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NFCU OR Discover iT Secured

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Valued Member

NFCU OR Discover iT Secured

I am approaching 5 months post Ch.7 discharge and I haven’t gotten a regular credit card yet. I was approved for Express, NY & Company, and Children’s place store cards. Everyone else has denied me. I got a preapproval in the mail for an Indigo card, but I don’t want an high fee, high interest card. So now, I’m at a point of just doing a secured card. I want something that will graduate pretty quickly. I’m looking at the discover and nfcu secured cards. Which do you all think I should go with?

After a year I think I will close one of my store cards because honestly, I don’t want a lot of credit cards. Lesson learned.

I want to do $500 total for the card. Maybe add to it later on since I just accepted a promotion at my current job, and I’m back in a much better financial situation.

I’ve had my store card for 3 months now.
13 REPLIES 13
Valued Member

Re: NFCU OR Discover iT Secured

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Message 2 of 14
Contributor

Re: NFCU OR Discover iT Secured

5 months post discharge with 3 months of store cards history, you have a good chance of getting approved for unsecured credit cards especially Capital One and Discover. If you haven't already tried, you should try their pre-qual sites to see if they pre-qual you for any of their cards. 

My bk7 discharge is scheduled for next week. But last month I got approved for a Cap One Platinum card and a Discover IT secured. 

Message 3 of 14
Regular Contributor

Re: NFCU OR Discover iT Secured

Well, I would go with NFCU to build history. I had a secured card with them for about 3 months and then applied for an unsecured and was approved at $7000.

 

The plus side of Discover is that you may get approved for an unsecured once the NFCU starts reporting. I love Discover but if i had the choice and could only do 1, i would go with NFCU

 


Personal Cards:


AU Cards:

Message 4 of 14
Community Leader
Super Contributor

Re: NFCU OR Discover iT Secured

I would check the prequal pages for Discover and Cap1 first before you do a secured card.  If it says congratuations, weve prequaled or preapproved you for the following cards, and it offers you a SET apr, NOT a range, then go for it!! 

 

Try those two first, and see if they offer you anything. If you have to do a secured a card, I would most definitely go with Navy federal. They wiill grow with you sooner, and tremdously if you have the patience. Ive been with them for a little over 4 yrs now, (Im 4. 6 yrs post BK7), and I have 2 CC with them...$25k & $20k , CLOC-$15k, and a paid off car loan.  Smiley Wink. Treat them well, and they will do the same! Smiley Wink

 

Report back here with your findings on the prequal sites with Discover and Cap1....good luck! 


My rebuild worked for me, but won't necessarily work for you!
BK7 D/C- 08/2013
Message 5 of 14
Valued Member

Re: NFCU OR Discover iT Secured

I went ahead and did the preapproval for both discover and capital one. Capital one was a no go and discover said the secured card.

I app’d for the NFCU secured card and I just got the text saying it was approved!!!

Super excited to finally get in the door with them.
Message 6 of 14
Community Leader
Super Contributor

Re: NFCU OR Discover iT Secured


@CurlyShirleywrote:
I went ahead and did the preapproval for both discover and capital one. Capital one was a no go and discover said the secured card.

I app’d for the NFCU secured card and I just got the text saying it was approved!!!

Super excited to finally get in the door with them.

Thats great! Congrats to you!! Just be patient with them, and you'll find that you'll eventually be rewarded!! After you've had the secured card with them for 6 statements, app for the Plat card.Smiley Happy


My rebuild worked for me, but won't necessarily work for you!
BK7 D/C- 08/2013
Message 7 of 14
Super Contributor

Re: NFCU OR Discover iT Secured

You should attempt applying for an unsecured NFCU. I want to see the result, pleasssse Smiley Wink
Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
740 EQ FICO 06/2018
750 TU FICO 06/2018
741 EX FICO 06/2018
$24k NFCU Platinum | $25k NFCU cashRewards Sig | $15k NavChek | $7.1k Cap1 Quicksilver | $10k Amazon Store | $19k Cap1 VentureOne | $16k Barclay Aviator | $5k Chase Freedom | $5k Chase Sapphire Preferred | $9k Costco Visa | $20k AMEX BCE
Message 8 of 14
Valued Member

Re: NFCU OR Discover iT Secured

I applied before I decided to go the secured route. I app’d for the platinum and goRewards. Denied for both. I did all 3 the same day. The unsecured and then the secured.
Message 9 of 14
Frequent Contributor

Re: NFCU OR Discover iT Secured

For those following this thread, note that Navy Federal's general credit card policy is that a bankruptcy must be at least 1 year old before an unsecured card will be approved. The OP's BK is 4+ months old, which is likely why the unsecured card app was denied.

Message 10 of 14
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