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Navy Fed Secured question

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Momagain
New Contributor

Navy Fed Secured question

Im trying to build a reelationship with Navy Fed.  Moved one of my DD there (hasn't started yet) and know I will be offered (at a minimum) the Secured card.  I know minimum deposit is $200 and a lot of folks seems to graduate  and end up with a $2000 limit.  Any one have an experience on opening with a larger deposit...say like 2k or 3k?  Curious if that affects any CLI you might get at graduation.



Message 1 of 14
13 REPLIES 13
FinStar
Moderator Emeritus

Re: Navy Fed Secured question

I'm not sure it would effect the CLI amount + it really depends on your overall profile with NFCU.  Below are a couple of threads that can provide some guidance:

 

https://ficoforums.myfico.com/t5/Credit-Cards/NFCU-2nd-Card-Graduated/m-p/6210166

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/NFCU-CLI/m-p/6201523

Message 2 of 14
Andy77
Valued Contributor

Re: Navy Fed Secured question

 

I opened two secured cards, one 3k and one 5k. Both graduated with those same limits roughly 6 months after opening.

Message 3 of 14
md_rebuild
Regular Contributor

Re: Navy Fed Secured question

I opened mine with $300 18 months ago.   It unsecured at 6 months, CL rasied to $2K, and about 8 months later I got a CLI to $4.5K.  

 

I'm gardening now and my next CLI won't be until the 1st of May, but I'm putting all of my usage on that card (moving it over from Cap1) to see what happens when I get go for my next increase.

 

I don't think having a large balance is going to mean a larger CLI.   It's really based on your internal profile and usage.

BK7: Discharged Sept 2019
7/7/24:

Message 4 of 14
Anonymous
Not applicable

Re: Navy Fed Secured question

It can go both ways but some everything i've read, it seems like the magic number

wether you deposit $200 or $500, the gradudation CLI increase seems to always be

around $2000.  I've also seen people that had a 5K card and it gave them a $2500 

unsecured limit after graduation.  

Message 5 of 14
Anonymous
Not applicable

Re: Navy Fed Secured question

Hi, I'm new around these parts and was just approved for the Nrewards secured card. I only put down $200. I'm looking to build a relationship even though I've been with NF since 2014. This was the only card I could get approved for after being denied three times mind you. I read somewhere that cards are being graduated after 3months instead of 6. I hope so. I currently have a Cap1, and Discover It secured card. 
My EQ 581, TU 579, EX 581 (fico8)

Message 6 of 14
Anonymous
Not applicable

Re: Navy Fed Secured question

Hi, I'm new around these parts and I just noticed your tag line that display your beginning scores and your current scores. Very impressive. How were you able to transition so quickly and also was it difficult getting approved for AX cards with lower scores? My Ex 581, TU 579, EQ 581(Fico 8)


@Anonymous wrote:

It can go both ways but some everything i've read, it seems like the magic number

wether you deposit $200 or $500, the gradudation CLI increase seems to always be

around $2000.  I've also seen people that had a 5K card and it gave them a $2500 

unsecured limit after graduation.  


 

Message 7 of 14
designated_knitter
Established Contributor

Re: Navy Fed Secured question


@Anonymous wrote:

Hi, I'm new around these parts and was just approved for the Nrewards secured card. I only put down $200. I'm looking to build a relationship even though I've been with NF since 2014. This was the only card I could get approved for after being denied three times mind you. I read somewhere that cards are being graduated after 3months instead of 6. I hope so. I currently have a Cap1, and Discover It secured card. 
My EQ 581, TU 579, EX 581 (fico8)


FWIW, I opened a secured card in December.  3 months later, I applied for a second card and was approved for a 6900 unsecured platinum. 

Unlike some of the DPs I had read, I didn't graduate at 3 months or get an unsecured CLI.  but I was happier having the 2nd large limit (to me) unsecured at 3 months instead of an early graduation to 2k at 3 months.

Started Over Again after Cap1 Death Penalty:
06/15/2019:
03/02/2021:
04/06/2021:
05/28/2021:
Lesson Learned: DON'T POKE THE BEAR!!! THE BEAR WILL WIN!!!
Message 8 of 14
USMC_Winger
Frequent Contributor

Re: Navy Fed Secured question


@Anonymous wrote:

Hi, I'm new around these parts and was just approved for the Nrewards secured card. I only put down $200. I'm looking to build a relationship even though I've been with NF since 2014. This was the only card I could get approved for after being denied three times mind you. I read somewhere that cards are being graduated after 3months instead of 6. I hope so. I currently have a Cap1, and Discover It secured card. 
My EQ 581, TU 579, EX 581 (fico8)


Congrats on your new CC!

 

I've done a lot of research on the Navy Fed secured nRewards card, and I've only seen a few reports of the nRewards card graduating at 3 months.  On closer examination of their credit profiles, it appears that they would have been approved for a Navy Fed unsecured card had they applied.  They didn't apply for an unsecured card originally, because they used Navy Fed's online pre-qual web page, which pointed them to the secured nRewards card.  I must point out that Navy Fed's online pre-qual web page is often regarded as inaccurate.

 

You'll find excellent advice and many tips on cleaning up your CRs to raise your FICO scores significantly in the "Rebuilding Your Credit" forum.

 

Good luck!

FICOs:





Message 9 of 14
Anonymous
Not applicable

Re: Navy Fed Secured question

Wow! I am waiting for my secured card to arrive and I'm feeling a bit anxious. I just want to start improving my credit.

Message 10 of 14
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