NFCU Secured CC - Was I Accepted?

[PokemonMaster]

I have no credit score whatsoever except for a collections account that isn't even mine and is currently being disputed through TransUnion. I applied early Friday morning and opted for the minimum 500 dollar credit line. I called Saturday night and was told they needed more time to process my application and to wait 3-5 days. I log on today (Sunday morning) to check my accounts and my savings account balance has changed. It now says my current balance is 1037 and my available balance is 502 whereas before it stated my current balance was 1037 and my available balance was 1032 so I can't picture them placing a hold on the money and not approving me. So the question I ask is this. Am I right? Was I accepted?

I am 21 and a college student and this will be my first credit card and my first thing credit related (never had a loan or anything). Also, should I be doing anything else to build credit? Such as another secured card through Capital One or just use the one secured card and let that one slowly build up my nonexistant credit score.

[Anonymous]

Hi, if you haven't called Navy Fed by now to confirm, that's where I would start, since there customer service is available 24/7. More than likely they did approve you because secured cards are relatively easy to obtain as long as you have the funds available and the financial institution can verify your identity. In this case you bank with Navy Fed so that"s a Go!!!!!!.

Now as for getting a secured card with CAP1, I actually have a secured card through them, but rather than open another revolving account with your funds.  I would suggest opening and secured loan as well with Navy Federal. This will give you diversity on your credit report showing that you have a REVOLVING ACCOUNT and an INSTALLMENT ACCOUNT. Also that will save you from getting another INQUIRE on your credit report. Since Navy Fed already pulled your credit report for the secured card in most cases, if you apply for the secured loan within 30 days(some banks 60) they can use the same credit report information and that would save you a DING!!!!!

I am not an expert but I am speaking from experience, I have been building credit since Sep, 2010 and following the same steps, I was able to get a loan and a new credit card with a high CL just this week. Just keep you balances low or pay in full if you can (on your credit card) and make your monthly payments on your secured loan(if you decide to get one) on time. GOOD LUCK!!!!!!!