NFCU approved CC then changed mind

[DSW89]

This weekend I was approved for a NFCU nRewards mastercard. The limit was set at $1,000 I sent them a message through the message center asking that they reconsider the starting credit limit and they replied that after further review since I am on a debt management program they closed the CC account all together. I am so confused by this. I didn't know this could happen or I would have never asked for an increase. They had already mailed me the CC and everything. Has anyone else had this happen? it's pretty upsetting and our debt management is PIF in January. So bummed out I wasted an inquiry!

[Repo-ed]

Your recon prompted a MR, thus the AA.

Personally, I am not shocked they did this, as I would have done the same. 

[Hightechredneck]

Wow that sucks, I plan on apping there in 6 months.

[webhopper]

---

@DSW89 wrote:

This weekend I was approved for a NFCU nRewards mastercard. The limit was set at $1,000 I sent them a message through the message center asking that they reconsider the starting credit limit and they replied that after further review since I am on a debt management program they closed the CC account all together. I am so confused by this. I didn't know this could happen or I would have never asked for an increase. They had already mailed me the CC and everything. Has anyone else had this happen? it's pretty upsetting and our debt management is PIF in January. So bummed out I wasted an inquiry!

---

You could always ask if you could go with the secured version of the card. ....     I'm sorry to hear this but fortunately  you will soon be in a position where you can get different products. 

Best of Luck!

[LOC]

That is horrible

[distantarray]

that sucks but whille in a debt management program i could 100% understand why they would cut your account.... with a borderline score around 620 I would've been happy to just been approved for a unsecure card. I hope you luck but until your in primeville you shouldn't push for too much, atleast until your debt consolidation was completed. 

Just look at it this way, if you had trouble paying back your friends, who would lend you more money? =\

[Epcot]

Sorry to hear that happened to you.

[trumpet-205]

Well, to any prime lender debt management program is a big no no. Your reconsideration request prompted manual review. Nothing you can do about it.

[improvingmycredit]

Hello!  Under a debt management program, I'd be more concerned that the lenders in the program don't see you are applying for more credit.  I'm pretty sure under the debt management agreement, you aren't supposed to seek new credit or you are in default of the agreement.  This could cause your current lenders on the program to raise their interest rates to the original levels and seek a new agreement.  Be very careful with this until you are out of the debt management plan.

[djc0198765]

I know for sure BOA will termnate there DMP agreement if you get another card, and I am pretty sure they are not the only ones.  I was in a DMP plan for 2 years and earler this year PIF.  Even after you PIF it still takes 2-3 months for all your accounts to report clear and closed and also the "managed under a DMP" lables to be removed.  I would just hold out for a few more months and it will be easer.