NFCU Secured.. What Starting Limit ...

Andy77 — Tue, 05 May 2020 16:48:06 GMT

So my ch 7 discharge will be in a few months and I wanted to app for the NFCU Secured Visa.

I was thinking about depositing the max, 5k, but I have read that if you put this high of an amount they hold the card as being secured longer...

Is this true ?

Should I start with a lower limit with the hope it unsecrues faster, the lowest I want to go is 3k ?

Thank you!

Re: NFCU Secured.. What Starting Limit ...

PicoFico — Tue, 05 May 2020 17:37:31 GMT

@Andy77 wrote:

So my ch 7 discharge will be in a few months and I wanted to app for the NFCU Secured Visa.

I was thinking about depositing the max, 5k, but I have read that if you put this high of an amount they hold the card as being secured longer...

Is this true ?

Should I start with a lower limit with the hope it unsecrues faster, the lowest I want to go is 3k ?

Thank you!

I think you'll find that SL doesn't impact graduation time, but instead may impact your limit when it releases.

Meaning if you do $500 when it graduates you might get 4x CLI for a $2k limit, as opposed to doing max $5k and graduating with no CLI.

Let that mindset have no bearing on your initial deposit, but instead think about how much of a limit you'll need to manage the card properly, if it's your only one, or one of a mix, etc.

topic Re: NFCU Secured.. What Starting Limit ... in Rebuilding Your Credit

NFCU Secured.. What Starting Limit ...

Re: NFCU Secured.. What Starting Limit ...