topic Re: Is Navy Secured card the way to go? in Credit Cards

Is Navy Secured card the way to go?

Creditaddict — Mon, 13 Dec 2010 23:01:43 GMT

I was denied cc I'm assuming for the same reason the auto was denied, because my verifiable income does not match my total income and they would not except bank statements... I would really like to get in with Navy and the secured card with no annual fee and apr from 8.9-18.99 based on credit i guess sounds perfect... what you think?

Re: Is Navy Secured card the way to go?

HindSight_20_20 — Tue, 14 Dec 2010 01:18:51 GMT

Creditaddict,

I started my rebuilding with NFCU's Secured and now have three cards from them (two unsecured), one USAA MC, and some others, NFCU gave me a Secured Card $500.00 and one year later I asked for an unsecured and they approved me based on my history with them (did cost a hard pull though). All that to say.. "yes" ANYthing you can get from NFCU, USAA, PenFed, ect. I would jump on!

The Cards grow with you and the perks (Cash Rewards, GoRewards) and no AF are HUGE!

Hope this helps.

Re: Is Navy Secured card the way to go?

score_building — Tue, 14 Dec 2010 01:40:49 GMT

@Creditaddict wrote:
I was denied cc I'm assuming for the same reason the auto was denied, because my verifiable income does not match my total income and they would not except bank statements... I would really like to get in with Navy and the secured card with no annual fee and apr from 8.9-18.99 based on credit i guess sounds perfect... what you think?

That sounds odd, they're not known for having hang ups about income, often dishing relatively large lines to low incomes.

Re: Is Navy Secured card the way to go?

Anonymous — Tue, 14 Dec 2010 05:32:29 GMT

+1 does not make any sense. i would call navy and ask why was i turn down for credit. it has to be something navy does not like.

Re: Is Navy Secured card the way to go?

Creditaddict — Tue, 14 Dec 2010 05:37:29 GMT

@Anonymous wrote:
+1 does not make any sense. i would call navy and ask why was i turn down for credit. it has to be something navy does not like.

I'm sure it's the debt payments on my CR that out way my provable income... I'm really not that surprised, I was just hoping they would give me a nice small CL that I could start using for my daily expenses and prove to them that my stated income is what I have to work with!

Re: Is Navy Secured card the way to go?

score_building — Tue, 14 Dec 2010 15:10:27 GMT

@Creditaddict wrote:
@Anonymous wrote:
+1 does not make any sense. i would call navy and ask why was i turn down for credit. it has to be something navy does not like.

I'm sure it's the debt payments on my CR that out way my provable income... I'm really not that surprised, I was just hoping they would give me a nice small CL that I could start using for my daily expenses and prove to them that my stated income is what I have to work with!

Well, in that case, sounds like the secured route is great idea, especially since at Navy it generally leads to bigger and better things.

Re: Is Navy Secured card the way to go?

Anonymous — Wed, 15 Dec 2010 01:05:58 GMT

@Creditaddict wrote:
I was denied cc I'm assuming for the same reason the auto was denied, because my verifiable income does not match my total income and they would not except bank statements... I would really like to get in with Navy and the secured card with no annual fee and apr from 8.9-18.99 based on credit i guess sounds perfect... what you think?

I do not think you can go wrong with a Navy Federal secured card since there is no annual fee.

I got one with a very small limit 11 months ago so my son could use it and darned if they didn't automatically unsecure it. As far as I am concerned, NFCU walks on water.

Re: Is Navy Secured card the way to go?

HindSight_20_20 — Wed, 15 Dec 2010 17:42:55 GMT

@Anonymous wrote:
@Creditaddict wrote:
I was denied cc I'm assuming for the same reason the auto was denied, because my verifiable income does not match my total income and they would not except bank statements... I would really like to get in with Navy and the secured card with no annual fee and apr from 8.9-18.99 based on credit i guess sounds perfect... what you think?
I do not think you can go wrong with a Navy Federal secured card since there is no annual fee.

I got one with a very small limit 11 months ago so my son could use it and darned if they didn't automatically unsecure it. As far as I am concerned, NFCU walks on water.

@LOLL @ O6! As far as I am concerned, NFCU walks on water.

I was just thinking about you O6, how'd things go with the USAA venture? R U in yet? I was coming here to post how NFCU just approved me for a consumer loan!!! (just for the mix of credit and to pay my current cards with them) but I was like WOW NFCU is 'untouchable'! with USAA a close very close second!

Again 'ANYthing' you can get from NFCU 'jump on it'!!! they will bend over backwards to serve you!

Re: Is Navy Secured card the way to go?

Tazman81 — Wed, 15 Dec 2010 18:43:58 GMT

@Creditaddict wrote:
I was denied cc I'm assuming for the same reason the auto was denied, because my verifiable income does not match my total income and they would not except bank statements... I would really like to get in with Navy and the secured card with no annual fee and apr from 8.9-18.99 based on credit i guess sounds perfect... what you think?

Why were you not able to verify your income? Do you have direct deposits going into NFCU? I would change to have any work related direct deposits go to NFCU. Then I would get a secured loan with NFCU, and use the proceeds from the secured loan to get a secured credit card. In about 6 months, you should be good to go in order to get a regular credit card and unsecured loans.

Re: Is Navy Secured card the way to go?

Anonymous — Wed, 15 Dec 2010 23:20:31 GMT

@HindSight_20_20 wrote:
@Anonymous wrote:
@Creditaddict wrote:
I was denied cc I'm assuming for the same reason the auto was denied, because my verifiable income does not match my total income and they would not except bank statements... I would really like to get in with Navy and the secured card with no annual fee and apr from 8.9-18.99 based on credit i guess sounds perfect... what you think?
I do not think you can go wrong with a Navy Federal secured card since there is no annual fee.

I got one with a very small limit 11 months ago so my son could use it and darned if they didn't automatically unsecure it. As far as I am concerned, NFCU walks on water.
@LOLL @ O6! As far as I am concerned, NFCU walks on water.

I was just thinking about you O6, how'd things go with the USAA venture? R U in yet? I was coming here to post how NFCU just approved me for a consumer loan!!! (just for the mix of credit and to pay my current cards with them) but I was like WOW NFCU is 'untouchable'! with USAA a close very close second!

Again 'ANYthing' you can get from NFCU 'jump on it'!!! they will bend over backwards to serve you!

USAA is another that, in my opinion, is excellent. I love how their pre-approvals really are solid approvals.

Just out of curiosity, what APR did you get on the NFCU personal loan? Did they require additional income documentation?

Re: Is Navy Secured card the way to go?

HindSight_20_20 — Thu, 16 Dec 2010 03:52:02 GMT

@Anonymous wrote:
@HindSight_20_20 wrote:
@Anonymous wrote:
@Creditaddict wrote:
I was denied cc I'm assuming for the same reason the auto was denied, because my verifiable income does not match my total income and they would not except bank statements... I would really like to get in with Navy and the secured card with no annual fee and apr from 8.9-18.99 based on credit i guess sounds perfect... what you think?
I do not think you can go wrong with a Navy Federal secured card since there is no annual fee.

I got one with a very small limit 11 months ago so my son could use it and darned if they didn't automatically unsecure it. As far as I am concerned, NFCU walks on water.
@LOLL @ O6! As far as I am concerned, NFCU walks on water.

I was just thinking about you O6, how'd things go with the USAA venture? R U in yet? I was coming here to post how NFCU just approved me for a consumer loan!!! (just for the mix of credit and to pay my current cards with them) but I was like WOW NFCU is 'untouchable'! with USAA a close very close second!

Again 'ANYthing' you can get from NFCU 'jump on it'!!! they will bend over backwards to serve you!

USAA is another that, in my opinion, is excellent. I love how their pre-approvals really are solid approvals.

Just out of curiosity, what APR did you get on the NFCU personal loan? Did they require additional income documentation?

APR 18% , documents? what's that??? NFCU had an online app which took all of 2-3 mins to complete and then hit the submit button and 'got the 24hr" standard review msg,

and BAM two hours later approval email. Went to the local branch, they asked for my ID, printed the check, cashed the check and out the door I went! (just a side note) haveing DD and having them take it directly out of one of my checking accounts hepled i'm sure.

As for USAA I gotta keep checking my offers to watch for a pre-approval (my USAA Plat. MC is still too new though) but I'll be looking anyway!