NFCU CLOC approval after instant denial!

[Anonymous]

I am so happy to report that I was just approved for a CLOC with Navy Federal! I asked for 15k and received an instant denial. Then after reading in these boards I applied again about an hour later asking for only $4,000. This time it went to a page asking me to sign a disclosure, then said it would be reviewed within about an hour. A little over an hour later I received a text message and an email, saying I was approved for the $4,000 and to sign into my account to eSign the document!

I guess they didn’t like the 15k amount. I wasn’t surprised since I’ve been rebuilding and getting medical collections removed on my reports... then I just had a new 20k collection report YESTERDAY so my score tanked to low 600s.

I joined navy in August. Got a CR card for $1000 in September. I have 2 checking and one savings account with them. And I also have direct deposit of my paycheck so not sure if any of this helped.

My 91/3 with the CR card is just a week away so I am not sure if I should go ahead and apply for a CLI and second card or let it wait. I know people here say to wait til after next AR to have better odds of a soft pull on the CLI but that is no guarantee either so I haven’t decided yet.

I love Navy.. even if they didn’t want to give me 15k ❤️

Only one hard pull on equifax was done for both CLOC apps today. By the way, they denied me for cloc in September with recon

[Anonymous]

Congratulations! Navy is pretty spectacular! 

[19eighty5]

Congratulations on your approval!

[RonM21]

Congrats on the approval and not giving in! That is a hard hit to take on the 20K collection dropping in. I hope you'll be able to keep making progress getting these collections taken care of. Obviously they are holding you back a bit.

[Medic981]

I keep saying it, Gotta Love NFCU! Go Navy! Congrats!

[Anonymous]

Yeah I wanted to cry yesterday when that hit. All of my collections have been medical from being hospitalized the last few years with no insurance. I was waiting for the last one to come off my reports next week and was hoping to see my scores jump 100 points or so and finally be in the 700s. Instead my scores dropped around 50 points. I probably should have waited on the cloc but I needed a hug from navy ⚓️

[Anonymous]

Congratulations on the CLOC!!! I'ts a great account to have in the back pocket. 👌🏾

I am using my $15k CLOC soley for UTIL cushion, and it's really a nice safety blanket.

Now, this $20k BADDIE will surely tank your ability to obtain a CLI on it, or anything else, so it might be a good time to roll into the garden and stay put 😏

[Anonymous]

Well done! Congratulations!

[Anonymous]

I thought that when you apply for the CLOC, I "think" that I read you should always ask for the $15k and if not approved, they will counter.  That didn't happen here as you reapplied for a lower amount after a denial.  Do I assume it wasn't another HP?  Someone here please correct me.

[Anonymous]

I did apply for the full 15k but it was an instant denial within seconds and one hard pull on Equifax with no counter offer.

I then applied about an hour later only asking for 4K and it went to review with no additional hard pull.