NFCU Secured Approval

[Anonymous]

So thankful for everyone on the forum. Because of you guys I have been able to educate myself so much. I was just approved for a 1000$ nRewards Secured Visa. This is my 2nd secured card with my fiancée. They pulled transunion. Now I just need to get 1 more secured card so we can have the 3 revolving credit card accounts. Does anyone have any suggestions outside of capital one secured and discover secured? We would like one that will graduate. I don't think we will get approved for the discover secured because of the collections on my account and hers. She was denied when she solo apped for the student discover card because of medical collections. But we're open to suggestions and would both love to be apart of discover but are just worried to app because of her original denial. Thanks everyone

[Anonymous]

How old are the collections? Are they all medical for both of you?

[Anonymous]

Congrats! That's a big step in the right direction.

[Anonymous]

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@Anonymous wrote:
So thankful for everyone on the forum. Because of you guys I have been able to educate myself so much.

I was just approved for a 1000$ nRewards Secured Visa. This is my 2nd secured card with my fiancée. They pulled transunion. Now I just need to get 1 more secured card so we can have the 3 revolving credit card accounts.

Does anyone have any suggestions outside of capital one secured and discover secured? We would like one that will graduate. I don't think we will get approved for the discover secured because of the collections on my account and hers. She was denied when she solo apped for the student discover card because of medical collections. But we're open to suggestions and would both love to be apart of discover but are just worried to app because of her original denial. Thanks everyone

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1) Congrats on your progress so far

2) I'm going to assume you guys have an installment account to go along with the revolvers you're looking to establish (if not search my post on why a secured PL should be step1, prior to your next secured CC)

There are a few easy to join CU's with low deposits and the couple banks I like as starters including

Harley-Davidson® Visa® Secured Credit Card | U.S. Bank

Harley-Davidson® Visa® Secured Credit C...

$300

Initial deposit ($300) + fees ($0)

This is the best of the U.S. Bank sister cards (don't worry about the H.D. thing ....bottom line is it's U.S.Bank and grads)

Credit Cards | SDFCU

Credit Cards | SDFCU

$250   7.24%

Initial deposit ($250) + fees ($0)

*Their not bad to have around, for later b/c their car rates are killer!

Secured Visa Credit Card: Affinity Federal Credit Union

Secured Visa Credit Card: Affinity Fede...

$250

Initial deposit ($250) + fees ($0)

800.325.0808

Membership Is Available To Almost Everyone.

Visa Platinum Secured Credit Card | Low Rates | DCU | MA | NH

Visa Platinum Secured Credit Card | Low...

$300   11.75%

Initial deposit ($300) + fees ($0)

I'm a no AF, will graduate fan....you've already tied up a $1000 bucks in one account there is NO NEED to tie up a bunch for in others as

the only thing that matters is the % of debt vs the CL ....rotate a little use, between the 3 accounts (keeping your new relationships active)

while allowing 24 on-time payments to report with PRETTY utilization over the next 8 months (8 months x the 3 cards) and you guys will be on your way...

and the string on the recent HPs will have diminshed and any you take right now will be 4 months away from diminishing...in addition all your accounts will

be nearing a year in age ...thus your deposits, will be ready to be returned, in short order.

Best of Luck.

[Aduke1122]

Which other one do you have besides the Navy Fed ?

[Anonymous]

A little more insight for you guys. I am currently in negotiations with capital one to settle my debt with them out of court. I also have 6 collection accounts totalling about 4000$. They are all held by midland funding and portfolio recovery. The OC of those CO is between Synchrony Bank, Capital One, and BOA. So once I finish negotiations with capital one and pay off my collections I'm sure Capital One will give me a prequal on their site. 

The other secured credit card I have currently is through my local CU Suncoast Credit Union. Also a 1000$ limit.

My fiancées collections are between EQ and TU. 7 medical collections total. Her experian credit report is completely clean. I will work on the HIPPA process for her medical collections once I'm able to pay off all my debts. Shes had no credit in her life up until this point. So all she has right now is positive history(outside of the medical collections.

We currently have 2 secured cards and 2 secured loans together. Just looking for the 3rd secured card that will graduate. Any suggestions?

[Aduke1122]

I was gonna suggest Discover , Cap one or BOA bc they all graduate . If you are a member of USAA they have a good secured card also .

[Anonymous]

Not to ask a stupid question, but if her experian report is completely clean, why don't you have her apply for a card from AMEX for Citi? They both are pretty much exclusively experience.

[Anonymous]

How are the 6 different collections? Not the date the collector assumed the debt, but the month/year you began not paying the original creditors?

Also, what state do you live in? you have the right to ask them to validate the debt with the original creditor

Pull your hard copies of all three of your reports and look for the date of last activity on each original creditor accounts.

Keep those reports somewhere safe until all your negative items age off, in case one tries to "re-age" it

Certain secured cards won't approve if you are still within the SOL on the debt (that's why I asked your state and debt age)

[Anonymous]

First of all thanks for all the replys. I should have said that the secured card/secured loans from my local CU have only been reporting since june. So for her, citi and American express are not an option because of limited credit. We pulled her three scores and reports from CCT. She doesn't have a score on any of the bureau's yet and from what I've read she will need to have established credit for at least six months before she gets her scores.

All of my collections DOFD are around the same time December of 2013. Since I still owe money to both Capital One and Bank of America they are both unfortunately not an option for us. All of my collections are within SOL.


Gemini101 wrote:

1) Congrats on your progress so far

2) I'm going to assume you guys have an installment account to go along with the revolvers you're looking to establish (if not search my post on why a secured PL should be step1, prior to your next secured CC)
There are a few easy to join CU's with low deposits and the couple banks I like as starters.
I'm a no AF, will graduate fan....you've already tied up a $1000 bucks in one account there is NO NEED to tie up a bunch for in others as
the only thing that matters is the % of debt vs the CL ....rotate a little use, between the 3 accounts (keeping your new relationships active)
while allowing 24 on-time payments to report with PRETTY utilization over the next 8 months (8 months x the 3 cards) and you guys will be on your way...
and the string on the recent HPs will have diminshed and any you take right now will be 4 months away from diminishing...in addition all your accounts will
be nearing a year in age ...thus your deposits, will be ready to be returned, in short order.
 
Best of Luck.

I didn't see how detailed this post was until just now! Thank you so much. Is US Bank a prime lender? If so this seems to be our best option for the long term. We already have $3000 tied up between the two secured cards and two secured installment loans. Our first secured card from our local CU won't graduate unfortunately. So it is very important to us that our next secured card will graduate and be with a prime lender. Once again I really appreciate you taking your time to post. Kudos to you :]