topic Re: Navy Federal nrewards secured graduation in Credit Cards

Navy Federal nrewards secured graduation

toddc — Fri, 16 Jul 2021 19:26:04 GMT

Looks like my secured navy card is graduating today, exactly 2 days after my 6th statement cut (on 7/14) happened to login early this am and saw my credit shows $200 of $2,000 available. I've received no communication regarding the card graduating and I didn't get the CL increase at 3 months that some see. But I did get approved platinum card with a CL of $7.5k at 3 months. I also recently applied for a motorcycle loan with them and was given preapproval on almost 11k.

Some datapoints, I don't bank with them or do direct deposit currently. I opened my accounts back in December 2020, checking/savings/money market. Around 3 month mark I threw 5k in the money market account and have let it sit (no withdrawls or transfers) and they seem to like that. My credit scores are hovering around 650... on the communication I got for my loan pre-approval it said my score was around 675.

So I must be in their good graces. I'm coming up on my 90 days in the next couple weeks of my platinum approval, and looking to app for my next card still not sure which one it will be. I already have amexes and barely use them (because they're not accepted everywhere), I am thinking about the flagship just for the year of amazon prime and bonus points, but not crazy about another annual fee.

Re: Navy Federal nrewards secured graduation

M_Smart007 — Fri, 16 Jul 2021 20:18:28 GMT

@toddc, Congratulations on all your NFCU success

Re: Navy Federal nrewards secured graduation

Anonymous — Sat, 17 Jul 2021 02:17:49 GMT

Congratulations! Do you have any baddies on your credit report?

Re: Navy Federal nrewards secured graduation

Total80sKid — Sat, 17 Jul 2021 08:51:14 GMT

Congrats on your nRewards graduation! 🥳

Re: Navy Federal nrewards secured graduation

Mr_Mojo_Risin — Sat, 17 Jul 2021 23:56:18 GMT

@toddc wrote:
Looks like my secured navy card is graduating today, exactly 2 days after my 6th statement cut (on 7/14) happened to login early this am and saw my credit shows $200 of $2,000 available. I've received no communication regarding the card graduating and I didn't get the CL increase at 3 months that some see. But I did get approved platinum card with a CL of $7.5k at 3 months. I also recently applied for a motorcycle loan with them and was given preapproval on almost 11k.

Some datapoints, I don't bank with them or do direct deposit currently. I opened my accounts back in December 2020, checking/savings/money market. Around 3 month mark I threw 5k in the money market account and have let it sit (no withdrawls or transfers) and they seem to like that. My credit scores are hovering around 650... on the communication I got for my loan pre-approval it said my score was around 675.

So I must be in their good graces. I'm coming up on my 90 days in the next couple weeks of my platinum approval, and looking to app for my next card still not sure which one it will be. I already have amexes and barely use them (because they're not accepted everywhere), I am thinking about the flagship just for the year of amazon prime and bonus points, but not crazy about another annual fee.

That's some sweet news, sounds like things are going well with Navy.

Congratulations on all of your Navy success!

Re: Navy Federal nrewards secured graduation

toddc — Sun, 18 Jul 2021 00:08:00 GMT

@Anonymous wrote:
Congratulations! Do you have any baddies on your credit report?

I have 4 collections one of them almost at the 2 year mark the others are older.

Re: Navy Federal nrewards secured graduation

toddc — Sun, 18 Jul 2021 00:09:17 GMT

@Mr_Mojo_Risin wrote:
@toddc wrote:
Looks like my secured navy card is graduating today, exactly 2 days after my 6th statement cut (on 7/14) happened to login early this am and saw my credit shows $200 of $2,000 available. I've received no communication regarding the card graduating and I didn't get the CL increase at 3 months that some see. But I did get approved platinum card with a CL of $7.5k at 3 months. I also recently applied for a motorcycle loan with them and was given preapproval on almost 11k.

Some datapoints, I don't bank with them or do direct deposit currently. I opened my accounts back in December 2020, checking/savings/money market. Around 3 month mark I threw 5k in the money market account and have let it sit (no withdrawls or transfers) and they seem to like that. My credit scores are hovering around 650... on the communication I got for my loan pre-approval it said my score was around 675.

So I must be in their good graces. I'm coming up on my 90 days in the next couple weeks of my platinum approval, and looking to app for my next card still not sure which one it will be. I already have amexes and barely use them (because they're not accepted everywhere), I am thinking about the flagship just for the year of amazon prime and bonus points, but not crazy about another annual fee.
That's some sweet news, sounds like things are going well with Navy.
Congratulations on all of your Navy success!

Thank you. Hopefully my signature looks like yours someday with a 28k navy credit card sl and my 2k discover (which I have and they absolutely refuse to raise my sl)

Re: Navy Federal nrewards secured graduation

Anonymous — Sun, 18 Jul 2021 10:50:44 GMT

Sounds like you're doing great with Navy so far Renember that for the CLI it's 91 days AND three full statements. Check your statements and make sure the first one is at least 25 days or it'll be considered a partial and won't count, and you'll need to wait an extra statement period.

Also remember that Flagship has more stringent underwriting than the others. The SUB is sweet for sure, but consider your DTI and obligations with them as of now and make your decision. If an app for FS doesn't go through, cashRewards is a great card too. I'm not saying not to try, just that FS isn't as easy to get as the others.

Re: Navy Federal nrewards secured graduation

Red1Blue — Sun, 18 Jul 2021 11:23:53 GMT

Congrats

Re: Navy Federal nrewards secured graduation

Anonymous — Mon, 26 Jul 2021 12:27:31 GMT

This is great. I wish someone could tell me what I'm doing wrong. I've had mine for over two years and it still hasn't graduated. Lol.

Re: Navy Federal nrewards secured graduation

Papa_Bear — Mon, 26 Jul 2021 14:46:13 GMT

Congratulations!

Re: Navy Federal nrewards secured graduation

TXPocohontas — Tue, 27 Jul 2021 21:07:50 GMT

@toddc Get those collections taken off so your score can go up. If you need help, PM me.

Re: Navy Federal nrewards secured graduation

USMC_Winger — Tue, 27 Jul 2021 22:36:58 GMT

@Anonymous wrote:
This is great. I wish someone could tell me what I'm doing wrong. I've had mine for over two years and it still hasn't graduated. Lol.

@Anonymous: Use your Navy Fed secured nRewards card every month. Make sure you pay all your credit accounts on time every month, preferably in full. If you do carry a balance on any CC, try to keep it below 29.5%. Lower utilization is better. Don't open any Consumer Finance Accounts (CFAs). Navy Fed is monitoring your credit report (CR) monthly, not just your Navy Fed accounts.

I also recommend improving your FICO scores wherever you can. Aim for a 650 EQ FICO 9 score or higher. Try to clean up your CRs if any derogatory accounts are listed. Practice the AZEO method on your CCs if you can. That will probably boost your FICO 8 & 9 scores by ~10 to 20 points. Don't let every revolving account report $0, or you'll get hit with the "All Zero" (AZ) penalty, which is a loss of ~10 to 20 points. Do you have any open installment loans? If not, you can gain 15 to 35 points on your FICO 8 & 9 scores by using the SSL Technique at Navy Fed.

If you need an explanation of the AZEO method or SSL Technique, please let me know by posting a reply message with @USMC_Winger in the post so I receive a notification.

Good luck!

Re: Navy Federal nrewards secured graduation

Anonymous — Wed, 28 Jul 2021 00:24:19 GMT

@USMC_Winger wrote:
@Anonymous wrote:
This is great. I wish someone could tell me what I'm doing wrong. I've had mine for over two years and it still hasn't graduated. Lol.
@Anonymous: Use your Navy Fed secured nRewards card every month. Make sure you pay all your credit accounts on time every month, preferably in full. If you do carry a balance on any CC, try to keep it below 29.5%. Lower utilization is better. Don't open any Consumer Finance Accounts (CFAs). Navy Fed is monitoring your credit report (CR) monthly, not just your Navy Fed accounts.

I also recommend improving your FICO scores wherever you can. Aim for a 650 EQ FICO 9 score or higher. Try to clean up your CRs if any derogatory accounts are listed. Practice the AZEO method on your CCs if you can. That will probably boost your FICO 8 & 9 scores by ~10 to 20 points. Don't let every revolving account report $0, or you'll get hit with the "All Zero" (AZ) penalty, which is a loss of ~10 to 20 points. Do you have any open installment loans? If not, you can gain 15 to 35 points on your FICO 8 & 9 scores by using the SSL Technique at Navy Fed.

If you need an explanation of the AZEO method or SSL Technique, please let me know by posting a reply message with @USMC_Winger in the post so I receive a notification.

Good luck!

Thank you for the suggestions. I have 3 cards with Navy Federal. I'm never late and they're all under 15% in utilization. Right now Navy Federal has my Fico 9 at a 747. I have no derogotories and the rest of my payment history is stellar. I use Navy Federal as my primary bank and I feel like I have a pretty good relationship with them. I spoke with an agent about 5 months ago and she suggested that the issue was that I was paying that particular card in full every month. Since then I've been sure to leave about 5-10% utilization on the card, and still nothing. Lol. At this point I just think they hate me; which is hard to believe since the've given me over $30k in credit on my other two cards. I'm going to try to keep leaving a little balance on this card each statement and see what happens.

Re: Navy Federal nrewards secured graduation

Anonymous — Wed, 28 Jul 2021 01:23:49 GMT

They do seem to have tightened up some. Also being a CU, they're sensitive to DTI. Possibly your combination of card and loan balances vis-a-vis income has them hesitant to lend more? Just throwing ideas out.

Re: Navy Federal nrewards secured graduation

USMC_Winger — Wed, 28 Jul 2021 05:57:31 GMT

@Anonymous wrote:
@USMC_Winger wrote:
@Anonymous wrote:
This is great. I wish someone could tell me what I'm doing wrong. I've had mine for over two years and it still hasn't graduated. Lol.
@Anonymous: Use your Navy Fed secured nRewards card every month. Make sure you pay all your credit accounts on time every month, preferably in full. If you do carry a balance on any CC, try to keep it below 29.5%. Lower utilization is better. Don't open any Consumer Finance Accounts (CFAs). Navy Fed is monitoring your credit report (CR) monthly, not just your Navy Fed accounts.

I also recommend improving your FICO scores wherever you can. Aim for a 650 EQ FICO 9 score or higher. Try to clean up your CRs if any derogatory accounts are listed. Practice the AZEO method on your CCs if you can. That will probably boost your FICO 8 & 9 scores by ~10 to 20 points. Don't let every revolving account report $0, or you'll get hit with the "All Zero" (AZ) penalty, which is a loss of ~10 to 20 points. Do you have any open installment loans? If not, you can gain 15 to 35 points on your FICO 8 & 9 scores by using the SSL Technique at Navy Fed.

If you need an explanation of the AZEO method or SSL Technique, please let me know by posting a reply message with @USMC_Winger in the post so I receive a notification.

Good luck!
Thank you for the suggestions. I have 3 cards with Navy Federal. I'm never late and they're all under 15% in utilization. Right now Navy Federal has my Fico 9 at a 747. I have no derogotories and the rest of my payment history is stellar. I use Navy Federal as my primary bank and I feel like I have a pretty good relationship with them. I spoke with an agent about 5 months ago and she suggested that the issue was that I was paying that particular card in full every month. Since then I've been sure to leave about 5-10% utilization on the card, and still nothing. Lol. At this point I just think they hate me; which is hard to believe since the've given me over $30k in credit on my other two cards. I'm going to try to keep leaving a little balance on this card each statement and see what happens.

@Anonymous: It sounds like you should've already graduated. I did a lot of research on graduating the secure nRewards CC the fastest. Normally, that's after 6 full billing statements, as long as all other graduation criteria are met. These graduates used the nRewards CC every month (6 to 7 months in a row), consistently kept individual and aggregate CC utilization very low, and PIF every month, often multiple times per month.

I graduated in March this year at 7 months, and here's what I did:

I started with only the nRewards CC, with a CL of $1,000. I had no other open or closed credit accounts on my CR. No derogatories. No FICO scores.
Paid my nRewards CC in full an average of once per week. This kept utilization very low. My CC balance never went over 9.2% of my nRewards CL.
Allowed my nRewards CC to report 2% aggregate utilization every month ($20 to $30), then paid the balance in full as soon as it reported to the CBs.
Once I acquired a second, unsecured CC after 4 months, I paid that in full before the report date every month, so it always reported $0 to the CBs.
I had a DTI of 11%.
I had DD of 3 to 4 paychecks every month into my Navy Fed checking and share savings accounts. These paychecks were 75% of my stated income. The rest went directly to my Roth retirement account and the IRS, so Navy Fed never saw 25% of my income but could be confident I earned more than enough to pay all my bills.
I always kept $3,000 to $9,000+ in my Navy Fed share savings and checking accounts, so Navy Fed could see I had ample savings to cover my monthly bills in case my income suddenly ceased (which was a common danger during the 2020 and 2021 pandemic).
Finally got an EQ FICO 9 score, which was 745, after my 6th monthly CB update. I graduated the following month, starting 2 days after my 7th billing statement cut.