NFCU CLI recon?

[Anonymous]

So I finally got my hands on the letter stating the reasons for my CLI request denial from NFCU.

The reasons were:

• Excessive credit obligations
• Limited credit experience

Okay, so yeah, the second isn't too far fetched - my oldest two cards are from last December (12 months).

But excessive credit obligations? My total credit lines are 11-12% of my income, and most of them didn't carry a balance at that time (except for something like $12 on a few accounts). I really don'ts see how that's "excessive". I don't have any debt other than credit cards, so it's not coming from anything else either.

Has anyone had any luck trying to recon their CLI decision? Any if so, how? Did you send a letter to the address they provided in the letter?

I'm really not understanding what their problem is, so I'm starting to take it personally. They throw huge credit lines at other people but refuse to give me more than $1.5k.

[Creditaddict]

What is your EQ score from them? or did they pull TU?

[bichonmom]

Hopefully you'll get some responses from others who have been successful. I'm in the same boat as you! Don't understand their logic when it came to my CL of $2k when others are getting over $10k.

Have you tried calling and asking about the letter? I don't think they'll actually let you talk w/underwriting. But maybe someone can explain to you how your 12% is excessive. And find out what would *not* be excessive.

What they told me was that they use algorithms so there is no discrimination. Hmm.

How long have you had your NFCU card? About how much do you run through it in a month? Do you always PIF, or do you carry a balance? I'm trying to use it for all my expenses (for the 1% rewards), and then make pmts throughout the month. I'm hoping that they'll see I'm responsible and a good payer and give me a CLI in 6 months. With what you're going through, I'm not feeling very optimistic.

[Uncle_Money]

You shouldn't take it personally. Different factors play a part in the credit granting process and they definitely saw something they didn't like.

I have a $25K limit on my Platinum Visa w/ NFCU. However, I had to submit 2 years worth of tax returns and all kinds of identification to get this limit when I applied earlier this year. My EQ report was also spotless at the time I applied. Did they ask you to submit tax returns when you were approved for the account?

Send a recon letter. You have nothing at all to lose and a credit increase to gain.

UM

[Anonymous]

How long have you had your navy federal card and what is your annual income?

[Anonymous]

Lets see if I can answer all questions in one post.

They pulled TU, not EQ. They gave me a FAKO score on the letter - don't have it handy right now so I don't remember what it is. It was lower than my FICO score, that I do know.

Haven't tried calling and asking about it, when I asked before they told me I had to wait for the letter to arrive to explain the reasons. I don't think they're going to let me speak to anyone at the underwriting department anyway - that's why I was wondering if anyone else had experience trying to recon a CLI denial.

Had the card for about 4-5 months now. Put about $8k total through it so far, I've been paying the balance down several times a month. That's the card I've been trying to leave a small balance on, so it's not PIF. But, for example, last month it reported $48, which is about 3% util.

They didn't ask for tax returns, but I did have to submit a copy of my license and social security card. Other than inquiries, my TU report is clean, no baddes on it (or on any other reports for that matter).

My annual income this year is $53k, I think I put down $50k on the application. I realize I'm not rolling around in money like the people with 6-figure paychecks, but I feel that the 1.5k limit is pretty low all things considered. My wife (who joined NFCU at the same time as me) has a lower income than me, has a few late payments on her reports, and they gave her a 3.5k limit. Lower income, minor baddies on report, and over 2x the CL? Go figure.

[Anonymous]

NFCU can and will be very generous once they are a little more comfortable with you. I would suggest that you just work within their suggestions at the moment and let your credit profile strengthen a little more. With your only accounts barely a year old and less than 6 months on your NFCU account they are still going to be a little leery at the moment.

Wait until your NFCU account is a year old and you will probably see a reasonably good auto CLI. Or give your NFCU account a few more months and apply for a second credit card with them. They will probably issue a second card at least equal in terms to your first, which is like doubling your credit line. When your profile is new or thin, patience is a virtue.

[bichonmom]

---

@Anonymous wrote:

NFCU can and will be very generous once they are a little more comfortable with you. I would suggest that you just work within their suggestions at the moment and let your credit profile strengthen a little more. With your only accounts barely a year old and less than 6 months on your NFCU account they are still going to be a little leery at the moment.

Wait until your NFCU account is a year old and you will probably see a reasonably good auto CLI. Or give your NFCU account a few more months and apply for a second credit card with them. They will probably issue a second card at least equal in terms to your first, which is like doubling your credit line. When your profile is new or thin, patience is a virtue.

---

Curious as to why you'd recommend this. It will lower the AAoA. And they will know there is already a CC w/a certain CL on it. Also, I believe I've read here that NFCU limits you to 2 CCs. IMO apping for a 2nd CC w/them isn't the answer.

@Anonymous, Since you're not PIF, I'd try that. It could be some part of their weird algorithm that you're carrying a balance. I don't know. But since carrying a small balance hasn't helped you, I'd try PIFing every month. I'd think 6 mos is a good time-frame to ask for a CLI. That is what they and another CU told me. If you jumped the gun before 6 mos., then I might try again @ 6 mos. Otherwise, maybe wait until 9 mos. The downside is that they do a HP w/the CLI request, though.

Weird comparison w/your wife's CC. I can feel your pain. It *does* feel personal!

[Anonymous]

---

@bichonmom wrote:

Weird comparison w/your wife's CC. I can feel your pain. It *does* feel personal!

---

Exactly. Every time I read another thread about "I JUST JOINED NFCU AND THEY GAVE ME A $10K CARD!" and the person has lower scores than me, I can't help but wonder what exactly it is that they have against me. I'm gonna wait until a handful of inquiries drop off (well, stop counting towards my score) on EX and apply for a Citi card in January. As generous as NFCU has been to other people, they've really given me nothing but the middle finger this whole time.

[Anonymous]

Scores aren't everything with navy federal. For example they favor history so basically someone who has 5 years of credit history with a few baddies is more than likely to get a higher limit vs someone with little history and a better score. I would wait until my 12th statement then try again. How is your income to debt ratio? How long have you been with your current employer? Sorry for the questions but they reviewed this with me when I reconed an unsecured card with them