Hi,
Anyone have experience with NFCU secured. They want me to deposit $250 in savings, they deposit $250, no credit check and they report at the CRA. The representative informed me payments would approx be $40 for 6 months. By doing this it would be our scores and we'd have a better chance when apping for unsecured cc.
I'm hoping some have some insight on this. If this is something to help I want to jump on it right away
Thanks
Anyone have experience with NFCU secured. They want me to deposit $250 in savings, they deposit $250, no credit check and they report at the CRA. The representative informed me payments would approx be $40 for 6 months. By doing this it would be our scores and we'd have a better chance when apping for unsecured cc.
I'm hoping some have some insight on this. If this is something to help I want to jump on it right away
Thanks
I haven't personally used it, but seems pretty good actually if you have $250 to put in savings for 6 months. No credit check, and you will get the money after you pay the 6 payments. This will give you some positive payment history, and a good trade line on your reports which will help your scores if you don't have any installment accounts and are looking to build credit.
If you don't want to put up the money up front, you can look at something like selflender... You just pay your payment each month, no credit check, they report to the 3B, and you get your money +interest from the CD - intrest owed to SL at the end of your terms.
Thanks! I actually made the deposit and plan to move forward today.
Not sure if the only option is 6 months but that's what the loan specialist mentioned to me. And that after completing the 6 months I would have a better chance at being approved for unsecured rewards card.
