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Something is not right- NFCU….

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Janneman
Established Contributor

Something is not right- NFCU….

Recently I got approved for NFCU second card with a credit limit of $1000...So, I received a letter from them about my internal score which is 251 but that shocks me a lot because I have Flagship checking account with them for many years that I use all the time, Saving account for many years...Money market account for so long...Pledge loan for so long... CD for a year...My whole salary is being deposited as DD each week for so long....and have a credit card with a CL of $49k for last 3-4 years...My question is not about why I got so low SL, rather why my score is slow with them when I pretty much have almost everything with them?? Its seemed to me that its a myth when people think or believe that having as many as accounts with them would raises internal score with NFCU...7-8 months ago I got the same internal score with them which made my application for Flagship cc got denied...Something doesn't seem right in this picture....My Fico score is 829 and utilization is less than 1%...

 

In my personal opinion- if you have any account with NFCU and if you don't use that enough then no matter how many accounts you open with NFCU, you would get very low score and limit on second card unless you get your second card within first 6 months of obtaining first card....

Message 1 of 10
9 REPLIES 9
Jnbmom
Community Leader
Super Contributor

Re: Something is not right- NFCU….

I haven't gotten my internal score from them for quite sometime as I have the max for cc cards with them . I personally don't think as I have stated before that the amount of accounts you have with navy makes a big difference . I have 3 cards and CLOC and keep very little in my saving account with them and do DD for 50.00 bucks a paycheck

 

My first card was smaller limit and grew, my second and third cards started out good and I never had multiple accounts with them

 

Navy giving you a second card at 1K means they are  not comfortable with extending more at this time it will grow but will take some time I realize your score is high but that's not only what goes into an approval ..

 

EXP 778 TU790 EQ 752
Message 2 of 10
gingerflower
Valued Contributor

Re: Something is not right- NFCU….

@Janneman 

@Jnbmom 

I agree with @Jnbmom Nfcu can be unpredictable at times. Normally when you get approved for Low starting limit it means right now they are not comfortable with extending more credit. Give it time and I'm sure the limit will grow.

Message 3 of 10
Shooting-For-800
Senior Contributor

Re: Something is not right- NFCU….

Scores mean next to nothing.

I got denied with 333 and $25k with like 313.

They have their ways but they are great over the long haul.

GL!

Rebuild started in 2014  -  $100k unsecured credit in 2017  -  $400k unsecured credit in 2022.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!


Message 4 of 10
sourpuss29
Frequent Contributor

Re: Something is not right- NFCU….

@Janneman 

 

Your internal score aside, the other reasons stated in the letter would have given you an idea as to why they only approved you for $1,000, which is sumthin' I was curious about.

 

As I mentioned in your other thread, I applied for the Platinum card back in Sept and was given the same ridiculously low limit; and even though I immediately requested that the account be closed, the card was still mailed to me. When I received it and looked over the letter, it stated that: (1) my IS was 267; and (2) the reasons for the decision were lack of direct deposit and secured loan.

 

* rollz eyez *

 

So, yeah...the way Navy does things is QUITE odd, indeed; and even though I'm happy I got in, I'm not about to jump through hoops in order for them to deem me as "worthy" of extending additional (decent) amounts of credit to. 

Message 5 of 10
Janneman
Established Contributor

Re: Something is not right- NFCU….


@sourpuss29 wrote:

@Janneman 

 

Your internal score aside, the other reasons stated in the letter would have given you an idea as to why they only approved you for $1,000, which is sumthin' I was curious about.

 

As I mentioned in your other thread, I applied for the Platinum card back in Sept and was given the same ridiculously low limit; and even though I immediately requested that the account be closed, the card was still mailed to me. When I received it and looked over the letter, it stated that: (1) my IS was 267; and (2) the reasons for the decision were lack of direct deposit and secured loan.

 

* rollz eyez *

 

So, yeah...the way Navy does things is QUITE odd, indeed; and even though I'm happy I got in, I'm not about to jump through hoops in order for them to deem me as "worthy" of extending additional (decent) amounts of credit to. 


I got exactly the same reasons that you got, which is why I am so lost because- they mentioned lack of DD and secured loan but I do have both of them for so long....then why they even stated that I am lacking them??????? And why my internal score is so low and did not change a bit in last 8 months even though I increased my activities on my NFCU accounts a lot except on credit card???? As I stated on my other thread that there is NOTHING extra or different I could do now in order to increase my internal score including giving more time because I have already taken all the odds by opening pretty much all the accounts with this union and I think 8 months are not a small time so to say that I should give them more time....

 

I mean, people might not paying attention over here that letter indicates that I am lacking direct deposit and secured loan, but I got both of them. And, I have these two not just recently, rather too long...My Fico score is 829...Very clean profile...don't know any money to any lender except $50 (Azeo method), being with NFCU for many years...Income is good....What am I missing over here??

 

I still have not received the card yet, but I have decided to keep it because I believe next time my limit might not be different...and this card go grow quick...in one and half year I might have their maximum exposure...Besides, I can not ask for any more credit limit increase from them because the limit of my other credit card with them already at maximum. How strange is this- one side they approved me for only $1000 by citing these reasoning, but on the other hand instantly approved me for CLI for $8k on my other card...Now I strongly believe that there is no any concrete datapoint on Navy because nobody knows how this union operates...One could get become CEO right out of high school without any experience as well, but on the other hand we are not even considered for the job despite of doing triple PHD...That's how I feel.

Message 6 of 10
Janneman
Established Contributor

Re: Something is not right- NFCU….


@Shooting-For-800 wrote:

Scores mean next to nothing.

I got denied with 333 and $25k with like 313.

They have their ways but they are great over the long haul.

GL!


How long more they want me to be when I have been with them for many years ????

Message 7 of 10
Janneman
Established Contributor

Re: Something is not right- NFCU….


@gingerflower wrote:

@Janneman 

@Jnbmom 

I agree with @Jnbmom Nfcu can be unpredictable at times. Normally when you get approved for Low starting limit it means right now they are not comfortable with extending more credit. Give it time and I'm sure the limit will grow.


Yeah, limit will grow but with extremely low pace...but I totally agree with you that navy is very unpredictable...

Message 8 of 10
Janneman
Established Contributor

Re: Something is not right- NFCU….


@Jnbmom wrote:

I haven't gotten my internal score from them for quite sometime as I have the max for cc cards with them . I personally don't think as I have stated before that the amount of accounts you have with navy makes a big difference . I have 3 cards and CLOC and keep very little in my saving account with them and do DD for 50.00 bucks a paycheck

 

My first card was smaller limit and grew, my second and third cards started out good and I never had multiple accounts with them

 

Navy giving you a second card at 1K means they are  not comfortable with extending more at this time it will grow but will take some time I realize your score is high but that's not only what goes into an approval ..

 


That I totally agree with you...learned hard way....

Message 9 of 10
sourpuss29
Frequent Contributor

Re: Something is not right- NFCU….

 

@Janneman wrote:

[...]How strange is this- one side they approved me for only $1000 by citing these reasoning, but on the other hand instantly approved me for CLI for $8k on my other card...Now I strongly believe that there is no any concrete datapoint on Navy because nobody knows how this union operates...


That's sumthin' else that doesn't make sense, because it seems to me that if you had reached the max they were willing to give BEFORE requesting the increase, they wouldn't have approved it.

 

Trying to figure out the methodology is pointless; and since you've decided to keep the card, hopefully it'll grow to your satisfaction.

Message 10 of 10
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