NFCU Line of Credit Application

[Anonymous]

I am not sure this is the right place for this post as it is not a credit card application, so I aologize if I posted incorrectly.

Yesterday I logged into my NFCU account & saw the 'Apply for Checking Line of Credit' link & finally decided to click on it.

I then completed the Overdraft Line of Credit Application and received the following response:

Your application is under review.
• Typically, a decision is made in less than 1 hour.
• You will be contacted shortly.
• In most cases, contact will be made via email or text.

That was yesterday around lunch. Today, I logged in and selected 'Check Status of Pending Loan Application' and the status still shows "Review in Process".

I take it that's not a good sign. I have received no email or anything about the application. 

[baller4life]

Give them a call. They can tell you exactly what's going on.

[Creditaddict]

More than likely they will want 2 paystubs or something.

[gibeon]

I was approved last month, but my app said, "Review in Process" for about 10 days while I waited for the Note to come in the mail, then faxed it back to them, then waited a few more days.

You could always call in and ask abou it, if I were you!

[Anonymous]

You probably need to wait until Monday as I am sure their loan department was closed Friday. You will probably get a text monday morning.

[NP27]

They were probably closed yesterday and most definately closed today.  My CC said under review for almost a week.  I called to let them know and minutes later it was approved and on its way.  So, I think you will hear something Monday or Tuesday.  Good Luck!

[ChistineNJ]

i app about 2weeks ago, and mine said the same if you put in a cell phone number or email they will text/email you when your approved but the status may say under review. after being approved mine no longer said congrats your credit limit is____. i called and a rep told me for what amount. hope this helps good luck

[Anonymous]

I recieved my letter last Friday.

"RE: OVERDRAFT LINE OF CREDIT

Date: July 3, 2015

Thank you for the recent request for credit. After careful review and consideration we are unable to approve your request for the following reasons:
INCOME INSUFFICIENT FOR AMOUNT OF CREDIT REQUESTED
DELINQUENT PAST OR PRESENT CREDIT OBLIGATIONS WITH OTHERS"

.....(then included info on getting free copy of report).....

"We also obtained your credit score from this consumer reporting agency and used it in making our credit decision . Your credit score is a number that reflects
the information in your consumer report. Your credit score can change, depending on how the information in your consumer report changes .
Your credit score: 608
Date : 07/02/15
Scores range from a low of 334 to a high of 818
Key factors that adversely affected your credit score:
38-SERIOUS DELINQUENCY AND DEROGATORY PUBLIC RECORD OR COLLECTION FILED
18-NUMBER OF ACCOUNTS WITH DELINQUENCY
13-TIME SINCE DELINQUENCY IS TOO RECENT OR UNKNOWN
20-LENGTH OF TIME SINCE DEROGATORY PUBLIC RECORD/COLLECTION IS TOO SHORT
NUMBER OF RECENT INQUIRIES ON CONSUMER REPORT"

I was not offered a lower amount of line of credit or anything, just totally denied. 

I find this kind of strange since I was just approved for a $5,000 credit limit goRewards Visa, but....

just wanted to update you all

[Anonymous]

You could definitely try a recon.  I had the exact opposite happen with NFCU.  I applied for both the Navcheck and the goRewards card in November 2014.  The Navcheck was approved for $6000 but the credit card was declined.  I sent them a secure message asking them to recon the credit card (with an albeit rather lengthy explanation of what was wrong with my credit and my journey recentely to improve it).  They sent a secure message back saying they reversed their original decision and approved the goRewards for $500 (it's now upto $14,000)

It definitely couldn't hurt.  As a lot of people on the forums like to say, you've spent the hard pull already, might as well fight for it to be approved!

Oz

[Anonymous]

What is NFCU?