I applied for a personal loan yesterday, Denied. Check myfico.come today they checked equifax. The bureau known to many for not reporting accurate information and omitting accounts. Needless to say, NFCU, said they dont reconsider. Even though I have documented proof of my CC accounts that have been open OVER 1 YEAR,that they don't show. Documented proof of my complaint I made with the FTC against them. So basically I'm screwed, because of a **bleep**ty organization that clearly isn't abiding by the fair credit reporting act. I'm thinking I won't be utilizing their accounts any.. screw them
Interesting. What do you have that is not reporting? I know for sure a CU I used to be a member of only reported to EQ (just pointing out that not everyone reports to all 3).
What were the denial reasons? Scores?
I can understand being upset.. I think calling NFCU "useless" is a little off though.
Agree with Scupra. NFCU is not useless. Your issue is with Equifax, and also with the credit card companies whose data is not being reported. You need to work with all three of them to get it corrected, even if you have to make the same request several times. Sorry this happened.
The proof has to be the credit report itself, not your own proof that you just have accounts. You need to get the credit report corrected, and since it's been going on more than a year of these accounts not reporting, you should be working on it nonstop.
Any lender can make any decision they choose regarding credit. None of us have a right to a reconsideration or a right to have credit extended, sorry.
how are they able to reconsider people when they call in and provide paystubs etc,. but won't reconsider a personal loan with paystubs and proof of the CC companies reporting every month as they are supposed to?
From your signature you are around 600's and not even two years post d/c.. I don't know if a recon would get you much further.
What you need to do is focus on getting those accounts reporting. NFCU is not the only lender that will have an issue with not being able to review revolving history.
the Bankcard scores are 40+ point difference. they checked TU for my CC, and approved 2 weeks ago
You don't want to hear this but what was mentioned above is in stone mostly.
Whatever you do from here on out, you absolutely positively MUST make any and all efforts to climb up and away from those low numbers.
The good part is that it can be done and requires agonizingly slow "sometimes" effort on your end. Months at the least to be sure.
I been there where my scores just would not elevate fast enough for me and i felt like everyone was passing me up, BUT, it took time to read, read, and re-read again areas of these forums (not approvals) and then make plans.
Layout multiple plans where you can MAYBE realize some progress (use comparisons) and then each jump in score revisit what got you there, and then while you're busy with useage/payments month to month you will reach that one point in time where a better approval just came in for you.
Don't fret over CU's solely, although NFCU is a high limit approver for some, take me for example, all they managed to approve me at was a weak $4K line when i sport multiple $20K limits with extended history and reasonable enough scores.
CU's are a finicky bunch and IMO it's hit and go. Mainstream lenders are far more predictable in how they trend with approvals, limits etc.
PenFed sickened me to the point that i closed them and pulled out of that CU. After that, a mainstream lender instantly approved me for $15K, PenFed's approval was similar to NFCU for me but i plan to stick around and see if they compete or not.
If not, there are always others out there who are always just waiting to welcome your business with open arms and will help you grow to your expectations.
Please don't waste your time getting bogged down over one CU, even if it is NCU or another lender who isn't willing to help your credit get back on track.
Just do your best to raise your scores by whatever method (yes, even SCT cards) and in no time you will be able to distance yourself from negative results and take charge where before you couldn't.
Best of Luck for you going forward