First two unsecured cc approvals nfcu and cap 1

[nate0404]

Background: ignored my credit for years, decided this year to take control of my finances. Pulled credit on 1-5, ex 498, eq 505, tu unable to report. No active credit lines. Defaulted student loan that turned into 6 neg tradelines all with balances owed, a couple of older misc collections, and an unpaid judgement. Not good.

Opened a secured card through usaa, joined nfcu and took a share secured loan and immediately paid to 8%.

I offered a pfd on a collection and had it removed.

Scores went to ex584 eq 611 tu 634 as of last week


Was going to wait a while before apping for anything but cap 1 prequal site suggested i would be approved for quicksilver1 so i apped and approved sl of $300

Next i was going to wait for a few months and apply for the nfcu cash rewards, but after reading some of the approvals people were getting i decided to go for it.

Instant approval sl $2900, i couldnt beleive it. So I immediately sm reconned asking for $5k, denied. I am very pleased and still in disbelief they would approve me with those unpaid negative accounts.

Not sure what to do next, 2nd nfcu card in a few months?

[Anonymous]

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@nate0404 wrote:
Background: ignored my credit for years, decided this year to take control of my finances. Pulled credit on 1-5, ex 498, eq 505, tu unable to report. No active credit lines. Defaulted student loan that turned into 6 neg tradelines all with balances owed, a couple of older misc collections, and an unpaid judgement. Not good.

Opened a secured card through usaa, joined nfcu and took a share secured loan and immediately paid to 8%.

I offered a pfd on a collection and had it removed.

Scores went to ex584 eq 611 tu 634 as of last week


Was going to wait a while before apping for anything but cap 1 prequal site suggested i would be approved for quicksilver1 so i apped and approved sl of $300

Next i was going to wait for a few months and apply for the nfcu cash rewards, but after reading some of the approvals people were getting i decided to go for it.

Instant approval sl $2900, i couldnt beleive it. So I immediately sm reconned asking for $5k, denied. I am very pleased and still in disbelief they would approve me with those unpaid negative accounts.

Not sure what to do next, 2nd nfcu card in a few months?

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Congrats! All I can say is that Nfcu is awesome! I have the cash rewards & the Cloc but for the life of me I am unable to get a second card with them. I'm going to wait few more months before trying again for a second card. 

[nate0404]

Thanks mama pearl! I'm really excited to build a relationship with Navy federal. They seem like such an outlier when extending credit to profiles like mine, it must work for them. Ive been a member for one month and have more loyalty to them than i have ever had with a financial institution.

[Anonymous]

You have 3 cards now. I'd nurture those and try to get SP CLIs from Cap1 and Navy over the next 3-6 months. Take that time to see what else you may need and go from there

[Anonymous]

Congrats on the good approvals, btw

[Anonymous]

I got NFCU 6500 limit at 580 fico score.  My Fico score went up to to 600 an applied for CLOC and was denied. Said something about lack of income.  I make 135k so not sure what that is about as I also have zero debt.   Anyway they seem to have some internal rating as their scale goes to 950.   I also have a Cap One card.

I got Pottery Barn,  JCrew and Express through shopping card trick, Kohls , Lend up L card Visa as well as Bank of America 99/500 rewards so I am sure you could get them as well.  Turned down for Penfed.  

[nate0404]

Thanks Tigers, sounds like a plan

[nate0404]

In two years my defaulted student loans will fall off my reports and my aaoa is going to take a serious hit. Thats why i thought it would be better to add cards sooner than later, also i will be cancelling the usaa secured card about the same time so i will need to add at least one card at some point,

[Anonymous]

Congrats on the approvals. Have both Cap 1 and NFCU and am enjoying both! 

As for Cap 1 QS1, use the card and try for an increase in about 3 months. Ask if there are any upgrade offers on your account. They may be able to PC it to a regular QS without an annual fee. I was able to PC mine in 3 months. Others it takes longer.  Also, you are probably enrolled in Credit Steps and should receive an increase at the 6 month mark. The increase (if you receive one) that you received at the 3 month mark should not affect the Credit Steps increase at 6 months. Good luck 

Also, NFCU is awesome. You can grow that credit limit very well.