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NFCU CLOC denial.. need inputs

Regular Contributor

NFCU CLOC denial.. need inputs

I was approved for cash rewards card for 4,500. I applied for CLOC and during that time my TU score is 681. Today I got a letter of denial withreason 'lack of credit experience'

Should I ask for recon? Below are the data points. I was hoping to apply for business products as well. Not sure if it's wise now.

Oldest account Bank of America cash rewards: 2years -4,500
Amex BCE: 10,000 opened in feb 2017
Capital one business classic: 2000 opened in feb 2017
Secure loan from Wells Fargo : 5000 opened in March 2017
NFCU cash rewards: 4500 opened in April 2017
Message 1 of 14
13 REPLIES
Senior Contributor

Re: NFCU CLOC denial.. need inputs

I would wait until your cc with them ages atleast 6 mths , you have a pretty thin file , which most of that consist of being opened in the last mth or two . Definitely give it a bit of time and they will grow with you
Message 2 of 14
Senior Contributor

Re: NFCU CLOC denial.. need inputs

Also as for the business side I have read a lot about their UW is a lot harder to crack than the personal side so I would most definitely hold off on that idea
Message 3 of 14
Regular Contributor

Re: NFCU CLOC denial.. need inputs

I just spoke to the CSR. She suggested if I apply for lower limit, it may get approved. She took my details and applied over phone and app went for review. Will keep you guys posted about the decision.
Message 4 of 14
Regular Contributor

Re: NFCU CLOC denial.. need inputs

I would say you need to wait till 3 statements are cut on your NFCU CC at the minimum, perferrably 6 statements before ypou app for more credit products from NFCU. As far as their bussiness products I am not sure, I have never dealt with them.

FICO 8 Scores 02/21/2017 EQ 593, TU 584 EX 602 -- 06/21/2017 - EQ 632, TU 652, EX 656
Message 5 of 14
Established Contributor

Re: NFCU CLOC denial.. need inputs

Navy says in their rules you must wait 90 days with nothing negative on your accounts before they will even consider the CLOC.

 

EQ 669, TU 679, EX 679. Navy Signature Go Rewards 15K, Navy Signature Cash Rewards 16K, Navy AX Rewards 14.4K, Navy CLOC 15K, Navy Mortgage 120K, Navy ATV Loan 14,990K, FLCU Auto 48.7K, FLCU Visa 7.5K, FLCU Visa 1K, AFCU 5K, AFCU Line of Credit 4K, John Deere 15K, Suncoast TB Rays Cash Rewards 6K, Cap1 QS 5K, USAA Rate Advantage 5K, USAA AX Card 9K, State Farm Rewards 2.5K, Paypal Credit 2.8K, Cabela's 2K, Chevron & Texaco Visa 6K, BMO Harris Bank 1.5K, BOA Bass Pro 1.5K, 5/3 Stand up to cancer 4.5K, 5/3 Truly Simple 4K, 5/3 Trio 4K, Amazon Store Card 5K, Lowes 17K, TBFCU 5K, BBT Spectrum 4.5K, BBT Bright 3.5K, BBT Bright 4.5K, Banco Do Brasil Americas 4.2K, Kays Jewerly 2K, AX Green Charge, AX Delta Gold 1K, Morgan Auto Group 1.6K, Kohls 700.
Message 6 of 14
Established Contributor

Re: NFCU CLOC denial.. need inputs

Nothing negative on your Navy accounts that is.  Plus, If you don't have a checking account with them it would be wise to get one before applying for the CLOC again. 

EQ 669, TU 679, EX 679. Navy Signature Go Rewards 15K, Navy Signature Cash Rewards 16K, Navy AX Rewards 14.4K, Navy CLOC 15K, Navy Mortgage 120K, Navy ATV Loan 14,990K, FLCU Auto 48.7K, FLCU Visa 7.5K, FLCU Visa 1K, AFCU 5K, AFCU Line of Credit 4K, John Deere 15K, Suncoast TB Rays Cash Rewards 6K, Cap1 QS 5K, USAA Rate Advantage 5K, USAA AX Card 9K, State Farm Rewards 2.5K, Paypal Credit 2.8K, Cabela's 2K, Chevron & Texaco Visa 6K, BMO Harris Bank 1.5K, BOA Bass Pro 1.5K, 5/3 Stand up to cancer 4.5K, 5/3 Truly Simple 4K, 5/3 Trio 4K, Amazon Store Card 5K, Lowes 17K, TBFCU 5K, BBT Spectrum 4.5K, BBT Bright 3.5K, BBT Bright 4.5K, Banco Do Brasil Americas 4.2K, Kays Jewerly 2K, AX Green Charge, AX Delta Gold 1K, Morgan Auto Group 1.6K, Kohls 700.
Message 7 of 14
Regular Contributor

Re: NFCU CLOC denial.. need inputs

I already have checking, savings and cash rewards credit card. Hoping that they will reconsider the decision for 7.5k
Message 8 of 14
Established Contributor

Re: NFCU CLOC denial.. need inputs

O ok.. It's possible but again their rules state no overdraft protection for 90 days. Maybe they will recon for you tho. 

 

EQ 669, TU 679, EX 679. Navy Signature Go Rewards 15K, Navy Signature Cash Rewards 16K, Navy AX Rewards 14.4K, Navy CLOC 15K, Navy Mortgage 120K, Navy ATV Loan 14,990K, FLCU Auto 48.7K, FLCU Visa 7.5K, FLCU Visa 1K, AFCU 5K, AFCU Line of Credit 4K, John Deere 15K, Suncoast TB Rays Cash Rewards 6K, Cap1 QS 5K, USAA Rate Advantage 5K, USAA AX Card 9K, State Farm Rewards 2.5K, Paypal Credit 2.8K, Cabela's 2K, Chevron & Texaco Visa 6K, BMO Harris Bank 1.5K, BOA Bass Pro 1.5K, 5/3 Stand up to cancer 4.5K, 5/3 Truly Simple 4K, 5/3 Trio 4K, Amazon Store Card 5K, Lowes 17K, TBFCU 5K, BBT Spectrum 4.5K, BBT Bright 3.5K, BBT Bright 4.5K, Banco Do Brasil Americas 4.2K, Kays Jewerly 2K, AX Green Charge, AX Delta Gold 1K, Morgan Auto Group 1.6K, Kohls 700.
Message 9 of 14
Regular Contributor

Re: NFCU CLOC denial.. need inputs

I am not to sure how much they enforce that rule. I was granted one around 30 days after becoming a member and opening a checking account.
FICO 8 Scores 02/21/2017 EQ 593, TU 584 EX 602 -- 06/21/2017 - EQ 632, TU 652, EX 656
Message 10 of 14