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Closing Cap1 secured?

Valued Contributor

Re: Closing Cap1 secured?

From other stories I have read so far, your wife's parents would not have to join. But your wife would. It would be best for her to call NFCU and let them know that her mom is retired army and I would even let them know her dad is currently a reservist. Once she joins, then you would be able to join afterwards. NFCU offers secured cards to all of their members. My younger bro has fugly credit and has a secured with them. I was approved for a unsecured card of 5K instantly with them with an EQ of around 664, so you don't need a 700+ score for a high limit card with them. NFCU is known for being a generous lender, and are known to work with ppl with bumps in their credit,  so I think it will be well worth it if you can convince your wife to call them and join.

CH7 Discharged: 4-14-16
Rebuilding in Progress.....
May 2016 - EX: 594, TU: 582, EQ: 619
July 2016 - EX: 629, TU: 600, EQ: 622
Message 11 of 16
Established Contributor

Re: Closing Cap1 secured?

That's good to know! She's flying back from visiting family tonight, so I'll give her a few days before pestering her about it.

And I don't know how I missed that secured card, but there it is - nRewards Secured. Looks like it's got a pretty low APR too, so I'll definitely give it a try! Any idea if their secured cards graduate?

EQ 679 FICO (02/24/2012)
TU 721 FICO (03/10/2012)
EX 703 FICO (05/05/2012)

Cards: NFCU cashRewards $14k, NFCU Platinum $14k, USAA Amex $7k, Amazon Visa $3k, Chase Freedom $2.5k, Amex Zync NPSL, Discover More $1k, Amazon Store $1.3k, Walmart Store $700
Message 12 of 16
Valued Contributor

Re: Closing Cap1 secured?


AndyK wrote:

That's good to know! She's flying back from visiting family tonight, so I'll give her a few days before pestering her about it.

And I don't know how I missed that secured card, but there it is - nRewards Secured. Looks like it's got a pretty low APR too, so I'll definitely give it a try! Any idea if their secured cards graduate?


There has been mixed reviews where some say yes it does unsecure and some say no, it does not. I have seen more reviews where it does unsecure though. Also, when he received his secured card, the expiration date on the card was for one year. Which leads me to believe that they will review his account probably around the 11th month and either unsecure him or renew his secured card after a year. I'm hoping they unsecure the card for him. Good luck and keep us updated!

 

EDIT: Forgot to say, $0 AF on their secured card AND you get rewards points?  Some awesomeness right there.

CH7 Discharged: 4-14-16
Rebuilding in Progress.....
May 2016 - EX: 594, TU: 582, EQ: 619
July 2016 - EX: 629, TU: 600, EQ: 622
Message 13 of 16
Established Contributor

Re: Closing Cap1 secured?

I just called them to ask about eligibility, and they said that my wife's mother and/or step-dad would have to become members first before she could join. Kind of a bummer, since I can almost guarantee they have no interest in joining yet another bank/CU. On the website it says they'd have to be a member or "eligible for membership", but I don't know if that eligibility means they'd have to join first before my wife could join. So I'm not sure which one's right.

EQ 679 FICO (02/24/2012)
TU 721 FICO (03/10/2012)
EX 703 FICO (05/05/2012)

Cards: NFCU cashRewards $14k, NFCU Platinum $14k, USAA Amex $7k, Amazon Visa $3k, Chase Freedom $2.5k, Amex Zync NPSL, Discover More $1k, Amazon Store $1.3k, Walmart Store $700
Message 14 of 16
Valued Contributor

Re: Closing Cap1 secured?

Hmm, I would try back again or have your wife call. I have read a good number of NFCU threads where a person's grandfather was retired military and has past away and that person was still able to join. There is some sort of form NFCU may ask for you to prove all of this though, and even if they dont ask for it right away, they do review accounts and may ask for it later on. I know you might have to jump through hoops to get in, but I think you will be very happy with NFCU if you are able to join. I would also say that if your wife calls in and gets a different CSR, she may get a different answer.

CH7 Discharged: 4-14-16
Rebuilding in Progress.....
May 2016 - EX: 594, TU: 582, EQ: 619
July 2016 - EX: 629, TU: 600, EQ: 622
Message 15 of 16
Highlighted
Established Contributor

Re: Closing Cap1 secured?

I called again Thursday and the second rep I spoke to said it wasn't a problem. So my wife called a few hours later and joined, and they didn't really didn't make a big deal out of it, they immediately gave her her access code and all that. So I called about an hour later to ask when I can join, and they told me I could join immediately. So I did, but I got stuck in the 3-5 business day verification process. The CSR said there shouldn't be a problem since I'm eligible to join now, they might just need me to send in some proof of identity/address, so I should her back around Tue-Thu next week.

So, thanks for the advice! Except for the initial rather clueless-sounding customer service rep I had to deal with, the other 3 people have been outstandingly helpful and easy to work with. And NFCU's cards look really good as far as terms/lack of AF/etc go.

One thing I'm wondering, if you apply for an unsecured card from them and they deny you, do they let you apply for a secured card with the same app? I'd rather not take too many hits for inquiries. And I do have two unsecured cards so I'd almost rather apply for an unsecured one first and try my luck, but I don't feel like racking up a masive amount of inquiries all of a sudden if I get denied for the unsecured and then take another inquiry or inquiries for the secured card.

Edit: Too early to be posting, typos everywhere.

EQ 679 FICO (02/24/2012)
TU 721 FICO (03/10/2012)
EX 703 FICO (05/05/2012)

Cards: NFCU cashRewards $14k, NFCU Platinum $14k, USAA Amex $7k, Amazon Visa $3k, Chase Freedom $2.5k, Amex Zync NPSL, Discover More $1k, Amazon Store $1.3k, Walmart Store $700
Message 16 of 16