Denied $500 CLOC NFCU

[Anonymous]

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@medicgrrl wrote:
How's your income and employment history look? My son has scores around 700 and was denied also. I think it's due to his short employment history with his current employer.

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I'm self-employed but it's verifiable with 1099s and bank records if they asked. I've been doing the same thing for about 6+ years now, and self-employed in another field for 20.

i never write checks, I only use my debit card or bank transfers. I just want something with them other than a secured card to get my foot in the door, because I just can't spare $500 right now and I already have two secured cards elsewhere. I have a kid in the hospital and I'm staying with him and money's tight for the next few weeks. 

I guess I'll just wait longer and maybe they will suddenly see me like they see other people who get in with low scores. Fingers crossed. 

[peghede]

Over 600 score ,Ok income and not crazy debt you'll get full 15k

[Anonymous]

Just a suggestion based on my own ecperience...and trust me I am no expert, just learning.

The impression I got when exploring options via telphone with them was that the CLOC was way harder to get than a CC and thier Platinum Card had a different credit evaluation model than thier rewards and cash back cards.

My opinion, if you're ground floor looking up and the timing is right on measurables like debt/income ratio, is to open your NFCU door with the basic Platinum card. Also...a conversation on the phone will really help. At least it did in my case. I merely ASKED about the secured card process and at the end of my call I was approved for Platinum @ $3100.

Best of luck to you when you decide the time is right to try again.

[Anonymous]

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@Anonymous wrote:
Just a suggestion based on my own ecperience...and trust me I am no expert, just learning.

The impression I got when exploring options via telphone with them was that the CLOC was way harder to get than a CC and thier Platinum Card had a different credit evaluation model than thier rewards and cash back cards.

@Anonymous opinion, if you're ground floor looking up and the timing is right on measurables like debt/income ratio, is to open your NFCU door with the basic Platinum card. Also...a conversation on the phone will really help. At least it did in my case. I merely ASKED about the secured card process and at the end of my call I was approved for Platinum @ $3100.

Best of luck to you when you decide the time is right to try again.

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No it does not. The only card with different criteria is the Flagship card. 

[UncleB]

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@Anonymous wrote:

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@Anonymous wrote:
Just a suggestion based on my own ecperience...and trust me I am no expert, just learning.

The impression I got when exploring options via telphone with them was that the CLOC was way harder to get than a CC and thier Platinum Card had a different credit evaluation model than thier rewards and cash back cards.

@Anonymous opinion, if you're ground floor looking up and the timing is right on measurables like debt/income ratio, is to open your NFCU door with the basic Platinum card. Also...a conversation on the phone will really help. At least it did in my case. I merely ASKED about the secured card process and at the end of my call I was approved for Platinum @ $3100.

Best of luck to you when you decide the time is right to try again.

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No it does not. The only card with different criteria is the Flagship card. 

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+1

I think that perhaps because Capital One calls their entry-level card 'Platinum' it causes confusion with the NFCU Platinum.

At NFCU, you can freely PC from one card type to another practically at will, they just adjust the APR to reflect the rewards (or lack thereof) on the new card type.  The only card they have that has different underwriting is the Flagship due to the $5k minimum credit line, just as @Anonymous mentions.  That said, as long as you have at least a $5k credit line you can even PC to the Flagship.

If it were 'easier' to get approved for the Platinum, everybody would just apply for it then change over to a Cash Rewards/goRewards, etc.

[Anonymous]

I'm going to work on getting my score up by paying off some balances ASAP and try again when my score is over 600.

[JustBPatient]

All good advice here, I would just throw in maybe opening a checking account.  Show them you arent just there for the credit products.  I know when I joined, I didnt apply for anything BUT I did set up DD for a portion of my check and utilized their banking.  Low and behold 3 months later, emails and mailer about their credit products.  So I went ahead and applied for CR and got 24k out of the gate along with 15k cloc.  Now I dont know if having a checking account meant anything to them but I dont think it hurts.  Good luck and as others have said....its a marathon, not a sprint!!

[Anonymous]

I have a checking account with them and deposited $25 but I haven't moved anything significant over since I have a loooong history with BoA and just got their secured card which I want to graduate and I want to keep my direct deposits going there for now.

[Anonymous]

NFCU pulls Equifax for CLOC.  You have a 528 score on Equifax.  I don't know why you are suprised you weren't approved.  I got turned down with 580 score for CLOC.  I did get approved for a Go Rewards card for 6500 dollars though. . Get your score up close to 600 and apply. for a credit card.  

[mcp3ak]

Is it the Fico Score 8 or the Bankcard Score they pull?