so i've had my first navy federal secured card for 3 months now. Only got a 200$ spending limit to get in the door. when i got the card my credit score was around 560 and now its around 650. Other things on my account are a discover it secured card ive had for roughly 4 months and a capital one unsecured card with a 400$ limit thats about to graduate to a 500$ limit in may.
As for baddies i have some late payments about 2 years ago and I have a studen loan in collections that im doing the forgiveness program on and the loan will be out of collections around june.
just wondering when i should apply for a second card and if i should wait untill my first one graduates? Also how many cards can i have with navy federal?
While its not unheard of to get huge limits from them right at 91/3, I would try holding off till the 6 month mark. It seems there has been lots of success with that lately.
Check out the Navy-Federal-Thread-for-CLI-and-Additional-Cards if you haven't already.
There are DPs to support both 91/3 as well as the 6 month time frames. To be sure and to optimize your application I would wait the full 6. But if I were in your shoes I would want to app now lol I lack patience! There are numerous posts about people in this situation when they get approved with a decent limit while holding a secured from Navy.
As long as you have a solid history since you opened up your secured card with Navy you have been building an internal score with them and like the previous poster suggests waiting until month 6...and top of that your card unsecuring would be optimal for best results.
Just my 2 cents... Good luck!