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Keep or Close NFCU Secured?

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Chrisla2077
Established Contributor

Keep or Close NFCU Secured?

I recently (March) apped and was approved for a secured card through NFCU for a $500 deposit from my savings. At the same time, I received 2 unsecured cards from Cap1 both for $500. Question is....should I  keep the NFCU secured. I'm rebuilding..thinking that a relationship with NFCU would be good, however, I'd like the $500 they are using to go toward some other expenses. Is the card beneficial to keep since I have 2 unsecured ones? Would closing it now be hurtful toward my credit at this point? What should I do.

Message 1 of 4
3 REPLIES 3
jamesdwi
Valued Contributor

Re: Keep or Close NFCU Secured?

Keep the NFCU card open, NFCU will treat you better over time than the other secured cards you have.  

 

 

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Message 2 of 4
Chrisla2077
Established Contributor

Re: Keep or Close NFCU Secured?

I thought that was probably the case. I'm now wondering how long it takes them to qualify you for an unsecured

Message 3 of 4
PokemonMaster
Frequent Contributor

Re: Keep or Close NFCU Secured?


@Chrisla2077 wrote:

I thought that was probably the case. I'm now wondering how long it takes them to qualify you for an unsecured


NFCU will automatically consider the card for graduation on your 1 year anniversary of when you opened the card. NFCU also has a higher potential to grow overall. Capital One on the other hand is good for one card (due to no FTFs) as long as it has no annual fee. I personally wouldn't carry more than one Capital One credit card product on my portfolio.

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