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NAVY FEDERAL Shares Why You're DENIED For A Credit INCREASE... 😲[WATCH THIS NOW!] - YouTube
Channel: Designer Soapbox
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Hey Credit Cousins,
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Were you just denied a credit limit increase
on your navy federal credit card and want to
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know why ? If so, keep watching to learn
what navy federal shares with its members.
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But first, let me introduce myself. I'm a Designer
Soapbox and we talk about how to build credit,
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get high limit credit cards,
how to make money online, and so
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much more. If you find this channel of any value,
please subscribe, leave a like, and comment down
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“Hey Credit Cousin”, and I’ll make sure
to say hey back to all my credit cousins.
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So, if you applied for a credit limit
increase with navy federal but was denied.
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You may want to know what was the reason?
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Navy federal shares the most common reasons
for denial listed on their website..
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When you receive your denial
letter from the navy federal
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informing you of the denial, here are
most of the common reasons for why..
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1.If your denial letter say, your
navy federal account is too new:
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Navy federal says that “We like to see at least
three months on -time payments on an existing
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navy federal credit card account before
approving an increase to its credit line. “
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Applying the 91/3 rule is key to this and I
explain in several of my videos about how to apply
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for your next credit cards after 91 days and
navy federal also says wait at least 3 months.
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2. If your denial letter says There
has recently been a change to the
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credit line on this account
This means that We generally
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grant credit line increases on an existing credit
card account no more than once every six months.
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3. If your denial letter says Delinquent past
or present credit obligations with others
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This means Your credit report shows
you’ve paid one or more creditors late.
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4 If your denial letter says Income
insufficient for amount of credit requested
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This means Based on information
provided in your application,
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your current credit line is
appropriate given your stated income.
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5.If your denial letter says
Excessive credit obligations
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This means Your total monthly payment
obligations exceed our debt-to-income standards.a
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So, credit cousins, I hope
this gave you better insight on
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credit limit increase denials. Make sure you leave
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a like on this video & that will help tell me
that you are picking up what I’m putting down!
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& Let me know in the comments if you have
any more questions or if you have any other
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tips so other credit cousins learn more about it.
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This channel is all about learning from
each other. I look forward to your feedback!
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