APPROVED for NFCU nRewards! Next steps?

[designated_knitter]

Moderators:  Sorry -- I posted this in the wrong area -- if you want to delete this thread, please do... apologies for the duplicate messages.

Hello all,

Last week, I applied for CashRewards and was denied -- reason given was "Limited Credit Experience".  

This week, I applied for a used car refinance and that was approved.  Then today, I applied for the secured nRewards card.

I want to use it to replace one of my existing cards... my options are:

• Secured Citibank -- 1000 deposit.  Opened 18 months ago and got a letter that they would be keeping my deposit for another 12 months.
• Secured USBank -- 800 deposit.  Opened 18 months ago and no indication that it will unsecure anytime soon.
• Unsecured Credit 1 -- 600 limit that I have had for just over a year.
• Avant -- 300 starter limit
• Mission Lane -- 400 limit but probably will get a small bump this month.

Is it better to keep the secured "big boy" bank cards and hope to cultivate those relationships or get my money back and keep the toy cards for now and then apply for the "big boys" down the road as my scores improve?

Also, if I understand correctly, should I apply for another credit card or line of credit in 90 days?

Thanks in advance for any words of wisdom.

[Anonymous]

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@designated_knitter wrote:

Hello all,

Last week, I applied for CashRewards and was denied -- reason given was "Limited Credit Experience".  

This week, I applied for a used car refinance and that was approved.  Then today, I applied for the secured nRewards card.

I want to use it to replace one of my existing cards... my options are:

• Secured Citibank -- 1000 deposit.  Opened 18 months ago and got a letter that they would be keeping my deposit for another 12 months.
• Secured USBank -- 800 deposit.  Opened 18 months ago and no indication that it will unsecure anytime soon.
• Unsecured Credit 1 -- 600 limit that I have had for just over a year.
• Avant -- 300 starter limit
• Mission Lane -- 400 limit but probably will get a small bump this month.

Is it better to keep the secured "big boy" bank cards and hope to cultivate those relationships or get my money back and keep the toy cards for now and then apply for the "big boys" down the road as my scores improve?

Also, if I understand correctly, should I apply for another credit card or line of credit in 90 days?

Thanks in advance for any words of wisdom.

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At this point, applying for anything else is in no way benefiting you. Slow and steady - and that means waiting more than 90 days!

[designated_knitter]

You are right -- any suggestions on what card(s) to cull?

[FinStar]

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@designated_knitter wrote:

Moderators:  Sorry -- I posted this in the wrong area -- if you want to delete this thread, please do... apologies for the duplicate messages.

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Hi @designated_knitter - no worries, we'll discuss the punishment later 🤫😄😄

I moved your other thread to the Approvals section so you can enjoy the celebration with our other members 👍 Btw, congratulations!

 I left this one here so that you can continue a separate discussion on your future goals.

*ETA - for anyone who'd like to learn more about the OP's NFCU outcome, it can be accessed via the link below:

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/UPDATE-APPROVED-NFCU-nRewards-application-Nex...

[AllZero]

Congratulations on your approval!