Hi all and thanks for reading.
I'm a new member but have been a silent reader for quite a while now. I'm interested in applying for a navy federal credit card and would like to get an idea of what my approval odds are. I joined Navy last week 09/11/20. I applied for an auto loan refinance the next day (9/12/20) and was denied on the spot. They said the reason for denial would be in the letter they mail to me. I have relatively good scores; Eq FICO:718; TransUnion Fico: 751, Experian Fico: 710. 4 30 days late CC payments (1 in december 2017 and 3 in January 2019). Income of $93.6k and DTI just below 10%. $2k in revolving credit with Utili of %9.4 (don't really use credit that much). When I applied, both my savings and checking with Navy showed a $0 balance and I had not set up my direct deposit yet. I have since set up direct deposit for 75% of my paycheck and the first one will be deposited tomorrow 09/18/2020.
I called today to speak with a CSR since I have yet to receive the letter. I was told the app was denied due to information in my credit report. I'm not sure what Navy saw that was such a red flag to their own standars because I was able to refi with my other CU (Apple) at 2.94% which is their top tier and was also offered a CC with SL of 3k with the same pull. So I'm curious to know why the same credit report (Transunion was pulled by both Navy and Apple) that got me a top tier rate at Apple, also got me denied at Navy.
Anyway, I hear a lot of good things about Navy and would like to build a relationship with them for my future borrowing needs. I would like to use them when buying a house in a couple of years. I'm thinking about applying for one their credit cards and see if I can get approved. However, I'm not sure if it's such a good idea since I was just refused an auto refi less than a week ago and still waiting to know why exactly.
Any feedback would be greatly appreciated. I look forward to being a member of this community and contributing when I can.
