How long to wait for NFCU Secured Card

[southernblueeyes]

I started my rebuild in March. Started with $1000 Opensky

$400 Credit One

Self Lender one year $48/month

Just joined Navy Federal Credit Union. How long should I wait to apply for the secured card? I am just trying to get my foot in the door and hopefully auto loan at the end of the year. 

[FireMedic1]

They already have your score when you joined from the HP. If it was w/i 30 days. Give it a try.

[southernblueeyes]

Thank you so much!! Just joined today so I'll give it a couple days and give it a shot. Savings and Checking accounts were set up today. She did ask me if I was interested in a credit card or any loans. I was a little surprised about that. Crossing my fingers!! How much should I put for the secured card? Do I get to choose or do they choose the limits? I was thinking another $1000 secured and hopefully it will graduate before the end of the year. 

[FireMedic1]

Your amount is good to start with. Average grad is 7 months. Nail it!

[Anonymous]

A few quick thoughts:

• Expect a hard pull for a credit card application, even for a secured card.
• Ensure all your credit reports are properly reporting that the bankruptcy is discharged. Applications have been denied due to incorrect reporting. 
• As far as the amount goes, I would put the most you can afford.
  • If you're graduated after 7 months, then this amount is typically your new unsecured credit limit. I opened one for $5k immediately after discharge, and had a $5k unsecured credit line 7 months later. This limit is unheard of for most other unsecured lenders so close to discharge.

[oddsome]

@southernblueeyes 

I just opened an NFCU Secured this past weekend. My discharge went through in late February. They did a hard pull on Transunion when I applied for the card.

[southernblueeyes]

I will apply next week. They put a 5 day hold on the deposit I made because they thought the check would not be paid. Not sure why they thought that. But it did clear my other credit union account. So now just wait for the hold to be released. Unfortunately Transunion is my lowest score at the moment but I'll cross my fingers. 😁

[southernblueeyes]

Approved! Started with $1500.00. So very happy!! Now off to garden. Got my 3 cards and 1 installment loan. 😁😊

[AllZero]

Congratulations on your approval!

[Anonymous]

@southernblueeyes - Congratulations! Nothing but up from here!