out low-CL cards.

2.  If family members' cards pop up, is there some AU angle that is hurting you?

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All but three cards carry a zero balance.  My NFCU nRewards has a $4,000 limit and a balance of almost $2,200.  I had to purchase some stuff for school.  My Barclays card has a limit of $2,000 and a balance close to $150, and my PayPal Smart Connect has a balance of $85 with a limit of $300.  I always make more than the minimum payment, even on my car.  I used to be an AU on my parents' AMEX cards when I was younger.  prior to my bankruptcy, at my request as I didn't want to harm their credit I was removed as an AU.  The balances are relatively high on those cards.  Is it possible that is what influenced the decision?

[Creditaddict]

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@ItnStln wrote:

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@Anonymous wrote:

A couple of things here.

1.  FICO scoring looks not only at overall utilization, but utilization per card and proportion of cards with balances.  So it might be worth asking how that 21.74% is distributed.  One mistake people make is to max out low-CL cards.

2.  If family members' cards pop up, is there some AU angle that is hurting you?

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All but three cards carry a zero balance.  My NFCU nRewards has a $4,000 limit and a balance of almost $2,200.  I had to purchase some stuff for school.  My Barclays card has a limit of $2,000 and a balance close to $150, and my PayPal Smart Connect has a balance of $85 with a limit of $300.  I always make more than the minimum payment, even on my car.  I used to be an AU on my parents' AMEX cards when I was younger.  prior to my bankruptcy, at my request as I didn't want to harm their credit I was removed as an AU.  The balances are relatively high on those cards.  Is it possible that is what influenced the decision?

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it's being at over 50% maxed on your navy card and seeking more credit from navy... they can be very leinent for some profiles but you say school so income might be smaller?

How long have you had your current Navy card again? you might have an easier time getting a sp cli on current then a new one... but like I said I would move $1k over to new credit card and then in 3 months ask for CLI and hopefully you get a sp bump.

[ItnStln]

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@Creditaddict wrote:

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@ItnStln wrote:

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@Anonymous wrote:

A couple of things here.

1.  FICO scoring looks not only at overall utilization, but utilization per card and proportion of cards with balances.  So it might be worth asking how that 21.74% is distributed.  One mistake people make is to max out low-CL cards.

2.  If family members' cards pop up, is there some AU angle that is hurting you?

---

All but three cards carry a zero balance.  My NFCU nRewards has a $4,000 limit and a balance of almost $2,200.  I had to purchase some stuff for school.  My Barclays card has a limit of $2,000 and a balance close to $150, and my PayPal Smart Connect has a balance of $85 with a limit of $300.  I always make more than the minimum payment, even on my car.  I used to be an AU on my parents' AMEX cards when I was younger.  prior to my bankruptcy, at my request as I didn't want to harm their credit I was removed as an AU.  The balances are relatively high on those cards.  Is it possible that is what influenced the decision?

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it's being at over 50% maxed on your navy card and seeking more credit from navy... they can be very leinent for some profiles but you say school so income might be smaller?

How long have you had your current Navy card again? you might have an easier time getting a sp cli on current then a new one... but like I said I would move $1k over to new credit card and then in 3 months ask for CLI and hopefully you get a sp bump.

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I had a feeling that it was either the 50% with NFCU and/or the AMEX that I was an AU on.  I am in school, but I also work full time, making close to $30,000 (usually more with OT).  I just needed a laptop and books, so I used my card to help build credit.  I got my NFCU nRewards MC a little over a year ago.  I haven't asked for a CLI as I wasn't sure if ir was an SP or HP and didn't want to risk an HP.  Should I ask for a CLI to say $6,500?  How leinent are they with CLIs?  Since my bankruptcy discharge I have never been late on anything, and always make more than the minimum payments.  I am just trying to weigh my options out and see which will be beneficial.

[Creditaddict]

I would read through the thread for NFCU cli process and what you should do when requesting cli with them.
But I would bring your util on that card down to under $1k first

[ItnStln]

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@Creditaddict wrote:
I would read through the thread for NFCU cli process and what you should do when requesting cli with them.
But I would bring your util on that card down to under $1k first

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Would you recommend carrying a balance at all on that card?  Thanks for your good advice, creditaddict.

[Creditaddict]

Never carry credit balances if you can pay off!
If you need to though navy is probably your best bet to carry.
But the goal is pay no interest