Navy Fed Secured question

[USMC_Winger]

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@Anonymous wrote:

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.

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It's going to take a lot of patience, but you'll find it's worth it.  It's best to PIF every month and don't go over the credit limit or pay late.  The secure nRewards card graduates to the cashRewards card with 1.5% cash back.  You only earn 1% cash back while your card is still secured, but at the time of graduation, whatever balance you have in points will be converted to 1.5 times as many points.

[designated_knitter]

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@USMC_Winger wrote:

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@Anonymous wrote:

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.

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It's going to take a lot of patience, but you'll find it's worth it.  It's best to PIF every month and don't go over the credit limit or pay late.  The secure nRewards card graduates to the cashRewards card with 1.5% cash back.  You only earn 1% cash back while your card is still secured, but at the time of graduation, whatever balance you have in points will be converted to 1.5 times as many points.

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Dang, I didn't realize that!  I've been redeeming my points for Amazon gift cards because I didn't want to lose them if I graduated.

Thanks foe the info.

[USMC_Winger]

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@designated_knitter wrote:

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@USMC_Winger wrote:

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@Anonymous wrote:

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.

---

It's going to take a lot of patience, but you'll find it's worth it.  It's best to PIF every month and don't go over the credit limit or pay late.  The secure nRewards card graduates to the cashRewards card with 1.5% cash back.  You only earn 1% cash back while your card is still secured, but at the time of graduation, whatever balance you have in points will be converted to 1.5 times as many points.

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Dang, I didn't realize that!  I've been redeeming my points for Amazon gift cards because I didn't want to lose them if I graduated.

Thanks for the info.

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You're welcome!  I was getting ready to redeem my points, too, when someone here posted that golden nugget to let me know.  We've got to inform all the new secure nRewards card holders so they can maximize their rewards.

[Anonymous]

I wish I had seen this earlier! I've already cashed in two 5000 point sets of rewards for cash on my secured NFCU card (I pay for everything on the card and pay it off in full every morning, so I build up a lot of points, especially since I just got off of 3 years of being unemployed or barely employed, and am using the card to put almost my whole income into catching up on my old debts). My third full statement is today, but I'm assuming I'll have to wait for the sixth to graduate. At the rate I'm getting points 1.5x could be an extra hundred dollars by month 6.