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Denied bank loan online NFCU

scratchingandsurviving
Established Member

Denied bank loan online NFCU

I was denied a loan of 3k from NFCU I was wondering if I actually went into a branch would that make a difference. Like a human to human connection I will they just use the same system as their online loan process?

 

my credit is about 580 so I know it will be a difficult loan to pull off I just want to know if I have a better chance if I went to the branch and spoke with someone.

Message 1 of 6
5 REPLIES 5
donkort
Valued Contributor

Re: Denied bank loan online NFCU

I'm going to be honest:

 

I applied for loans when I had upper 600's scores,  I got declined quite a few times after soft pulls.  None of my inquiries showed up on any of my credit reports.

 

They will probably send you a letter stating why your loan was declined.  It will contain FICO-type verbiage.

 

I guess it's worth a try to try to go in person.  Did they do a hard pull before declining you?

 

 

FICO 8: EQ 800; EX 797; TU 793
Message 2 of 6
FireMedic1
Super Contributor

Re: Denied bank loan online NFCU

It comes down to why are you in the 500's range. There must be some baddies affecting you. It takes a lot for them to deny you. Rarely seen on here. Plus you didnt mention what type of loan its for or the amount. With 500's it will be tough to get a loan.





My posts are JMHO. My siggy is not to brag at all. Just sharing my experiences after learning here from rebuild to recovery after BK DC 540's. And to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 3 of 6
scratchingandsurviving
Established Member

Re: Denied bank loan online NFCU


@FireMedic1 wrote:

It comes down to why are you in the 500's range. There must be some baddies affecting you. It takes a lot for them to deny you. Rarely seen on here. Plus you didnt mention what type of loan its for or the amount. With 500's it will be tough to get a loan.


Yeah I want to apply for 1,500. I'm afraid to do it online because I know the automatic system will just boot me. I want to see if it makes a difference if I talk to a live person. It just want a personal loan or installment loan.

Message 4 of 6
Janus
Senior Contributor

Re: Denied bank loan online NFCU

If you're that close to a branch then just go in, sometimes a personal touch can be the differnce. It does help sometimes having a Personal Banker in your corner helping. I don't know if things have changed in the new digital world, and it's ultimately still up to the computer and teh LO is just tehr to push buttons like you could. But it certainly wouldn't hurt to find out.






Message 5 of 6
Revelate
Moderator Emeritus

Re: Denied bank loan online NFCU

The LO has access to internal resources if they make the decision to plead your case.

 

I would suggest even in this digital world where everything is tracked and analyzed going into a branch doesn't hurt and might help.

 

Vis a vis I am remote from my big bank mortgage LO (preferred lender) and there is a ridiculous contingency which I am not going to comply with and I will absolutely find some other lender for this mortgage if it isn't waived.  I would love to be able to walk into his office, put my feet up on his table and tell him to fix it because that would be easiest for everyone.

 

Instead I whined in an email, he's checking, and nothing heard for a week.  Get the UW on the phone and let's just sort this now so we can all get on with our lives rather than waiting till the last minute in what I am expecting is the vain hope that I won't kick them to the curb over it.




        
Message 6 of 6
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